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Join nowMy accountant has created a Balance Sheet account for Pledges Receivable that is separate from Accounts Receivable. How do I create an item that ties to Pledges Rec. on an invoice/pledge? Thank you.
Good to see you here, ewyorktutor.
I'd be glad to help you manage your transactions in QuickBooks Online (QBO).
You can create a service item to be used on the services by going to the Gear icon. This way, the item will be selected upon creating the invoices in QuickBooks Online.
Here's how:
To give you more tips in adding item in QBO, please see this reference: Add product and service items to QuickBooks Online.
Additionally, please refer to this article on how to create an invoice in QuickBooks Online: How to Create an Invoice in QuickBooks.
Visit again if you have additional questions about handling or managing pledges in QuickBooks. Have a good one!
Thanks LeizyIM but that doesn't answer the question of how do I get the UNPAID portion of the pledge to the accountant-created PLEDGE RECEIVABLES account rather than the Quickbooks default of A/R? Is this possible? Thanks again.
I've got just the answers you're looking for, newyorktutor.
Unpaid Pledges may appear on the Statement of Activity depending on whether it was run in Accrual or Cash Basis. Accrual Basis assumes the revenue is made on the day the Pledge is created, whereas Cash Basis will count revenue on the day the Payment is received. We offer a detailed guide on Cash versus Accrual accounting that you may find helpful.
Additionally, here's a link that'll help you manage customer-related tasks. Just look for a topic that'll fit your concern: Sales and customers.
You can always leave a comment anytime below if you have other questions about pledges. I'll be around for you. Take care and have a wonderful day ahead.
Unfortunately, you can't. QBO only allows you to post invoices to the one, default A/R account. You have to use a journal entry to move receivables from one A/R account to another - not a viable solution IMO. QB Desktop allows you to choose whatever A/R account you want when creating an invoice - another reason that QB Desktop is a superior product, and cheaper.
This is one of those missing features in QB Online that we took for granted in the desktop version. Why was this capability removed in the online version? It's untenable to have to do journal entries to move all the pledges from Accounts Receivable to Pledges Receivable.
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