and now it's time to pay some of the bills that we just entered in this particular video we will
learn how to pay the exact amount of a bill and in a future video we will learn how to pay partial
payments if we pay an exact amount of a vendor's bill exactly what will change well obviously the
trial balance changes because that changes for every transaction the vendor balance detail
will change because if we pay one of the previous bills the balance of the vendor goes down but now
that we're paying the bills we have to ask the question what specific bills are still unpaid
we need a report that will show us that the most important report in this video and in the section
of accounts payable is the unpaid bills detail the unpaid bills detail allows you to distinguish
between which bills in your QuickBooks file are paid and which bills and your QuickBooks filed
are not yet paid let's take a look at the unpaid bills report from the main menu click reports
vendors and payables unpaid bills detail don't forget to change the date pull down to all to see
the results of all transactions regardless of date as you can see these are all the bills we entered
from the previous video none of them are paid that's why they all show up here on the unpaid
bills detail as soon as we finish paying off one of them whatever bill we pay off will completely
disappear from this report let us imagine on April 23rd we paycheck number 208 - wrecks
repair for the bill that wrecks previously sent us number six - six - this is the exact amount
of the bill the check is for two thousand dollars once we record the bill payment for this bill this
particular bill will disappear from the open invoice rapport so when we take a look at the
unpaid bill report we can see that this bill is the bill that we are paying and therefore
after we record this bill payment this bill will disappear from the unpaid bill report and wrecks
repair we'll only have one bill remaining on the unpaid bill report to record a bill payment from
vendor from the main menu click vendor pay bills and the pay bills window opens up you can show
all bills in the panel or you can show bills due before a specific date we will leave the show all
bills selected and we will sort specifically by vendor on your own time you can explore and
experiment with the filter to help you see the bills a little more clearly it might be helpful
to filter by the specific vendor that you're paying in this case we're paying wrecks repair
so if you sort by vendor and filter by vendor you can choose just the vendor that you're paying and
see only that vendors unpaid bills to record the date that you're paying click the bottom left
and bring forward the calendar box we're paying exactly what are we paying we're paying April
23 so April 23 we're paying by check ass we will we will not print we will assign the check number
ourselves because the check number was given in the transaction this is the bank account that
we're paying from now this is the bill that we're paying if you're paying an exact amount it's very
simple just click the check mark and QuickBooks assumes you're paying the entire bill in this
case we are paying the entire bill so that's all you have to do find the vendor with the sort and
the filter make sure that you have the right date and the right bank account make sure that you're
going to put the check number or print it later and again remove the check mark the payment to
zero put the check mark to pay the exact amount of the bill now when we click pay select bill we
have a request for the check number in a pop-up window that's because we this is a handwritten
check check number 208 now when we click OK we confirm and we click done now when we go
back to the report called unpaid bill detail of course we're going to push a for all AHA now you
can see there is now only one unpaid bill for ex repair because the other bill has been paid
and therefore will not show up on the unpaid bill report when you look at the unpaid bill report you
only see the result of the payment you see the bill is missing so where is the actual payment
that we just recorded the actual payment that we just recorded is listed in the vendor balance
detail and as you can see when we look at our good friend the vendor balance detail you can see under
ex repair the two original bills in earlier dates and of course the transaction for the latest date
for ex repair was checked number 208 as a -2 the balance of wrecks repair this is the bill payment
that we just made when we double-click to see it we notice that the bill payments window is the
only window that looks different when we come back to it after we save it when we originally
opened up the pay bills window would actually look like this however after we saved it when we reopen
this bill payment this is the way it will look the panel that shows the choice of the bill is at the
bottom and the top part looks just like the right of checks window that we learned about earlier but
this is how you find the bill payment you can go to the vendor balance detail and see all the bills
and all the payments for that vendor and the last question is what happens in the trial balance when
you do a bill payment to a vendor well accounts payable represents what we owe to vendors so if
we pay Accounts Payable goes down cash and Bank represents what we have in the bank and we all
know that when you pay your cash and bank goes down here's the accounts payable account as you
can see it's slightly less when we double click we can take a look at the very last transaction
and account payable this bill payment check for two thousand notice it brings the balance down
from 13 to 8 to 85 to 11,000 to 85 a decrease of $2000 for this particular transaction you may also
notice that in cash and bank when you double click the very last transaction at the bottom
of cash and Bank is this very same bill payment bringing the balance of cash and bank to a lower
amount thirty three thousand seven hundred fifty three or whatever the number should be