Paying QuickBooks Bills with a Credit Card or Vendor Credits
Paying QuickBooks Bills with a Credit Card
Paying QuickBooks Bills with charge cards and Vendor CreditsSituation 1: You’ve entered a bill to your QuickBooks, and it’s now listed as a highly skilled payable. You’ve just determined that some of those QuickBooks Bills were (or would be) paid with credit cards. What do you do?
Company owners and bookkeepers often use bank cards to cover QuickBooks bills.
The motivation may be the ease and capability of paying by phone or online, the person paying the balance can be during the vendor’s site and would like to pay the bill while there, it could be for security or tracking purposes, and/or to make bonus points for travel or additional products. If you want to learn about Pay A Credit Card Bill Using QuickBooks and you need any help then Contact our Proadvisors.
Paying QuickBooks bills with a charge card is a very common occurrence – and one that you’ll wish to know how to deal with.
To record your bank card Bill payment:
Go to the bottom associated with Bill Payments screen, and locate the “Method” field.
Change it from ‘Check’ to ‘Credit Card’.
Then go right to the ‘Account’ field, and select the bank card account that you’ll be using for payment.
Paying QuickBooks Bills with Bank Cards and Vendor Credits
Choose the Bill(s) you need to pay with a credit card.
Click the “Pay Selected Bills” button and Shazam(!!) your Bill payment is properly recorded along with your bank card balance is increased.
Just remember! QuickBooks will ‘remember’ which you paid your Bills with that bank card, while the the next occasion you pay Bills – guess what – it will default into the most recent payment ‘Method’ you used.
So if you just paid some QuickBooks Bills via charge card, and soon after decide to pay Bills in your regular way (e.g., to cover the Bills from a bank account), and when you forget to improve the “Method” and “Account” fields, you can end up with a lot of payments going against the credit card account. Aaargh! You will probably find yourself with lots of manual corrections to pull through.
So always check the “Method” field at the bottom of the screen just before strike the “Pay Selected Bills” button.
Paying QuickBooks Bills with a Vendor Credit
Situation 2: It’s time for you to pay the organization bills. You intend to be sure that you don’t overlook any outstanding vendor credits that will reduce the amount you pay to a vendor.
Here’s a quick option to be sure that you find – and take – all the credits you deserve!
Before paying Bills, review the existing status for the bills to cover. My favorite ‘background check’ reports include the
Accounts Payable Aging Summary,
Unpaid Bills Detail, and
Vendor Balance Detail.
…
When it’s time to actually pay your Bills, and also you place a check-mark into the white column for a Bill that you want to pay, if a vendor credit exists, the Set Credits button at the end for the screen will transform itself into a ‘clickable’ button:
You’ll have the ability to observe how many credits exist and the total $ amount available.
You may then click on the button and select the credit(s) that you want to put on to this Bill.
QuickBooks will apply the credit(s) to your Bill and minimize the quantity that shows within the ‘Amount to pay for’ column.
If possible, apply smaller credits against larger bills. Why? When a credit pays the entire bill, the credit will “disappear”.
For better tracking, apply a smaller sized credit to a more substantial bill so the knowledge will show up on the check voucher that would go to the seller, and makes it easier in order for them to see how you’ve applied the credits.
Those two tips should help you pay all your QuickBooks Bills more efficiently – regardless of the method that you elect to pay them.
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