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FMW
Level 3

Entering a vendor bill and making payment for a past period

Hello,

  I have an invoice from a vendor dated July 10 2020, with payment due net 30.  Unfortunately, I never entered the vendor's bill or payment. 

How would I enter a vendor's bill and for a  previous period so that it shows up in the correct period?  Or, if it's a "closed" period, how would I enter this bill without messing up the financial statements for the closed period?  Would I do this via JE?  if so, how?

Thank you,

FMW

QB Desktop, 2019 Premier

 

 

2 Comments 2
Pabz_L
QuickBooks Team

Entering a vendor bill and making payment for a past period

Thank you for posting here in the Community, @FMW.

 

You’ll just have to enter the bill along with the date you received from your vendor in QuickBooks so it will be recorded.

 

Here’s how.

 

  1. On the Home page, select Enter Bills.
  2. Select the vendor and the date you received the bill
  3. Choose the appropriate tab. 
  • Expense: if you are recording a bill for expenses incurred by the business (ex. Utilities, Rent, and phone/cable service).
  • Items: if you are entering a bill for anything that your company buys, sells, or resells in the course of business such as products, shipping and handling charges, discounts, and sales tax (if applicable).

 

      4. Select the appropriate account or the item then enter the amount.

      5. Once completed, click Save & Close.

 

If it’s a closed period, I recommend contacting your accountant so you’ll be guided on how to handle this situation.

 

 Here is an article that will help you understand about Journal Entry. Create a journal entry in QuickBooks Desktop.

 

 Let me know if you need further assistance. I am always here to help.

BigRedConsulting
Community Champion

Entering a vendor bill and making payment for a past period

The best thing to do in this case is usually to fix your data, to enter the bill as you would have using the date the bill was issued.

 

If you already paid it, then create the bill payment in QB and use the date that was on the payment actually sent to the vendor.

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