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Ste Scott
Level 1

Wholesale Receipts

Hi.

Please excuse my naivety. 

I am still new to doing all this. I am currently snapping all my receipts ie fuel and stock payments. I am, however, struggling as to what I do with wholesale invoices and remittance advice notes.

I get wholesale advice notes without any figures on then. I also get an invoice for that remittance advice note via email. 

I am paying my wholesale bill in random amounts like £1000 instead of paying each invoice separately.

My question Is do I need to put each invoice email onto the quickbooks app or do I just file these away and just put the transaction from my bank to the wholesalers down as cost of goods for resale?

 

Hope this makes sense!

Thanks

Ste

1 REPLY 1
JonpriL
Moderator

Wholesale Receipts

Hello there, @Ste Scott!

 

There are two things you can consider in tracking your online banking transactions. First, you can connect your bank account in the system so you can easily categorise your transactions once they're downloaded from your bank. Let me show you how.

  1. Go to the Gear icon.
  2. Under Transactions, select Bank Accounts.
  3. Enter your bank's name or website.
  4. Select Continue.
  5. Click Connect securely.

From here, you can go ahead and categorise your online banking transactions. You can read through this article to learn more: Categorise transactions in QuickBooks Self-Employed.

 

Second, you can consider manually entering your transaction into the system. I'll show you how.

  1. Go to Transactions.
  2. Tap Add transaction.
  3. Enter a description and amount of your transaction.
  4. In the Category column, select the appropriate category of your transaction.
  5. Click Save.

In addition, here's an article you can read to learn more about how you can manually add a transaction: Manually add transactions in QuickBooks Self-Employed.

 

Lastly, I've got you this helpful article for ideas about how you can manage your account and other related tasks: QuickBooks Self-Employed Overview.

 

If there's anything else that I can help you with, please let me know in the comment section down below. I'\m always around happy to lend a helping hand.

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