Quickbooks Online Advanced question:

Michael's Yoga Studio have been entering bills for their purchases as they come in. They pay multiple bills once a week. They use Bank Feeds to record these transactions, posting to Cost of Goods Sold. They are an accrual-based company.

What is best practice to remedy this with a minimum amount of work?

• Create journal entry for each vendor
• Create vendor credits for each open bill
• Create one journal entry, with lines for each vendor
• Use the Batch Delete tool, and delete all the open bills