Apple Mac2014 - Types of Vendor Transactions

QuickBooks for Mac 2014 User’s Guide 139
Types of vendor transactions
With vendors, it’s all about spending money. You need stuff to run your business, whether that’s new inventory or
just paper clips. Now that you’ve added vendors to QuickBooks, you can create any transaction for a vendor from
the Vendors menu or from the Vendor Center. In this section, you’ll learn about the different transactions you use
with vendors and when to use them.
You receive the things your ordered and need to pay for them
OK, now you’ve received your order, and you’re ready to pay. You have a few choices on how you do that.
• Check or Credit Card Charge. If you want to pay the bill right away, you can just write a check or use your
credit card to pay the bill. You record these transactions with Write Checks or Enter Credit Card Charges on the
Banking menu. Your balances reflect the payments right away.
• Bill and Bill Payment. You may want to pay the bill later, say after you’ve received payments from your clients
or because you pay all your bills at once. But QuickBooks should know you received this bill so that it can
accurately tell you how much money you actually have. Use Vendors > Enter Bills to enter the information about
the bill. Once you pay the bill, use Vendors > Pay Bills to enter the payment.
• Item Receipt. If you receive the things you order but are getting the bill later, use an item receipt to tell
QuickBooks you received the items. Use Vendors > Receive Items. Then when you get the bill later on, you can
pay it right away with a check or credit card or enter the bill.
You have a credit from a vendor
Sometimes, a vendor may owe you money. You can then enter a bill credit. Choose Vendors > Enter Bills and
select Credit at the top of the window. Then you can apply the credit when you pay a future bill from the vendor.
You can also do the same thing for credit card credits. Use Banking > Credit Card Charges and select Credit in the
window.
You need to pay your sales taxes
When you need to pay your sales taxes, use a sales tax payment (Vendors > Pay Sales Tax). QuickBooks records
the sales tax payment for the organization you’ve set up as your tax agency.
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