Manage Suppliers and Expenses
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I have not been able to find a direct answer for this question and not sure if Quickbooks can be used to this expectation. We are currently buying various products from various suppliers with unique part numbers and reselling them with another unique part number reference. For example:I need to buy a pump from our supplier pump#4251-5 and we sell the same pump to our customer as part# 36521480. How do we receive the product as one item and have quickbooks link the inventory to the part number we sell it as. I hope I didn't sound too confusing. These resale part numbers were created by a company that no longer is in business but their customers know all of the parts by these reference numbers. Is there maybe a work around? if quickbooks wont allow you to link them together?
I have been using journal entries to record prepaid expenses.Scenario:1 Oct I made a prepayment of R100.4 Oct I was invoiced for the actual services of R11.50 (including VAT)On Quickbooks online:Journal entry 1 (1 Oct):Dr Prepaid expense 100Cr Bank 100Journal entry 2 (4 Oct):Dr Expense 10Cr Prepaid Expense 10[Note: system asks for VAT type next to the journal entries and I chose standard 15%, at the bottom it shows total is R11.5]When I went to check my VAT report, journal entry 2 is present however the VAT amount is R0.When I check my prepaid expense balance it shows R90 (instead of R88.50)
The system stated that, it can only get transactions from 19 September 2019. I need the system to retrieve transactions from at least 3 months back.
I have uploaded financial information and the data was incorrectly captured. I need to fix this. How do I fix this?
I have made purchases with personal funds for the company and all articles i find seem like workarounds rather than correct methods. They all also happen to be different methods which is worrisome. I need to do the following. 1. record the purchase( expense ) 2. increase short term loan account under my name3. reimburse myself from the company bank account ( decrease bank and decrease current liability) what is the correct way to record this within quickbooks. the company is a pty ltd .
I disconnected then reconnect my bank account from Quickbooks Onnline. It now update with no errors, however I don't get any transactions feeding through and I know there are plenty of them. During connection I asked for the last 30 days transactions and none have pulled through. When I select Update, it updates then confirms that is has finished the updated - but not transactions come into Quickbooks. Band account is Standard Bank.
