Is it possible to apply vendor payments that are unapplied to a bill?

Yes, you can add unapplied vendor payments to a bill that were entered at a later date, Erik. I'll gladly walk you through the process.

To help you link payments made through checks to your bills, you can modify the account used to Accounts Payable. To do this:

1. Open the check entry in QBO.
2. Change the Expense account to Accounts Payable.
3. From the Customer: Job dropdown, select the vendor name.
4. Then, select Save & Close.
5. Once done, go to the + New icon and choose Pay Bills.
6. Select the bill connected to the check. Make sure the amounts are correct. Then, click Save.

Moreover, you can run detailed reports to help you review your overall business finances.

I'll leave this thread available so you can always reply below for any additional queries when managing vendor transactions in your account. Stay safe and have a good one!