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So I've come across from Xero that I started using 6 years ago. Lots to improve on but one thing they got 100% bang on was settling invoices in foreign currencies - it was super easy and you do the matching and reconciliation in one step. The neat thing I loved about Xero's handling of this is that they retained a "Resolve Difference" button that allowed you to quickly work out how much bank and exchange fees were paid in relation to a payment in a foreign currency to a foreign currency invoice, add the fee on the same page as the incoming payment based on a user-selected exchange rate and instantly work out whether the amounts reconciled with the bank statement, all in one step. Quickbooks makes us do multiple steps with the use of a calculator and separate excel sheet to work out the fee calculations and a dummy account to actually pull off this whole mess. Quickbooks does 3 things wrong in their implementation: 1. The auto-calculation of the exchange rate forces
We buy in cartons and sell in pieces or boxes. So how we can mentioned in invoices that item is in carton we are selling or pieces.
We often get questions from our Australian customers about whether to cancel or delete invoices in QuickBooks. So, I thought it might be helpful to talk about the differences and what they mean for your records. Voiding an invoice When you void an invoice, you're essentially cancelling it, but it still keeps a record in your system. The invoice amount changes to zero, which means it remains in your reports. This action will affect your accounts receivable and balance sheet, but the advantage is that you retain a history of the transaction. It’s a good option if you want to stop a payment process while still keeping track of what happened. Deleting an invoice On the other hand, deleting an invoice means you’re erasing it from your records entirely. While this might seem straightforward, it can complicate your financial tracking and may impact things like inventory/ stock. Be cautious with this approach, as it completely removes the invoice and could leave you without impor
I require the custom reporting of P&L which can be done in Xero
Hi team, I am on the basic QBO plan, I want to give a CR for some jars a stockist has purchased, which we will issue as free samples, they have paid the invoice so can't amend it so need a CR. Apparently CR's are not allowed on the base plan - a bit odd as they are a basic function in a business and to upgrade doubles my costing for something I don't use very often! Wondered if there was a work around? Thanks
It seems I still have to manually go and match the transfer in the receiving account.
Remove bank details from invoice
Hi, I've imported a new custom template and would like to set this as my default but I'm not sure how.
I need to remove an amount from an invoice from the previous bas period which will reduce the amount to be paid
customer can place online order easy for them
I have contracted a Debt Collector to pursue a debt. As a result, the debt was recovered and the debt amount, less the professional fees, has been deposited into my account. I have also received a Bill from the Debt Collector for their Professional Fees, which I have entered into quickbooks.For example, the Invoice (debt) amount is $1000, and the bill for the professional fees are $300, so $700 was deposited into my account. How do I match both the Invoice and the Bill with the bank transaction?
sorry, how to undo receive payment. Or change the Status of an invoice to "Due in xx" instead of "Deposited"
