Quicken & Other Budget/Accounting Software/How to pay the bill against 3 bills with specific amount I have?
I have a question related to paying the bill. It's that:
I have 3 bills I must pay. 1st bill is $1200, 2nd is $1500, and 3rd is $500. It means that the total amount I must pay is $3200.
Now I have $400 and I need to pay $400 to 3 bills=$3200. As I know, I must select at least 1 of 3 bills and then enter $400 for the payment to the vendor.
For example, now I select 1st bill and then enter $400 and save. After that I can see 1st=$800, 2nd=$1500 and 3rd=500. In short, I owe the vendor $2800 after paying $400.
Can I have another way to enter $400 to pay to total amount=$3200 and then I can see that I owe $2800?
Hope you understand what I mean.
Thanks a lot and best wishes to you!
I am looking forward to hearing from you as soon as possible!
My best regards,
You would not change the way you are entering your payment to the vendor. Instead,
you need a report that will give you the balances owed to the vendor.
Accounting software usually comes with standard accounting reports.
One of the standard reports is the Accounts Payable Aging Summary.
After you pay the $400, This accounts payable aging summary will give you the total
balance due to the vendor of $2800 and will age that liability based on how long it
has been unpaid.
Hope this helps,
Linda Saltz, CPA
Advanced Certified QuickBooks Advisor