The financials of any business are complex and must be handled with utmost degree of accuracy. Every business strives for accuracy when dealing with finances. That is why you cannot just rely on calendars and Excel accounting to expedite the finances.
Whether you are running a small business, you are a bookkeeper, or an accountant; you must keep up to date with various payment terms, due dates, several vendors, and other financial aspects of the business. This can be hard lead to financial discrepancies resulting in losses.
QuickBooks Desktop makes handling of your business finances much easier. The QuickBooks for desktop functionalities helps you to maintain accurate financial records and helps in the effective management of the payables.
In this article, let's learn various functionalities of QuickBooks Desktop, how to pay bills with QuickBooks, and how to effectively navigate it to allow gain control over your finances. So, let’s dive in!
QuickBooks Desktop is a financial accounting software for streamlining and managing your finances, bookkeeping, and managing accounts, among other business tasks.
QuickBooks software offers a wide range of other functionalities such as tracking expenses, creating invoices, and generation of financial reports.
The software has a user-friendly interface allowing businesses to easily and quickly process payrolls, tax reports, and the management of inventory.
The QuickBooks bill software for desktop has incredible features which ensures accurate budgeting and forecasting. It enables the users to make accurate and well-informed financial decisions.
QuickBooks automates the repetitive tasks and consolidates the financial data leading to improved efficiency for businesses and smooth accounting operations. The QuickBooks bill software is an invaluable tool for all types of businesses and institutions.
Steps for paying bills with QuickBooks Desktop
Paying bills with QuickBooks Desktop entails a series of steps to ensure accurate recording of expenses, maintenance of vendor invoices and manage accounts payable.
When you enter bills in QuickBooks, avoid writing check for payment of bill. This is because the bill remains open or unpaid and it may lead to inaccurate information on financial reporting.
Here are steps to take to accurately pay bills with QuickBooks desktop:
You can inadvertently pay a bill. However, you can undo the payment. Here are quick steps to follow:
Deleting QuickBooks bill is simple and fast. In QuickBooks Desktop, delete the bill by navigating to the invoice of choice. Identify the payment. Select More and then Delete.
Once you have deleted, the payment is removed from the system and the remaining accounts will automatically update. Note; Once the bill is deleted, it cannot be recovered.
Viewing QuickBooks bill Desktop enables the user to follow-up vendor transactions, streamline the reconciliation process and keep accurate records of all the invoices in the system.
Therefore, it is important to keep the QuickBooks bill updated to ensure the accuracy and transparency of the financial transactions.
Here are steps for viewing QuickBooks bill:
Check the QuickBooks bill through the vendor center to view the paid bills. Here, you can easily track the vendor transactions and payments.
Select transactions tab on the vendor center to enable you access paid bills for easy tracking of vendor payments, ensure accuracy, and for smooth reconciliation process. You can pay bills with QuickBooks and view it later for confirmation on QuickBooks Desktop.
To view the bill paid through QuickBooks, filter the vendor transactions by clicking on the Bill payments on the QuickBooks Desktop. The feature ensures efficient tracking of paid bills, record-keeping and reconciliation processes.
You can view and edit paid bills on QuickBooks Desktop. The feature allows you to manage vendor transactions, maintain accurate records, reconcile statements, and keep accurate records of invoices in the system.
This process allows businesses to have a clear visibility of their finances, while ensuring accuracy of the bills and records.
A bill tracker can easily track QuickBooks Desktop bill payments. The bill tracker allows users to view their bills and vendors to efficiently pay bills with QuickBooks.
Go to the Vendors Menu and select Bill Tracker to use the bill tracker. The bills are categorized into:
The PAID tab displays all bills paid within the last 30 days. Double-click the PAID tab to view all the details. Select print to print a copy.
The UNPAID tab shows you open and unpaid bills. Select the Open Bills or Overdue Tab. Then, double-click on the bill to check the detailed information. To pay bills with QuickBooks, select the checkbox for all the bills you want to pay. Select Batch Actions on the drop-down.
Select 'Pay Bills' once you are ready. Pick the payment method and account. Then, select the ''Pay Selected Bills'' tab to pay bills in QuickBooks desktop.
The UNBILLED TAB shows any unbilled purchased orders. To view the unbilled bills:
Select the 'unbilled' tab and double-click on the purchase order to view. Then, pay bills with QuickBooks if you are ready to purchase an order.
Select Convert to Bill on the action column. Then, the purchase order will shift to the UNPAID tab. You can print, close, copy, or email the purchase order.
Yes, you can pay bills with QuickBooks Desktop for both Mac and Windows.
If you are an accountant, a small business owner, or a bookkeeper, you should master QuickBooks functions to enable you to pay bills with QuickBooks Desktop efficiently. QuickBooks Desktop allows users to maintain accurate financial records and efficiently manage and track payables. We trust you have understood the QuickBooks bill payment processes for QuickBooks Desktop. You can refer to the process for better understanding.
Would you like to enhance efficiency, accuracy, and speed in your business, sign in with QuickBooks Desktop today and enjoy a 30-day free trial.