A small and medium scale business cannot execute without paying and managing bills. If you’re a QuickBooks Online user, the entire Pay and Maintain QuickBooks Bill Online payment process can create things easier and simple for you. In this blog, we will describe the entire process of bill payment in detail.
From inserting a bill and making payments to setting reminders and reviewing the pay bills. All of this can be done through a single accounting tool. You will obtain all the necessary information in this blog, right here.
Pay and Maintain QuickBooks Insert and Receive Bills in QuickBooks Online
For entering accounts payable in QB, please follow these simple and easy ways: –
- On your accounting tools, press on the Suppliers tab and select the Enter Bills option
- Select the Bill Date, Terms, and Due Date
- From the drop-down menu option, select the Expense Account option.
- You will attain the full description of the bill.
- Now, insert the particular amount as well as the accompanying tax rate.
- And Last, press on the Save option followed by the press on Close option
Pay and Maintain QuickBooks Bill Payment Procedure
After inserting the bills, you have to control them and create QuickBooks bills payment. As a QuickBooks product user, you have plenty of charge options, one is through the expenses record form and the other form is by printing checks. There are times when you cannot make immediate and quick bill payments because of money reduction, at that time you can Create partial payments.
Here are some options which you may use to create QuickBooks online payments: –
- Click on the suppliers and vendors window of your accounting tool
- Press on Suppliers and choose Pay Bills
- on this window, you will get two options by which you can easily filter your QuickBooks bills.
- Now, tap on a particular product supplier bill that you require paying to.
- The software will view the information related to the product supplier along with the invoice number.
- Insert the amount to be paid.
- Select a bank account through which you will make the payment.
- In last, press on Pay Selected Bills options, Save the changes and close the window.
Bill Payment Fields that QuickBooks Create an Easier
If you have QuickBooks Online, then you will never worry about filling these fields: –
- Payee – The name of the supplier
- Account: The business accounting tools will set up a primary account by default for you. In any matter, you have different multiple accounts, you will have the option to select an individual account from the drop-down menu option before creating the payment.
- Reference Data Number: QuickBooks will assign the next check number.
- Full and Paidble Amount: The accounting tool considers that you will always make a full payment. In case you pleasure to create a partial payment, simply direct change the amount.
- In Outstanding Payment Transactions: The accounting tool will list down all the pending bills, you can check or uncheck that you wish to pay.
Setting Reminders for Overdue or Unpaid QuickBooks Bills
It is difficult and hard to remember the due date for various bills. So, you can set reminders so that the payment is easier and at the right time. You want to follow these simple characteristics such as:
- Foremost, press on the Edit Menu option
- Watch for the Preferences option below the Edit Menu option.
- A new window will open wherein you want to watch for the Preferences option and press on Reminders alarm.
- There will be a tab name ‘My Preferences’ where you require to confirm the ‘show/display reminders alarm when opening a company file box.
- Present Time, from the company, preferences Menu option, fix the Bills that you require paying. Choose the number of days before which you would like to get a reminder alarm.
- Press OK. You will get a dialogue box reminding you of the overdue and unpaid box as soon as the fix-up has done.
- And Last, you require to press on Reminders and Warn Alerts to view the present reminders on the desktop home page.
Frequently Asked Questions:
1. What is meant by Bill Pay for QuickBooks?
Ans Bill Pay for QuickBooks is a type of bill payment tool that is made by Bill.com. And it enables one-click vendor ACH payments within QuickBooks Online and makes bill payments easier.
2. How does Bill Pay for QuickBooks differentiate from Bill.com?
Ans Basically, Bill.com is for users that want to acquire more from their bill payment tool. It includes all of the features of Bill Pay for QuickBooks Online and adds approval workflows, paperless document storage, and team collaboration tools. However, this standalone product integrates seamlessly with QuickBooks accounting software. However, it does many things like simplifying data entry and reducing manual errors.
We hope you know how to pay bills in QuickBooks. With this blog, our business’s fundamental aim was to remove all the queries like bill payments and the setting of reminders. In case you have any more questions, then feel free to call us at our toll-free number. You may also leave a comment below and we will reply as soon as possible.