link check cleared on bank statement with bill on AP

Josie,

QB prefers you to "write" the check as a bill payment check in QB when you do the online transaction. By doing it this way, QB matches the bank item to the QB check.

You can "expense" the downloaded transactions to "Accounts Payable" but you must use the vendor name in the "Customer Name" column in the bottom portion of the check.

Depending on the version of QB and how you have it setup, QB may prompt you to approve applying the payment to an outstanding bill. If it doesn't, you need to go to "Pay Bills" and apply all of the downloaded payments to the proper invoices. The amounts will appear as credits in the pay bill window but only after you check a bill to be paid. The set credits will energize at the bottom of the screen.

QB has an online bill payment feature for just a low, low $15.95 per month that allows you to pay 20 checks through the pay bill feature. It may be easier and less expensive for you to use the pay bill feature and set the checks as "To be printed" or number the checks generated as ACH or EFT or OLB when you create them on your bank's website.

Hi Robert!

Okay I understand what you're saying. But I think you understood I do payments online..... 

This is what I do:

Record the bill on Vendor screen;

pay the bill using Pay Bills;

assigned the check number (as we write the checks).....

the I download the bank statements so I can see what was cleared or not, and try to match (link) the checks paid with vendor bills...

what else do I need to do?

I understood that QB, once you downloaded your bank statement, will match (link) the checks cleared on your bank account with what you have assigned on Pay Bills.... (based on check number, amount, etc...)

As you said, maybe I don't have the set up to apply the payment to an outstanding bill.... but I know QB has this option.... maybe not in QB Contractor 2008?

I used QB Pro 2009 in other company and it had....

Not just that, when I asked a report for Expenses by Vendor Detail, it doubles the amount paid to the vendor..... (as I wrote the check, and also links the check cleared on the bank account).

Any idea what could possible be happening?

Robert  thank you for your help!!!!!
 

QuickBooks recognizes or matches a transaction based on the amount and NUMBER of the transaction. So, QB does not match your check in QB with the check that clears the Bank.

You can change the check number in QB to conform to the check number from the Bank or you can do it the easy way. Number all of your Online Payments as "OnLine". QB then ignores the non-number and will match amounts!

Call me if you have questions.