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Level 1

credit cards, statements, and the enter bills feature

Ok...I have Quickbooks Accountant Desktop, though not an accountant.  I would like a simple step by step on how to enter the bill when I receive my credit card statement.  The statement closing date is 09/11/20, payment due date is 10/04/20.  On the statement a payment was made on 09/04/20 and interest charge on 09/11/20.  

This is September's statement, October's payment.  Something is throwing me off and I cannot figure this out.  Let's make like I just received the statement.  I need to enter the bill and reconcile the account for September.   I know how to reconcile but have never used the thing that asks to make a bill for me.  Have read somewhere not to do that for some reason.  Anyhow will someone please just walk me through this process?

Thanks!

Jaymz

2 Comments
QuickBooks Team

credit cards, statements, and the enter bills feature

Thanks for sharing the details with me, @Jaymz.

 

I’d be glad to guide you on how to record a Bill in your QuickBooks Desktop (QBDT) Accountant software. Here’s how:

 

  1. Navigate to the Vendors menu.
  2. Select Enter Bills.
  3. Choose a Vendor from the VENDOR field
  4. Enter the date and due date.
  5. Select the appropriate tab.
    • Expense: if you are recording a bill for expenses incurred by the business.
    • Items: if you are entering a bill for anything that your company buys, sells, or resells in the course of business such as products.
  6. Choose the expense account or the item.
  7. Enter the amount from the AMOUNT column.
  8. Select Save & Close3.JPG

You can also check this article for more details about entering bills in QBDT.

 

Once done, you can now pay your bills to settle your payables. In addition to this, I’ve also added this link that can guide you in reconciling your accounts effectively in QuickBooks.

 

Let me know if there’s anything else I can help you with your QBDT software. I’d be more than happy to work with you.

Community Champion

credit cards, statements, and the enter bills feature

RE: I would like a simple step by step on how to enter the bill when I receive my credit card statement. 

 

The best practice is not to enter a Bill at all.  Instead, set up and create a Credit Card account and record the charges in it just like you would record checks in a checking account.

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