The other day Intuit announced that they have an interface with PayPal and Bill.Com. I have tested the Bill.com interface and found this tool to be very useful and can definitely automate some of the daily manual tasks that are inherent in recording accounts payables, and paying them.There is a charge for this service, which is currently $9.99 per month and $.99 for each electronic payment.As far as the PayPal interface, its a little disappointing because its currently not operating and there is no information on its monthly cost, if any?, emphasis added.
The question of how to customize the budget option in QuickBooks Online is a common question. Here is my shortest video ever that will show you how to customize your budget to get current month and year to date information for actuals as compared to budget in less than two minutes.
The first thing you need to do is to turn on the accounts payable feature in the preference section and then watch my short video, see below.
The following is a list of the procedures to you need to perform to set up this important preference.
1.Choose Vendors > Manage Bills.
2.This will bring up a Mini-Interview window. Say Yes to the question "Do you want to keep track of bills you owe, but wait to pay them later?".
Once this feature is turned on you will be able to use the QuickBooks Online accounts payable features in your business.
The video below will show you how to enter a bill into Accounts Payable using QuickBooks Online. Just in case you need the instructions I have included the instructions to enter a bill below:
Choose Vendors, then select Enter Bill.
1.Vendor- The company that you owe the money to.
2.Ref # - Enter the invoice #
3.Amount Due - total amount of money you owe on this bill.
4.Terms - when the vendor expects payment. For example: "net 30" means payment is due in 30 days, that is 30 days after the invoice date.
5.Due Date - calculated based upon the Terms you have listed.
6.Memo - note on the bill. This will not appear on the bill payments.
7.Account Enter the category that the bill should be charged to i.e. supply expense,insurance expense
Procedure - Bills are generally processed by a bookkeeper who enters them as payables in QuickBooks. These bills should be paid every week or every two weeks.
Tip - Bills should be approved by management or the owners prior to their entry into accounts payable by the bookkeeper. The approved invoice or billing should then be attached to the check and presented to management for signature when processing the bill for payment. This procedure and related approval can be performed either in a paper format or paperless format. If there is no prior approval of the bill before entry into QuickBooks payables there is the risk that unauthorized payments may be processed and paid.
This video will address a topic that I took for granted for companies using QuickBooks Online Plus or Essentials until a client today,expressed her frustration when entering a vendor bill.She was accustomed to QuickBooks Pro and the learning curve was frustrating here. So I thought other people might also be having a similar issue. Using the auto fill feature to search and populate the following fields in QuickBooks Online Plus.
General ledger accounts
Please view this short video for using QuickBooks Online Plus or Essentials to see the two alternatives that you can select within the preferences and how to do it .