#3 of 8 - Run an Unpaid Bills Report in QuickBooks

#3 on the list of "8 Things Every Business Owner Should Know How to Do In QuickBooks"

Run an Unpaid Bills Report in QuickBooks

  • HOW?  Reports – Vendors & Payables – Unpaid Bills
    • You should see only a) bills that have not been paid, or b) unapplied credit memos (a negative amount).  
    • If there are negative balances, look at the “Type” column.  If you see:
      • Credit Memo = a credit memo was created to reduce the amount you owe a vendor.  
      • Payment = A payment was entered using the QB Bill Pay function, but there was no bill to apply it to.  To clean this up
        • Enter the bill, then open the Payment and check of the bill 
      • Check = A Check was posted directly to Accounts Payable and the QB Bill Pay function wasn’t used).  To clean up, either:
        • Enter a bill, then apply the credit
          • Vendors - Pay Bills - Set Credits
        • Change the account FROM Accounts Payable TO the proper expense account (assuming the check is not from a closed period)
          • If Check is from a closed period, use the first option