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iahmed-paviliong
Level 1

different payments to reimburse in one chq

Hello All

 

I want to reimburse different job payments say 4-5 payments some of bills and expenses and vendor payments too and all done by the owners and want to make one chq for all these payments 
any idea how do i record it in QBO plus and issue one chq

 

also how to manage project expenses and reconcile against the project float from the project owners

 

10x

A

1 Comment 1
MariaSoledadG
QuickBooks Team

different payments to reimburse in one chq

You can only select one (1) payee at a time when creating a cheque in QuickBooks Online (QBO). Let me guide you on how you can go about this process, iahmed. 

 

If you need to reimburse multiple payments to the same vendor, you can create only one check in QuickBooks. However, if you need to reimburse payments to different vendors, then you can create separate checks for each vendor. It is important to keep this distinction to ensure accurate record-keeping in your financial system.

 

On the other hand, you'll have to accurately track all the expenses related to the project using the Project feature and compare the total project expenses to date to the amount of the project float to manage project expenses and reconcile them against the project float. If the total expenses are less than the project float, they are within budget. But if the total expenses exceed, they are over budget. 

 

After tracking project expense , you can run the Project Profitability report to monitor the progress of the project and identify any potential issues or overruns. This report is a measurement of how much money a project can make your own business, or the financial gain or loss on a project. Aside from that, this help you identify the overspending and where you need to make adjustment to keep the project on budget. 
project profitability.png

In addition, QuickBooks provides various other reports outside the Projects feature that help tracks expenses and revenue. All you need to do is filter the information correctly to obtain the right data you need. I've added this article for helpful information: Customise Reports in QuickBooks Online.

 

You can always touch base with us here in the Community if you have any other concerns about managing expenses under projects. We're always here to help. 

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