Categories
Bank Deposit Customers Expense Expenses Invoice Reports

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


 





 

Categories
Customer Job costing Profit and Loss Reports

Can you run Profit and Loss per Customer Invoice in new QuickBooks Online?

t would be really nice if you can get PnL by invoice or Pnl by product item. At this time, new QuickBooks Online Plus can not provide with such financial report. No such reports are available even though certain cost exist data may already in the QBO file.

If you are selling inventory items and costs are fixed (not variable costs), you can create sub-customer per invoice and may be able to get the PnL by Invoice. Again, I am stretching a little bit here since today’s QBO is designed for job cost, product cost or whatever costing method you want to use.

For non-inventory selling business or servie type selling business, no can do in today’s QBO.