Accounts Payable on Mac

RBC1

An Accounts Payable feature needs to be available in Quicken Classic Home and Business as soon as possible. It’s entirely necessary for most small businesses.

jacobs

@RBC1 Could you elaborate a bit more on this. I'm familiar with Accounts Payable for business accounting, but it only applies to businesses run on an accrual basis; businesses on a cash basis do not have accounts payable.

Quicken's implementation of Business & Personal muddies the waters by working mostly on a cash basis, but allowing reports to be generated on a cash or accrual basis. I have argued, unsuccessfully, that when you define a business in Quicken Mac, you should designate the business accounting basis there as cash or accrual, and have that designation flow through to all reporting. I think the developers are targeting mostly small, personal businesses, most of which likely use cash basis.

So coming back to Accounts Payable, are you asking for this because you run a business on an accrual basis?

As you know, Quicken doesn't offer double-entry accounting, and this is particularly felt when it comes to accounts payable. In a true business accounting system, an invoice received would be entered using the date on the invoice, which increases the Accounts Payable liability; when the invoice is paid, it reduces the Accounts payable liability. But in Quicken, these aren't two separate transactions; you record an expense in a register as of a certain date, and Quicken doesn't have a place to record two separate dates for the invoice date and the payment date. So how do you believe Quicken May should track and show Accounts Payable?

My understanding is that Quicken Windows (which I haven't ever used) has a separate feature for entering Vendors and entering Bills. That allows tracking Accounts Payable, because a bill can be entered on one date and paid on another. Is that the functionality you're seeking ion Quicken Mac?

(Please know I'm not disagreeing or criticizing the request; I'm just trying to clarify what specific capabilities you're looking to see in Quicken Mac Business & Personal.)