Collaborate on Bill Making Format for Accounting with Ease Using airSlate SignNow

Bill making format for Accounting

[Music] so let's take a look at how to create a bill in quickbooks online or we might refer to it as accounts payable because whenever someone sends you a bill and you're not going to pay it right away but you don't want to forget about it you can enter it as an accounts payable or as quickbooks online calls it a bill so therefore it's there setting for you to be able to pay you can keep track of what you are owing for and then also depending on your type of accounting whether it's accrual or cash basis which is for a completely different video it can affect your financial statements as well so let's go ahead and dig in and let's take a look so when we do this we are going to go to the expense tab in quickbooks online and we're going to go to expenses but let's take a side note here real quick and in a separate video we showed you how to set up a vendor because you have to have vendors set up in order to create a bill in quickbooks so let's go to expenses so this is going to list there's a list down here of all of our expenses that have been paid through here for now but if we want to pay attention and we want to come over here to new transaction and we want to create a bill because we're not ready to pay it but we want to get it into our system so we're going to go to bill and we're going to choose our vendor that we've already got set up and if on that vendor screen you had set up a address it's going to show up right here so we already have it set up we have our address we also have our terms so the terms is whenever you get that bill in the mail and it has a due date on it and then also under that due date it may say net 30 net 15 that means you have to pay that bill within 15 days of receiving it or 30 days of receiving it so that is the due date so we already set up we know this company they want us to pay them within 30 days so it's already set up to net 30 for that so the date the bill is the due date you can change these things to accommodate for what that bill actually says if you have a build number you can enter that here if you'd like and then down here under category this would also be referred to as chart of accounts if you're familiar with that term but this is what is the bill for how do we want to categorize it so it shows up on our profit and loss statement in the right category or it could be something that was going to show up on your balance sheet as well so right here this company it's tagged to insurance which is actually correct we want it to be insurance but if it needed to be something else we could click on that down arrow and come find what it needs to be and then we're going to tab through if we want to put a description in here that this is for april april billing and then we can put in the amount of whatever we would like it to be you have the option if you have a bill to enter and you actually are buying multiple things so it needs to be categorized out different ways you may be paying for something may need to be a repair and a supply you can have multiple lines here so you can go ahead and add another line with another amount you just want to make sure your total is actually how much you owe on that total bill so then we scroll on down if you want to put in memos you can you also have the ability to add attachments so if you want to scan in your invoice that you got from your vendor and attach it here you can and then that way if you come back to this bill and you're like what was that for again you would be able to click on it and see so then you have the option down at the bottom you can make this reoccurring to where it automatically enters this bill for you whenever you tell it to and then you have the option of save and schedule payment so you can schedule the payment out to pay you can save a new if you want to enter a new one or just save and close and when you save and close it's going to take you back to your regular expense screen and so now you see that this is listed right here at the top because this is in date order it's what we just did it says it's a bill says who it's 2 and how much so then you have the option of scheduling that payment again you can mark it as paid if you paid it and you had already entered in quickbooks maybe maybe you need to market paid whatever the reason would be that right there is how you do that so that is the easiest way to enter a bill into quickbooks to keep track of what your expenses are that way you know you can take a look and say okay what are my upcoming bills that i need to pay so you can take a look for profit and loss reasoning and for cash flow reasoning like our video subscribe hit the bell up in the corner and have a great day [Music] you