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Bill Date for Service based company

Hi

 

I'm looking for advice on which date to use for Bill Date for a service based company. 
For example, I book a vendor for a job to occur next month.

 

I create the bill today, but I think I'd like the Bill Date to be the date of the job, with the due date at some point after that date based on my terms with that vendor. 

 

Is there any reason not do list Bill Date as date of job? Is there a downside to putting the Bill Date as a date in the future and not the date I created the bill?

 

Thanks in advance

1 Comment
QuickBooks Team

Re: Bill Date for Service based company

Hello haskenazi1,

 

Thank you for posting here in the Community. I'd be glad to assist you with any questions you may have with creating a bill in QuickBooks Online.

 

When you run the reports within the QuickBooks system, the basis in pulling up transactions are the dates when you created them and not the due dates. You can record the bill and mirror them as to when you create the actual transactions.

 

It would still be best to seek expert advice from an accountant to ensure it'll not affect your reporting needs in the future. To learn more about the Source and Targets concept, I'm adding the article I recommend on this:

 

Targets vs. Sources overview.

 

Please let me know if you have additional questions related to creating bills. I'll be right here to assist you.