Hi there, @bbph. Thanks for reaching out to us. I'm here to guide you in recording the winnings and fees in QuickBooks. You can enter these transactions as a service item in the program. Here's how: Go to the Sales menu and then select the Products and services tab.Select New.Choose Service.Give the fee a name.From the Category ▼ drop-down menu, select the category that best describes the fee.Fill out the necessary fields.Once done, select on Save and close. Here's also an article that you can read to help manage your product and service items: Change product and service item types in QuickBook. Stay in touch with us if you need further assistance. We're always around to assist you anytime. Have a great day!

Question

I held an event where we hired staff, there were entry fees and winnings paid. How would I log that all in QuickBooks?

Forum|Forum|5 years ago
April 5, 2021
1 reply
1 view

No text available

QuickBooks Online

T

TirzahC

Level 4

Hi there, @bbph. Thanks for reaching out to us.

I'm here to guide you in recording the winnings and fees in QuickBooks. You can enter these transactions as a service item in the program. Here's how:

Go to the Sales menu and then select the Products and services tab.
Select New.
Choose Service.
Give the fee a name.
From the Category ▼ drop-down menu, select the category that best describes the fee.
Fill out the necessary fields.
Once done, select on Save and close.

Here's also an article that you can read to help manage your product and service items: Change product and service item types in QuickBook.

Stay in touch with us if you need further assistance. We're always around to assist you anytime. Have a great day!

B

bbphAuthor

It was other people who won. So we put on an event with the company where people came and competed, while paying entry fees, and in the end those that won were paid out. All winnings were paid by the company. I guess what I am asking is how would I log this event, with the paid contract labor, people who paid entries, and people who won money back?

C

ChristieAnn 11

Level 9

Hi there, bbph.

I appreciate you for coming back to QuickBooks Community to add clarification and detailed information about your concern. I'll help sort this out and provide the necessary steps, so you're able to record transactions in QuickBooks Online.

You can enter those entries by recording a Check in the QuickBooks system. This ensures your accounts are up-to-date and all of your business transactions are accounted for.

Here's how:

Select the New button.
Choose Check.
Choose the Payee from the drop-down.
From the Bank account drop-down, select the account the check withdraws money from.
Fill in the necessary fields.
Hit Save and close to close the check window.

For additional information, you can refer to this article: Create and record checks in QuickBooks Online.

However, I still suggest consulting an accountant to help you properly organize or record those entries in detailed information.

Please check this article to view steps on how you can enter the bounced check as an expense in QuickBooks Online: Record a returned or bounced check customer check using an expense.

If you have any other concerns, don't hesitate to post again or click the reply button. I'll be glad to help. Take care!

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