Expenses & Suppliers
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I have quickbooks easy start. I have entered entered an expense (supplies). I have returned an item from that receipt. how do i show a return? If i just edit the expense will that mess up rectifying with my bank statement? TIA
How to create an expense with no payment? A vendor sent me an invoice to pay, I want to consider the expense in 2020, but I want to pay in 2021, How can I do that?
Hello,Last month we got an invoice for material which the vendor needed a 50% deposit for. We paid the 50% deposit by credit card. Once the order was ready for pick up (this month) we were to pay the other 50% of the invoice due. The vendor ran our card for the full amount of the invoice by mistake. They issued a credit card refund for the 50% over payment. How do I post the over payment for last month's reconciliation purposes and also record the credit card refund for this months reconciliation? I currently have a negative balance in this vendor's "open balance" due to the over payment just sitting there since I recorded it as a bill payment for the time being.
Our company is in the HVAC service and installation industry (similar accounting needs to construction) using Quickbooks Enterprise Desktop Contractor edition. It meets many of our needs reasonably well, but is lacking in one, which is allowing negative purchase orders for returns. This is a very common requirement in these industries, and all of the more industry specific (and unfortunately significantly more expensive) software will have that feature. We will have 50-100 returns of materials unused on jobs per month, and now we have to create a $0 purchase order that we hold as a flag that we are waiting for the credit invoice, then when the credit comes in we have to manually make the PO inactive and enter the credit invoice manually (instead of having it pull from the PO). This is very cumbersome, and it seems like it would be an easy fix to simply allow negative line items on a PO and allow the credit invoice to pull from it the same way the positive ones d
I have a business owner who used his corporate credit card to purchase something in his own business (the same business as the credit card). Basically it looks like Purchase made by Mark Inc from Mark Inc. How do I classify that? what type of expense is it?
I've looked for answers for this throughout the community. Is there a way to auto-alert myself to upcoming bills due, aging of those bills, etc.? There is a function in QBO to send alert reminders to customers, but not for us to watch for our upcoming bills. When I get a bill, I want to set the alert to 2 weeks before our due date deadline.
I have read almost all the answers to this question on Google but more and more I read about everyone's answer, I am getting more confused. We are in reselling business and we purchase inventories from retails stores, individuals such as FB, Instagram or private online groups. Most of the times, we do not sell the items immediately and carry them as inventory. Sometimes takes a few weeks and sometimes takes a year to resale depends on the items. In this case, should I be entering these items under "item details"? And use category for accounting expenses only such as travel, rent, phone bills...etc? I do not have accounting background so I am still studying the method how it works..
I have a supplier who has an amount owing to them from a Journal Entry in 2017 "to record beginning balance". What is the best way to clear this account?
I have been using inventory tracking but it seems that there are a lot of steps involved in the way I am doing it. Just wondering if there is a faster way of entering and categorizing transactions of inventory purchases. Here's what I'm doing now: 1. Email the receipt to Quickbooks, go into the receipt and categorize as Inventory Asset.2. Go into my banking and match the transaction to the expense.3. Go into Expenses, find the expense previously categorized as Inventory Asset, go into it, open the invoice, and copy all of the inventory items purchased into the Item Details, confirm all is correct and save. I guess my concern is that when I am categorizing the receipts and then matching the transactions, if I am doing a long list of receipts I could easily forget to then go into the Expenses list and find the inventory related ones and then edit them and enter the inventory items. If there was a way of doing this with the receipt transaction it would eliminat
