This is regarding vendor payments.
We will be paying for a badge for certain vendors and would like to deduct this from their pay until it is paid back.
How do you do enter this and track it within quickbooks desktop/quickbooks online?
For example, we might pay $215 for a badge, then each vendor check payment would be $100. I would like to track what they owe until it is paid back.
One check might be to pay $100. Then note the debit of $215. Subtract the $100.
Then the debt would be $115.
Then the next check payment would be for $100. But with their debt. They are actually not paid the $100. Their remaining debit would be $15.
The next check would be $100, but with their remaining debt, their net pay would be $75.
How can I do this is quickbooks desktop?
Please note all of the payments for this scenario will be associated with a specific customer job.
Thank you for your help in advance.
Hope you're doing good, @h2o_sea.
You can utilize the Billable expense feature to track the vendors debt and payments. Here's how:
Then, create a bill with multiple billable items by following the steps in this article: Enter bills. Once done, create an invoice:
You can then refer to this article to learn more about paying bills: Pay bills or payables.
Also, you'll want to check about Accounts Payable workflows in QuickBooks Desktop.
Add another post if you have follow-up questions, h2o_sea. Take care and stay safe.
Welcome back, @h2o_sea.
Let me ask for some clarification on your concern so we can assist you further.
Are you trying to pay your vendor in advance and use the credit for future bills? Can you also provide additional information about the vendor debt? Any further details would help us provide the best resolution to your concern.
Please touch base with me here for all of your QuickBooks needs, I'm always happy to help.
I appreciate you for sharing additional information, @h2o_sea. I'm here to guide you on how to track your vendor transactions and payables in QuickBooks Desktop (QBDT).
First, you can set up a clearing account to transfer the funds from one account to another. Here's how:
After that, enter an invoice to track the payable amount for the badges.
For other options in tracking the transactions, you may seek assistance from an accounting professional. They are the ones who can keep your book in place and help you record the transactions seamlessly.
On the other hand, you can get more tips while tracking your customer and vendor entries from these links:
If you have any other questions about tracking your vendor's debt, let me know by adding a comment below. I'm more than happy to help. Have a good one!
Hello again, @h2o_sea.
As I'm reading on the thread, I can see that you need to track your vendor transactions and payables.
As mentioned by my colleague Angelyn_T, you'll have to create an invoice to track the payable amount for the badges. By doing this, you can pay for the badge and then use the clearing account created for the payment.
Once the vendor makes a reimbursement, you can now deposit the money to the same account.
To know more about how you can track the money you owe to your vendors, you can consider checking this article: Accounts Payable workflows in QuickBooks Desktop.
If I can be of any additional assistance, please don't hesitate to leave a comment below. I'll always have your back.