Call QuickBooks Support Number @ 1-800-731-1629 to Record Vendor Payments

 What will happen if you don’t know about recording vendor payments? You must be thinking of customer support for yourself, if it is yes then you reached to correct destination. QuickBooks Support is always ready to bring out helping hand for you and make you satisfy with all solutions to your query. Our QuickBooks Support is highly active for their precious customers to make them resolvable for all issues. When you are trying to order a part or a service from a vendor, then you must pay some portion of the amount of price and that too before delivery. You can directly type the prepayments or deposits by using Account Payable or Asset account. To overcome all these situations it can be done in two ways:

Method 1: Refer Accounts Payable to Record Payments

 In this method, you can precisely write down a check to the vendor and record it to your account payable account by decreasing the balance till the time you are ready to type the bill:

• Generate a check for the vendor.
• In to the Banking menu, click on to Write Checks.
• Type the name, date, and payment amount of vendor.
• In to the Expenses tab. In the Account column, type Accounts Payable.
• In the Customer: Job column, click on the drop-down menu, then select the vendor name.
• Click on Save & Close.
• Type the bill

Method 2: Use an asset account to keep record of prepayment

With the help of QuickBooks Support you can easily write a check to the vendor and keep track of it to an Other Current Asset (OCA) account, by increasing the balance till the time you are ready to pay the final bill.

• To generate an Other Current Asset (OCA) accounts to keep record of the prepayments.

• Move to the Lists menu and then click on Chart of Accounts.
• In the Chart of Accounts, double-click anywhere on screen, and then click on New.
• In the Other Account Types drop-down menu, click on to Other Current Asset.
• Click on Continue.
• Type Prepaid Inventory as the Account Name.
• Click on Save & Close.

• Write a check to your Vendor.

• Move to the Banking menu, and then choose Write Checks.
• Type the name, date, and payment amount of vendor.
• In the Expenses tab, In the Account column, click on the OCA account.
• Click on Save & Close.

• Type the bill when the items arrive.

o   In the Vendors menu, choose Enter Bills.

o   In the Expenses tab, click on to the OCA account.

o   Type the prepayment amount as a negative value.

o   On the Items tab, type the items. The bill will equalize the balance payable after deducting the prepayment.

o   Click on Save & Close.

• Pay the bill balance.

• In the Vendors menu, choose Pay Bills.
• Click on the bill you entered, and then choose Pay Selected Bills. QuickBooks will then generate a Bill Payment Check for the balance.

If your concerned issue is not sorted out, immediately contact QuickBooks Support

How to View existing prepayments

• In the Reports menu, click on to Vendors & Payables and then select Vendor Balance Detail.
• Click on Customize Report, and then go to the Display tab.
• Choose the desired range of date for the report.
• Move to the Filters tab, and then choose Account from the list.
• In the Account drop-down menu, choose the asset account which is to be created to record prepayment amounts.
• Click on OK.

For, further assistance or guidance feels free to contact QuickBooks Support Number @ 1-800-731-1629 or you can also drop us a mail at support@qbooks247.com.