I have a supplier that provides me with credit to purchase goods for resale.
I add invoices as I receive them, via the normal add bills.
Now, when I receive my statement I have a minimum amount to pay, and they take this from my outstanding amount and update my credit.
The problem is, when I choose to pay bill i have to select an actual invoice to make payment from, however I do not choose what is actually paid.
For example i might have the following outstanding invoices
INV 1 £50
INv 2 £10
INV 3 £100
So I owe a total of £160 accross three bills/invoices.
Now, when I receive my statememnt it may say I must pay £30, so I then wish to enter a payment (by debit card) of £30 direct to my supplier, and that should then reduce the balance to £130 outstanding.
I would be very gratefull if anyone could assist with this.
Steve Go to the home page, click on Pay Bills. Select the supplier from the drop down list. You can select an invoice you want to credit the £30 to (maybe the oldest outstanding invoice or all invoices if you want to spread the payment) and then on the right hand side in the "Amount to Pay" column overtype the number in there with the amount you want to credit against that invoice. Then fill in the stuff at the bottom as normal. All incompletely paid invoices will remain on the list but with the outstanding amount left listed there. If you don't want to choose which invoice to pay I suggest you ask the supplier how they allocate your payment in their system and you can mirror that.
I was told to do the following, and it seemed complicated.
Create an current liability account with the name of my supplier.
Transact credit for goods sold to that account, and then use write cheque to pay outstanding amounts, but then I was told you link the supplier account with the pay account and the accounts receivable, and to be honest I got lost off, as you may tell by the way I am explaining this.
If the method you gave is fine for what I want, even with a credit limit giving to me, then i will try that.
You could also just put the £30 payment onto the account by using the Write Cheques window - select the relevant supplier in the payee line - enter the £30 in the amount box, then in the Accounts line, put accounts payable, then £30 in the amount, then in the Customer:Job box, enter the supplier name (because you've chosen accounts payable, QuickBooks will be expecting a supplier name, not a customer name). This will then put the payment on the account which can be applied in the pay bills as and when required - to whichever bill you choose. By going to the supplier name in the supplier centre, you can click on Openin Balance and see the outstanding invoices and your payments that you've made in this way.
