Enter Expenses and Pay Bills

How we pay bills by Check

This is the process of paying invoices by CHECK and what needs to be done to record the bill in Quickbooks before payment checks are issued.

How?

From the Quickbooks dashboard, start by clicking the “+” icon located on the top menu right-hand side (it will look like a “x” after you click it). Then select BILL option see image below.

From the Contractor or Vendor page, start by clicking the down arrow next to the name of the contractor or vendor. Then select Create Bill see image below.

At this point Vendor or Contractor information may populate automatically or will need to be input if missing. Your screen should look like the image below.

Enter the Bill Date manually. The due date will fill in automatically based on the Payment Terms and bill date. See image below.

The Bill Number is the same as Invoice Number. Find the invoice number on the invoice itself and input that number into the Bill No Field. See image below for location. If the bill you have received does not have an invoice number, (such as with utility companies) you will create one that is unique and will be used for that vendor only.

Enter the details of the invoice by Category and Item Details. See image below

Expense Category: Start by entering the direct General Ledger you want to charge. You may select more than one in some cases. Next enter a description for the charge if needed. Last enter the amount of the expense.

Item Details: Used the same break down as listed in the invoice received. Enter the quantity of each component listed and the associated price for each. Next compare what is listed on the invoice with what is already listed in Quickbooks observing for irregularities.

Report invoice discrepancies to management before moving forward.

Enter the amount of expense to this account.  If these costs are directly billable to a customer, you will choose billable, markup % and customer.  Otherwise leave blank. See image below.

After entering BOTH Category and Item information –

CHECK the total amount of the invoice matches the total amount of the bill entered into QuickBooks.  If sales tax is applicable, ensure the check box is marked for each line.  If the company needs to self-assess taxes, see management.

Once finished, Click the Save and Close Green button located at the bottom right-hand side of the screen.

Items Paid by Debit/Credit Card

How?

From the Quickbooks Dashboard. Click on the “+” icon on the top menu located on the top right-hand side of the screen. Then select EXPENSES option. See image below.

Enter the details of the Expense by Category and Item Details. See image below

Expense Category: Start by entering the direct General Ledger you want to charge. You may select more than one in some cases. Next enter a description for the charge if needed. Last enter the amount of the expense.

Item Details: Used the same break down as listed in the invoice received. Enter the quantity of each component listed and the associated price for each. Next compare what is listed on the invoice with what is already listed in Quickbooks observing for irregularities.

Report invoice discrepancies to management before moving forward.

Enter the amount of expense to this account.  If these costs are directly billable to a customer, you will choose billable, markup % and customer.  Otherwise leave blank. See image below.

After entering BOTH Category and Item information –

CHECK the total amount of the invoice matches the total amount of the bill entered into QuickBooks.  If sales tax is applicable, ensure the check box is marked for each line.  If the company needs to self-assess taxes, see management.

Once finished, Click the Save and Close Green button located at the bottom right-hand side of the screen.


Jared McLaughlin

Founder of 2nd Energy.

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