How to Add an Accounts Payable Account in Quicken Home & Business 2008

You must know how to add accounts payable accounts for your companies’ financial transactions. Quicken Home & Business makes this an easy task. Once you create accounts payable accounts, you will instantly know where the companies’ money is being spent. You can track each transaction and always know your businesses outstanding balance. It will take under ten minutes to create each accounts payable account.

Instructions

1. Access your business account in Quicken Home & Business. Pick “Go to Business Center” that is located in the “Business” menu. Your business snapshot page should open. You can keep an eye on your companies finances here.

2. Click the “Add Account” button located in the Business Accounts section. Put a mark by “Bills/Payables – Business Bills” and then click on “Next.”

3. Track all of your business bills in one accounts payable account. The name on the account is “Business Bills,” which you can use to keep all of your payments in one location. You can change the name, if needed and then click on “Next.” To complete the setup, click on “Done.”

4. Add separate accounts for each bill. You can set up accounts payable accounts for each bill paid to have a better idea of your finances. This will provide an instant picture of all of the money being paid out. You will have to give each bill an individual account. Follow the instructions given in Step 3 to accomplish this for every bill.

5. Check over your accounts payable accounts. You can verify the new accounts in your Business Accounts snapshot page. All of your accounts payable accounts can be viewed below “My Data” - “Business Accounts” - “A/P Accounts (Bills).” All outstanding bills for any account will be shown on the top under “Accounts Payable (Business Bills).” You can further access them from your “Net Worth” section on the left that lists all of your company accounts under “Business.” Select any of the accounts by clicking on them, to open it.

Tips & Warnings

• If you need to change something when you are filling out the accounts payable account information, click on the “Back” button. The “Cancel” button can be used to clear all responses.

• Select the question mark (help) icon to find out additional information about the particular step you are on. You can also access help from the taskbar at any time.