How to Pay for Inventory Items with QuickBooks 2015 When You Get the Bill

By Stephen L. Nelson

The items arrive, and you fill out an item receipt in QuickBooks 2015. Three weeks pass. What’s this in your mailbox? Why, it’s the bill, of course! Now you have to enter a bill for the items that you received three weeks ago. This job is easy:

1Choose Vendors→Enter Bill for Received Items.

Or, from the Home screen, click the Enter Bills against Inventory icon. If you’re on the Vendor Center, click New Transactions and then Enter Bill for Received Items. The Select Item Receipt dialog box appears.

2Click the Vendor drop-down list and select the name of the vendor who sent you the bill.

You see one or more item receipts in the box, with the date you put on the receipt, its reference number, and the memo that you wrote on the receipt.

3Select the item receipt for which you want to enter a bill and then click OK.

The Enter Bills window appears. Does this information look familiar? It should — it’s the same information that you put in the Create Item Receipts window, only now you’re working with a bill, not a receipt.

4Compare the Items tab in the window with the bill.

Are you paying for what you received earlier? Shipping charges and sales tax may have been added to your bill. You may also need to adjust the price because you may have been guessing when you recorded receiving the items. If so, add to and adjust the original receipt information by using the Items tab. (You can click the Recalculate button to add the new items.)

How many days do you have to pay this bill? Is it due now? Take a look at the Terms line to see what this vendor’s payment terms are. Change the payment terms if they’re incorrect by selecting a different entry from the drop-down list.

Remember: You want to pay your bills at the best possible time, but for you to do so, the terms in the Enter Bills window must match the vendor’s payment terms.

5Click Save & New or Save & Close to record the bill.

Of course, you still need to pay the vendor’s bill. Fair enough.