Category: Vendors
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How to create an Invoice to your Customer for Products Services Items provided by the Vendor
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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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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…
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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 >…
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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 a 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 the Account tab. When the supplier bills you, create a…
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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…
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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…
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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…
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Handling Multiple Vendors Refund Checks Deposit in QBO
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How do I fix unapplied cash payment income and unapplied cash bill payment expense
You may see two accounts for UNAPPLIED cash payments if you report Profit and Loss on a cash basis. It will automatically trigger these two accounts simply because you have entered certain deposit and payment transactions differently than normal flow in QBO. These two accounts are automatically added to the Chart of Accounts when the…
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How does one print a memo line on a check
QuickBooks Online: How to Print a Memo Line on a Bill Payment Check QuickBooks Online: How to Print a Memo Line on a Bill Payment Check #QuickBooks #QuickBooksOnline #QBO #Vendor #Supplier #Bill #PayBills #PrintCheck #BillPaymentCheck When you enter a check (create + sign > check), there is a memo section on the bottom left the…
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What to exclude transactions on 1099-MISC forms when you pay an independent contractor
The basic rule is that you must file a 1099-MISC forms when you pay an independent contractor (sole proprietor type) $600 or more in a year payments you made by cash or check. ( https://www.irs.gov/pub/irs-pdf/i1099msc.pdf ) Beginning with the 2011 tax year, the IRS requires you to exclude from Form 1099-MISC any payments you made…
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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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How to handle when a customer has an overpayment in account balance and goes out of business
Accounting treatment in QuickBooks is exactly the same like when Vendor goes out of business prior to payment for the open balance. If the vendor (or customer with a credit balance) goes out of business due to bankruptcy, keep it until you hear from the courts with instructions as to where to forward your payment.…
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#QuickBooks Online Vendors – How do I enter and print reference information on voucher checks?
In QuickBooks Online, there is no feature set up to print reference numbers (or vendor bill numbers) on voucher checks. The reference number comes directly from entered bill number field. Here is a sample of the Voucher Check printout: Click on the screenshot below to enlarge it Reference column = entered vendor invoice number…
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How do you mark a bill as paid if paid by your parent company (not by your bank account or credit card)
First, you need to get some guidance from the parent company if they go through inter-company elimination process to prepare consolidated balance sheet report. In QBO create Intercompany Accounts Payable Account (not main Accounts Payable A/P) > you can select “Credit Card” Type > it will show as Credit Card group on the Balance Sheet.…
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I have a vendor that I purchase from and who also purchases from me. How do I handle this barter transactions in QB online?
A barter transaction is one in which you buy products and services to a person (vendor) or company from whom you also sell other products and services (customer). Set up the bartering process in QBO: Open your vendor center and add the vendor to your vendor information screen with a “(V)” after the name. From…