We are a new business opening and we wanted to input all previous bills and payments we have made so we can keep our books accurate. When I spoke to customer service, they seemed lost as to what I am asking to do. I would like to put in a bill lets say that had a original balance of $42000 in May of 2017 and then show a posted payment of $21000 in Sept 2017. I wrote a manual check for this. I just want the vendor screen now to show the new deducted balance and all of these transactions to show up on the ledger. It has been a while since I have been on QB, but I remember we could enter a ton just from the ledger screen. Thanks for all help.
Hi Jennie. You have started a "new" business and want to enter "previous bills and payments"? Got me confused too. What do the previous bills have to do with the new business? A new business should have positive owner equity, not negative. If those bills were personal or from a sole proprietorship they have nothing to do with your new business entity. If you are converting from one type of business entity to a new one that's a legal transaction and may require legal and accountant help with the paperwork. Good luck!
We actually were in the construction phase and we were paying bills from our working cap acct by manual checkbook. Now that we are in office and have QB setup, I want to make sure I reflect all bills that we have paid for the office so we can reference them at any time.
That's all fine then Jennie. Before you can record the bill payments you have to set up the vendors you paid. Also create the expense or asset accounts that will be affected. And remember to get W-9's or I-9's from all the individuals/sole proprietors construction people you paid (not necessary for C corp companies). Once you have the vendors and accounts in place enter the bills manually. Then pay the bills from the Home page entering the check numbers from your manual register so everything matches up. Stamp those bills posted and then paid. Staple the check stubs if you have them to each paid bill. P.S. I recommend getting QB printable checks going forward. QB will automatically use the next check number in sequence and a lot faster than hand writing checks. Good luck!