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Tig
Community Contributor *

Changing Accounts for paying bills

So here is my problem.

 

When paying bills was set up by another user instead of it showing it went to accounts payable it goes to another account called transfer agent. How do I make my bills go against the correct account which is for accounts payable since it is a bill from a vendor?

 

Ex.

Bill is for vendor XZ for accounting expense

 

When it gets paid we owe nothing to XZ whoever my accounts payable wasn't affected it was my transfer agent account. 

 

How do I fix that in the system?

Solved
Best answer 06-21-2019

Accepted Solutions
QuickBooks Team

Re: Changing Accounts for paying bills

Hello there, @Tig.

 

A bill is an account payable type of transaction. It is the money you owe to vendors who have provided you with goods and/or services on credit.

 

When you create a bill in QuickBooks, you can enter a specific expense for the service you receive or enter an item list. It's possible that the other user set the expense account name for the service you receive as Transfer Agent

 

If so, you need not to worry as long as you have selected the correct expense account, your bill transactions will always be recorded under Accounts Payable. One you pay the bill, the balance in your Accounts Payable will also be credited.

 

However, it is also possible that the other user set up more than one Accounts Payable account and name one as Transfer Agent.

b3.jpg

As long as its account type is Accounts Payable, just make sure to select the correct AP account when creating and paying the bill. By doing so, the bill payment will be credited to the correct AP account.b4.jpg

 

You may check this article for the complete list of other vendor-related transactions, you may check this article: Accounts Payable workflows in QuickBooks Desktop.Accounts Payable workflows in QuickBooks Desktop.
 
If you're experiencing something else or you have other questions, feel free to leave your comments below. I'm always here to help.

View solution in original post

3 Comments
QuickBooks Team

Re: Changing Accounts for paying bills

Hello there, @Tig.

 

A bill is an account payable type of transaction. It is the money you owe to vendors who have provided you with goods and/or services on credit.

 

When you create a bill in QuickBooks, you can enter a specific expense for the service you receive or enter an item list. It's possible that the other user set the expense account name for the service you receive as Transfer Agent

 

If so, you need not to worry as long as you have selected the correct expense account, your bill transactions will always be recorded under Accounts Payable. One you pay the bill, the balance in your Accounts Payable will also be credited.

 

However, it is also possible that the other user set up more than one Accounts Payable account and name one as Transfer Agent.

b3.jpg

As long as its account type is Accounts Payable, just make sure to select the correct AP account when creating and paying the bill. By doing so, the bill payment will be credited to the correct AP account.b4.jpg

 

You may check this article for the complete list of other vendor-related transactions, you may check this article: Accounts Payable workflows in QuickBooks Desktop.Accounts Payable workflows in QuickBooks Desktop.
 
If you're experiencing something else or you have other questions, feel free to leave your comments below. I'm always here to help.

View solution in original post

Tig
Community Contributor *

Re: Changing Accounts for paying bills

Thank you.

I figured it out. When the accounts payable was set up the title got changed so I changed it back to accounts payable and that fixed the issue. It was just a label issue

QuickBooks Team

Re: Changing Accounts for paying bills

It's good to hear that everything is now up and running, @Tig.

 

I'd like to add some more resources that you can check out with handling bills and QuickBooks functionalities for your future reference:

Also, if you have concerns that needs live technical support, you can always reach out to our Customer Care Team

 

Please know that the Community got you covered with any queries about QuickBooks. Feel free to visit us here anytime. Wishing you and your business continued success!

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