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Xpressccs22
May 20, 2022
Question

how to record a transaction

  • May 20, 2022
  • 1 reply
  • 0 views

I need help to record these transactions in QuickBooks Online, our company offers permitting services to transportation companies. We have different permitting packages for these companies, and this includes the state and local fees for these permits.  How should I record the state fees as an expense, or do I need to create a client escrow account? Example Intrastate package value is $800 but company needs to pay for these permits which is $275.

1 reply

Rose-A
Rose-A
May 20, 2022

Hi, Xpressccs22.

 

Yes\, you can create an account and a service item for the fees. Once created, you can include the service item to your invoices.

 

You can scan through the following articles below for the detailed steps in adding an item and account in QuickBooks Online: 

 

Add an account to your chart of accounts in QuickBooks Online.

Add, edit, and delete items.

 

In case you need help with managing your expenses in QuickBooks Online, check this write-up: Expenses and suppliers. This will provide you with links on how your expense transactions work in QuickBooks.

 

I'm always here should you have any follow-up questions or concerns. Wishing you and your business continued success!

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Xpressccs22Author
May 21, 2022

Thank you for answer me, but the correct way to do it is to create an expense or should I create an escrow account?

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