Hello there, semper. Let me give you an option on how to record the process of your transactions inside QuickBooks Desktop (QBDT).
To properly document the payment made by Billd.com to your vendor, you can set up Billd.com as a vendor in your system. Once done, you can transfer the payment received from Billd.com to your original vendor through a temporary clearing account. It will allow you to keep track of the payment made by Billd.com and ensure that it's recorded in your system. After that, you can make a Journal entry for the transaction.
- Select Make General Journal Entries in the Company menu.
- Have Accounts Payable with the transferrable amount in the first line. Choose the vendor from whom the credit is coming from the Name column.
- On the second line, debit the Clearing account created in the clearing account with the same amount.
- Select Save & Close.
After that, apply the credit to the Journal Entry as an unpaid bill.
- In the Vendors menu, select Pay Bills.
- Choose the bill created by the Journal Entry. Note that it will appear without a due date.
- Click Set Credits.
- From the Credits tab, select the credit and choose Done.
- Hit Pay Selected Bills.
If done, you can now create a Journal Entry to move the credit from the clearing account to the vendor.
- Select Make General Journal Entries in the Company menu.
- Debit the Accounts Payable with the transferrable amount. Select the vendor who will receive the credit in the Name column.
- Credit the Clearing account with the same amount on the second line.
- Click Save & Close.
To record your payment to Billd.com, you may reach your accountant to ensure that the process is correctly done. Your accountant can guide you in recording the transaction and advise you on any adjustments or corrections that may be required. They will also help you to choose the most suitable method for recording based on your specific accounting needs and preferences.
Moreover, you can visit this link for an additional article on reconciling an account inside QBDT in the future: Reconcile an account in QuickBooks Desktop.
Let us know if you have more questions about recording transactions using QBDT. I'm here to assist. Take care!
