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Community Contributor *
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Same Vendor Different business lines

Hello,

 

I have the same vendor for three different business lines and I would like to check the balance of each business lines.

 

I tried to create a class for each business line but the Bill Pmt Check transactions cannot accept class, they appear as "unclassified".

I tried to create an account for each business line but then the Bill Pmt check transactions doesn't appear since they are linked to AP/ Cash.

 

The only solution I am envisioning is to create three vendors. Is there another way?

 

Thank you for your help,

Best answer 06-12-2019

Accepted Solutions
QuickBooks Team

Re: Same Vendor Different business lines

Welcome back to our forum, @Ilovecashflow,

 

It's great to know that the steps provided by my colleague FritzF worked for you. On his behalf, I'd love to provide the clarification you're looking for.

 

You're right. Since deleting cleared transactions can affect your previous reconciliation, you can transfer funds by creating journal entries. Before proceeding, I recommend consulting with your accountant first. This is to ensure it will not throw off your financial records.

 

Perform these steps to create a journal entry in QuickBooks Desktop:

 

  1. Go to the Company tab.
  2. Choose Make General Journal Entries.
  3. Complete all necessary fields.
  4. Click Save & Close.

To guide you on how to create a clearing account, check out this article: Set up a clearing account

 

That should do it. Please update me if you have other questions about QuickBooks. I'll be around to help you anytime. All the best!

4 Comments
Community Contributor *

Re: Same Vendor Different business lines

The issue with creating different vendors is that I cant change the vendor name of past bill pmt checks.

Moderator

Re: Same Vendor Different business lines

Thanks for posting here in the Community, @Ilovecashflow.

 

Based on the information you've provided, creating three vendors (third solution) is the best way to track the balance of each business line. Once you do this, you can delete those previous bill payment checks. Then, open the bill and edit or change the name to the correct vendor (business line) and pay the bill again.

 

To create a vendor:

 

1. Go to the Vendors menu.
2. Pick Vendor Center.
3. Click New Vendor drop-down, then New Vendor again.

84.PNG
4. Enter the name. You can add the business line after their names because QuickBooks doesn't allow duplicates.
5. Enter the other necessary information, then OK.

 

To delete the bill payment checks:

 

1. Go back to the Vendor Center.
2. Locate the vendor and the Bill Payment Check (Bill Pmt -Check).
3. Double-click to open.
4. Select the Delete (X) option at the top.
5. Pick Delete Check.

85.PNG

 

Once done, open the bill and edit or change the name to the correct vendor:

 

1. On the Vendor Center, locate the vendor and the Bill.
2. Double-click to open.
3. Change the vendor name.

86.PNG
4. Hit Save & Close.

 

 

After that, pay the bill again:

 

1. Go back to the Vendors menu.
2. Pick Pay Bills.
3. Select the bill, then click Pay Selected Bills.

87.PNG

 

That should point you in the right track. I'm also including these articles for additional resources:

 

 

Please let me know how everything goes in the comment section. I'm always here should you have any follow-up questions. Take care and have a good one.

Community Contributor *

Re: Same Vendor Different business lines

Thank you @FritzF for the answer. very helpful. How can I do if the past checks has been cleared? Deleting them will break my bank reconciliation.

Should I create 2 GJ entries to move the cleared bill pmt checks from one account to another using a suspense account?

QuickBooks Team

Re: Same Vendor Different business lines

Welcome back to our forum, @Ilovecashflow,

 

It's great to know that the steps provided by my colleague FritzF worked for you. On his behalf, I'd love to provide the clarification you're looking for.

 

You're right. Since deleting cleared transactions can affect your previous reconciliation, you can transfer funds by creating journal entries. Before proceeding, I recommend consulting with your accountant first. This is to ensure it will not throw off your financial records.

 

Perform these steps to create a journal entry in QuickBooks Desktop:

 

  1. Go to the Company tab.
  2. Choose Make General Journal Entries.
  3. Complete all necessary fields.
  4. Click Save & Close.

To guide you on how to create a clearing account, check out this article: Set up a clearing account

 

That should do it. Please update me if you have other questions about QuickBooks. I'll be around to help you anytime. All the best!