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Accounts Payable when I actually needed it to be recorded as an accrued expense

Everytime I set a Bill it goes to Accounts Payable when I actually needed it to be recorded as an accrued expense.

 

In case I'm doing it wrong, and in fact I shouldn't be setting it as a Bill, how do I record an accrued expense without having to go to the JE of AP > Accrued Account?

 

Help.

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Best answer 06-19-2019

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Established Community Backer ***

Re: Accounts Payable when I actually needed it to be recorded as an accrued expense

2 choices - 

You can use a 'regular vendor bill' to accure payables as long as you are carefull to mark them as such and not pay them!  When the actual bill comes you would just change the entry to make the amounts exact.

or

When accruing payables don't post them to the AP account - setup separate current liability account(s) for accurals.  Post a JE to set up the accrual. When the actul bill comes in you enter the bill as-received and then also post a new 'reversal' of the original je but with a current date.

1 Comment
Established Community Backer ***

Re: Accounts Payable when I actually needed it to be recorded as an accrued expense

2 choices - 

You can use a 'regular vendor bill' to accure payables as long as you are carefull to mark them as such and not pay them!  When the actual bill comes you would just change the entry to make the amounts exact.

or

When accruing payables don't post them to the AP account - setup separate current liability account(s) for accurals.  Post a JE to set up the accrual. When the actul bill comes in you enter the bill as-received and then also post a new 'reversal' of the original je but with a current date.

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