Expenses & Suppliers

No text available

I have a business owner who used his corporate credit card to purchase something in his own business (the same business as the credit card). Basically it looks like Purchase made by Mark Inc from Mark Inc. How do I classify that? what type of expense is it?

I've looked for answers for this throughout the community. Is there a way to auto-alert myself to upcoming bills due, aging of those bills, etc.? There is a function in QBO to send alert reminders to customers, but not for us to watch for our upcoming bills. When I get a bill, I want to set the alert to 2 weeks before our due date deadline.

I have read almost all the answers to this question on Google but more and more I read about everyone's answer, I am getting more confused. We are in reselling business and we purchase inventories from retails stores, individuals such as FB, Instagram or private online groups. Most of the times, we do not sell the items immediately and carry them as inventory. Sometimes takes a few weeks and sometimes takes a year to resale depends on the items. In this case, should I be entering these items under "item details"? And use category for accounting expenses only such as travel, rent, phone bills...etc? I do not have accounting background so I am still studying the method how it works..

I have a supplier who has an amount owing to them from a Journal Entry in 2017 "to record beginning balance".  What is the best way to clear this account?

No text available

No text available

I have been using inventory tracking but it seems that there are a lot of steps involved in the way I am doing it.  Just wondering if there is a faster way of entering and categorizing transactions of inventory purchases.  Here's what I'm doing now: 1. Email the receipt to Quickbooks, go into the receipt and categorize as Inventory Asset.2. Go into my banking and match the transaction to the expense.3. Go into Expenses, find the expense previously categorized as Inventory Asset, go into it, open the invoice, and copy all of the inventory items purchased into the Item Details, confirm all is correct and save. I guess my concern is that when I am categorizing the receipts and then matching the transactions, if I am doing a long list of receipts I could easily forget to then go into the Expenses list and find the inventory related ones and then edit them and enter the inventory items.  If there was a way of doing this with the receipt transaction it would eliminat

No text available

No text available

No text available

No text available

No text available

He is self employed on contract in US. For 3 months . He has rented a room in a home to save on lodging. Are all his meals travel meals? I’m trying to figure out if they are all business expense because he is away from home.

Is there a receipt capture app that works with inventory tracking and Quickbooks Online?  We use Receiptbank but we it doesn't work for tracking individual inventory....unless it has these capabilities and someone can lead us in the right 

Hi there, I'm using Quickbooks Enterprise 2019 and noticed when I print Bill Payment Stubs to send to vendors, the street address line appears after the city address line.  This wouldn't normally be a big deal, but there is a typo in the street address. (This is the address in the top left for my employer, not the vendor address). I looked at Company Info to try and fix, and I see there are two separate Address inputs: Contact Info and Legal Info. Right now the Contact Info address just has the City line and no street address (in one multi-line input box), and the Legal Info address has both, but no typo (each component in a separate input box).  If I try to add the street address line to the Contact Info, then the bill stub shows street address line (no typo), then City line, then street address line (with typo). I can't figure out where the address line with the typo is coming from, can anyone help? Thank you!

Vendor is paid in advance e.g. $100 thru third party, which charges a service charge e.g. $5. Bank cheque is $105 (accounts are A/P and s/c). Bill is received and credit ($100) applied to bill. However, when opening the cheque Transaction History, it shows the $5 as bill payable. Do you just leave that as is or did I enter the cheque wrong? A/P in trial balance is good and bank feed agrees. If I change the cheque amount and make it 2 cheques, my bank feed will disagree and the $105 will remain outstanding.

No text available

No text available

So I placed and paid for an order with my supplier and entered the invoice/payment into 1500 - Inventory Assets.  One of the items was out of stock, so they direct deposited $80 back into my bank account. When I enter this deposit, I have tried doing it as a supplier credit and also as a bank deposit, but neither way will let me allocate the money to the asset account.  I just get the error 'Something isn't quite right', and says to choose a different account to allocate it to.  Why is this?? It only make sense to put the refund into the same account as the purchase.

No text available

I entered a cheque as a prepayment in August posted to A/P and entered the supplier's name under Customer/Job. Now in October, I received a few bills. When trying to pay the bills, there is no credit showing. What did I do wrong? I can't delete the cheque as it has already been reconciled.

No text available

No text available

Hello, I do not have the send remittance option either, and I don't understand your explanation of "select the same account when sending remittance to your supplier"? I'm in Canada, so as far as I know we're using the Canadian version.  Can you please help out asap? Thanks