Skip to main content
H
heritagecompany
December 4, 2022
Question

Credit Cards

  • December 4, 2022
  • 1 reply
  • 0 views

Hi!

 

I have a remodeling construction company and use the Projects feature to keep up with all of my different jobs. My contracts with my customers are on a cost-plus basis meaning all my expenses I incur are then billed to my customer. When I purchase something with my credit card, I then bill my customers once a week for all the expenses. I am trying to figure our a way to keep up with what payments have been made back to my credit card for specific customers/projects. When you make a credit card payment you can't assign it to a project. So therefor, my project will show the expenses I have charged on my credit card, but what is the best practice within QBO to keep up with what expenses on that project have actually been paid back to the credit card for that project?

1 reply

K
Kurt_M
December 4, 2022

Thanks for reaching out here in the Community, @heritagecompany. I'll ensure you're able to track the expenses on your project that have been paid back to the credit card for that project in QuickBooks Online (QBO).

 

In QuickBooks, you can create a billable expense and then have it added to the invoice created for a specific customer/project. This way, it's easy to track the payments made back to your credit card from that customer/project. I can input the steps below so you can proceed. To begin, here's how:

 

  1. Access your QuickBooks Online company.
  2. On the left navigational bar, go to the Projects tab.
  3. Select the Project, and then click the Add to project button.
  4. Choose Expense, and then fill the information in each field.
  5. In the Billable column, tick the box to make the expense billable.

 

Once done, create an invoice inside the project and then add the billable expense. These are the steps:

 

  1. Click the Add to project button, and then select Invoice.
  2. Choose the customer, and then fill the necessary information in each field.
  3. On your right, you'll see the billable expense that you've created.
  4. Click Add to link the billable expense to the invoice.
  5. Once done, press Save and then Receive payment for that invoice.

 

See this article for more information about how to manage projects in QBO: Set up and create projects in QuickBooks Online.

 

In addition, here's an article about customizing a report to show specific data inside your company: Customize reports in QuickBooks Online.

 

You can also check this page in case you'd like to memorize your reports to keep your current settings and apply it to your future reports in QBO: Memorize reports in QuickBooks Online.

 

The Community is always ready in case you need further assistance managing your projects in QuickBooks, @heritagecompany. You can also post here again if you have any additional QuickBooks-related concerns. I'll be here to help you. Take care!

H
heritagecompanyAuthor
December 4, 2022

Hey @Kurt_M ,

 

I may not have been clear in my question. I know how to do what you have explained in making expenses billable to a customer and then invoicing them. But once you do so, I have to remember to pay my credit card for those specific transactions related to that invoice. Is there a way to track when you have paid your credit card that is related to the transactions you have billed?

DivinaMercy_N
DivinaMercy_N
December 4, 2022

Thanks for getting back here, @heritagecompany. I want to ensure you'll be able to track your credit card payments in QuickBooks Online (QBO).

 

There are several ways how you can track payments you made to your credit card. To start, I'll outline the main way how you can record it in QBO:

 

  1. Navigate to the + New button.
  2. Next, select Pay down credit card under the Money Out (Business view) or Other (Accountant view) section.
  3. Then, choose the credit card you made the payment.
  4. From there, enter the payment amount and the date of the payment.
  5. Pick the bank account you paid the credit card with.
  6. If you made a payment with a check, choose I made a payment with a check. Then, enter the check number, or if you paid electronically, enter the EFT number.
  7. You can also add notes or file attachments in the Memo and Attachments field. Once done, select Save and Close.

 

To learn other alternative ways how you can record the payment, such as creating a check. Feel free to check this article for a detailed guide: Record your payments to credit cards in QuickBooks Online. 

 

Please don't hesitate to leave a reply below if you have any other concerns about managing your credit card transactions in QBO. I'm just a post away to help. Have a good one and keep safe. 

Terms & ConditionsAccessibility statement