Category: Expenses
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Track billable expenses and items as income in a single account or in multiple accounts
Adds a “Use for billable expenses” checkbox to an account’s edit screen in the Chart of Accounts.
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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…
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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.
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What does checking Billable box do in QuickBooks Online
The billable feature is available only in QuickBooks Online with Plus plan. When you select “Billable” Expense checkbox field, you must also select a Customer/Project field each split line that is billable. If you don’t select Customer/Project field, you will get an error message. You can’t the save the transaction. (If you’ve Markup percentage turned…
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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…
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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.…
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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…
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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…
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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. Here is the pricing comparison chart: Amazon Local Register Intuit Go Payment
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How to add Billable Hours and Rate to Invoices from Timesheets (Employee or Contractor) in new QuickBooks Online?
You can get there by clicking the Customize button tab at the bottom (middle section) of the Invoice, Estimate, and Sales Receipt. Select “More” > Check boxes to show Billable to include employee name, hours and rate. You can also get there from the Company Gear (upper-corner) > Company Settings under Settings header > Sales…
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How to set it up and enter bank Line of Credit (LOC) transactions in new QuickBooks Online?
To track a line of credit (LOC) extended to your business, create a liability account with an opening balance of zero in your Chart of Accounts. From the Home page screen Go to the Company Gear (right upper corner) Select Chart of Accounts under Settings header Select the blue “New” button (right corner) A new “Account” information screen…
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How do I enter historical expenses (already paid for) for 2013 to get started in new Quickbooks Online?
In order to enter historical expenses, stay with these two specific forms: Click “+” plus icon > select “Expense” under Vendors menu Click “+” plus icon > select “Check” under Vendors menu Expense Form: You can use this form to enter Debit card, ATM Card, EFT, Wire transfer or any banking related withdrawals or charges…
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How do I set up to pay owner? How do I show funds paid to owner in new QuickBooks Online?
Create Owner’s Draw account under Equity type Click Gear Select “Chart of Account” under Settings Select “New” button Category Type = Equity Detail Type = Owner’s Equity Name = Owner’s Draw Save New QuickBooks Online Plus – How to enter various expenses in new QBO? QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit
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What is the different between Expense form and Check form under Vendors heading in new Quickbooks Online?
Check form is to record written manual checks or to enter computer checks to be printed. This entry will reduce bank balance. Expense form is to record all banking withdrawal type transactions except Check. New QuickBooks Online Plus – How to enter various expenses in new QBO? QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales…
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How to make Journal Entry line items billable?
In QBO, there is no way to make Journal Entry billable like in QB desktop version. Instead, you will to enter as vendor expense, check, or bill. Then you can make it billable expense to customer or client.