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Community Contributor *

What is the best way to handle self-billing in QB?

This is where we complete a timesheet and the recruiter issues an invoice to the client on our behalf - so we never issue an invoice ourselves in order to receive payment.

 

Should we just create dummy invoices which we do not send?

 

Please can someone advise?  This is a very common practice for many contractors so I'm surprised there is no help topic.

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Best answer 07-06-2018

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QuickBooks Team

Re: What is the best way to handle self-billing in QB?

Hi LaurenT,

 

Having had a look at the information you have provided, it would seem that the creating of an invoice and NOT sending this to your recruiter would be the most feasible option within QuickBooks Online.

 

When you create invoices, you have two Save options - Save and Send or Save and Close. Save and Close will save the invoice within your books and remain open until payment is received against it. You simply need to click on the dropdown arrow on the Save function in the bottom left of the Create Invoice screen to access these options.

 

Let me know if you need anything further

5 REPLIES 5
Moderator

Re: What is the best way to handle self-billing in QB?

Hello Laura,

 

QuickBooks Online handles self-billing by creating a client or supplier profile for your company or yourself. You can use this articles for your reference:

After that, you can bill or invoice yourself without sending it.

 

Let us know if you need anything.

 

 

Community Contributor *

Re: What is the best way to handle self-billing in QB?

Thanks James.  I'm not entirely sure what you mean? We should send an invoice to ourselves?  The payment comes from the recruiter, so wouldn't it make ore sense to create en invoice to them and simply not send it? Or if not, will it still be possible to allocate the payment coming from Company X to the invoice if it appears to be from us?

QuickBooks Team

Re: What is the best way to handle self-billing in QB?

Hi LaurenT,

 

Having had a look at the information you have provided, it would seem that the creating of an invoice and NOT sending this to your recruiter would be the most feasible option within QuickBooks Online.

 

When you create invoices, you have two Save options - Save and Send or Save and Close. Save and Close will save the invoice within your books and remain open until payment is received against it. You simply need to click on the dropdown arrow on the Save function in the bottom left of the Create Invoice screen to access these options.

 

Let me know if you need anything further

Community Contributor *

Re: What is the best way to handle self-billing in QB?

Hi Gill,  Thanks for this. Can you confirm this is /the right/ way to handle this? I don't want to run into trouble - for example, these invoices wouldn't be  provided to HMRC because they are essentially dummy invoices (the real invoices being the self-bill ones issued by the agency). Could that lead to queries? I just want to make sure this is the correct way to handle these.

QuickBooks Team

Re: What is the best way to handle self-billing in QB?

Hey LauraT,

 

From a technical aspect, this would produce the effect you desire within your books, however here on Technical Support we aren't trained accountants so would be unable to give that financial advice.

 

From a bookkeeping aspect, I would recommend running this suggestion past your accountant to confirm this is correct.