Tuesday, March 18, 2008

Micosoft Office Accounting Part Nine- Paying Bills

MicroPodCast – Podcasts for Microsoft Office Accounting Users. Useful bookkeeping, software, and business tips for MS Office Accounting users, consultants, and business owners. Today's topic in our series of tips for MS Office accounting users is PAYING BILLS.

The idea is that you can get an overview of all your bills at once and pick the ones you want to pay based on your available funds, the due date and the cash discounts.

This is how you use the pay bills worksheet:

- Select an account to Pay from and a Payment method (these will be remembered the next time you use the pay bills worksheet).

- Use the Filter section of the worksheet to only see bills before a certain date, for a certain vendor or using a certain preferred payment method.

- Sort the bills by clicking any column in the grid – most people sort on either due date, discount data or cash discount.

- Select the bills you want to pay by checking the checkbox next to the bills or select all bills by clicking the checkbox in the top of the grid.

- You can edit the cash discount amount for each bill by clicking on the link in the Cash Discount column (for penny differences).

-You can apply vendor credit memos to a bill by clicking the link in the Credits column and selecting the vendor credit memos you want to apply.

-When you have selected the bills to pay, click the Save and Close button to create the vendor payments. This will bring up a dialog box to add a memo and a check number:

- If the checks are marked for printing, you will have to go to the Issue Payments form to print the checks.

- Office Accounting supports paying bills by cash, check online or credit card.

- You can go directly to issuing the vendor payments by clicking the Issue payment button on the pay bills worksheet.

I hope these Microsoft Office Accounting tips are helpful. If you are using QuickBooks, check out our new QuickBooks series or visit The QuickBooks Gal podcasts.

Next Time: Receiving Customer Payments

If you have questions, drop me a line at info@custmbiz.com. I look forward to your comments and questions. Custom Business Solutions supports many software accounting packages such as QuickBooks and Peachtree as well as a variety of Point of Sales programs.