QuickBooks Q&A
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Is it possible to change the name of Bill Payments from using the word "Cheque" - Bill Payment (Cheque) - since it doesn't make sense in countries like South Africa where cheque's are no longer accepted or used. The example is a prepayment was made to a supplier via bank transfer (not cheque). The amount was added as an expense to the Accounts Payable account for the supplier. A bill was created and now that prepayment must be allocated. It should say "Bill Payment (Credit)", or at least not have the word "cheque".
I'm trying to setup a foreign supplier which is prepaid expense (VOIP/telephone supplier). The supplier is prepaid X amount, and then they invoice every month off the balance. I created a current account under Prepaid Expenses and allocated a bank payment into that account in a foreign currency (USD) at the exchange rate on that date. The Prepaid account is in USD, and home currency is ZAR. Below are the issues: 1) QB doesn't allow an Expense to be captured where the source of the funds is a Prepaid Account. This doesn't make sense since its a prepaid asset account? The only option then is to do a manual journal entry but then you lose the capturing and reporting of the expense (ie. invoice) when viewing the supplier. Is there no way around this flaw? 2) The other issue is that QB doesn't use the correct exchange rate when doing the journal entry. For example, if I credit the Prepaid asset account (USD) and debit the Utilities account (ZAR) once an invoice is issued by t
How do I add a purchase order number to an invoice?I have read how to Add a custom field, however I do not see the option to add field.
Please advise if you can assist with a problem I have at hand, see below contents: A specific client has an available credit/payment on their account from 2020.The client has taken this available credit/payment with a payment they have made in 2021.When a payment receipt is being done to allocate the payment the client has made, the available credit/payment can then be selected with the payment, see below:Once we have selected the available credit/payment with the payment receipt and we save and close the system then does not see that the credit was taken with the 2021 payment, it shows that the available credit/payment now as it’s original payment receipt allocation from 2020.The major problem this is causing is that the trial balance figures change. How do we go about allocating the avaialbe credits/payment on any clients account from the past, by not letting the system process this allocation in the past months, so that it does not affect our reporting numbers?
