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    GLOBAL TAX & ACCOUNTING SERVICE INC.

    GLOBAL TAX & ACCOUNTING SERVICES INC.

    GLOBAL TAX & ACCOUNTING SERVICE INC.

    Click here for the client portal

    OFFICE -516-558-0065

    Email:omaida@globaltax.info

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    Your Personal Accountant Wherever You Are. Se Habla Español

    Contact Person

    Name: Omaida Fishman

    200 Broad Hollow Road, suite 203,
    Melville, NY 11747

    Cell: 516-784-7227

    Fax: 516-679-1964

    Email:omaida@globaltax.info

    Get Directions

    Tracking Bills in QuickBooks, Worth the Effort

    Next to payroll, paying bills is probably your least favorite task in QuickBooks. You don’t have to use this feature — you can keep stacking bills on your desk, scrawling the due dates on a paper calendar, and writing checks.

    If you’re still operating this way, though, you’re missing out on the numerous tools that QuickBooks offers to track your accounts payable, including the ability to:

    • Enter bills as they come in
    • Set reminders for bills due
    • Pay bills easily
    • Locate a bill or payment quickly
    • Enter bills as (or after) you receive items
    • Link bills to purchase orders
    • Have instant access to a bill’s status

    Receiving the goods

    When an expense bill comes in (from a utility company, for example), click the Enter Bills icon on the home page, or Vendors | Enter Bills. A window like the one displayed above opens. Select the vendor and fill in the blanks. Make sure that the Expenses tab below is selected and the appropriate account number and amount fields are completed. If it’s a bill for an item that already has a related Item Receipt (the shipment preceded the bill), QuickBooks instructs you to use Vendor | Enter Bill for Received Items. Follow the prompts.Note: Dealing with incoming inventory is complex. Consult with us if you plan to use this feature.If the bill came simultaneously with items, click Vendors | Receive Items and Enter Bill. When you select the vendor from the list, this box opens (if you have sent a purchase order):


    Figure 2: QuickBooks is telling you that you have open orders with this vendor.

    Click Yes. The Open Purchase Orders box opens, containing a list of open POs. Select the one(s) you want and click OK. The bill form opens, containing the details of that purchase order. Change quantities if they don’t match the shipment, and edit other fields as necessary. Save the bill.

    Settling your debts

    It’s good to set reminders for bills. Go to Edit | Preferences and click Reminders. Make sure that the Show Reminders List…box is checked, then click Company Preferences. Find the Bills to Pay row and enter the advance notice you’d like. Indicate whether you want to see a list or a summary, then click OK.When bills are due, click the Pay Bills icon or select Vendors | Pay Bills. A window opens displaying all outstanding bills. You can pare this down by selecting a date in the Due on or before field and filtering by vendors. The screen will look something like this:


    Figure 3: You can easily select the bills you want to pay.

    Enter a check mark next to the bills you’re paying, and change the amount in the Amt. To Pay field at the end of the row if necessary. At the bottom of the screen, you can set the payment date and type, use any discounts or credits, and make sure the correct payment account is selected. When you’re done, click Pay Selected Bills.Tip: You can have credits and discounts automatically applied by going to Edit | Preferences | Bills.

    After You’ve Paid Up

    There are a number of places where your bills appear in QuickBooks, including:

    • The Unpaid Bills Detail report
    • The A/P Aging Detail report
    • The Vendor Center
    • QuickReports
    • In the Recent Transactions pane of some forms
    • On the bills themselves


    Figure 4: QuickBooks displays the Paid status of bills.

    QuickBooks also lets you void and delete bills, and copy and memorize them. Check with us before voiding and deleting, as this can make some complicated changes in your accounts.

    You can just pay bills by using Banking | Write Checks or Enter Credit Card Charges. But the payoff for tracking bills is instant access to your accounts payable status, better relations with vendors, and a more insightful accounting of your company’s cash flow.

    Tracking Bills in QuickBooks, Worth the Effort
    • ← Using the Add/Edit Multiple List Entries Feature
    • Classes or Types? When To Use Them in QuickBooks →

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    We provide Business Services, Tax Services, QuickBooks Services and Services For Individuals.

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    • Long Island Location
      65 East John St.
      Hicksville, NY, 11801
      sal@salalbanese.com
      Phone: (516)417-8504
      Fax: (516)213-4895
      Cell: (516)987-9850
    • NYC Location
      2200 Broad Hollow Road, suite 203
      Melville, NY 11747
      sal@salalbanese.com
      Phone: (212)714-0064
      Fax: (212)629-9553
      Cell: (516)987-9850

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    Contact Info

    Address: 200 Broad Hollow Road, suite 203
    Melville, NY 11747

    516-679-1964

    516-784-7227

    516-558-0065

    omaida@www.globaltax.info

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    • Services
      • Services For Individuals
        • Personal Financial Planning
      • Business Services
        • Small Business Accounting
        • Payroll
        • Business Valuation
        • Succession Planning
        • New Business Formation
        • Internal Controls
      • Tax Services
        • Tax Preparation
        • Tax Planning
        • TAX PROBLEMS
          • IRS Audit Representation
          • Non-Filed Tax Returns
          • Back Taxes Owed
          • Payroll Tax Problems
          • IRS Liens
          • IRS Levies
          • IRS Wage Garnishment
          • IRS Seizures
          • Offer In Compromise
          • IRS Payment Plan
          • Innocent Spouse Relief
          • Get Your IRS File
      • QuickBooks Services
        • WHY QUICKBOOKS
        • QUICKBOOKS SETUP
        • QUICKBOOKS TRAINING
        • QUICKANSWERS
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        • Buy QuickBooks and Save
    • Newsletter
      • Previous Newsletters
      • News & Weather
    • Financial Guides
      • Life Events
      • Business Strategies
      • Investment Strategies
      • Tax Strategies for Business Owners
      • Tax Strategies for Individuals
      • Frequently Asked Questions
    • Tax Center
      • Track Your Refund
      • Tax Due Dates
      • Tax Rates
      • IRS Tax Forms and Publications
      • Record Retention Guide
      • State Tax Forms
      • 1040 Tax Calculator
      • Marginal and Effective Tax Rates Calculator
    • Resources
      • Financial Calculators
      • News & Weather
      • SecureSend
      • Internet Links
      • Security Measures
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