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How to offer a discount on an invoice to a customer? What is the proper way? For services it may be fine to just enter the service and the discount amount in rate field and quantity can be one. However for stock items one would be forced to enter stock quantity X rate. This may not be what one may want to achieve. For example invoice raised for 500 units of a stock sold at £3 = 1,500 + VAT 20% £300 = 1,800. If a discount of £300 all inclusive (i.e. £250 + £50) is supposed to be given how can a Credit Note be raised remembering that it is not return of goods but a flat discount that needs to be given? QBO does not have a filed in Credit Note for Account Category. It forces the use of Products/Services with Quantity X Rate.
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I have a seperate savings account which is for my Income Tax and NI, every month i transfer an amount from my Business account into the savings, this amount does not correspond to the actual Tax and NI i should pay but just whatever i can transfer. In my previous accounting software i was using an Equity account i called Tax/NI Savings to show the transactions, will this be the same in QB or should i be using another account? I'm self employed and using QB Online. Many Thanks Chris
Hello , would really welcome some help pleaseIf I load the annual Non Domestic Rates Bill on the supplier account - I have an open or overdue balance for the whole amount. When I then enter the monthly direct debit payments it will reduce by that much until the debt is cleared. Is there a better way to do this i.e not showing the council as account payable every month!thank youMichelle
I wonder if anyone can help. When we prepare invoices we wish to include an account summary. This is fine. It comes out like this: Then at the bottom of the invoice we have this: Which indicates the new charges and the total balance due. This is pretty confusing for clients, who just want to know the amount they need to pay on this invoice. Surely it should say "Total balance due". Is it possible to change this? Then the email says: Which at least matches the invoice, but isn't the amount due on that invoice. Then finally, when clients click the payment link in the invoice email, they get this: Which is back to the amount due on that invoice again. This is a mess right? How do we fix this?
The question is more like: how do i match a Bank Deposit (create thru New->Bank Deposit not to be confused with a downloaded banking transaction) to an invoice? I'm using QBO for our real estate rental business. every month we get a statement from our property manager where they detail any expenses (cleanup, maintenance, management fee) and also the monthly rent paid by the tenants. i have the tenants setup in qbo as customers and i created for each one an invoice so i can track the sales (accounts receivable) so when i get the monthly statement i want to match it up with the dowloaded banking transaction (single transaction in my bank account) and add all the details so they shows up on my P&L. In order to do that i first create a "Bank Deposit" and I start adding all the line items including the rental income from the statement. at the end of it i got in the banking tab and match the banking transaction to this "Bank Deposit" which works fin
I sent an invoice via email yesterday but customer has not received it.just wondering what i have done wrong.
Dear Team, I am new to quickbooks. We have a supplier invoice payment pending for lets say $1000. However, we want to deduct a charge of $100 incurred due to a mistake from their side. We have issued a cheque of $900 in their name. Should i put the full amount of $1000 against the invoice payment ? Or should I put only $900. What about the $100 that will be still shown as 'payment due'.
Hi i am fairly new to QB I wondered if someone can help me please? A supplier has part refunded one amount for 2 purchase invoices how do I put this on the system please? It is only a partial refund At the moment it is just sitting on the banking screen. Thank you in advance
I created a memorized transaction (MemTx) to add inventory items from our production, to the inventory. The transaction has all our inventory items, with 0 (zero) quantity (QTY) for all items. When we want to add inventory items, we type the quantity to the corresponding item(s), all other items in the transaction remain with 0 in the QTY column. Then we record the transaction.When I drill down on the inventory activity, I see that an activity (transaction) was recorded for all the items with 0 in the quantity column. This does not affect the inventory count or valuation, but it inflates the number of transactions when we drill into the inventory activity for each item.Is it possible to avoid that an activity/transaction is created for the the items that have 0 quantity in the memorized transaction?
Hello! In chart of accounts I have an account EUR Customer Prepayments. Naturally for receiving prepayments from Customers who pay in EUROs. I know that I can create sub-accounts to that one such as "French Customers EUR Prepayments" or "Dutch Customers EUR Prepayments" or whatever. But is it possible to create a sub-sub account? I.e. to have a multi-leveled hierarchy:AccountSub-account inside AccountSub-sub accounts inside Sub-AccountEUR Customer prepaymentsFrench Customers EUR PrepaymentsClient A Client B Client C
Hi all. I have a literary agent who invoices on my behalf and either charges a commission of 12.5% + VAT or 10%+VAT and an additional 5% on behalf of a Lawyer that's VAT exempt as it's US. I'm VAT registered. What ends up in my account is a net figure of my fees + VAT, Minus one of the above deductions. I'm trying to figure out how best to document this in Quickbooks. Any advice welcome. Thanks
Hi, I can find the answer to this anywhere and would like to know the correct way to record iZettle payments to QuickBooks SELF EMPLOYED in the UK iZettle does not connect to QuickBooks self employed so I'm guessing I have to enter the transactions manually, not a problem (although a lot of work) is this correct?Enter full amount charged to client eg, Client Vicky £160 as "business income", enter a new transaction named iZettle fees £2.60 as an expense? if this is correct I'm struggling to find what category from the drop down menu I class the iZettle fee as, could someone please advise? The other option I have is to wait until the money hits my bank (this will be a mix of different transactions minus the iZettle fee), QuickBooks will auto pic this up from my bank account and I can just record it as "customer payments" under "business income" however it will not show a brake down of transactions and fees, is this acceptable to HMRC or do they need a brake down of all of
This is a fairly simple question, but we're new to QB. We just moved a credit balance from our credit card statement to our bank account as we needed the money :) We did this inbetween statement cycles for both the credit card and the bank. How do we correctly enter this transaction so that both the credit card statement and the bank statement will balance when we receive those next monthly statements?
Hello and thank you for having me here.I have a Starling account which is linked to Quickbooks. On Starling, they have a good option of opening pocket accounts within the same account to help you put some money on the side for future bills, payments etc. its called (Goals)I created a couple of Goal savings for the lease and another one for utilities.Every-time I transfer the money in or out, it is showing on QB as an additional expense.Theoretically the money is not leaving the account, unless I actually pay the bill, but quickbook is recording the internal movement plus the bill payment.It might sound a bit confusing, for example, when I put a £100 on the side in one of these sub accounts, QB records it as expense, then when its time to actually pay the bill, I have to move this £100 from the sub account into the account in order to make a payment, so QB records the £100 as paid in again, then paid to the supplier, resulting in the same £100 paid twice out and once paid in.In sum
