Manage customers and Income
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Our company a property developer. Our costs come from consulting fee, construction fee, acquisitions and so on. I've allocated all the costs to a Construction WIP account (in BS). Now we have finished our development and got a lot of finished houses. We want to do inventory management. So the cost should be reallocated to P&L accordingly. If a client enters into a contract, we should invoice to him and the inventory amount should decrease, but we won't receive money (because all the deposits should be hold in trust account). And we will receive money when settlement, but inventory amount should remain the same and we won't invoice to him. It will be very easy if I solve problems by journals. But we want to use inventory management.Cant's seem to find anything that tells me how to do this.
Hi there, hoping someone can help me with this - my Ltd company owns a half share of a Partnership, when my company receives a profit distribution from the partnership what account do I book it to in Quickbooks. The partnership is registered for tax so I'm guessing that the profit to my company won't be taxed again and so I shouldnt book that profit distribution as an income, but I'm not sure what else it would be booked as many thanks J x
I don't know what change needs to be saved. Prior adjustments add to zero, and have never had this issue before.
