Is there is way in QB online to post supplier payment on account?
That is paying supplier ahead of invoice.
Similar to the above question, but instead of a credit applied to the account by the supplier, what is the correct way to account for Direct Debit payments made to a supplier's account, prior to receiving a VAT invoice from the supplier for the services. We are just finalising our VAT return, and will not have another invoice that falls into the period.
We have the payments going out of the bank, but nothing to be able to apply them to our energy suppliers account in QBO.
If your accounting basis is accrual, then you might want to record the bill first. It’s because the method records expenses when they’re incurred.
Lastly, I’d recommend consulting an accountant when doing so. This is to make sure everything is recorded correctly.
Our doors are always open if you need anything else.