Splitting bills

rigojr-hotmail-c · ‎July 19, 2024

Dear QB Community,

I hope you're all doing well.

My boss was reviewing a vendor account and noticed that the previous accountant had a habit of registering a bill payment to many bills (same vendor). I know this is an acceptable practice, but my boss wants to see separate bill payments per every bill.

Is there a way to split one bill payment into two, to match 2 bills?

Thanks in advance!

Jelayca V · ‎July 19, 2024

Yes, you can split bill payments in QuickBooks Online (QBO), @rigojr. I'd be glad to help you achieve this.

If you have a corresponding downloaded bank transaction for the payment, you can consider deleting the Bill Payment transaction in the Vendors tab. This action will move the downloaded transaction back to the For review tab on the Bank transactions page. Here’s how you can do that:

Navigate to Expenses, then select the Vendors tab.
Select the vendor associated with the bill payment.
In the Transaction List, locate the bill payment.
From the Action dropdown, select Delete.

Once deleted, you'll want to directly match the downloaded payment transaction to the open or unpaid bills. This will apply individual bill payment transactions to close out each of the unpaid bills.

However, if the bank account isn't connected to QBO, you can consider deleting the Bill Payment transaction, and then use the Pay bills for each of the unpaid bills at issue. To do that, here's how:

Click +New, then Pay bills.
Select a bill you'll want to pay.
Ensure all the details such as the Payment account, Payment date, PAYEE, and PAYMENT amount are correct before you hit Save and close.

I also want to share this resource that you can refer to any time about managing bill transactions and payments in QuickBooks: Manage bills and bill payments in QuickBooks Online.

You can always click the Reply button if you have questions about managing bills in QBO. I will always be here as well as the Community folks to help. Take care.

View solution in original post

Irene R · ‎July 20, 2024

Allow me to chime in on this thread, Rigojr. And help with your banking concerns in QuickBooks Online (QBO).

After splitting up the bill payment, it will directly go into the For Review tab since it'll be considered as new different transactions. We need to use the matching feature in order to consolidate your $5,000 bank transaction with the two separate $2,500 bill payments. This process ensures that each bill payment is accurately linked to the corresponding bills, providing a clear overview of your financial transactions.

Here's how:

Go to the Bank transactions page, then choose the bank your transactions belong to.
Look and click for the $5,00 transaction, then select Match.
Once you're on the matching page, ensure the dates are accurately aligned to the transactions you want to match.
Select the two bill payments by marking the box beside it, then click the Match tab.

You can refer to this article for more information and guidelines when matching your transactions: Match online bank transactions in QuickBooks Online.

Additionally, these helpful materials may be of use to you if you intend to reconcile your account:

Don’t hesitate to return this thread if you need further assistance matching your transactions or QBO-related inquiries, Rigojr. The Community is always here to help you anytime. Have a good one!

View solution in original post

Jelayca V · ‎July 19, 2024

Yes, you can split bill payments in QuickBooks Online (QBO), @rigojr. I'd be glad to help you achieve this.

If you have a corresponding downloaded bank transaction for the payment, you can consider deleting the Bill Payment transaction in the Vendors tab. This action will move the downloaded transaction back to the For review tab on the Bank transactions page. Here’s how you can do that:

Navigate to Expenses, then select the Vendors tab.
Select the vendor associated with the bill payment.
In the Transaction List, locate the bill payment.
From the Action dropdown, select Delete.

Once deleted, you'll want to directly match the downloaded payment transaction to the open or unpaid bills. This will apply individual bill payment transactions to close out each of the unpaid bills.

However, if the bank account isn't connected to QBO, you can consider deleting the Bill Payment transaction, and then use the Pay bills for each of the unpaid bills at issue. To do that, here's how:

Click +New, then Pay bills.
Select a bill you'll want to pay.
Ensure all the details such as the Payment account, Payment date, PAYEE, and PAYMENT amount are correct before you hit Save and close.

I also want to share this resource that you can refer to any time about managing bill transactions and payments in QuickBooks: Manage bills and bill payments in QuickBooks Online.

You can always click the Reply button if you have questions about managing bills in QBO. I will always be here as well as the Community folks to help. Take care.

rigojr-hotmail-c · ‎July 20, 2024

Dear Jelayca V,

Thanks so much for your help. So far I was able to split the "bill payment" in 2, to correspond 2 bills without any difficulty.

Here's a follow up question: In the "Bank transactions" section of QB, the bill payment that I split reappeared and needs to be matched or categorized (before splitting the bill payment I had selected "match"). But now since the amount withdrawn from bank ($5,000) doesn't match any particular bill (because there are 2 bills for $2,500 each), what should I do? I see a "split" button -am I supposed to use it? if so, how?

I really do appreciate all your help and patience. Thanks a million

Irene R · ‎July 20, 2024

Allow me to chime in on this thread, Rigojr. And help with your banking concerns in QuickBooks Online (QBO).

After splitting up the bill payment, it will directly go into the For Review tab since it'll be considered as new different transactions. We need to use the matching feature in order to consolidate your $5,000 bank transaction with the two separate $2,500 bill payments. This process ensures that each bill payment is accurately linked to the corresponding bills, providing a clear overview of your financial transactions.

Here's how:

Go to the Bank transactions page, then choose the bank your transactions belong to.
Look and click for the $5,00 transaction, then select Match.
Once you're on the matching page, ensure the dates are accurately aligned to the transactions you want to match.
Select the two bill payments by marking the box beside it, then click the Match tab.

You can refer to this article for more information and guidelines when matching your transactions: Match online bank transactions in QuickBooks Online.

Additionally, these helpful materials may be of use to you if you intend to reconcile your account:

Don’t hesitate to return this thread if you need further assistance matching your transactions or QBO-related inquiries, Rigojr. The Community is always here to help you anytime. Have a good one!

rigojr-hotmail-c · ‎July 26, 2024

Hi @Irene R , thanks for your response! You've help me a lot!

Here's another follow up question, if you don't mind: There's a coworker that wants her salary split among two bank accounts: Bank A: $2,000 and Bank B: $450. Additionally she purchased office equipment so she's going to get reimbursed for $50 -this is to be deposited in Bank B.

In her account I have 2 bills, 1 for $2,450 which is her salary, and another for $50 which is office equipment ($2,500 total).

After paying via wire, I have a payment for $1,550 to Bank A, and another payment for $500 to Bank B.

My issue is in the Bank Transaction in QB, I have 2 transactions that I can't match, 1 for $1,550, and another for $500.

How can I resolve this? please

RheaMaeH · ‎July 26, 2024

I appreciate you for coming back, Rigojr. Let me provide details about matching your bank transactions to ensure they are recorded accurately in QuickBooks Online (QBO).

To begin with, please note that you can't match transactions if the amounts differ. It seems there is a $450 discrepancy. However, if this amount remains unpaid, you can manually clear the transaction in your bank register. Here’s how:

Navigate to Transactions and then click Chart of Accounts.
Click the View Register link for the bank account.
Locate the transaction you want to clear and click the letter C (Cleared) in the checkmark column.
Edit the transaction and then click Save.

Then, let's exclude $2050 from your bank feeds by following these steps:

Go to the Bank Transaction.
Find the transaction you want to exclude.
Select Exclude from the options.

For future reference, you can reconcile your account regularly so they always match your bank and credit card statements.

Feel free to post here again if you have further concerns about matching your transaction. We are available 24/7 to lend a hand with each of your queries.

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