If you are making a down payment on a Purchase Order or a prepayment on an invoice, you can start by making the payment in Veem, attach any documentation required, AND export it Quickbooks as a bill.
Veem lets you allocate to the correct expense account and if you are using the Class or Department tracking features you can enter this information on the payment.
Alternatively, if you want to leave your accountant to organize things, Veem will create an expense clearing account where you can allocate the bill for your accountant to reconcile from there.
Learn how to provide your accountant with access to your Veem account.
How do I access this new feature?
When you have connected Quickbooks to your Veem account, click the drop-down to "Send Money & Create Bill" from the dashboard in Veem:
How do I make a payment and export it to Quickbooks to create a bill?
In the "Send Money & Create Bill" flow, enter the payee information as you usually would. Enter the bill amount into the amount field, add the due date and the expense account.
When you are satisfied the information is entered correctly, click next and Veem will ask you what vendor you want to link the bill to. You can also search the list of available vendors in your Quickbooks account.
If you are paying a new vendor, Veem can create the vendor for you in Quickbooks and allocate the bill/bill payment to them automatically.
If you have paid a Vendor before through the Veem integration with Quickbooks, you may not see this screen because the Vendor is already linked.
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How do I make a prepayment, down-payment, or partial payment?
If you are making a down-payment on a purchase order for example, click "Split" and you will see the 'partial payment' feature drop down. Here you can enter the total bill amount AND the down payment amount (in either % terms or by amount).
Now Veem will create a bill in Quickbooks for the full amount AND the partial payment amount on the bill in Quickbooks Online.
How can I track where a bill has gone in my Quickbooks?
Tracking is easy. Once you have sent a payment, you can find the bill ID and what expense account the bill got added to in the payment details section. Click on the payment ID in the Transactions tab to view the payment details.
Payment details:
Still need help? You can chat or call our Customer Success team here.