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Join nowCustomers buy online and the services charge a fee and I credit that fee from the invoice and charge it back as an expense to track through the discount/credit field on Pro 2021. See how to do the discount online but how do you track the discount back to the site?
Hello there, @sdoyl1231. Let me help you do discounts or credits to your invoices and charge fees as an expense in QuickBooks Online (QBO).
You can easily discount a percentage of an invoice in QBO. Since you just moved to QBO, I can tell that you're using the new version of invoices. With this, you can turn the discount setting on and off directly on the form.
To add a discount to the subtotal on an invoice, please refer to these steps:
You can learn more about how to discount your invoices by checking out this article: Add a discount to an invoice or sales receipt in QuickBooks Online.
Then, you can charge fees as an expense by recording billable expense transactions that you can later link to your customer's invoices. It's an expense you incur on your customer’s behalf (in your case, it's the service charge fee).
The first step you need to do is to turn on the billable expense tracking feature. Here's how:
Next is to bill your customer for the expense and then add it to your invoice. For the step-by-step guide, please refer to this article starting with Step 3: Enter billable expenses.
Once you're done, you can run reports like the Income by Customer Summary report to know your income minus your expenses (net income) for each of your customers. You can do this by going to the Sales and customer section from the Reports menu's Standard tab.
Also, you may want to check out one of our Help pages as a reference in case you need a guide in managing your company's income and customers using QBO: Sales and customers help for QuickBooks Online. It includes topics about payments, customer statements, and credits, to name a few.
You can keep me posted on how it goes in the comments below. If you have other concerns about applying discounts and billable expenses to invoices or questions about managing income and sales transactions in QBO, I'm always ready to help. Take care, and I wish you continued success, @sdoyl1231.
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