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Senior Explorer **

Bill payment

I wanted to know If I am entering a bill payment with an earlier date will I be charged again If that date is before reconciliation?

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Best answer 06-14-2019

Accepted Solutions
QuickBooks Team

Re: Bill payment

Hello there, @Malakan bookkeeping,

 

If you enter a bill payment in QuickBooks, your bank account won't be charged even if it's connected in the system. This is for recording purposes only.

 

Since your bank account is already connected, QBO downloads your bank transactions automatically. You can also manually update your account by going to the Banking page from the left menu, then click Update.

 

Your payments are then posted in the For  Review tab on your banking feeds. What you need to do is match the downloaded bank transactions to avoid duplicates.

 

Should you need anything else with your payment charges, please let me know. I'd be glad to provide the information you need.

View solution in original post

3 Comments
QuickBooks Team

Re: Bill payment

Hello there, @Malakan bookkeeping,

 

Thank you for joining QuickBooks Community.

 

If you are referring to the payment charge, it will post to the date indicated on the transaction. Say for example, if the payment is dated in June, it will show up on that month’s reconciliation.

 

In order for me to provide the best resolution, please let us know if you are referring to something else. Any information is highly appreciated.

 

For additional information about reconciling bank accounts, please read this article:

How to Reconcile Accounts 

 

If you need anything else regarding reconciliation, please post a comment in reply button below. Have a good one!

Senior Explorer **

Re: Bill payment

Yes I was referring to the payment charge.
Can you tell me please  If I am entering a bill payment on Quickbooks and my bank account is connected to Quickbooks , my bank account will reduce by that amount automatically ?

QuickBooks Team

Re: Bill payment

Hello there, @Malakan bookkeeping,

 

If you enter a bill payment in QuickBooks, your bank account won't be charged even if it's connected in the system. This is for recording purposes only.

 

Since your bank account is already connected, QBO downloads your bank transactions automatically. You can also manually update your account by going to the Banking page from the left menu, then click Update.

 

Your payments are then posted in the For  Review tab on your banking feeds. What you need to do is match the downloaded bank transactions to avoid duplicates.

 

Should you need anything else with your payment charges, please let me know. I'd be glad to provide the information you need.

View solution in original post

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