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Recurring payables with variable amounts

I am entering recurring bills in QBO so that they will show on the accounts payable reports. Most of these recurring invoices are being auto-debited to a bank account or credit card. When the amounts are downloaded from the bank or credit card, I match them to the bill. However, sometimes the amounts are not the same every month and I have an amount left over in the outstanding bills. How can I get rid of this amount in AP after I have matched the bill to the payment? Thank you for your assistance.

1 Comment
QuickBooks Team

Re: Recurring payables with variable amounts

Hello there, @kpm2c3.

 

I can provide you with details to ensure you're able to resolve the Accounts Payable balance in your account.

 

First, let's run and compare your Bills and Applied Payments report and Vendor Balance Detail report

 

Here's how:

  1. Go to the Reports menu.
  2. Scroll down to the What you Owe section.
  3. Choose Bills and Applied Payments report and Vendor Balance Detail report

Compare the payments you’ve made and the bills that go with them with your outstanding balance. If there are overpayments on the other bills, we can create a vendor credit and apply it to the outstanding bills.

 

To create a vendor credit, here's how:

  1. Go to the Plus Icon (+).
  2. Choose Vendor Credits.
  3. Select the name of the vendor.
  4. Enter the date of credit and the amount.
  5. In the Account Details section, select the account used on the original bill.
  6. Enter the Category details or Item details. 
  7. Click Save and Close.

Once created, apply the vendor credits to the outstanding bill.

  1. Click the Plus Icon (+).
  2. Select Pay Bills.
  3. Choose the bill for your vendor from the list.
  4. Mark the Vendor Credits in the Credit Applied field.
  5. Click Save and Close.

You can refer to this article for more detailed instructions: Apply for a credit from an overpayment.

 

Let me know if you have other questions. I'm always here to help.

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