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QuickBooks Online Essentials: Paying Bills
 
 

QuickBooks Online Essentials: Paying Bills

You saw how simple it is with QuickBooks Online Essentials. But now it's time to explore some finer details and talk about paying bills. It's something none of us like doing; however, it's necessary for being in business - and living.

When to Pay Bills

The big decision with paying bills is if you should pay them right away or wait. If there's a proper answer to this, then it lies within the accounting system that you use. The first method is the easiest-- paying them right away. The second method, which is called an accounts payable method, gives you accurate records, but lets you pay your bills later. It's called accrual-basis accounting. We'll talk more about this a little later during this section. For now, let's talk about paying bills by writing checks.

 

Pay by Writing Checks

Whenever you write checks to pay bills, you are doing cash-basis accounting. What this means is that you count your bills as expenses when you write the checks and pay the bills. The only drawback to using this method is that you lose the ability to heavily track your expenses and keep track of your bills. Your bills will pile up, likely on a stack on your desk.

Interested in learning more? Why not take an online class in QuickBooks Online Essentials?

To pay by writing checks, click the Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-25 at 11.29.09 AM.png tab, then click the Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-27 at 1.12.31 PM.png sub tab. You will now be presented with this screen:

Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-27 at 1.14.13 PM.png

 Click the Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-27 at 1.13.33 PM.png dropdown option and select Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-27 at 1.15.44 PM.png, as shown below:

Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-27 at 1.16.19 PM.png

You will now be on the Check page:

Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-27 at 1.16.59 PM.png

Enter the payee in the "Choose a payee" field. If you choose a vendor as the payee and the vendor has an outstanding balance, you'll see this dialogue box:

Macintosh HD:Users:stephencarges:Desktop:Screen Shot 2014-04-27 at 1.21.00 PM.png

Select the

 
 
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