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January 2, 2024
Question

Where do I add Discounts in our Quickbooks

  • January 2, 2024
  • 1 reply
  • 0 views

I want to add a report of all of my employee meals/ discounts to account for all of the food we give away.  Where is the best place to add this report?  Also, where should I be adding donations/advertisements in my quickbooks off of my sales reports?

 

1 reply

January 2, 2024

Good day, @hgruber812.

I'd gladly help you run reports showing these details in QuickBooks Online (QBO). First, let's create transactions in QuickBooks to track your records and reflect them on the reports. 

Regarding tracking discounts, you can create an invoice and sales receipts, and add this as a percentage or as a line item. Please see this article for complete guidelines: Add a discount to an invoice or sales receipt in QBO.

To view the discount you've given, you can run a quick report of the Discount given account. Let me show you how:
 

  1. Go to the Transactions menu and select Chart of accounts.
  2. Search for the Discount given account.
  3. Click Run report.

 

With regards to tracking donations, we can set up a donation or charitable contributions account and service item in the program. Then, issue a credit memo, use the item you've created, and link it to your invoices. For complete steps, please review this article: How to record donations or charitable contributions in QBO.

Once done, you can run a sales report such as the Sales by Product/Service Summary report to review the donation item that you've created. Simply go to the Reports menu and run the Sales by Product/Service Summary report.

In addition, you can customize reports to focus on the details that matter the most to your business.

Moreover, you can reach out to your accountant for further advice in tracking these details in QuickBooks. This way, we can ensure that your books are accurate.

Please let me know if you have additional questions about viewing discounts and donations in your reports in QuickBooks. I'm always here to assist you.