hi I'm Aimee from Razor accounting the sharp solution are your finances in this
video I'm going to show you how to record accounts payable transactions
using the general journal instead of the accounts payable module you may want to
do this if your accountant has given you some
adjusting entries to make for your year-end or for any other purposes or
maybe you just prefer the general journal over the accounts payable module
so let's get started I'm starting from the home screen right now and we're
going to navigate up to the top menu bar select company and go down to the bottom
where it says make general journal entries and this will open up the
general journal transaction screen so in here when you're recording accounts
payable the most important thing to remember is the accounts payable account
itself needs to be in the top line if you try to enter an expense or an asset
in the top line here QuickBooks will not let you record the transaction so I'll
show you what I mean by that so let's just pick a supplies expense off the
supplies we'll put it in as $50 and then accounts payable will be the second line
here and you'll see that we get an error message here it says warning select a
different account for this line you can only select an Accounts Payable or
accounts receivable account on the first line of a journal entry so basically is
telling you it will not record the transaction unless accounts payable is
on the top line so Foot accounts payable on the top
or transaction again now this is really important you need to put the name of
the supplier here under neem and you'll notice that you have a drop-down here so
you should have already setup your vendors or suppliers in accounts payable
to make this go faster if you don't know how to do that I do have a video on
setting up vendors for accounts payable so you can watch that or if you've
already set them up you can select your vendor from the drop-down I'm just going
to select a nice organic dog food and then I'm going to select the expense
here so we're just going to put it in as a supply we'll put it in a store
supplies so once you're done your entry all you need to do is select save and
close if you're finished or saving you so we'll just select save and new so we
can pay this bill in the general journal as well but again remember you have to
put accounts payable as the top line of the journal entry so we'll put accounts
payable now we're going to debit accounts payable to get that $50.00 out
that we just put in and in the memo I'm going to put payments on accounts
payable and I'm going to put this buyer name now again this is really
sure that this works properly you have to put the supplier name in the name
column here so it knows where to allocate the payment so select your
supplier and then this line down here is going to be your payment so if you're
paying with a bank account or if you're paying with a credit card you need to
select the appropriate account here so we will do a bank account for this and
I'll use the CIBC Bank once everything is finished all I need
to do is select save and close or a safe and new to complete the transaction now
even though you have not recorded this using the accounts payable module it's
still going to end up in accounts payable of course because it is an
Accounts Payable transaction so that means that you can still find all these
transactions in your regular accounts payable reports so I'm going to just
close this screen here so I'm going to click Save and close and I'll just show
you that we can find these transactions in accounts payable so I'm going to go
to vendors vendor center and there's Amy's organic dog food and you can see
the transaction is here and accounts payable in the vendor center and you can
also look through your accounts payable reports if you go into the report Center
select vendors and payables it's not going to show up in the aging summary
because we've already paid it it's come in and out of accounts payable but it
will show up in the accounts payable aging detail so let's look at this one
I'm just going to enlarge the screen so again this is an accounts payable report
and here it is so we can see the transaction coming in and out of
accounts payable so that is it for recording accounts payable transactions
using the general journal if you do have any questions about this please leave me
a comment and I will be sure to answer you as quickly as I can
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