Categories
Customers Invoice Products & Services Purchase Order QuickBooks Online QBO Vendor Vendors

How to create an Invoice to your Customer for Products Services Items provided by the Vendor

Make products service items provided by vendor billable to customer
Categories
Customers Expense Expenses Invoice QuickBooks Online QBO Vendor Vendors

How to add Billable Expenses to an existing already created Invoice

Open an existing invoice. Look for an arrow pointing left at the top right corner (right to BALANCE DUE). Click that arrow You will find the Billable Expense sitting there and click Add. You will notice line item from the existing invoice and added a billable expense line item. Delete line item from an existing invoice. Now, you have linked billable expenses to an invoice and the total invoice amount remain the same.

Link Billable expenses to an existing invoice
Categories
Expense Expenses Purchase Order Vendor Vendors

What is ‘Copy to Bill’ at the right side under the Expenses tab

If you have created a Vendor Purchase Order, you will see “Copy to bill” on the right side. You can convert the PO to a Vendor Bill. If you’ve already created Bill (Check or Expense) for that PO, you can choose “Add to” from the right panel, then it will close the PO.

Categories
Bank Register Credit Card Vendor Vendors

How to manually add few missing credit card transactions that were not in bank feed

How to manually add few missing credit card transactions that were not in bank feed

For missing bank feed credit card transactions, you should be able to manually enter bank transactions directly to the Credit Card Register in QuickBooks.

Here is how to manually enter my credit card transactions without downloading from the Bank.

From the Left Dashboard | Accounting |Chart of Accounts

Select the Credit Card account in question.

Click “View Register” under Action column.

(You’re now on Bank Register).

Select “Add CC Expense” from the drop-down arrow (right below Date column).

Enter transaction information and save.

It will automatically update the running balance.

Categories
1099 Vendor Vendors

How do you set up multiple accounts for 1099 MISC Box 7 in Quickbooks Online

You can select “Multiple accounts” to report in Box 7 on the 1099Misc. You should see that option with the Prepare 1099s under Accounts #2 tab (see screenshot).
(From the left dashboard > Expenses > Vendors > Click Prepare 1099s at the top right right corner > Continue your 1099s > Go to #2 Accounts > Under Box 7, select Multiple accounts from the Chart of Accounts).

You can also refer to this article for more information:
https://community.intuit.com/articles/1634851/

 

Categories
Vendor Vendors

How to enter prepayment to the vendor supplier. How do I match vendor bill received later?

You have two ways of recording the transactions depending on the type of supplier pre-payment. Is it quick turn around or will it take a longer time to complete the job or service?

1) When you make vendor pre-payment, use Accounts Payable (A/P) under Account tab. When supplier bills you, create a Vendor Bill in QBO and use an appropriate account. That will clear the vendor pre-payment balance. This is the easy way to enter the transactions especially say if you can record both entries within less than a month. You will then need to match pre-payment and entered Bill to clear the account by clicking Pay Bills tab (Create + sign > Vendors > Pay Bills).

 
PREPAYMENT

 
ENTER BILL

 
MATCH PREPAYMENT AND BILL

 
2) You may use this method if pre-payment to the supplier will take longer than 30 days to clear. In order words, for example, you make pre-payment job in January and the job will not be complete until June.

To set up pre-payment to the supplier, create a new account. You would set up “Pre-Payment to Supplier” as other current assets in QBO
 
SETUP PREPAYMENT SUPPLIER ACCOUNT

 
When you receive a Bill, enter expense account to be charged. On next line, select Pre-Payment to Supplier account and enter it as a negative amount. If the received bill is exactly the same as pre-payment then, it will net out as zero entry. But if the actual bill says higher than pre-payment amount then, you just make the payment for the difference. That will clear the account.
 
ENTER BILL AND CLEAR PREPAYMENT ACCOUNT

 
SUPPLIER ACCOUNT

 
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Categories
1099 Reports Vendors

Prepare and file 1099s in QuickBooks Online Plus Subscription

Prepare and file 1099s in QuickBooks Online Plus Subscription
QuickBooks Help for filing 2016 1099-MISC forms.
From the article:
We’ve created this guide to help you prepare, distribute, and file 1099-MISC forms for your vendors.

  • See 1099 checklists and deadlines
  • Prepare and file 1099s in QuickBooks

Thank you for your business in 2016. Here’s to a successful new year in 2017! ….


 

FREQUENTLY ASKED QUESTIONS
Question: How to run 1099 Vendor Summary Report in QBO Plus?

Answer: Unfortunately, there is no such built-in report yet available in any QBO plus.
The workaround is to run Vendor Transaction Details Report and filter select vendors (who you think should get 1099s) from the report but that many not determine who should actually get a 1099-MISC based on such transactions.

Refer to these articles and also consult your Accountant.


 







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Categories
Customers Vendors

Can I change the default A/R or A/P account in QuickBooks Online

Can I change the default A/R or A/P account in QuickBooks Online
QuickBooks Help
QuickBooks Online (QBO) is not designed to work with multiple Accounts Receivable (AR) and Accounts Payable (AP) accounts. The initial AR and AP accounts, or those selected during conversion, will be the default accounts. We encourage our customers to merge their accounts payable and receivable accounts. For more information on merging accounts, please see Merging accounts, vendors, or customers. If division of open payables and receivables are needed use one of the following options…

 

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Categories
Vendor Vendors

How to merge vendors suppliers with transactions

You can merge vendors, QuickBooks deletes one vendor and reassigns all its data to another vendor.

IMPORTANT: YOU CANNOT REVERSE A MERGE AFTER THAT.

  • In the left navigation bar, click Vendors.
  • Select the vendor whose name you don’t want to use.
  • Click Edit.
  • Change the vendor’s Display Name so that it is the same as the vendor you’re merging with.
  • Click Save.
  • Click Yes to confirm that you want to merge the two vendors.

mergevendor1

mergevendor2

mergevendor3

mergevendor4

mergevendor5






Categories
Bank Deposit Banking Vendor Vendor Credit Vendors

Handling Multiple Vendors Refund Checks Deposit in QBO