So when marking an invoice as paid it doesn't have any affect on the transaction section as the invoice section is just for your reference only. So you would have to record the expenses relating to the invoices and when you have received payment from the customer you record it as business income.
Hello Joel, So that is up to you if you are in effect passing on the expense, you can record the expense of buying the goods and then pass on the cost in the invoice and then you can in transactions add the full income amount as business income. That would be the best practice.
So when marking an invoice as paid it doesn't have any affect on the transaction section as the invoice section is just for your reference only. So you would have to record the expenses relating to the invoices and when you have received payment from the customer you record it as business income.
Thanks for the message. Would this mean if I do a job for a client where I have to buy something on their behalf I should categorise that as a separate QB business expense before sending the invoice. The invoice will include that expense but when the client processes/pays the invoice, I record that (including the reimbursed expense) as business income?
Hello Joel, So that is up to you if you are in effect passing on the expense, you can record the expense of buying the goods and then pass on the cost in the invoice and then you can in transactions add the full income amount as business income. That would be the best practice.
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