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kent-kuntz
Level 2

How to split a payment or withdrawal from my Bank account into multiple Vendors? I made a single payment from my bank account to my paypal account for a Mass Payment.

 
Solved
Best answer June 11, 2020

Best Answers
john-pero
Community Champion

How to split a payment or withdrawal from my Bank account into multiple Vendors? I made a single payment from my bank account to my paypal account for a Mass Payment.

Are or were the vendor Bills already entered in Quickbooks and you need to apply a single payment to all? Or are these considered just payments to the multiple vendors? 

 

Technically all you did in QB was transfer funds from your bank account to your Paypal account (which might not even exist in your company file)

 

A single bill payment cannot be split among more than one vendor (yet)  but a workaround exists whether you cut a single check to a vendor with affiliates or to your Paypal to pay multiple vendors.

 

Start by adding a new Clearing bank type account if you do not yet have one.  It can come in handy form time to time. Next, enter Pay Bills and select all of the vendor bills being paid (and correct any amounts less than billed) and pay these from th new Clearing account. Assign numbers to the payments if you wish,not necessary.

 

Then record your bank transfer to PayPal as a single deposit to the Clearing account. Clearing account balance should now be at zero.

 

If you already have PayPal as a bank account in your company file you can skip the clearing account and pay th bills directly from Paypal and make the appropriate record of transfer

View solution in original post

5 Comments
john-pero
Community Champion

How to split a payment or withdrawal from my Bank account into multiple Vendors? I made a single payment from my bank account to my paypal account for a Mass Payment.

Are or were the vendor Bills already entered in Quickbooks and you need to apply a single payment to all? Or are these considered just payments to the multiple vendors? 

 

Technically all you did in QB was transfer funds from your bank account to your Paypal account (which might not even exist in your company file)

 

A single bill payment cannot be split among more than one vendor (yet)  but a workaround exists whether you cut a single check to a vendor with affiliates or to your Paypal to pay multiple vendors.

 

Start by adding a new Clearing bank type account if you do not yet have one.  It can come in handy form time to time. Next, enter Pay Bills and select all of the vendor bills being paid (and correct any amounts less than billed) and pay these from th new Clearing account. Assign numbers to the payments if you wish,not necessary.

 

Then record your bank transfer to PayPal as a single deposit to the Clearing account. Clearing account balance should now be at zero.

 

If you already have PayPal as a bank account in your company file you can skip the clearing account and pay th bills directly from Paypal and make the appropriate record of transfer

View solution in original post

kent-kuntz
Level 2

How to split a payment or withdrawal from my Bank account into multiple Vendors? I made a single payment from my bank account to my paypal account for a Mass Payment.

John-Pero,

 

Many thanks for your help and feedback.    

 

The Bills are not already entered in Quickbooks.   This is just one payment that is going to Paypal who then splits that payment to multiple vendors.

 

Your workaround makes sense, except I don’t understand how to change the payment I made from my bank to Paypal?     It is currently recorded as a check in my register.    I don’t see how to change this transaction to “a single deposit to the clearing account”.

 

Many thanks for your further explanation to fix this? 

 

-Kent 

ReymondO
QuickBooks Team

How to split a payment or withdrawal from my Bank account into multiple Vendors? I made a single payment from my bank account to my paypal account for a Mass Payment.

Hi there, @kent-kuntz.

 

Since the payment was currently recorded as a check in the register, we can delete it so that you can change the payment account from the actual bank to the clearing account. 

 

Once done, you can now follow the steps provide by John Pero to apply the multiple payments using a single transaction. 

 

Then, use the clearing bank account you've created to pay the bills. After this, transfer the amount from your bank account to the clearing account. 

 

You can use the screenshot below as you're reference:

You can also run the Vendor Balance Summary report to view the total amount you owe to each vendor. Just go to Reports and search for Vendor Balance Summary.

 

That's it! Please let me know if there's anything else I can do to be of assistance. Have a great weekend!

kent-kuntz
Level 2

How to split a payment or withdrawal from my Bank account into multiple Vendors? I made a single payment from my bank account to my paypal account for a Mass Payment.

ReymondO, 

 

Many thanks for the feedback.    I think that all makes sense, but if I delete the check that is recorded from my bank, will that mess up my Reconciliation or will the transfer to the clearing bank correct that?  

 

Thanks and please confirm. 

-Kent  

AlexV
QuickBooks Team

How to split a payment or withdrawal from my Bank account into multiple Vendors? I made a single payment from my bank account to my paypal account for a Mass Payment.

Hello there, kent-kuntz.

 

You can manually reconcile the transaction you created. That way, it'll correct your reconciliation after deleting the first payment.

 

These are the steps to manually reconcile the single transactions:

  1. Go to the Accounting tab and select Chart of Accounts.
  2. Find the account and select View register.
  3. Select the transaction you created. Repeatedly click the box below under the check column and until you'll see the letter R.
  4. Click Save.

Refer to this screenshot on how it looks like:r.PNG

 

Leave a reply again if you have more questions. Have a great day!

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