Thanks this is very useful. One question, how do you record an advance payment to a vendor (specifically one that is delivering inventory to you). does booking in the bill and the partial payment result in increasing the inventory count, or does that occur after the full payment of the outstanding bill? So do you follow the same process? Thank you
Hi. I noticed that paying via this method adds the word "cheque" to the payment. Do you see this being a problem if I paid via a different method, such as BACS? Or is this just a general term in accounting used to refer to payments of bills? Thanks
Thanks this is very useful. One question, how do you record an advance payment to a vendor (specifically one that is delivering inventory to you). does booking in the bill and the partial payment result in increasing the inventory count, or does that occur after the full payment of the outstanding bill? So do you follow the same process? Thank you
Hi. I noticed that paying via this method adds the word "cheque" to the payment. Do you see this being a problem if I paid via a different method, such as BACS? Or is this just a general term in accounting used to refer to payments of bills? Thanks
You should be able to change the word cheque to bank transfer by using the drop-down list where it states 'cheque'.
hi,
i have a customer and also a vendor how can i deal with this situation
and show them in one statment
Just add them as both a supplier and customer - QuickBooks will allow you to do this. Thanks for watching.