Institute of Certified Bookkeepers
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How to remove old outstanding supplier bills

  • Member in Employment
  • 3 posts
  • # 117737

I have received directors personal credit card statements and have found payments relating to outstanding supplier bills.  These bills are in the Accounts Payable Ageing Summary (Reckon Desktop).  How do I clear these transactions.  In other words, the bills have been paid by the credit card - how do I remove them? - Thank you

Thanks Pauline - bit confused as the director has been reimbursed for this payment.  The supplier bill was entered then he paid for this form his credit card and was reimbursed at the time (back 2 years ago).  Will I still need to create the steps as you mentioned via petty cash then journal? 



Edited at 08 May 2019 03:30 AM GMT

  • Fellow in Practice
  • Practice Certificate
  • 259 posts
  • # 117738

Hi

 

They still need to remain if they are a business expense.  Maybe set up an "owner Cash" bank account or use existing petty cash to pay against the supplier invoice and then journal that payment back to the Directors Loan  account as money he has paid thus lowering the amount owed to his loan.

  • 4 posts
  • # 117758

Paying QuickBooks bills with a credit card is a common occurrence , you can  record your Credit Card Bill payment as follows:

  • Go to the bottom of the Bill Payments screen, and locate the “Method” field.
  • Change it from ‘Check’ to ‘Credit Card’.
  • Then go to the Account’ field, and choose the credit card account that you’ll be using for payment.
  • Select the Bill(s) you want to pay with a credit card.
  • Click on the “Pay Selected Bills” button
 your Bill payment is properly recorded AND your credit card balance is increased.

  • Fellow in Practice
  • Practice Certificate
  • 259 posts
  • # 117761

Hi Annie,

 

If you have accounted for those expenses through the reimbursement then you could reverse the original suppiers invoice but ensure that the expense has been recorded at the time of the reimbursement.  Make notes about what you are doing to ensure that you have the details if queried at a later date.

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