Daycares

I was thinking of establishing a liability acct for Qwelcc and subsidy and in the monthly invoice have 3 lines

parent fees

qwelcc subsidy

parent subsidy

say the monthly fee was 1000 of which  520 is Qwelcc 300 is subsidy and parent fee is 180

monthly invoice to parent is 180

Cr parent fees 280

Dr Qwelcc 520

dr parent subsidy 300

when parent pays

cr bank

Dr parent fees

when Qwelcc payment received

cr bank

dr Qwelcc 

when subsidy received

cr bank

dr subsidy

can the invoice to parents show all Lines and can I get reports showing Qwelcc balances by child

Hey there Buajittk,

Thank you for contacting us here. Ensuring that you record your transactions correctly is an essential step in maintaining clean books. I would be happy to provide some information.

To ensure the accuracy of your books, I recommend that you contact an accounting professional for expert advice. They will be able to point you in the right direction so that your accounts can end up with the correct balance. Having an accountant can be beneficial for you and your business. You can add your accountant to your books by going to the My Accountant tab in your QuickBooks account. You can also find an accountant who has experience with QuickBooks near you by clicking the Find a professional to help you option in this section.

If you have any further questions, please do not hesitate to contact us here.