how to enter expenses in quickbooks 2013

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Assign an Income account to track the markup separately. If you have a default Markup, enter it (you can always update it on individual transactions).

In the Preferences, go to Time & Expenses and look at the Company Preferences. The first thing you need to do to work with pass-through expenses is to turn on the features. Learn more by joining our CPE webinar presented by Alicia Katz Pollock, ' Pass Through Expenses in QBDT' on Sept. Then we’ll look at a few reports that can make all the difference between just getting by, and thriving. Let’s take a look at how to set up QuickBooks Desktop’s job costing system, and how to mark expenses billable to customers and then pass them through to an invoice. We sat down as a group, turned on the features, and transformed their workflows to give them new insight into their income and expenses.

QuickBooks Desktop has features that allow clients to get reimbursed for their expenses including purchases, mileage, billable time, and subcontracted labor. I was delighted that they were ready to rise up to the next level! Instead of treating their QuickBooks like a checkbook, they were ready to use it for job costing, and billing for time and materials. They wondered if their QuickBooks had tools that would allow them to track the cycle of time and materials, to make sure that their customers were being invoiced correctly. Several of the women came to me, concerned that while they knew they were making money, their volume meant that their husbands couldn’t keep track of it all in their heads anymore. This community of construction entrepreneurs was busier than ever.Īlong with that growth came a new concern about profitability. Now that people were staying home, they started investing in house remodels to transform their living spaces. It was a thriving business model, and I delighted on setting up the bookkeeping for each one.įast forward a few years, and the new normal meant that their businesses were skyrocketing. They all worked together, recommending each other to their clients. What they all had in common was that the husband did the work while the wife kept the books. Their trades varied from custom carpentry to glass doors to specialty railings. One of my niches for a while was mom-and-pop construction shops in Portland, Oregon’s community of Russian immigrants.

How to enter expenses in quickbooks 2013