How do i make a pament made by 3rd party in QB?

A group company paid an invoice on our behalf, how do i make the payment in the invoice on my end?

Didn't find your answer?

One of our brother company paid an invoice on our behalf, on my end i had already posted the invoice in quickbooks, now that it has been paid how do i make the payment? without crediting our bank account? I would appreciate short and precise answers. Thank you

Replies (7)

Please login or register to join the discussion.

avatar
By Matrix
01st Aug 2018 10:52

Set up an intercompany account.

Thanks (1)
By johngroganjga
01st Aug 2018 12:59

Debit the unpaid invoice and credit the inter company account. Then make sure your balance on the inter company account agrees with the other company’s.

Thanks (1)
By coolmanwithbeard
01st Aug 2018 23:06

Agree with the approach suggested already - specifically for QB if you don't have an intercompany account set it up as a long term liability account (desktop) or current liability account depending on how long you will take to repay (wihin 12 months or longer).

When you use accounts payable on a journal entry you need to use the suppliers name in the name column. Do not use any VAT entries.

You will need to use pay bills to associate this payment with the bill or you will have the two transactions on your A/P reports. Pay the bill with a credit. This creates a zero transaction but it still needs a payment account, use your cash account for ease.

Mike

Thanks (1)
Replying to coolmanwithbeard:
avatar
By Alice N
03rd Aug 2018 08:30

Thanks Mike, this is what i have been missing all along, really appreciated.
Alice N

Thanks (0)
avatar
By Alice N
03rd Aug 2018 08:29

Thanks alot guys, you have been really helpful.
Mike your feedback was very detailed but straight to the point. I really appreciate

Alice N

Thanks (1)
Img
By MissAccounting
03rd Aug 2018 09:30

I had an answer for you but it wasn't short and precise, sadly.

Thanks (0)
avatar
By Alice N
04th Aug 2018 09:34

Miss Accounting
Hahaha thanks but i think whats important is that i get the point, whether its from a long reply or a short one. I appreciate any help.
Alice N

Thanks (0)