Manage suppliers and expenses

For bills to be paid later, use Bill, then Pay bills. For expenses to be paid immediately or that have already been paid, use Cheque or Expense depending on how you made the payment. When to enter bills Enter bills from suppliers to accurately report your Accounts Payable, especially if you run your reports on an accrual basis. If tracking Supplier balances, entering bills is essential for knowing how much you owe your suppliers. Record a bill for any services or items received that you will pay for later - whether or not there is an actual bill received from the supplier. For example, when you receive your electric bill, which is not due until the end of the month, use Bill to track what you owe. Then, use Pay bills to clear the bill and generate the cheque. Learn how to enter bills to keep track of your payables. When to enter bill payments If you originally recorded a bill in QuickBooks, use Pay bills to close the bill. You can print a bill p

You can use templates to set up a recurring bill. Here's how to set up a recurring bill: Create a new bill or open an existing one. Fill in the data that you want to include on a recurring basis such as supplier, account or item details, description, amount, etc. At the bottom of the bill, select Make recurring. QuickBooks Online creates a copy of the bill and adds a "Recurring Bill" section so you can set the recurring bill's preferences. Enter a template name. From the Type drop-down, select one of the following: Scheduled: creates the bill automatically according to the schedule you specify. If you want to schedule the transaction... then... Every other week Select Weekly, then every 2 weeks. Twice a month Create two scheduled monthly transaction: one for the first transaction per month and one for the second transaction. Quarterly Select Monthly, then ever

There is no pop up explanation on the field and the words "Statement Text" as a shortcut for an idea are fairly meaningless.The field appears on the edit vendor details under the Bank Account Name once the "I create batch payments to pay this supplier" tickbox is ticked.