Regeln » How to Set up QuickBooks accounts payable

In this segment of Quickbooks for Beginners, We are going to focus on all expenses and monies owed to and leaving the company which is called Accounts Payable in QuickBooks

With Account payable QuickBooks, your vendors send you invoices to pay for services or products you purchased from them. In QuickBooks, this transaction is known as a bill. If you return product or ask for a credit for services, the transaction in QuickBooks is called a vendor credit. This is not to be confused with the accounts receivable transaction, credit memo.
To set up a vendor credit, you’re going to go into the vendor list and select “Enter Bills”. Here, select the credit bubble. This changes the transaction from a Vendor Bill to a Vendor Credit. Then pick your vendor, and enter the amount. You may enter why they are giving you a credit in the memo section for future reference. The result of a vendor credit is going to be a debit to accounts payable and a credit to the general ledger account or item account you choose on the bottom half of the vendor credit.