Using Your Bill Pay System With Aspire

  • Updated on Nov 27, 2025
  • Published on Oct 9, 2025
  • 5 minute(s) read
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Purpose

In this article, we discuss options for you to build out a process for Bill Pay Systems. To allocate costs to a job or inventory, you would process a Purchase Receipt in Aspire. 

Note
When you receive and approve the receipt, it will transfer over into your accounting system as a Bill to Pay.

Accounting for Purchase Receipts in Aspire

Transaction recorded in your accounting system

Debit — Inventory Holding Accounts

Credit — AP: Vendor you purchased from

EOM journal entry to record COGS or Expense

Debit — Cost of Goods Sold (COGS)/Expense by Division in Aspire (Class in QuickBooks)

Credit — Inventory Holding Accounts

  • If you are Simplified SAS and are expensing items as they are purchased and are not managing Inventory on your Balance Sheet, the balance in the Inventory Holding Accounts at the end of the month will be zero after the Journal Entry.
  • If you’re Standard SAAS and are expensing items as they are used on a job or adding to Inventory and manage Inventory on your Balance Sheet, the balance remaining in the Inventory Holding Accounts at the end of the month, after the Journal Entry, will be your Physical Inventory.

Note

These examples are only suggestions for GL account numbers. These suggestions only apply to direct expenses that run through Aspire for job costing. Continue your normal process for your Indirect Expenses.

There are 4 options to process a receipt.

  1. Using the invoice from your bill pay system and not from Aspire.
  2. Using the invoice from Aspire and not your bill pay system.
  3. Using the invoice from Aspire and deleting from your bill pay system.
  4. Using the invoice from your bill pay system and not from Aspire.


Option 1: Using the invoice from your Bill Pay system and not from Aspire  

Create 2 sets of Inventory Holding Accounts and 2 Accounts Payable Accounts.

Aspire

  • Inventory Holding – Aspire GL Accounts #1501 – 1504
  • AP Account – Aspire GL Account #2000

Your Bill Pay system

  • Inventory Holding – Bill Pay GL Accounts #1601 – 1604
  • AP Account – Bill Pay GL Account #2010

For Aspire Purchase Receipts

Purchase Receipts are received and approved in Aspire. When they come into your accounting system they are recorded as:
  • Credit Accounts Payable – Aspire – GL Acct #2000
  • Debit Inventory Holding – Aspire GL Acct #1500
    • Inventory Holding Material – GL Acct #1501
    • Inventory Holding Equipment – GL Acct #1502
    • Inventory Holding Sub – GL Acct #1503
    • Inventory Holding Other – GL Acct #1504
  • Reconcile Purchase Receipts Task #3 from EOM Checklist

From Bill Pay, code receipts to:

  • Credit Accounts Payable – Bill Pay GL Acct #2010
  • Debit Inventory Holding Accounts – Bill Pay GL Acct #1600 
    • Inventory Holding Material – GL Acct #1601
    • Inventory Holding Material – GL Acct #1601
    • Inventory Holding Equipment – GL Acct #1602
    • Inventory Holding Sub – GL Acct #1603
    • Inventory Holding Other – GL Acct #1604
  • Task #3 – Review New Purchase Receipt List from EOM Checklist

For Aspire Purchase Receipts

After you reconcile Purchase Receipts in Aspire and your Bill Pay system:

  • Delete activity in Accounts Payable – Aspire GL Acct #2000.
  • The Aspire Inventory Holding – Aspire GL Acct #’s 1501 – 1504 and Accounts Payable Aspire – Aspire GL – Acct #2000 will be zero.

Tip

You can delete activity weekly.

EOM journal entry

This final EOM entry records the COGS and moves the inventory cost from the Bill Pay holding accounts to the COGS/Expense accounts:

  • Debit – COGS Accounts by Division
  • Credit – Inventory Holding – Bill Pay GL Acct #’s 1601 – 1604 

Option 2: Using the invoice from Aspire and not your Bill Pay system 

Create 2 sets of Inventory Holding Accounts and 2 sets of Accounts Payable Accounts.

Aspire

  • Inventory holding –Aspire GL Accounts #1501 – 1504

  • AP Account – Aspire GL Account #2000

Bill Pay

  • Inventory Holding – Bill Pay GL Accounts #1601 – 1604
  • AP Account – Bill Pay GL Account #2010

For Aspire Purchase Receipts

Purchase Receipts are received and approved in Aspire. When they come into your accounting system they are recorded as:

  • Credit Accounts Payable – Aspire – GL Acct #2000
  • Debit Inventory Holding – Aspire GL Acct #1500
    • Inventory Holding Material – GL Acct #1501
    • Inventory Holding Equipment – GL Acct #1502
    • Inventory Holding Sub – GL Acct #1503
    • Inventory Holding Other – GL Acct #1504
  • Reconcile Purchase Receipts Task #3 from EOM Checklist.

From Bill Pay, code receipts to:

  • Debit Inventory Holding – Bill Pay GL Acct #1601 – 1604

  • Credit Accounts Payable – Aspire GL Acct #2010 

Reconcile the transactions

  1. Reconcile the Accounting System/Bill Pay for the week/month with Aspire Purchase Receipt List #3 from the EOM Checklist.
  2. Delete transactions from Inventory Holding – Bill Pay GL Acct#1601 – 1604 as they show in Aspire.
  3. The Aspire Inventory Holding – Bill Pay GL Acct #1601 – 1604 and Accounts Payable – Bill Pay GL Acct #2010 will be zero.

EOM journal entry

This final EOM entry records the COGS and moves the inventory cost from the Bill Pay Aspire holding accounts to the COGS/Expense accounts.

  • Debit COGS Accounts by Division

  • Credit Inventory Holding – AspireGL Accounts #1501 – 1504

Option 3: Using the invoice from Aspire and deleting from your Bill Pay system

With this option, you need to process invoices in Aspire and delete them from your Bill Pay system.

For Aspire Purchase Receipts 

Purchase Receipts are received and approved in Aspire. When they come into your accounting system, they are recorded as:

  • Credit Accounts Payable - Aspire – GL Acct #2000
  • Debit Inventory Holding - Aspire – GL Acct #1500 
    • Inventory Holding Material – GL Acct #1501
    • Inventory Holding Equipment – GL Acct #1502
    • Inventory Holding Sub – GL Acct #1503
    • Inventory Holding Other – GL Acct #1504
  • Reconcile Purchase Receipts from Task #3 from EOM Checklist.

EOM journal entry

This final EOM entry records the COGS and moves the inventory cost from the Bill Pay Aspire holding accounts to the COGS/Expense accounts:

  • Debit COGS Accounts by Division 
  • Credit Inventory Holding – Aspire GL Accounts #1501 – 1504

Option 4: Using the invoice from your Bill Pay system and not from Aspire 

For Aspire Purchase Receipts

Create 2 sets of Inventory Holding Accounts and 2 Accounts Payable Accounts.

Aspire

  • Inventory Holding – Aspire GL Accounts #1501 – 1504

  • AP Account – Aspire GL Account #2000

Bill Pay
  • Inventory Holding - Bill Pay GL Accounts #1601 – 1604

  • AP Account – Bill Pay GL Account #2010

Purchase Receipts are received and approved in Aspire. When they come into your accounting system they are recorded as:

  • Credit Accounts Payable - Aspire – GL Acct #2000
  • Debit Inventory Holding - Aspire – GL Acct #1500
    • Inventory Holding Material – GL Acct #1501 
    • Inventory Holding Equipment – GL Acct #1502 
    • Inventory Holding Sub – GL Acct #1503 
    • Inventory Holding Other – GL Acct #1504 
  • Reconcile Purchase Receipts from Task #3 from EOM Checklist

For Bill Pay, code:

  • Debit – Inventory Holding – Bill Pay GL Accts # 1601 - 1604
  • Credit – Accounts Payable – Bill Pay GL Acct #2010

At the end of the month, record a manual journal entry

  1. Record a journal entry and Use Purchase Receipt List #3 to see the dollar amount.
    • Credit – Inventory Holding – Aspire GL Acct #’s 1500 - 1504
    • Debit Accounts Payable – Aspire GL ACCT # 2000
  2. At the end of the month, in your Accounts Payable – Aspire GL Acct #2000 and Inventory Holding Accts – Aspire GL Acct #’s 1500 – 1504 should be zero. 

EOM journal entry

This final EOM entry records the COGS and moves the inventory cost from the Bill Pay holding accounts to the COGS/Expense accounts:

  • Debit COGS Accounts by Division

  • Credit Inventory Holding – Bill Pay GL Acct #’s 1601 – 1604