In this tutorial, we are going to look at how to record a bill in quickbooks.
Bills are usually the invoices received from suppliers of goods or services.
As usual you have to open your quickbooks company file. In the menu section at the top, look for vendors (these are suppliers)
Click on the vendor option and scroll down to the “enter bills section”.This opens a new window where you input your bill details as follows:
- Vendor – this is the name of your supplier. If you had already created the supplier as a vendor, just select the supplier’s name from the drop down arrow. If not, from the drop down arrow, just click on “add new”- this will open a new window where you input the supplier details. See creating vendors in quickbooks for more information.
- Date – this is the date of the bill. You can use the date on the supplier’s invoice.
- Ref no – this is the supplier’s invoice number.
- Amount – this is the total amount as per the supplier’s invoice
- Bill due – this is the date by when the bill is supposed to be paid
- Terms – these are the terms stipulated by the supplier. E.g. due on receipt means the bill is supposed to be cleared immediately you receive the invoice from the supplier
- Memo – this is a brief narration about what the bill represents e.g. being telephone bill for January
- Account – this is the account that is being affected by the bill – e.g. telephone expense
- Amount – this is the amount that is attached to a particular expense (usually net of VAT if applicable)
- Memo – as noted above, memo is just a narration
- Customer job – if the particular bill arose as a result of a job done for a customer, then you can select the particular customer. Otherwise leave the field blank
- Billable – this applies if the number 11 is applicable
- After you input all the required details, you can either “save and new”- if you intend to record another bill after the current one, if not then just click on “save and close”
With those few steps, you will have recorded a bill that can be cleared once the payment is done.