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August_Ashley
August 2, 2022
Question

Receive payment from client in advance and purchase items at wholesale

  • August 2, 2022
  • 1 reply
  • 0 views

I am an interior designer who purchases items for my client's. I purchase these items at wholesale and sell them to my client with a markup. I'd like to know how to organize this within my Quickbooks Online. 

1) I receive payment from my client upfront for the items

2) I purchase the items from my vendor

I have currently made my client's payment as a sales receipt but its showing up as a negative balance. So clearly something its organized properly.

 

Thank you!

 

1 reply

J
JamesM4
August 2, 2022

Hi August_Ashley, 

 

Welcome back to the Community. QuickBooks is a powerful program that helps you manage your work with peace of mind. I'll be glad to share more info so you're on the right track with your work.

 

Making sure you're recording your transactions properly is an essential step for maintaining clean books. To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on this. If you're not in contact with a professional, don't worry, you can search for one using this link here. 

 

I'll also leave this question open in the Community so other accountant users can share their advice. Otherwise, feel free to ask other questions, I've got your back.

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