Entering Vendor Balances

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You will need to enter an Operating Expense for each bill listed on your open Accounts Payable (#4 above).  See Operating Expense or Miscellaneous Bill under Accounts Payable for more information. On each entry, use the appropriate Expense or Cost of Goods Sold Account(s) for the Vendor payable.  After you make the entries, print an Aged Accounts Payable report under Accounts Payable reports.  Check to make sure that the report matches your list.