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mechanic
Level 1

Supplier payment issue

Hi,

We are members of a buying group and most of my suppliers bill me via the group.

When making the payment I usually go into each separate supplier file, reconcile the invoices and then create the payment in quickbooks. I do this for each supplier. I then pay the buying group for the month's transactions. Once the payment appears in the bank feed I use the "find match" and match each supplier payment that I already made and it balances then I save it, all good.

The issue I have is that in September I split the buying group payment into 2 payments, so when I use the match feature each payment doesn't exactly match the supplier transactions leaving an imbalance to resolve. I'm just not sure how to treat the imbalance.

Thanks for any suggestions,

Cheers Glenn

1 Comment 1
ReymondO
QuickBooks Team

Supplier payment issue

Let me guide you on how you can match your downloaded banking transactions to the ones that you've created in QuickBooks, @mechanic.

 

You can create separate bill payments that have a similar amount to the transactions that you made with your supplier. This way, you can match them to your downloaded transactions on the Banking page. Please check out the following screenshot below as your reference:

supplier.PNG1.PNG

Here are the steps:

  1. Click the +New icon and select Pay bills
  2. Choose the name of the supplier in the Payee drop-down list.
  3. Enter the same amount that matches one of the downloaded transactions on your banking page.
  4. Fill out the rest of the field and select Save and close.

 

Once done, go to the Banking menu and match the transaction. Just follow these steps:

 

  1. Go to the Transaction menu and select Banking.
  2. In the For review tab, match the transactions to the bill payment.

banking.PNG

Additionally, as what's shown in the screenshot below, the system automatically creates a match which is equivalent to the difference of the total bill and bill payment that you've made in QuickBooks. 

supplier.PNG2.PNG

 I've also added an article that will guide you in reconciling your accounts so they would match to your bank and credit card statements: How to reconcile your accounts in QuickBooks.

 

If you have further questions or concerns, feel free to reach back out anytime. Just click Reply, and I'll get back to you. Stay safe.