Vendor Center Expenses or Vendor Tab 1.17

QuickBooks Online 2021 vendor center or expenses or vendor tab. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our Google search page, we’re searching for QuickBooks Online at test drive, we’re going to open up the test drive from Intuit verify that we are not a robot.


We are now in our test drive file for Craig’s design and landscaping service, we’re taking a look at the vendor cycle or the payable cycle, the expenses cycle, which can be found, or many of the forums can be found under this new tab and then under the vendors item, remembering that vendors for the purposes of QuickBooks means who we are paying to or paying something to ultimately, the vendors. And these are the forms that we went over briefly in the prior presentation. Now I’m going to jump back over to the on to the desktop version. So we can see that flowchart. Again, if I go back on over to the desktop version, we’re looking at the vendor center.



Remember, our objective is to basically visualize the transactions, not simply in chronological order, but in chronological order by section in this case, the vendor payable or expenses section, then to think about each of the bills or not, not bill one, one of the items is Bill, but each of the forms. Within these sections, visualize the sequence of forms, and then visualize what the financial transaction meaning the effect on the balance sheet and income statement, the financial statement reports will be, every time we enter one of these forms.



Now, there’s also a center that we can go to on these items to they kind of help us to track this information. in QuickBooks desktop, they call it the vendor Center, which you can get to by going on here, or you can go up top to the vendors and there’s the vendor center, so it has a nice ring to it. So many people will probably still be saying vendor center, even when they go to the online version, which doesn’t really as have as much that terminology. And this is this is the vendor center. Let’s do that same kind of thing over here on online version. So if we go to the online version, we don’t have the same kind of drop out, we don’t have that homepage.



But we do have these items on the on the left hand side. So once again, if you’re just entering forms like checks, or if you’re entering, you know, the checks for the accounts payable, paying off the bills or entering bills, you’re probably going up top and then to the transactions you need here. However, if you want to source some of the data, the other two areas, you might go one, you might go to the reports, balance sheet income statement, or a accounts payable, aging, which we’ll talk about later.



Or you might go to the expenses area, which this is instead of calling it the vendor center, this would be more like a tab on the left hand tab, which doesn’t sound as neat, but you know, you got the expenses tab, or you can call it the vendors tab as well these will go into the same kind of area, which is similar to the vendor center on the desktop version. If you go in here, you have the expenses up top and other tab up top, and then the vendors to the right, so now we have two tabs on the right within the expenses tab in the tabs to the left.



So in the expenses area, if we scroll down to the expenses, we will have basically the activity and this is going to be activity including expenses and other types of transactions which are in basically the vendor section meaning these types of bills or these types of transactions forms I should say, which make transactions meaning accounts being affected on the financial statements are the types of things that will then be in in this area of the expenses section or the vendor center, in essence, and then you can sort these easily in here.



So if you want to go look up a transaction that has already been entered, this is one place you can go and you can filter the transaction, you can filter the transaction by type. And there you see our types that are in basically the vendor cycle expenses, bills, bill payments, check, purchase order, and so on, so forth. So if I just wanted to look say for expenses, for example, I can filter by just the expenses, and I can see the transactions simply by the expenses. I can also filter up top and I can remove that filter by resetting. So I can see everything I can sort by status.



So if I want to just see the items that are open, I can go to the open items and apply that. So now we’re typically talking about bills that have not yet been paid. So they’re in the liability of accounts payable. That’s one way you can track the items that you have not paid the accounts payable. We’ve talked about the other way that you can track those items. And I’ll do this by duplicating the tab up top so I’m not leaving this window. I’m going to duplicate the tab by right clicking on the tab up top, then go into duplicate. So now I have two tabs open.



And on the second tab, I’ll be able to maneuver around outside of this expensive area without leaving this spot. So I’m going to then go to the dashboard up top. And you’ll recall if I go to this drop down in the new drop down We could sort the bills that need to be paid by using the pay bill item. We’ll talk more about that in the future. But this is one way you could sort the information that needs to be paid probably the most common way to sort because when you’re paying the bills off, you can go in here and sort the bills that need to be paid by due date, and so on and so forth.



However, going back to the first tab, you can also do that in this format by sorting the bills basically over here and looking at those open, if we go back up to the filter, again, I’m going to reset the status so that we can also sort by the payee. And basically most of them being vendors, but we could have others there as well, and the category, most of them expenses, but we can have other categories here as well. So those are going to be the sorting options that we have. And I’m going to reset this again, I don’t think I reset it. So I’m going to reset and apply.



And now we have all the transactions again. Now note that these transactions that here also look a little bit similar to where you can go, which would be the check register, which is another place that you would often look at transactions, so the items that are affecting the checking account directly, which would be things like the paint off of the bills, which is basically a cheque expense forms, and the and the cheque forms, these things can be found on just like the check register, which would be monitoring the activity in the checking account. So one way we could go, there would be and let’s do this in the second tab again,



I’m going to go to the second tab, I’m going to close this back out. So then I’m going to go down to the the accounting and I want to take a look at the chart of accounts, the chart of accounts. Now you might have something that a little green button here that you’re gonna have to check to see the accounts. And then you’ll be in the chart of accounts, the top account then being the checking account. So that’s going to be our cash account. And we have the options to the right to view the register. And some other options, I’m going to view the register. So this is basically a check register. And this is going to show us the increases and decreases to the checking account. And some of those increases and decreases you’ll see will be the checks and the expense items and the pay bill items, which are in essence the vendor cycle items.



However, in here as well, we’re going to see things like the deposits meaning the deposit side of things. So just note that the form the place that we were looking at before, some of those items, you can see on the checking account if they’re affecting the cash account. And this is often where many people will go to find those transactions. If I go back to the expenses transactions, the items that will not be on the checking account are going to be the entering of the bills.



These bills then are things that happen in the vendor cycle that do not affect cash until they’re paid off with a pay bill section. We’ll talk more about that in the future. But that’s why the bills and the tracking of the bills and those that have been paid and those that have not been paid are probably the primary thing that you’re going to be looking at if you’re going to be going into this item, the expenses item as well. And also in the vendors tab. Let’s go on over to the vendors tab now. Now remember, the vendors are the people that we are paying.



So we’re paying vendors, and we may be having people that we have not yet paid for goods and services, meaning we have an accounts payable open for them. tracking those open accounts payable is what the accounts payable department will be spending most of their time doing tracking the accounts payable, deciding when they need to be paid. Now the list of vendors is usually going to be quite long, because there’s a whole bunch of people that we end up paying in the course of the business, but we probably have some vendors that we’re more concerned with with regards to, you know, tracking their information such as when we purchase inventory, those types of vendors are probably going to be some of our most important items.



We could do batch transactions by selecting some of these vendors and then recording a transaction here email, or we can make it inactive, we have our purchase orders. Notice up at the top, we’ve got these ribbons, which can help us to track our information, purchase orders, you’ll recall and we’ll spend more time thinking about what a purchase order is in detailed in the future. But those are requests for inventory. So if it’s open, that means we request requested inventory from a vendor and have not yet received it. So this is a great section to go to to track those purchase orders which have not yet been received.



We then have the the bills here, these are the overdue bills. And notice how it kind of breaks out these bills between the overdue and then the open bill. So overdue bills are still open meaning there are bills that we have not yet paid. But they’re overdue, and therefore we should pay them. If we don’t we might be subject to some type of penalty. Once again, this is the area that many times people will track these bills. And when you pay them, I’m going to go to the second tab again, you might then go to the pay bills section. And this is where you’d have those those bills, you know the open bills that you that you would need to pay and you could sort them to some degree here as well. So I’m going to go back on over.



So going back to the vendor section. So we have the overdue and then the open bills. And then we have the items that 21 paid last 30 days. And so these are going to be the items that were paid. So for example, if you’re using You know, this area, you might be of course asking which bills are going to be due which bills are going to be passed due? As a nice little feature up here to have that if there’s questions about if a vendor calls and says, Hey, you know, I got a question about a bill that hasn’t yet been paid, then we can go over here and check, you know, whether the bill has been paid here. Or we might then go search for the vendor themselves.



And then check the detail to see whether or not the bill had been had yet been paid, if it hadn’t had been paid. And the vendor says they hadn’t received it. And if it was a check, we might then want to see if the check had cleared the bank and basically go from there. Also note up top you have our items where we have the 1099 information, pay bills and order checks. And then we have the vendors where we could set up a new vendor here, if we so choose. We can also set up new vendors basically as we go as we enter transactions as we enter for example, bills and checks, checks, bills and expenses. So we’ll talk more about that in future presentations.


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