I use subcontractors and charge my customer a higher rate than I am billed from the subs. Do I set this up as an item or expense?
AND, how do I enter & pay the vendor bill while at the same time putting in the adjusted amount on the customer bill (when I add it from the time/costs tab)?
Solved! Go to Solution.
Hello there, @zamatta.
I'm here to share some information on how the items recorded in the system impact the invoice and bill you created in QuickBooks Desktop.
To start with, yes, you can create a service item. Just make sure to put a check mark on This service is used in assemblies or is performed by a subcontractor or partner. The cost price or purchase information that will be entered is the amount used in QB when recording Bill. While, the Sales Price will be the one when creating invoices for your customer.
Once created, use the item in creating the invoice the you will send to your customer.
On the other hand, here's how to enter your Vendors bill:
You can also associate this bill to a specific customer. Just put select the name of the customer or job under the Customer column.. Then, put a check mark on Billable.
On the other hand, here's how to pay bill:
That should do it! If you need further help with the steps above, I'd suggest contacting our Customer Care Team. An agent will be able to further assist you via secured remote access session.
Here’s how you can reach them:
If there are any app features you’d like to get more familiar with, feel free to visit our Community page. I’m always here to help you with managing your income and expense transactions.
Please Learn from this input. You got it Half Right, but Half Wrong.
The entry for the Purchase (the bill or check or credit card) is where you Also list that Item. That's the point of setting up the Two Sided item = set it up for use on Purchases and for use on Sales.
Enter the purchase info and Job Track it for that customer as Billable. That makes it available when you make the invoice or sales receipt, then use the Add Time & Costs icon in the top in the ribbon. Here are those Billable Entries from Items, for this sale to this customer.
And now you have Data for Item Profit, as well.
In Edit Item, you can leave the Cost as $0, if you buy that from different providers. That is only Notational and the Actual Cost will come from the Purchase transaction. Putting the Rate in Edit Item sets the Sales Price to the customer, no matter what you paid for that service.
And you would Job Track the purchase as Not billable, if you already Charged the customer for it manually, or are charging a different item. Example:
Contract Fee for your Wedding = $5,000
Then, I job track the Items for purchases of Flowers and Rent the venue and the Band, etc as Directly Related to your name, as Not billable. Now I can run Job Profitability Detail, to see your Wedding, my Costs in one column and your Revenue in another, even if the item(s) I incurred are not the exact thing I "sold" to you.
Please see my attachment.