Typically when a new business starts up, vendors require payment in advance for items ordered. When using QuickBooks POS with QuickBooks Financial software, there is a relatively easy way to track this. When posting your check or charge in QuickBooks Financial, enter accounts payable in the account field and the vendor you placed the order with in the customer job field. Then receive your inventory on a receiving voucher as normal (you are using receiving vouchers right?) When you go to QBF, click on pay bills. Find the bill and check it. Then click on the set credit button and apply the credit. We don't recommend checking the already paid for box in POS, because that creates an item receipt that needs to be turned into a bill before processing. Another good reason for doing this is if the vendor charged you more than you received, you will see that and can call for an explaination.
