Tell me about managing bills and accounts payable


If you use accrual-based accounting, you must track accounts payable. Even if you don't use accrual-based accounting, you can use an accounts payable account to track your payments to vendors.


The accounts payable account is where you enter all vendor transactions, including bills, payments, credits, and refunds. Even if you withdraw the money for the payment from a specific checking account—such as Business Checking—you need to enter the transaction in the accounts payable account so Quicken can track it properly. When you do so, Quicken lets you specify the real-life account from which the money's coming.


You can create one accounts payable account to track the transactions for all your vendors; for example, an account named Business Bills. Or you can add an account for each vendor; for example, Marshall Welding Supply bills and another account named Discount Uniform Supply bills. If you have several businesses, you can add one accounts payable account for each business.

 

What can I do?

Add an accounts payable account
Enter a new transaction
Record a bill
Edit a bill or payment
Copy a recurring transaction
Pay a bill
Track bills on a cash basis
View the payment history (accounts payable)
Enter credit from a vendor
Apply credit to a bill
Receive a refund from a vendor
Delete a bill or payment 


 

Frequently asked questions

  • How do I enter a transaction?
    After you've created the accounts payable account, you can enter vendor transactions by using the forms Quicken provides, such as the bill form, the payment to vendor form, the credit form, and so on. You can also enter transactions directly in the register, but when you use forms, Quicken can track more information.

Notes

If you choose to schedule your bill payments, all you need to do is either accept (or edit and accept) the transaction when Quicken reminds you to. You don't need to complete the Payment to Vendor form when it's time to pay.

 

This feature requires Quicken Home & Business or Rental Property Manager. Learn how you can upgrade Quicken in minutes.

Search Support:

Search form

Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.