Why mark it billable to a customer and select “track returns for customers” box on a bank deposit

This has to do with reflecting accurate direct expenses related to customers on Income by Customer Report.

If you are depositing a vendor/supplier refund for an expense that was previously Billed to a customer, select “Track returns for customers” box and choose that same customer on the deposit and mark it Billable.

For example, if you buy a material for a customer’s job, you would bill the expense to the customer. But if the customer later returns the material to you and you return it to the vendor/supplier for a refund that you are depositing, you need to mark the deposit billable to that same customer and also select “Track returns for customers” box. Otherwise, it will show as customer billed for the material expense, and the vendor credit will not appear on Income by Customer Summary Report.


 





 
Here is an example of what happens when $1,000 billable purchase returned to the supplier for a refund and deposited that money in the bank. The goal is to show zero expense related to that customer.

SHOWING RESULT WITHOUT BILLABLE AND RETURNS FROM CUSTOMERS

deposit without billable-and track returns for customers
deposit without billable-and track returns for customers
income by customer summary without billable track returns from customers
income by customer summary without billable track returns from customers

SHOWING RESULT WITH BILLABLE AND RETURNS FROM CUSTOMERS

deposit with billable and track returns for customers
deposit with billable and track returns for customers
income by customer summary with billable track returns from customers
income by customer summary with billable track returns from customers

 
WATCH VIDEO
QuickBooks Online Plus: Track returns for customers box on Deposit Form


 





 

Owner paid a subcontractor with his own money. How to make sure Vendor shows up on 1099 and still able to write the reimburse check to the Company Owner

First, you will need to create a new dummy bank account. You will also need a due to the owner as a liability type account to use it for later reimbursement.

Step#1 Use bank deposit form (create + sign > other > bank deposit) to record contributed amount by the owner to pay a contractor. Account to show as due to the owner liability type account. See screenshot below.

owner deposit
owner deposit

Step#2 Use Expense form (create + sign > vendor > expense) to create contractor expense posted to appropriate expense account. See screenshot below.

contractor expense
contractor expense

Step#3 Use Check form (create + sign > vendor > check) to write the reimburse check to the Company Owner. See screenshot below.

check to owner
check to owner

In case there is no need to reimburse the owner (step#1), you will use a capital contributed account which would be an Owner’s Equity type account.

Review of 1099 vendors and payments list. See screenshot below.

review 1099 vendors payments
review 1099 vendors payments

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2015 Laser 1099-MISC Income, Federal Copy A, Bulk

2015 Laser 1099-MISC Income, Federal Copy A, Bulk


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QBO: How do I make employee payroll reimbursement for expenses they incurred on behalf of the company

To set up a single reimbursement pay type for an employee:

  • Click on the Employees tab
  • Click the name of the employee
  • Click on the pencil icon beside Pay
  • Click Additional pay types
  • Click the arrow Even more ways to pay
  • Check the box for Reimbursement
  • Click Done

This is useful if you separately track reimbursements for different expense types (such as travel and supplies). Amounts paid as reimbursements are not subject to any taxes, and are not included on any forms.

Click on the screenshots below to enlarge them
1additional pay types

2even more ways to pay

3reimbursement

Weekly Price Check US CA UK AU (Plus Plan)

USACanadaUKAustralia
us120x90ca120x90uk120x90au120x90
USD 23.97 per monthCAD 14.50 per monthGBP 15.00 per monthAUD 21.00 per month
USD 23.97 per monthUSD 12.01 per month
(Conversion)
USD 23.30 per month
(Conversion)
USD 16.60 per month
(Conversion)
LOWEST PRICE!

How to import credit card transactions from Excel CSV (.csv) file into QuickBooks Online?

The short video (below) will show you step-by-step instructions on how to import credit card transactions from Excel CSV file into QBO so that you will not import transactions the wrong way.

Confusion has to do with bank account field and Quickbooks field screen. It is the same field name for bank download as well credit card download. Users are importing a CSV file from credit card company and every transaction ended up being the opposite of what it should be…. expenses listed as credits (spent), credits listed as expenses (received).

Once you have downloaded transactions, there is no way to UNDO or delete downloaded transactions. You will have to move to “EXCLUDED” column and it will stay there forever which is not good.

So, I highly encourage you to watch the entire video. You do not want to miss a step.

import cc csv 1

import cc csv 2

import cc csv 3JPG

import cc csv 4

import cc csv 5

import cc csv 6

import cc csv 7

import cc csv 8.1

import cc csv 8.2

import cc csv 9

What do I call making a credit card payment with checking account? Expense Type? Transfer Type?

To transfer fund from bank checking account to credit card account as payment:

  • From the home page screen > Create + sign > Other > Transfer
  • Transfer Funds FROM = Bank Checking Account
  • Transfer Funds TO = Credit Card Account

To enter credit card expenses:

  • From the home page screen > Create + sign > Vendors > Expense
  • Choose a payee
  • Select “Credit Card account” from drop-down list (Importante)

Transfer

Expense 3456

What happened to the “Items” tab when I enter bills?

show items table on expense and purchase forms on 2
show items table on expense and purchase forms on 2

If you see “Bill” form with account only and there is no  “Item Details tab” separately,  it usually means “Show Items table on expense” setting is turned off.

In order enable Show Items table on expense and purchase forms:

From the home page screen

  • Select the Company Gear (upper right corner)
  • Select Settings
  • Select Company Settings
  • Select Expenses
  • Select Bills and Expenses
  • Select Show Items table on expense and purchase forms
  • Check box to enable setting ON
  • Save
show items table on expense and purchase forms on 2
show items table on expense and purchase forms on 2

Compare merchant credit card processing fees

It is time to compare merchant credit card processing fees again.

Announcement today of Amazon’s new “Local Register” payment system, will that have price effect on other merchant processors.

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How to change transaction numbers on sales forms (Invoices, Sales Receipts)
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How to add a logo to sales invoices
Statement of Cash Flow
Can billable expenses be billed in two partial invoices
How to create a report of voided checks
How to show account summary balance due on new invoices
How to change the account associated with product and service item
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QuickBooks Online - Brief side by side navigation guide from old QBO classic to new QBO harmony
New QuickBooks Online (QBO) - Step by step guide to use CLASS tracking in new QuickBooks Online
How to add a second company in new QuickBooks Online
QuickBooks Online: How do you delete (or deactivate) an account on the Chart of Accounts (COA)
New QuickBooks Online (QBO) - Print Checks
Where do you sign out or log out in new QuickBooks Online
How to bookmark QuickBooks pages in new QuickBooks Online
QuickBooks Online: Enter one bank deposit & match to several different invoices
Payroll - print a specific employee paycheck in new QuickBooks Online
QuickBooks Online Tutorial - how to enter credit card in the new QuickBooks Online (QBO)
Track Classes - Make an Inactive previously deleted class Active in new QuickBooks Online. pt 3 of 4
Track Classes - Run Profit and Loss by Class Report in new QuickBooks Online, pt 4 of 4
QuickBooks Online: How do I customize my Invoice. Where is my Customize Data Layout
NewQBO.com Video: How to Record Fees from PayPal and Square in new QuickBooks Online (QBO)
QuickBooks Online - As a sole proprietor, how do I set up to pay owner in new QBO
New QuickBooks Online (QBO) -- Tips & Tricks on Navigating QuickBooks Online - Top Learning Video
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QuickBooks Online: Link problems, popups issues with Google Chrome browser
Balance Sheet -- Quick and Easy Way to Learn Tutorial Video for Non-Accountants
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QuickBooks Online: How to run Sales Report by Sales Rep to calculate Commissions in new QBO?
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How to run previous months bank reconciliation reports in new QuickBooks Online
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QuickBooks Online Plus and Essentials: New Look of 2014 QuickBooks Online - Quick Learning Tour
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QuickBooks Online (QBO) Tutorial - Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit
Closing the books feature in new QuickBooks Online
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NewQBO.com: How to do bank reconciliation in new QuickBooks Online
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How to enter various expenses in QuickBooks Online Plus? The best tutorial video!!!
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Here is the pricing comparison chart:
merchant credit card processing fees
merchant credit card processing fees

Amazon Local Register

Intuit Go Payment