Accounts Payable-Vendor Management
QuickBooks Online is a widely used accounting software with several features for managing accounts payable. Here are key skills and tasks related to QuickBooks Online Accounts Payable:
📌 Vendor setup: Create profiles for vendors with their details and payment preferences.
📌 Recording bills: Enter bill information, including vendor name, invoice number, and due date.
📌 Tracking expenses: Categorize and track expenses related to accounts payable.
📌 Bill payments: Easily make payments to vendors, recording them against bills.
📌 Managing accounts payable aging: Monitor outstanding bills by due date.
📌 Reconciling vendor statements: Compare statements with recorded bills and payments.
📌 Vendor credits: Record and apply credits or refunds from vendors.
📌 Reporting and analysis: Access reports on payables, vendor balances, and cash flow.
📌 Integration with bank feeds: Import bank transactions for easy reconciliation.
📌 Automation and efficiency: Utilize features like recurring bills and scheduled payments for streamlined processes.
These tasks enable effective management of accounts payable using QuickBooks Online.