Solved

We really need a space for bill date and posting date! They are many times not the same and because I need an invoice posted in a certain month, I need to put in a false invoice date.

Forum|Forum|7 years ago
December 28, 2018
11 replies
6 views

There should be two different date boxes when entering bills to be paid. A bill from a vendor could have a date of 12/1 but the service was really in Nov, so I want to post it in November, but the post date is driven by the "bill date", which is very frustrating. Why can't there be an 'invoice date" and a "posting date", with a default to the invoice date unless something is entered? This is a basic feature of any accounting system and would be very easy to fix!

QuickBooks Online

Best answer by lsefcik

Malcom Ziman,

I respectfully disagree that the vendor's bill date isn't important in an accounting system. Say a vendor provided a service in the month of November. I would want to "book" that expense in the month of November (the old matching principal). However, if the vendor doesn't invoice me until 12/15 and has 30 day payment terms, that vendor bill isn't due until 1/15. Service date and billing date are generally two different periods and people who book invoices just when the vendor bill arrives are actually more on the cash basis than on the accrual basis. It would be a very simple fix for QB to have a service date/GL Posting date (to get the expense correct) and a bill date. Since terms for that vendor are already set up in the vendor profile, once we enter the vendor invoice date correctly, the AP due date will automatically populate. This is the way accrual accounting should work. And this wouldn't be a difficult fix for QB to make!

IamjuViel

Level 8

Glad to see you here, @lsefcik.

Allow me to share some information on how QuickBooks Online records the invoice you received from your vendors.

When your vendor send you an invoice, you’ll record it on QuickBooks Online as a bill, since it is your payable. The invoice date you’d see is the bill date you must enter in creating a bill in the system. However, if you choose to use the actual date when you avail the service as the bill date you can actually do so. Then, use the invoice date as the due date on the invoice. By doing so, it will not mess up the integrity of your AP aging.

On the other hand, posting date refers to the date when your payment was cleared by your bank.

Please don’t hesitate to reach out to the Community if you have other questions about creating a bill. Cheering you to continued prosperity.

L

lsefcikAuthor

I think you are saying if the "bill" was for November, use 11/30 as the "bill" date, but if the bill is actually dated 12/2 and they have 30 day terms, change the due date to be 1/2. Am I understanding you correctly? By doing this the bill is posted (expensed in the ledger) in the proper month. Is that what you are saying? Thanks, that is the work around I've been doing, but I think there should be a box for which month/date you want this to post to the ledger. I can work around it though; just trying to improve the system so we don't outgrow it.

Rose-A

Level 10

Welcome to the Community, lsefcik.

Allow me to share some information about the bill date and posting date in QuickBooks Online.

Choosing a month/date to post the transaction to the ledger isn't currently offered in QuickBooks Online. The date used when creating the transaction is the date will be reflected on the report.

I can definitely see how this feature would be useful. As a team with a massive roadmap, we have to pick new features based on the value they’ll add to the most users possible.
I'll be sure to submit feedback on your behalf. This will notify the Product Development Team that the option for choosing a month/date when entering a bill would be beneficial to running your business.

If I can be of help while working in QuickBooks, feel free to let me know by adding a reply below.

M

Malcolm Ziman

Level 4

@lsefcik wrote:

This is a basic feature of any accounting system

An accounting system has no reason to concern itself with the the vendor's bill date, as it is irrelevant. It is the service date (or goods delivery date) that determines the accounting entry. This is usually the the vendor's bill date.

The Due Date (which is probably later then the vendor's bill date) is also important in order to run an AP aging report, and plan cash flow. It is of course an available field in an accounting system

HoneyLynn_G

Level 6

Thanks for giving your feedback, @lsefcik.

We highly appreciate all suggestions from our subscribers. I want to let you know, I hear you loud and clear. Our priority is to help you be successful in your business and optimize your work time and space.

All product enhancements and feature releases are based on how much it benefits the totality of users. I already sent a feedback statement on your behalf to our engineers.

For now, I encourage visiting our blogs to stay current on all the QuickBooks new and announcements.

Let me know if there's anything else you need by clicking the Reply button. Have a wonderful day!

A

Antdavs24

Since feedback is shut off and im currently having this issue as well I felt obligated to back up the OP on this feature.

I recently switched to QBO and can't believe there's no way to offset the posting vs. invoice date. I recently closed my fiscal year 9/30. Obviously there are still expenses that we will be receiving that will be dated before that 9/30 date, because that's how the postal system works.

So now I have no options but to post this with the billing date (because for audit purposes that's what needs to be done), and constantly have my prior fiscal year figures altered. Closing the books is not an option because how can I report these expenses then if the period I'm posting in is closed, again without altering the billing date.

C

cseale

It is unbelievable that QB does not have the capability of posting an invoice to the GL in a different period than the invoice date. This is accrual accounting 101. It is also unbelievable that this functionality has not been added even though the original post was made over a year ago. This is a major flaw in QB and in my opinion is justification for anyone considering using QB to choose another solution. Come on QB......FIX THIS ISSUE!!

M

mmurrell

I am having the exact same issue. Has QBO addressed this yet?

L

ljbellars

This feature is needed, I'm a UK chartered accountant and I cant prepare accounts with ease without this. might change accounting packages due to this alone - I also will not be recommending until resloved

B

bell22022

Yes, a separate posting date and invoice date is a much needed feature.

T

TirzahC

Level 4

Welcome to this conversation,@clapel76. I appreciate you for sharing your sentiments with us.

At this time, the date warning option for future transactions is not available in QuickBooks Online. Please know that your voice matters. QuickBooks enhancements are largely the results of feedback provided by users like you. Thus, I suggest sending your feedback to our Product Development. This way, we can improve your QuickBooks experience. Here's how:

Select the Gear icon at the top, then Feedback.
Enter your comments or product suggestions. Then select Next to submit feedback.

In the meantime, I recommend visiting our QuickBooks Online Blog to get recent news and feature updates. I’ll let you know if there are any changes by updating this thread.

You can check this how do I submit feedback? article for more information.

Let me know if you have additional questions or concerns. I'm always here to help in any way I can.

C

Chris H 12

Honestly how has this not been addressed yet? It's been two years...

R

rshires

Thanks for joining and for sharing your sentiments in this conversation, @rshires.

The option to have a different posting date for your invoice is still unavailable in QuickBooks. I'll make sure your requests will get to our developers.

You also want to send feedback directly to our product developers to personally suggest this feature to QBO.

Here's how:

Go to the Gear icon, then coose Feedback.
Enter your comments or product suggestions. Example: Need an option to have a different posting date for an invoice.
Then click Next to submit feedback.

Leave a comment below if you have any follow-up questions. I'll get back to you right away.

Hi Katherine. I did as you suggested and provided feedback to the developers. Is there anything else we can do to get this request prioritized?

F

frank1003

Hi all,

We all SHOULD know QB is not really for professional use... so before you all go reading all the messages and complaints here, KNOW that QB's only response is WYSIWYG.

Yours Truly,

Calaspade Aspade.

B

Brenda D

Does QBO currently use the invoice date or the service date to post the revenue? The invoice date should determine the due date and the service date should determine the month in which it posts to on the Profit and Loss. Which date determines the posting period?

K

Kevin_C

Moderator

Thanks for chiming in on this thread, @Brenda D.

In QuickBooks Online (QBO), the invoice date determines the posting period of the invoice transaction into the Profit and Loss report. The option to use the service date as the posting period for the revenue is unavailable.

I recognize how beneficial it is for you and your business that an invoice date should determine the due date, and the service date should be the posting date of the revenue. For now, I'd recommend sending a feature request to our Product Development Team. Check out this article for your reference: How to Submit Feedback.

Moreover, you can check out the detailed steps in this article to learn more about personalizing and adding specific info to your invoice and other form styles in QBO: Customize invoices, estimates, and sales receipts in QuickBooks Online.

Please post again or comment below if you have any concerns about managing invoices in QBO. I'm always here to lend a helping hand. Stay safe!

D

DS TCS

New user here. I've only been using Quickbooks for a week, and it's hard to understand how this feature doesn't exist. Please add this feature.

L

lin_jcaj

Level 9

We value your interest in having the posting date feature on a bill, DS TCS.

We also recognize that this feature would help make your accounting processes more efficient and that this limitation may be inconvenient to all of you.

I recommend submitting additional feature requests to our development team, asking for the ability to incorporate the option. Our team takes customer suggestions when planning future updates and improvements to the software. Please be aware that our customers have made several requests for new features, and some may take some time to implement based on the demands and amount of requests.

Here's how:

Go to the Gear icon at the top.
Select Feedback.
Enter your comments or product suggestions. Then select Next to submit feedback.

We value your input in determining the priority and implementation of features that meet our users' needs.

Furthermore, consider checking this article that provides valuable insights into managing your bills: Enter and manage bills and bill payments in QuickBooks Online.

If you require additional help managing your bills or any concerns, post the details below. I am available to assist you and offer the guidance you need. Take care!

P

Princesstiki2

@lin_jcaj"We also recognize that this feature would help make your accounting processes more efficient and that this limitation may be inconvenient to all of you."

This is more than "convenience" and "a feature request" This goes to Quickbooks inability to create financial statements that comply with generally accepted accounting principals and procedures that would be acceptable in an audit. This is one of the main reasons so many businesses "outgrow" Quickbooks quickly and move on to financial systems that provide basic capabilites.

Show more replies

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded