cancel
Showing results for 
Search instead for 
Did you mean: 
stephanie-dupuis
Level 1

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

 
9 Comments 9
Regina_Lend_A_Hand_Accounting
Level 9

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

Can you be more specific? You control the account that a bill posts to, so if a bill is posting to a balance sheet account the account you selected was setup as a balance sheet account.

stephanie-dupuis
Level 1

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

After creating a bill, or bill payment, it is erroneously showing up under Accrued Trade Payables on the Balance Sheet

HoneyLynn_G
QuickBooks Team

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

Hello there, @stephanie-dupuis.

 

Thank you for getting back to us and providing extra details. I can help you correct the posting account of the bills.

 

First, let's open and run the transaction journal of the bill. This will help you verify the posting account of the item.

  1. Open the bill.
  2. At the bottom, click More.
  3. Choose Transaction Journal.

 

To change the posting account from Accrued Trade Payables to the correct one, you'll have to modify the item's accounts:

  1. Click Sales.
  2. Choose Products and Services.
  3. Look for the item.
  4. Click the Edit link under the Action column.
  5. Update the account information.
  6. Click Save and close.

That should update the posting account of the item, stephanie-dupuis.

 

Let me know if there's anything else you need about reporting or items. I'm still here to offer additional help. Wishing you all the best!

stephanie-dupuis
Level 1

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

Please Note:  The transaction is linked to the correct account, but is erroneously listed under Accrued Trade Payables in the Balance Sheet

Anonymous
Not applicable

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

Hi, @stephanie-dupuis.

 

Thanks for getting back to us and letting us know about the incorrect account on your balance sheet. Allow me to help provide further information about your issue.

 

Accrued Trade Payable may have become the default Accounts Payable in your QuickBooks account. All the vendor balance will be accrued and totaled under that default account if that's the case.

 

You can check out these helpful articles for more details in managing your default accounts in QuickBooks Online:

 

How to manage default and special accounts in the Chart of Accounts

How to group Accounts Receivable or Accounts Payable account types

 

We've recently updated our support experience in QuickBooks Online. You can reach out to our support team if you need immediate assistance in going through the steps. Just follow the steps provided in this link: Contact the QuickBooks Online Customer Support team.

 

Please know, that I'm just a post away if you have other questions about your accounts in QuickBooks. I'm always ready to help.

Trooper45
Level 1

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

When I post a bill it credit's 'tips payable' rather than letting me choose which payable account it goes to.

RoseJillB
QuickBooks Team

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

I appreciate you for joining this thread, @Trooper45.

 

QuickBooks Online (QBO) provides an option to select accounts when posting or creating bills in your account to organize your books. If you’re in the Bill window, an option to select a category should be available in the Category details dropdown.
bills.PNG

 

If you’re still unable to see the option, we can perform some troubleshooting steps to eliminate common errors that prevent the application to run smoothly. 

 

To open an incognito window, you can follow these keyboard shortcuts:

 

  • Press keys: Ctrl + Shift + P (Mozilla Firefox & Microsoft Edge browser)
  • Press keys: Ctrl + Shift + N (Google Chrome browser)
  • Press keys: Command + Shift + N (Safari browser)

 

Once done, please log into your account to a regular browser. After that, I suggest deleting your browser cache to refresh the system. If the same thing happens, I recommend using other supported browsers. This way, we can identify if this is a browser-integrated issue.

 

Moreover, a more detailed view of your business and profit is provided by entering your income and expenses. Thus, you can refer to this article for reference: Enter and manage bills and bill payments in QuickBooks Online.

 

Fill me in if you have more concerns about logging in and managing your account. The Community always has your back. Have a good one!

Trooper45
Level 1

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

Yes, I see that I can choose the Debit (or maybe Credit) side of the bill.  What I am wanting to control without doing a journal entry is the other side of the side of the entry.  In my case I have a list of various Food costs that come with the invoice.  I import the invoice and all the GL codes are there.  Great,, but, when I look at the entry QBO is using my Tips Payable account which I don't want it to use.  

 

Any ideas how I can tell the program to use my Bills Payable account rather than my Tips Payable account?

Tori B
QuickBooks Team

Is anyone having issues with balance sheet, where posting a bill is showing up under wrong account?

Hi there, @Trooper45.

 

Thanks for checking back with us. 

 

The same thing will play out when using Journal Entries, as my colleague mentioned above. You'll need to manually choose what accounts you're moving the money to and from. To reference, I've gone ahead and included some steps to create a journal entry below. 

 

  1. Select + New.
  2. Choose Journal entry.
  3. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
  4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
  5. Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
  6. Enter information in the memo section to know why you made the journal entry.
  7. Hit Save and new or Save and close.

 

For additional information about this process, check out Create Journal Entries in QuickBooks Online

 

If you have further concerns about your accounts, I recommend consulting with your accounting professional. Your accountant can advise the best way to record the data based on your business needs. If you don't have an accountant, don't sweat it. You can find one here in our Resource Center

 

Please let me know if there is anything else I can assist you with. I'm always here to lend a hand. Take care! 

Need to get in touch?

Contact us