 QuickBooks Online 2022 OneNote Presentation. Pay bills form check. Let's get into it within two weeks. QuickBooks Online 2022. If you have access to OneNote would like to follow along icon left hand side topic introduction 1200 pay bills form check tab also take a look at the immersive reader tool the topic introductions are in the text area to same name same number but with transcripts transcripts it can be translated into multiple different languages and either listened to or read in them same name and numbers presentations as well the topic introductions designed to give an introduction to the topic provide screenshots of links where applicable give accounting background to complement the presentations and can be used to follow along with them if you don't have access to the software at that time closing the icon on the left hand side we're looking at the pay bills form remember that the bills are going to be the first form that we enter into the system when we're on the purchasing or expense side of things and we're on an accrual basis method increasing the accounts payable and then we have the pay bill form which is in essence a check but a special check which will be indicated as a pay bill form which indicates a decrease to the accounts payable so we're going to scroll down this is up top we have the business view or this is the accounting view and then down below we have the business view and the accounting view when we go into the centers we can call this the expenses center or the vendor center and that's what will be located primarily when we're talking about the bills and the pay bills down below in the business view we would be in the get pay or in this case the pay center they're combined together and we could also find some of the activity by transaction in the bookkeeping area then if we went to the new drop down up top we had the bills bills would be increased in the accounts payable remember the distinction between a bill in terms of normal parlance if you get a bill from say Verizon that is different than entering the bill into the system because we could pay that physical bill with a check or an expense form or we can put it into the system as a bill form increase in the accounts payable which we could then later pay with a pay bill form which is a form of check or decrease to the checking account form but one which specifically decreases the accounts payable we're now in the expenses tab over here which could be called the vendor center on the expenses side of things which in the other view the business view would be under the bookkeeping and transactions area and we can sort then if we so choose by the bills possibly sorting by the bills that are outstanding determining which bills we would then want to pay we can go to the vendor side of things and also look at the vendors that we owe money to also being able to determine which bills we would like to pay and schedule payments here we can go to the drop down up top and enter the pay bills this is another window that will help us to sort the bills that we need to pay and pay multiple bills at one time helping us with our money management strategies if we look at our reports this is the reports for the accounts payable notice there's only really two forms involved here the bill increasing the accounts pill payable and the pay bill decreasing it the pay bill in essence being a check type of form but specific check that's designed to decrease the accounts payable that if we go back into the pay bill area we drill down onto the bill you have a similar screen as with the data input for the pay bill but now it's just linking to the bill that we have been that we have basically paid here and then we've got another pay bill activity noticed here we're tying into the bill that had been paid and so now actually we linked now to this bill clicking on that bill I believe and that then goes to the actual bill which now is indicated as pay and also has a link to the one payment made on it so you got those nice links if we go back into the transaction list the transaction detail we can see the bills that are that are outstanding we could see basically the pay bill activity here and we could see it going in and out of the account in that format as well when you look at the accounting just related to a pay bill type of activity when you enter the bill the bill is the one that increases the accounts payable and if it was for an expense the expense would be entered at the point in time the bill would have been entered so it would look something like this these are the beginning balances these are the ending balances are transactions in the middle we would be paying for the office supplies here debiting office supplies 750 crediting the accounts payable that would have an impact in this case of the accounts payable going up this would be the bill form kind of transaction or the journal entry related to it goes up by 750 to 2003 50 and the office supplies went up from 490 by 750 to 1240 if we look at the general ledger we were at 490 it went up by 750 to 1240 we were at the accounts payable of 1600 up by 750 to 2300 and 50 the sub ledger for accounts payable now is increasing we're going to say vendor for going up by 750 750 plus 600 for vendor to 700 for vendor one 300 for vendor three adds up to 2003 50 which matches the GL the trial balance and the financial statements we can then take a look at the financial statements and see the end result which would basically be constructed from the trial balance that's how it would generally we would think of the construction process happening when we're making the books from scratch data input form could be the form creates the journal entry which goes to to the journal general ledger which goes to the trial balance and then creates the financial statements if we then pay the bill then the pay bill form records a transaction with regards to journal entries looking something like this the checking account going down with a credit accounts payable going down with a debit so now the checking account goes down this would be the pay bill form now and then down below we've got the accounts payable which is now no doubt we had an increase and decrease so if I look at the general ledger checking account was at 100,000 we wrote the check which is that special check it's just a check really but we can indicate it as a pay bill check 750 down to 99 to 50 the accounts payable was at 2003 50 and then we brought it back down with the debit back to that 1,600 if we look at the detailed buy vendor then we can see the detail for this vendor was at 750 up and then it went back down so now we can add up the other three vendors the 600 the 700 the 300 adds up to the 1,600 tying out to what's in the general ledger and trial balance we can then construct basically our financial statements from the trial balance so remember the general rule in terms of what's happening and like a quick book system is that if you think about entering the bills that actually creates if you think about it in order that creates the financial transaction in the in the journal and then it's posted to the general ledger accounts over here the general ledger accounts are then used to create the trial balance the trial balance is then what is used to create the actual financial statements what we actually see in quick books in the way we typically use a quick books or any accounting system is we enter the bill and don't actually see the bare bones of the of the journal entry that is impacted and which is can be good because again the forms that we have in place we got this connection between the forms the bill form in the pay bill form which you can't see if you just do the journal entries so it adds more context you don't want to enter just journal entries into the accounting system but these journal entries are what are being made as we enter the bill form and the pay bill type form and then and then we usually jump all the way to the financial statements all the way over to the financial statements look at the end result possibly drill down on something like the accounts payable for example and when we do that we go into something that's like a general ledger type of account that gives us the data by transaction date by date of transaction then we might want to see the accounts payable by who we owe the money to which means we might run a different report or look in the detail in the vendor center for example for like a sub ledger type of report which would look something like like this report we had over here with the three vendors and looking at the activity in the vendors so so that's the kind of the difference between how what's actually being constructed by the accounting system and you know kind of how we use QuickBooks doing the data input jumping to the end result and then drilling back down to the source