We're delighted to have you here today, @CTZEE12. We'll provide details to help you get around this to record gift packs and reflect them in their respective accounts inside QuickBooks Online (QBO).
When a customer purchases an item or product from your company, you'll want to enter them as an Invoice and receive payment once it's settled. We'll input the steps below to get you going:
- Access your QuickBooks Online company.
- On the left navigational bar, click the +New button.
- Choose Invoice.
- Select a customer, and then enter the necessary details in each field inside the invoice page.
- Once done, click Save or Save and send button.
After invoicing your customer, you'll need to record their payments to indicate that the transaction is complete and added to your books inside the program. You can visit this page for further guidelines: Record invoice payments in QuickBooks Online.
When paying the gift packs from your supplier, you can enter it as a Bill and settle it. We recommend checking this article for more details: Enter bills and record bill payments in QuickBooks Online.
In tracking the COS and delivery fees, you'll need a liability account, set up a non-taxable item, and then add the retail delivery fee to your invoice. You can check these articles to learn how you can set up a liability account and a non-taxable item inside QuickBooks:
Once ready, here's how you can add the retail delivery fee to an invoice:
- Access your QuickBooks Online company.
- Go to + New, then select Invoice.
- Fill out details for an invoice.
- Select the retail delivery fee item in a line item. A reminder, make sure the box marking a line item as taxable is unchecked for the fee so it doesn’t report additional sales tax.
- Click Save.
Lastly, record the payments made to your tax agency. These are the steps:
- Go to + New, then select Check.
- Under Bank Account, select the account this was paid from.
- Select the right vendor under Payee.
- Click + Add new to create a new payee/vendor.
- Choose the liability account created earlier from the Category ▼ dropdown.
- Enter Amount.
- Select Save and close.
In your last scenario, we recommend reviewing the Income account used under the gift packs. Ensure they're using a Current liability account as their income account to show them in your account history. Furthermore, you can check this page to help you verify transaction records inside QBO and add more details when running a report:
You can comment below or visit us anytime here in the Community space. We'll be here to provide further assistance in managing transaction posting inside the program. Keep safe, and have a nice day.
