Hope ya'll are doing great. I need some assistance on how do I record transactions under my scenario. I have a digital marketing company providing services such as social media marketing, mail marketing, website design, etc.
I incur marketing expenses (google, facebook, etc) on behalf of my customer using my bank account which is also synced with QBO. At the end of the month, i sent my customer a sales invoice i.e. cost incurred+my margin. Customer then pays me through check, which I deposit to the same bank account.
Now when I go into Banking section in QBO to review all the transactions, how would I record:
- the payments i made throughout the month on behalf of the customer for the marketing services I provided and
- the payment received by the customer at the end of the month against the above transactions.
Thank you for your prompt reply, as well. I'll answer this query for you.
The billable expense feature stated by my peer @JenoP above is exclusive to the QuickBooks Online (QBO) Plus and Advanced versions. You'll have to upgrade to at least the Plus version to use this feature.
If you wish to proceed, follow these steps:
Go to the Gear icon.
Select Account and Settings.
Click the Billing & Subscription tab.
Choose Upgrade your plan.
Go for the Plus version, then tap Choose plan.
Follow the on-screen tips to proceed.
So you'll have an overview of the different features available for each plan, see this page: QBO Plans and Pricing.
Please know that we always have your back here in the Community. Drop a comment if you need further assistance, and I'll get back to you.