Convert credit card payment to bill payment in Quickbooks

This problem bugged me for a while. I had an old credit card transaction that I only discovered months after the fact that it was not supposed to be entered as a credit card payment. The credit card statements for that month and many months after were already reconciled. There was a bill that was created in Quickbooks that was fully received but never paid. As a result, the vendor was showing a negative balance. On the other hand, the credit card was reconciled without any problems, because the payment was entered as an expense on an expense account (as opposed to a bill payment).

After trying to re-enter the payment as bill payment and deleting the original transaction, I realized that this would make the credit card account to un-reconcile. That means creating a tedious extra work for months worth of reconciliation, in order to get everything in the right spot.

After some thinking and trial and error (always work after good backup when experimenting), I think I came up with, in my opinion, most elegant solution that will not affect inventory, balance sheet (as inventory is ultimately depleted and deducted as COGS).

1. First, in Quickbooks main menu select Vendor > Vendor center and search for the vendor, and the credit card transaction in question under the Vendor information. Double-click the transaction to open it. This should open a “Credit Card Purchase/Charge” window.

2. In the Expenses tab, under ACCOUNT change the Account to Accounts Payable, and under CUSTOMER:JOB, type the vendor name/code. Click Save & Close. This should change the Vendor balance to 0.00 in the Vendor Center. What happened is that, you now have a credit with the vendor that is sitting in your Accounts Payable account, but you no longer owe the vendor, according to Quickbooks.

3. From the main menu, select Vendor > Pay Bills and tick the box for the unpaid bill. Look at the section below the bills, in the “Discount & Credit Information For Highlighted Bill” and you should have Total Credits Available that includes the billed amount. This amount may differ, as it may show other credits with the vendor, but assuming no other credits, the same amount should appear.

4. Click, Set Credits and a Discounts & Credits window will pop-up. Tick the credit you want to apply in the list, take a note of the payment date (this is important for step 6), and click Done.

5. Back to Pay Bills window, you should now see the Credits Used filled out with your credit, and Amt. To Pay will show 0.00 (This means no double transaction in credit card account to deal with!).

6. We are not quite done yet. That Bill Payment we created, still crammed a useless 0.00 payment in your Credit Card account, even though we used credit to apply to the bill (it’s Quickbook after all, keeping us on our toes). This should not harm anything but I personally don’t like rogue entries in my account transactions, so simply go to the transaction in your credit card account detail window and delete it.

Done! No more unpaid bill, vendor balance is 0.00.

I hope this helped to regain your sanity and if you have any questions, comments, or if you have a better way of dealing with converting a credit card payment to bill payment in Quickbooks, please go ahead and comment – I would love to hear about it!

Disclaimer: Please always consult your accountant before following any of my suggestions. I am not an accounting professional and I only share tips that worked for me. I disclaim any and all responsibility for any errors or losses you may incur by following any of my articles or suggestions. Proceed at your own risk.


How to override and re-enable form auto-complete that has been disabled on a webpage

One of the most annoying problems I encounter when filling out online forms is when a website owner has disabled the autocomplete feature of your browser, by programmatically locking down form fields.
One example where I need to use auto-complete, is when filling out those Kroger surveys that gives you extra 50 fuel loyalty points every 7 days. There are legitimate reasons why website developers would want to disable auto-complete but in my opinion, online surveys are not one.

To save myself from redundant typing every week, I decided to write a bookmarklet that can be used in Chrome to quickly re-enable most auto-complete fields that have been disabled. I have been using this for over a year now without problems and decided to share here.

Drag and drop the button below into your Chrome bookmark bar:
Enable auto-complete form

To use the bookmarklet,  simply drag and drop the blue button above to your Chrome bookmark bar.
Next time you are on a webpage with disabled auto-complete, simply click the bookmarklet and this should enable the form fields for auto complete.

One very important point: Never auto-complete forms on a website you don’t trust. Auto complete phishing is a known way for malicious webpage owners to obtain your sensitive data via hidden fields without you realizing. In addition, please consider that some websites may have a legitimate reason to disable auto-complete so you should always use auto-complete feature with caution, and always at your own risk.

Feel free to post suggestions or comments. If this is not working for you with a webpage you are trying to use. When I find the time I’ll try to revise the code to make it work for you.

Samsung 4TB SSD drive is a monster of a storage

Samsung has just announced the launch of Samsung 850 EVO – 4TB – 2.5-Inch SATA III Internal SSD drive that will start shipping on July 31st.

It was only a couple of years ago that the conventional HDD 4TB drives were almost pushed to the limit to accommodate the large storage. There has always been reliability issues as well with spinning drives, not to mention noise and heat. I personally had several 1TB and up drives fail both at places I worked and home.

In contrast, my SSD drives (albeit smaller in capacity), have proven to be reliable and I am yet to have one fail.

Speed of the SSD drives is amazing – it can really revitalize your personal computer, whether it is a laptop or a PC. ¬†However up until now, SSD drives were primarily used as OS drives with installed applications on it to speed up the overall performance while keeping the storage requirements low, since OS and programs don’t take as much space as data. The data on the other hand has been delegated to those noisy and large capacity HDD drives. With the new SSD drives becoming almost similar to size of the HDDs, it is a promising development and hopefully bring the current hefty price of $1500 to the price point of a home user as the adoption, volumes, and competition ramps-up.