QuickBooks Vendors and Accounts Payable
4.2 (27 ratings)
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QuickBooks Vendors and Accounts Payable

Learn every possible vendor and accounts payable situation in quickbooks. You be able to assure correct payable result
4.2 (27 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
473 students enrolled
Last updated 8/2016
English
Current price: $10 Original price: $20 Discount: 50% off
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Includes:
  • 2 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What Will I Learn?
Record any possible Vendor or payables transaction in to quickbooks
Interpret the most important vendor reports
find and fix any mistake related to vendors and payables in quickbooks
Reconcile quickbooks with vendor statements to ensure perfect accuracy
View Curriculum
Requirements
  • basic understanding of bills and paying bills
  • basic computer skills
Description

This course will teach you every possible vendor or accounts payable situation that you could possibly encounter while using quickbooks.

You will learn how to: enter bills, pay bills, record credits and refunds from vendors, record vendor terms and take the early pay discount and apply discounts and credits to specific bills.

You will be able to use the vendor reports to find and fix any accounts payable mistake.

Most importantly, you will be able to reconcile your accounts payable record with your vendors from the vendor statemnts that you receive. Your QuickBooks records regading vendors and accounts payable will be correct to the last detail. This means you can reapply payments to different vendor bills and confirm they are correct with the bill history tool.

Who is the target audience?
  • Anyone who is using quickbooks to manage vendor / accounts payable records and transactions
  • anyone studying for the certified quickbooks user exam
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Curriculum For This Course
Expand All 16 Lectures Collapse All 16 Lectures 02:02:11
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Everything you need to manage vendors is right here
16 Lectures 02:02:11

This course will teach you every possible vendor or accounts payable situation that you could possibly encounter while using quickbooks.

You will learn how to: enter bills, pay bills, record credits and refunds from vendors, record vendor terms and take the early pay discount and apply discounts and credits to specific bills.

You will be able to use the vendor reports to find and fix any accounts payable mistake.

Most importantly, you will be able to reconcile your accounts payable record with your vendors from the vendor statement that you receive. Your QuickBooks records regarding vendors and accounts payable will be correct to the last detail. This means you can reapply payments to different vendor bills and confirm they are correct with the bill history tool.

Preview 02:00

You will learn what the term "accounts Payable" really means. This lecture will give you an overview of this course and its goals.

Preview 08:35

You will learn how to record into quickbooks bills that you receiv from vendors. You will learn the mportant details that relate to this and the results of entering bills.

Entering Bills from Vendors in to quickbooks
09:21

You will practice entering bills in this video. You will apply what you learned in other sections to find and fix data entry mistakes

Enter bills excercise
02:06

You will see step by step, how to pay bills in quickbooks. You will see what the results are in the reports after paying vendor's bills

Paying vendor's bills - exact amount
08:04

Paying only a part of a vendor's bill can be tricky. You need to know whhat bill the paymnet is applied to and how to fix it if you make a mistake

Making Partial Payments to Vendor's Bills
04:38

You will practice the basic payable transactions dong data entry with different bills and bill pyments. You must compare your results to the results in the video. If they are different, you must use what you learned to find and fix mistakes

Vendor transaction practice set
02:28

Apllying a bill paymnet to the wrong bill is the most challanging mistake to find and fix. You will learn how to do that in this video.


Fixing vendor's misapplied paymnets
06:03

Vendors give us credit for any problems we may have had with the service that they billed us for. The credit decreases what we owe them, This video will show you how to enter the credit and what the reports look like as a result.

Credits from Vendors
10:59

This video shows how to record refunds when vendors return some of the money that we paid them. It shows the results of the refunds in the relevant reports

Refunds from vendors
03:57

You will learn how to set up and record an "early pay" discount from vendors.

Vendor discount terms
12:36

There are several ways to record and manage prepaid expenses to vendors. This method is called "check to accounts payable". It's not perfect but it is acceptable and your accountant would still need to make an adjustment. The method I invented is better and it will be shown in the next video.

Prepaid Expenses- method 1- pay to accounts payable
09:44

I invented this method many years ago. It is much better at handling prepaid then the commonly accepted "pay to accounts payable" method in the previous video. 

Prepaid Expenses - "pay from prepaid" method - invented by Mark Smolen
08:46

This video will make the "pay from prepaid method complete. It's very very easy!! It just takes a few steps and you may never even need it but if you do, it's here!!

Bonus video- prepaid running balance
10:44

I am including a lesson on Journal Entries because you must know how to record them to be able to record paying and adjusting for prepaid expenses. The video that will follow this one is the one that will show you how to deal with  "time based" prepaid expenses.

Preparing for Prepaid with journal entries
13:13

Prepaid expenses that we will use over time, rather than use in specific events, must be adjusted by using journal entries. After you learn this, you will be able to manage every possible vendors /. payable situation. 

Recording and Adjusting for Prepaid Expenses
08:57

Summary Test for Vendors and Payables
10 questions
About the Instructor
Professor Mark Smolen
4.6 Average rating
149 Reviews
5,013 Students
14 Courses
Professor of Computerized Accounting

I have 2 decades of experience teaching Computerized Accounting. I have taught QuickBooks at A.S.A college in Manhattan New York. I have made my lessons available to job training schools for adult education and have helped place hundreds of students in good paying jobs using QuickBooks and other software that they learned in my class. I am a permanently licensed teacher by the New York State Education Department. I am also a Certified QuickBooks Pro adviser. I have made these videos by determining what my clients needed and how effective they were in real life situations. I enjoy helping students turn frustration in to a feeling of comfort and satisfaction with QuickBooks