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Frequent Explorer **

payment date in bill payment

Hi

We use our bank billpay to send payment to our vendors. when I make payment in QB should I enter the payment date as the date the check was sent by the bank or the date the check was deposited by our vendors. pl let me know.

 

5 Comments
QuickBooks Team

Re: payment date in bill payment

Hi @lak9,

 

Glad to have you here in the Community. Let's make sure you're able to create and record a payment in QuickBooks Online (QBO) correctly.

 

Since you're paying your vendors using your bank's bill pay, you'll need to record and enter the date when the bank actually sent the check for payment.

 

I'm glad to inform you know that you can also pay your bills using Online Bill Pay (powered by Bill.com) right from within your QB Online. You can also read through our help article to know more about the key benefits and how it works. Here's the link: https://quickbooks.intuit.com/community/Help-Articles/What-is-Online-Bill-Pay/m-p/186144.

 

Feel free to post again if you have other concerns. We're always delighted to help. All the best!

 

 

 

 

 

Frequent Explorer **

Re: payment date in bill payment

Sure thanks a lot for the reply. I will enter the date on which the bank sends out the payment. thanks again!!!

Frequent Explorer **

Re: payment date in bill payment

I have another question regarding "receive payment".

some of our customers pay us with discount (1% - 4%).

when I use receive payment option, how can I enter the discount part? Please let me know.

 

thanks

 

 

Frequent Explorer **

Re: payment date in bill payment

Hi

 

1.When we send checks without receiving any bill how to enter that in QB.

Example: We do send checks to "department of homeland security" for H1 B visa processing and other state tax checks. Need to know how to enter this.

 

2. when there is automatic payment from bank every month how to enter that in QB. 

Example: for our bank loan monthly payment, insurance and 401K there is an automatic debit in our account every month. how can I enter this in QB. Should I create an invoice and account this?

 

QuickBooks Team

Re: payment date in bill payment

Hello there, @lak9.

 

Let me help you enter those transactions in QuickBooks.

 

When receiving payment, you can enter the discount by creating a credit memo and it to an expense or contra-income account called Early Pay Discount. 

 

Here's how to enter a credit memo:

 

  1. Click the Plus (+) icon.
  2. Select Credit Memo.
  3. Choose the customer.
  4. In the Product/Service column, select an expense or contra-income account.
  5. Enter the amount.
  6. Click Save and close.

Once done, you can apply the credit memo to the invoice in receive payments. You can read through this article for your reference: Enter and Apply a Credit Memo or Delayed Credit.

 

With regards to your visa processing and other state tax, you can create a normal checks to record the transactions. However, I suggest seeking help from your accountant for categorizing the transactions.

 

Also, you can set up a recurring expense to record your monthly payment in QuickBooks. To do that, please follow the steps below:

 

  1. Click the Gear icon.
  2. Choose Recurring Transactions.
  3. Select New.
  4. Choose Expense, then click OK.
  5. Enter the details of the expense.
  6. Click Save template.

Please be aware that this feature is currently only available in QuickBooks Online Plus. I'm including an article with additional insight on this: How To Create Templates For Recurring Transactions.

 

Please know that the Community is always here, so please let us know if you need anything. Have a good one. 

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