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Bookkeeping Outstanding Balances On Invoice

Author : proadvisor quickbook

Submitted : 2012-07-05 00:00:00    Word Count : 614    Popularity:   Not Rated

Tags:   Quickbooks, Proadvisor, Philadelphia

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Outstanding Balances on Invoice n In entering bills every month,one thing a business owner or bookkeeper should try to avoid is paying a bill twice.After being an auditor for years,bills are often paid in duplicate if there is no effective matching of Purchase Orders, Invoices, and Receiving Reports and paying little attention to prior outstanding balances.Prior outstanding balance is a prior unpaid invoice that is summed with the current invoice to add to the current invoice total.Its a way a vendor will notify its customer that another bill was unpaid and the total sum that you currently owe and pending.Here are the tips on how to properly handle Prior Outstanding Balances on invoices.A good bookkeeper should be able to do the following: n 1.Identify that a bill amount included the prior outstanding balance and enter only the invoice total that matches the Purchase Order and Receiving Reports. n 2.Investigate the prior outstanding balances by looking at invoices in dispute or unmailed payment to vendors or simply by calling the vendor to identify if a bill was lost in the mail. n n Whatever happens, never pay prior outstanding balance without investigating them and avoid duplicate payments.

Outstanding Balances on Invoice n In entering bills every month,one thing a business owner or bookkeeper should try to avoid is paying a bill twice.After being an auditor for years,bills are often paid in duplicate if there is no effective matching of Purchase Orders, Invoices, and Receiving Reports and paying little attention to prior outstanding balances.Prior outstanding balance is a prior unpaid invoice that is summed with the current invoice to add to the current invoice total.
Here are the tips on how to properly handle Prior Outstanding Balances on invoices.A good bookkeeper should be able to do the following: n 1.Identify that a bill amount included the prior outstanding balance and enter only the invoice total that matches the Purchase Order and Receiving Reports. n 2.Investigate the prior outstanding balances by looking at invoices in dispute or unmailed payment to vendors or simply by calling the vendor to identify if a bill was lost in the mail. n n Whatever happens, never pay prior outstanding balance without investigating them and avoid duplicate payments.

if there is no effective matching of Purchase Orders, Invoices, and Receiving Reports and paying little attention to prior outstanding balances.Prior outstanding balance is a prior unpaid invoice that is summed with the current invoice to add to the current invoice total.Its a way a vendor will notify its customer that another bill was unpaid and the total sum that you currently owe and pending.


Outstanding Balances on Invoice n In entering bills every month,one thing a business owner or bookkeeper should try to avoid is paying a bill twice.After being an auditor for years,bills are often paid in duplicate if there is no effective matching of Purchase Orders, Invoices, and Receiving Reports and paying little attention to prior outstanding balances.Prior outstanding balance is a prior unpaid invoice that is summed with the current invoice to add to the current invoice total.
Here are the tips on how to properly handle Prior Outstanding Balances on invoices.A good bookkeeper should be able to do the following: n 1.Identify that a bill amount included the prior outstanding balance and enter only the invoice total that matches the Purchase Order and Receiving Reports. n 2.Investigate the prior outstanding balances by looking at invoices in dispute or unmailed payment to vendors or simply by calling the vendor to identify if a bill was lost in the mail. n n Whatever happens, never pay prior outstanding balance without investigating them and avoid duplicate payments.

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Priscila Santos is a Certified Public Accountant and a Certified Quickbooks Proadvisor in Philadelphia.To contact Priscila for any accounting question,please visit her proadvisor website at proadvisor.intuit.com/quickbooks-help/priscila-santos-cpa or contact her at 215-667-8839.

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