New Feature: Playlist Center! Pick a topic and let our playlists guide the way.

Easy-to-follow video tutorials help you learn software, creative, and business skills.Become a member

Entering a bill

From: QuickBooks Pro 2010 Essential Training

Video: Entering a bill

When you get a bill for expenses in the mail, you can write a check right away and be done with it, but if your vendors don't expect payment right away, you can enter a bill in QuickBooks and then pay it later. If you purchase services or products for a customer or job, you can flag what you bought as billable to that customer or job. You'll also tell the program the payment terms the vendor requests. So QuickBooks knows when the bill is due and if there is a discount, if you pay early. QuickBooks has two commands for entering bills.

Entering a bill

When you get a bill for expenses in the mail, you can write a check right away and be done with it, but if your vendors don't expect payment right away, you can enter a bill in QuickBooks and then pay it later. If you purchase services or products for a customer or job, you can flag what you bought as billable to that customer or job. You'll also tell the program the payment terms the vendor requests. So QuickBooks knows when the bill is due and if there is a discount, if you pay early. QuickBooks has two commands for entering bills.

One is for inventory you buy. The other is for other bills you receive like rent or the telephone bill. This video shows you how to enter a bill for things other than inventory. To create a bill, on the homepage click Enter Bills. In the Enter Bills window, in the Vendor dropdown list, choose the vendor who sent the bill. QuickBooks fills in the Vendor box with the vendor's name and address from the vendor record. QuickBooks also fills in the Date with today's date, and the Terms box with the terms from the vendor record.

If the vendor's bill shows a different date, type that date in the box or click the Calendar icon to choose it from the calendar. That way QuickBooks can calculate the bill due date based on the vendor's terms. For example, if the bill is dated 02/03/2010 and the terms include Net 30, the due date is 30 days after the bill date or March 5th. If the terms include a discount for early payment, the 2% 10 here, QuickBooks fills in the Discount Date with that date.

If you want to record the vendor's invoice number or another ID for the bill, type it in the Ref Number box. In the Amount Due box, type the total amount for the bill. The Enter Bills window has two tabs. The Expenses tab is for services you purchase from a vendor. For example, the painting services you get from a subcontractor or your telephone bill. The Items tab is for non- inventory products you purchase. On the Expenses tab, in the first Account cell, choose the expense account for tracking what you bought.

In the Amount cell, type the amount the vendor charged. If the expense isn't billable to a customer, that's all you have to do. You can add another expense on the next line. If the expense is billable to a customer, fill in the Memo cell with the description of the expense. QuickBooks uses the text from the Memo cell to fill in the billable expenses description on an invoice. For billable expenses, choose the customer or job in the Customer Job cell.

QuickBooks automatically turns on the Billable checkbox. When you move to the next line, QuickBooks calculates how much of the bill's total amount due is remaining. In this case, I'm going to use that $100 for non-inventory items. So I'll remove it from here. If the bill includes charges for non- inventory items you purchase, click the Items tab. In the first Item cell, choose the item you bought. QuickBooks fills the description in from the item description.

In the Quantity cell, type how many you bought, and if necessary fill in the cost. If you change a value, QuickBooks asks if you want to save that change to the item record. Click Yes to update the record. Click No to use the changed value, but leave the item record as it is. QuickBooks automatically calculates the total amount for that item. If you're ordering the product specifically for a customer job, choose that in the Customer: Job dropdown list.

QuickBooks turns on the Billable checkbox for you. Fill in additional lines with more products if you want. If the total in the table doesn't match the bill amount due, click Recalculate. QuickBooks removes the unassigned amount in the table. When you're done click Save & New to save the bill and create another one or click Save & Close to save the bill and close the dialog box. After you enter bills, QuickBooks keeps track of when they're due.

At that time, you can write a check to pay them, as you'll learn later in this chapter.

Show transcript

This video is part of

Image for QuickBooks Pro 2010 Essential Training
QuickBooks Pro 2010 Essential Training

69 video lessons · 21640 viewers

Bonnie Biafore
Author

 
Expand all | Collapse all
  1. 8m 19s
    1. Welcome
      52s
    2. Editions of QuickBooks
      3m 24s
    3. QuickBooks bookkeeping basics
      2m 46s
    4. Using the exercise files
      41s
    5. Disclaimer
      36s
  2. 9m 12s
    1. Opening a company file
      2m 4s
    2. Using the QuickBooks menus and home page
      2m 49s
    3. Touring the Customer, Vendor, and Employee Centers
      2m 32s
    4. Navigating between QuickBooks windows
      1m 47s
  3. 10m 50s
    1. Gathering the information you need
      2m 4s
    2. Creating a company file
      5m 33s
    3. Converting from another program
      3m 13s
  4. 8m 19s
    1. Naming and numbering accounts
      3m 36s
    2. Creating an account
      2m 26s
    3. Making an account inactive
      2m 17s
  5. 14m 50s
    1. Creating a customer profile
      3m 40s
    2. Adding customer information
      4m 33s
    3. Creating a job
      2m 18s
    4. Making customers inactive
      1m 39s
    5. Creating a vendor
      2m 40s
  6. 43m 35s
    1. Why use QuickBooks items?
      2m 59s
    2. Creating a service item
      4m 26s
    3. Setting up time tracking
      2m 53s
    4. Entering time
      4m 19s
    5. Tracking mileage
      4m 34s
    6. Creating an inventory item
      6m 7s
    7. Creating a non-inventory item
      3m 34s
    8. Setting up sales tax
      6m 59s
    9. Setting up discounts and charges
      3m 46s
    10. Creating a group of items
      2m 16s
    11. Making items inactive
      1m 42s
  7. 30m 46s
    1. Creating a purchase order
      3m 8s
    2. Entering a bill
      4m 37s
    3. Recording inventory you receive
      3m 47s
    4. Paying bills
      4m 5s
    5. Handling a credit from a vendor
      5m 2s
    6. Writing a check for expenses
      3m 17s
    7. Paying with a credit card
      1m 40s
    8. Paying with cash
      2m 53s
    9. Paying sales tax
      2m 17s
  8. 35m 5s
    1. Understanding invoices, statements, and sales receipts
      2m 23s
    2. Creating an invoice and filling in header fields
      2m 55s
    3. Adding items to an invoice
      5m 7s
    4. Adding billable time and cost to an invoice
      5m 57s
    5. Using subtotals, discounts, and other charges
      3m 6s
    6. Creating an estimate
      2m 49s
    7. Handling a customer credit
      4m 57s
    8. Creating a statement charge
      3m 7s
    9. Producing a statement
      4m 44s
  9. 14m 44s
    1. Setting up print options
      4m 13s
    2. Aligning forms with printer paper
      3m 0s
    3. Printing one or more forms
      4m 29s
    4. Emailing a sales form
      3m 2s
  10. 14m 8s
    1. Receiving a payment
      3m 49s
    2. Assessing finance charges
      4m 9s
    3. Creating a sales receipt for a cash sale
      2m 39s
    4. Depositing payments
      3m 31s
  11. 10m 37s
    1. Preparing to reconcile a bank account
      1m 50s
    2. Reconciling transactions to your bank statement
      3m 14s
    3. Correcting discrepancies
      5m 33s
  12. 9m 51s
    1. Using the Report Center to find reports
      3m 0s
    2. Running a report
      3m 45s
    3. Printing or saving a report
      3m 6s
  13. 6m 8s
    1. Why use journal entries?
      3m 3s
    2. Creating a general journal entry
      3m 5s
  14. 13m 39s
    1. Creating a new user
      4m 58s
    2. Backing up your company file
      6m 10s
    3. Restoring a company file
      2m 31s
  15. 27s
    1. Goodbye
      27s

Start learning today

Get unlimited access to all courses for just $25/month.

Become a member
Sometimes @lynda teaches me how to use a program and sometimes Lynda.com changes my life forever. @JosefShutter
@lynda lynda.com is an absolute life saver when it comes to learning todays software. Definitely recommend it! #higherlearning @Michael_Caraway
@lynda The best thing online! Your database of courses is great! To the mark and very helpful. Thanks! @ru22more
Got to create something yesterday I never thought I could do. #thanks @lynda @Ngventurella
I really do love @lynda as a learning platform. Never stop learning and developing, it’s probably our greatest gift as a species! @soundslikedavid
@lynda just subscribed to lynda.com all I can say its brilliant join now trust me @ButchSamurai
@lynda is an awesome resource. The membership is priceless if you take advantage of it. @diabetic_techie
One of the best decision I made this year. Buy a 1yr subscription to @lynda @cybercaptive
guys lynda.com (@lynda) is the best. So far I’ve learned Java, principles of OO programming, and now learning about MS project @lucasmitchell
Signed back up to @lynda dot com. I’ve missed it!! Proper geeking out right now! #timetolearn #geek @JayGodbold

Are you sure you want to delete this note?

No

Thanks for signing up.

We’ll send you a confirmation email shortly.


Sign up and receive emails about lynda.com and our online training library:

Here’s our privacy policy with more details about how we handle your information.

Keep up with news, tips, and latest courses with emails from lynda.com.

Sign up and receive emails about lynda.com and our online training library:

Here’s our privacy policy with more details about how we handle your information.

   
submit Lightbox submit clicked
Terms and conditions of use

We've updated our terms and conditions (now called terms of service).Go
Review and accept our updated terms of service.