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Bills: Tracking bills and credits

Track your bills and credits using an accounts payable account in your Chart of Accounts (Lists > Chart of Accounts).

bill

What vendors send you so that you'll pay them. You can record bills for expenses such as utilities or office supplies, or for items you've ordered and received from vendors. When you enter a bill, QuickBooks automatically posts the amount to the correct expense account and updates your company's balance with the vendor who sent the bill.

Tips for using accounts payable:

What you can do with your bills and credits:

credit

Money a vendor owes you. For example, you returned something or your invoice has been adjusted.

accounts payable

The record of all your outstanding bills. Accounts payable is called A/P for short. QuickBooks uses a single account on the chart of accounts to track all outstanding bills.