cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Get your Payroll questions answered by a QuickBooks Product Manager here - intuit.me/31Nl3My
farmgirlkent69
Level 3

Processing payments without invoices

 Hi there.  I have recently set quickbooks up from January 2020 and I have around 20 payments which my boss has mislaid the invoices for.  I could call all the companies but with Covid a lot don't have access to them.  Is there any way I can perhaps put these payments into a suspense account? Or should I put them onto the correct supplier account?

Many thanks for any help.

L

3 REPLIES 3
EmmaM
QuickBooks Team

Processing payments without invoices

Hello farmgirlkent69👋, You could do either it depends on how you want them to show in terms of reports. To confirm these are suppliers that have been paid that you want to record the expenses of but as you have no bill not record the details just the deduction from the bank/creditor adjustment? Have you recorded an open balance on the suppliers in question?

 

farmgirlkent69
Level 3

Processing payments without invoices

Hi Emma

I haven't done anything with them yet.  My problem is, I know they will all have vat but trying to get copies of old invoices is impossible.  I thought I may well put them onto each supplier account and show that the invoices are not available.  We are such a small company that our accounts are very simple but this is driving me mad! 

EmmaM
QuickBooks Team

Processing payments without invoices

Hi farmgirlkent69,  So you could certainly create a chart of account(liability) to put them in with an open balance of the amount that was owed in Jan and for example do a journal entry decreasing the bank account and reducing the liability so that will then show on the balance sheet for the liability and asset(bank account) However that would not show against the suppliers themselves so the best option is to do a journal entry affecting the creditors.

To do this you could create an open balance on each supplier as of Jan 2020 using the journal entry feature which is in the + icon in the top right(you can put a date on journal entries). It is a case of then using open balance equity on one side of the journal and creditors on the other side>then selecting each supplier name against the word creditor for example line 1, 2,3 4, etc would be creditors just selecting a different supplier name and account and typing in the amount and then the final line would be open balance equity(sometimes called retained profits balance forward) which would be on the other side of the journal and it will total up that side to match the creditor's side with the total. Once done you can do another journal entry like the first one decreasing the bank account and then decreasing the creditor(again naming each supplier) I take it the VAT returns are up to date and you are not looking to do VAT return from Jan in QuickBooks? If you are unfamiliar with journal entries it may be worth speaking to an accountant to help or we can go through them in more detail here but it is worth checking your accountant is happy for you to record this in this way.

It really depends on what you need to have recorded(do you want expense accounts/products services to be impacted for example) f you need any help on this further please do not hesitate to come back here.