accounts payable and receivable.

[trina walton]

Hello, all. I am NOT an accountant, so getting around in SBA is not the
easiest for me. Question: If I have a debit to an expense account - let's
say it's for travel . . . and it is a bill that needs to be paid in the
future . . . how on earth do I credit my accounts payable account? I can do
nothing with my accounts payable or accounts receivable accounts. They are
always at zero, and I cannot enter a journal entry to either account. How do
these accounts work? Thank you, anyone, who has an answer.

 

[hhoffman50]

Hi

Try selecting 'Vendor' in the Type column of the Journal Entry and then
select the actual Vendor in the Account column. Enter the credit amount and
post. The Accounts Payable account should be updated accordingly.

Harold Hoffman

 

[Brenda Richter, CPA]

Do not use journal entries to record accounts receivable & accounts
receivable transactions.

Since you are not an accountant you should never use the journal entry
function unless your CPA instructs you to.

To record accounts receivable transactions, go to "customers" click "new
invoice" and then complete the invoice. Use "receive payment" when your
customer pays you.

To record accounts payable, go to "vendors" click "enter bills". Use "pay
bills" when you want to pay your bills.

 

[trina walton]

Thanks so much to both of you . . . I can now see where my accounts
receiveable bills are showing up in the A/R account after I have entered them
into the Vendor Bills template. I appreciate the help!