QuickBooks Tips & Tricks - Invoicing for Expenses - Accounting Software Secrets
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QuickBooks Tips & Tricks – Invoicing for Expenses

QuickBooks Tips & Tricks – Invoicing for Expenses

QuickBooks Tips & Tricks – Invoicing for Expenses

QuickBooks has a feature that permits creating an invoice from expense and items entered on bills, checks and credit card charges. By using this process expenses will not be missed. Here”s a quick overview of the steps.

Enter the amounts due to vendors – When entering the expenditures; be sure to enter the appropriate customer in the name column. The icon next to the name is an invoice, when it is white it is billable, when it is grey, it has been invoiced, when it has a red “X” over it, it will appear on job costing reports but will not be billable. The expense tab and item tab both permit job costing the expenditure. This is true for bills and checks and credit card charges.

Review the amounts to be target=”_self”>invoiced – There are primarily two reports that can be used to review the amounts waiting to be invoiced, prior to actually generating an invoice. The first is the Unbilled Costs by Job. This report includes both items and expense. The second is the time by job report that should be modified to include the date range of all and the billed status of unbilled. The later is only hours. There is no way in QuickBooks to generate a true “work in process” report that includes items, expenses, and time as dollars (i.e. time x sales price). The only alternative we are aware of for those businesses using the time features of QuickBooks is an Excel AddIn product from Big Red Consulting called WIP Reports for QuickBooks.

Create an invoice – Enter the customer: job name and click on the time/cost button. You may choose to invoice for items, expenses (with or without a markup) and time. The amount charged to the customer can be changed on the invoice itself. In addition there are several choices as to how the items will be transferred, i.e. in total, by individual transaction, etc.


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