QB Issue Resolution:

Thanks for getting back to us.

 

You’ll still have the option to select any category including the Account Payable (A/P) account when recording an expense transaction on a cash basis. Let me share with you a few information about this.

 

What transaction did you create which prompts QuickBooks Online (QBO) not to accept the transaction?

 

In accounting,¬†revenue is only recognized once cash is received. Since you’ll be receiving money with the cash basis method, this is the main reason why Accounts Receivable (A/R) and Account Payables (A/P) aren’t recognized.

 

Whereas in the accrual method, revenues are recognized on the income statement when they are earned (rather than when the cash is received).

 

I also recommend reaching out to our accountant for other ways on how to record the prepayment.

 

I have this link in case you have other questions about QBO: Expenses And Vendors.

 

Reach out to us if you need anything else. I’ll be right here to help.

Resolution for Issue 'Prepayment for vendor with QB on cash basic account . When i pay for vendor, i have not bill and cash basic account have not Prepayment account.' available: Yes (Solved).
Source: Intuit Community forum.

Prepayment for vendor with QB on cash basic account . When i pay for vendor, i have not bill and cash basic account have not Prepayment account.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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