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How to Enter a Bill in QuickBooks 2011

If you told QuickBooks during the setup process that you want to track unpaid bills, also known as accounts payable, you can enter bills as you receive them. As you do this, QuickBooks keeps track of the unpaid bills.

Good, accurate recordkeeping of unpaid bills is essential if you want to do good accrual-basis accounting. Accrual-basis accounting produces more accurate financial statements than other methods.

If you haven't previously recorded an item receipt

To enter a bill, you follow one of two sequences of steps. If you're entering a bill for which you haven't previously recorded an item receipt, you follow these steps:

  1. Choose Vendors→Enter Bills.

    QuickBooks displays the Enter Bills window. You use this window to describe the bills that you later need to pay.

    image0.jpg
  2. Use the Vendor drop-down list to identify the vendor.

  3. Use the Date, Amount Due, and Bill Due fields to describe the invoice date, the invoice due date, and the invoice amount.

    Optionally, use the Terms drop-down list to identify the payment terms and the Ref. No. box to identify the vendor's reference number.

  4. Identify the expenses billed.

    Use the Expenses tab of the Enter Bills window to identify the expenses that the bill represents.

  5. Identify the items billed in the Items tab.

    Use the Items tab of the Enter Bills window to describe any items for which the vendor bills you.

If you have previously recorded an item receipt

To enter a bill when you've already recorded the receipt of the item for which the bill invoices you, follow these steps:

  1. Choose Vendors→Enter Bill for Received Items.

    QuickBooks displays the Select Item Receipt dialog box.

    image1.jpg
  2. To identify the item receipt for which you're now recording a bill, select the vendor from the Vendor drop-down list.

    QuickBooks displays a list of item receipts for the vendor.

  3. Click the item receipt that corresponds to your bill and click OK.

    QuickBooks displays the Enter Bills window for the item. QuickBooks fills out much of the Enter Bills window by using the information from the item receipt.

    image2.jpg

    You may be able to skip Steps 4, 5, and 6 if your item receipt information correctly and completely fills the Enter Bills window.

  4. Use the Date, Amount Due, and Bill Due fields to describe the invoice date, the invoice due date, and the invoice amount.

  5. Use the Expenses tab of the Enter Bills window to identify the expenses that the bill represents.

  6. Use the Items tab of the Enter Bills window to describe any items for which the vendor bills you.

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