Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
August 13, 2020
Question

How do i setup an account for money to pass thru but not count as income?

  • August 13, 2020
  • 2 replies
  • 25 views
We receive payments on behalf of our client. If the person sending us the check does not include any money for us, we deposit the check and write a new check to send to our clients.

2 replies

Level 1
August 14, 2020

Hi @micheline-hoarep , is it grant funds? What's the reason of payment? Comment back, cheers.

July 3, 2021

Can you show us an expanse of how it’s done. I get the first part but I am confused about how the payments is issued using the same account. 

DivinaMercy_N
Moderator
July 3, 2021

Thanks for joining this thread, @AmmarS.

 

I'm here to provide additional info about the previous response provided by Rustler. To issue the payment under the same account, you'll have to ensure that the service item created is assigned to the Liability account on both Income and Expense account fields. Let me guide you how:

 

  1. Go to the Sales menu and select Products and Services.
  2. Look for the service item created (If you haven't created one, click the New button and choose Service) and select the Edit option. 
  3. Scroll down to the Description and Purchasing information sections.
  4. Make sure that you select Liability account as the Income account and Expense account.
  5. Once done, select Save and close. 

 

This way, the expense or sales transactions entered will be directed to the liability account.

 

Community articles are also a great help to guide you with your QuickBooks tasks. You can either save them or bookmark them for future use. To do so, just type the keyword of your concern

in the search bar or select any of the categories displayed. 

 

Keep me posted if you need further assistance processing payments using the same accounts. I'll be on the lookout for your response. Take care always. 

Rustler
Level 15
August 14, 2020

@micheline-hoarep wrote:
We receive payments on behalf of our client. If the person sending us the check does not include any money for us, we deposit the check and write a new check to send to our clients.

Set up a liability account and a service item that links to it

use that service item on a sales receipt when it is received

use that same item on an expense form when making the payment