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Level 2

Unapplied cash bill payment expense when matching transaction with bill

Hello,

I see "Unapplied cash bill payment expense" on my  "profit and loss" report.

1. I created a bill with category "contractor" and "Travel expense"

    1.1 Please note that I am using sub-accounts for Contractor and Travel Expense for a specific vendor.

2. I paid through in ACH

3. I match the transaction reflected in "banking" with the bill previously created.

 

I am checking in QB and it recommends to use "pay bills", but I am wonder that if I use "pay bills" I have double entry accounting. 

Please your support to correct this. Thanks in advance.

2 Comments
Level 15

Re: Unapplied cash bill payment expense when matching transaction with bill

in QB when you enter a bill, then you use pay bills to associate the payment with the bill

 

If the ach entry used the same account as the reason for the payment, delete the bill

or

edit the ach entry and change the accounts listed to accounts payable, then use pay bills and apply the credit the ach made to the bill

Level 2

Overpaid paycheck using manual bank bill pay - how to match resolving transactions

Hello.  I pay two employees manually using our bank's online Bill Pay vs. payroll direct deposit.  I goofed a paycheck, depositing the gross amount vs. the net.  Wow.

To compensate, on the next payday I reduced the normal paycheck by the amount overpaid - not in QBO payroll, just in the manual bank online Bill Pay.  The employee now has the correct total deposit for these two paydays.

When trying to match these transactions, I figured out the overpaid 1st paycheck: "Find" the real payroll transaction, then click the Resolve button, plug in the overpayment amount - I put it under Payroll Expenses, seemed reasonable for now.  This works great....

For the 2nd paycheck with the deposit lower than the true paycheck, when I try a Find, it won't find the underpaid deposit at all, so no way to add in another Revolve amount to make it all add up.

If you have ideas on how to reconcile this small mess, I would appreciate it!

(This shows as a reply - I couldn't see how to start a new discussion - sorry!)

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