QuickBooks Tip #12
Have you ever had to pay for an item (i.e. inventory) upfront and then wondered how to keep track of the payment in the accounts payable system?
• Create a PO for the item(s) (optional).
• Write a check to the vendor using A/P as the expense account and put the vendor name in the customer:job column. This will create an A/P credit in the vendors’ name.
• When the item(s) arrive, create a bill (receive against the PO if applicable).
• Pay the bill using the available vendor credit
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