Solved

Bills VS Expenses

Forum|Forum|5 years ago
July 31, 2020
1 reply
1 view

We are in the hospitality industry we have loads of suppliers we pay for good and services . Am looking for clarification how to record the following i.e as a bill or expenses

Self employed housekeepers - they are paid dependant on hours worked

Energy bills - they are not always the same amount dependent on usage ( do we create a bill or expense)

Linen laundering

Consumables - teas, coffees, toiletries

Commission paid to third parties for example paid to online travel agents

Thank you in advance

QuickBooks Online

Best answer by GeorgiaC

Hi Westsideproperties,

That's correct, the expense and bill post the same way in the system, except the bill is a two-part transaction where you need to record the service and payment separately.

If you have a regular direct debit date, you can set up a recurring expense for these services by going to the Cog wheel > Recurring transactions > New and fill in the template with the details of the transaction.

You can see more on setting these up here - get back to us below if you have any more Q's 😊

A

Ashleigh1

Level 14

Hello Westsideproperties,

Welcome to the Community page,

So bills will be something that you receive a bill for and pay later for it. Whereas an expense is something you pay straight away for.

So it all depends on how you pay for them to which they go to.

W

WestsidepropertiesAuthor

Thank you. So using your example if l receive an invoice from plumber today and pay straightaway l post it as an expense. If l have a rent to pay monthly then a bill can be set up for this category.

How about payments by direct debit charged to us a week or month after we have purchased a service?

G

GeorgiaCAnswer

Level 13

Hi Westsideproperties,

That's correct, the expense and bill post the same way in the system, except the bill is a two-part transaction where you need to record the service and payment separately.

If you have a regular direct debit date, you can set up a recurring expense for these services by going to the Cog wheel > Recurring transactions > New and fill in the template with the details of the transaction.

You can see more on setting these up here - get back to us below if you have any more Q's 😊

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