QuickBooks Bill Pay-Summary & Setup

See also: https://quickbooks.intuit.com/learn-support/en-us/help-article/manage-workflows/set-roles-permissions-paying-bills-quickbooks-bill/L0Z0K2aXV_US_en_US?uid=lpwnvkru

QuickBooks Bill Pay: Summary & Setup Steps

Overview

QuickBooks Bill Pay helps small business owners automate paying bills & managing accounts payable.

Benefits of QuickBooks Bill Pay

1. Automatically record & pay bills.
2. Pay vendors via ACH bank payments or paper checks.
3. Schedule payments.
4. Track & issue 1099s, Vendor & Contractor Management
5. Assign roles & permissions for bill approval workflows.
6. Limit access to financial data, Security

How QuickBooks Bill Pay Works

1. Use QuickBooks Checking or Another connected bank account.
   • Pay vendors via ACH bank payments or paper checks.
2. Enter your bank account info.
   • Choose payment method (ACH or check) & schedule the payment.

Steps to Set Up Bill Pay in QuickBooks

1. Expenses, Bills.

2. Green Add bill or select an existing unpaid bill.

3. Click Schedule Online Payment or Save & Schedule Payment.
   • For new bills, choose Save & Schedule Payment.
   • For unpaid bills, schedule from Expenses, Vendors, or Bills.
4. Select the bank account you want to use for payment.
   • Choose from connected banks or add a new account.

5. In the Payment account in QuickBooks dropdown, select the corresponding account or add a new one.

6. Choose the payment method ACH or check.

7. Set the Withdrawal date for when you want funds to be withdrawn, up to 90 days in advance.

8. Review the payment instructions & select Schedule payment.

Which of the following statements about QuickBooks Bill Pay are correct? Select all that apply.

You can connect a new bank/credit card to QuickBooks Online from the QuickBooks Bill Pay tool
When you use QuickBooks Bill Pay, you can choose whether to pay a bill by ACH transfer or paper check
The first time you use a bank/credit card account with QuickBooks Bill Pay, you need to match it to the corresponding bank/credit card account in the chart of accounts

That’s correct. You can connect a new bank/credit card to QuickBooks Online from the QuickBooks Bill Pay tool. The first time you use a bank/credit card account with QuickBooks Bill Pay, you need to match it to the corresponding bank/credit card account in the chart of accounts. You can choose whether to pay a bill by ACH transfer or paper check.

QuickBooks Bill Pay: Setup & Usage Guide

Overview

QuickBooks Bill Pay is a tool within QuickBooks Online that simplifies the process of paying vendor bills. It allows users to schedule payments, choose payment methods (ACH or check), & manage accounts payable efficiently.

Learning Outcomes

This guide covers:

1. Overview of QuickBooks Bill Pay
2. Signing up for QuickBooks Bill Pay
3. Setting up roles & permissions
4. Paying a bill
5. Tracking bill payments
6. Canceling a scheduled bill payment
7. Exploring QuickBooks Bill Pay further

Features of QuickBooks Bill Pay

• Streamlined Payments: Pay all vendor bills directly from QuickBooks Online.
• Schedule Future Payments: Avoid late fees by scheduling payments in advance.
• Multiple Payment Options: Send checks or ACH payments quickly.
• Vendor Flexibility: Vendors don’t need a QuickBooks account to receive payments.
• Availability: Accessible via QuickBooks Online & its mobile app.
• Subscription Plans: Basic, Premium, & Elite plans available.

Signing Up for QuickBooks Bill Pay

• From the Bills Tab: Go to the Bills tab in the Expenses center.
• From a Bill: Sign up when creating or editing a bill.
• Choose a Subscription Plan: Select the plan that best fits your business needs.

Setting Up Roles & Permissions

• Available for Bill Pay Elite subscribers.
• Three roles:
  • Bill Approver: Approves bills but cannot pay.
  • Bill Clerk: Adds bills & marks them as paid.
  • Bill Payer: Views, pays bills, & edits vendor info.

Paying a Bill

• From the Expenses Center:
  1. Go to Expenses > Bills.
  2. Open the Unpaid tab & select Schedule Payment.
• When Creating/Editing a Bill:
  1. Select Save & Schedule Payment.
• Steps:
  1. Choose the account to pay from.
  2. Select a payment method (ACH or check).
  3. Review & confirm the payment details.

Tracking Bill Payments

• View Paid Bills:
  1. Expenses / Bills
  2. Select the Paid tab or Show Bill Pay payments from other tabs.
• Payment Status: View payment status & due dates.

Canceling a Scheduled Bill Payment

• Steps:
  1. Select Show Bill Pay payments from any tab in the Bills center.
  2. Click View details in the Action column.
  3. Select Cancel this payment in the View payment screen.
  4. Confirm cancellation in the popup.

Further Exploration

• QuickBooks Bill Pay Page: Learn more about features, benefits, & subscription plans.
• Detailed Article: Covers advanced tasks like partial payments, editing vendor info, & canceling subscriptions.