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Join nowI've searched the web and these forums and can't find an answer for this yet.
I'm setting up a progress billing. The project is supported by some federal grants, and for a number of reasons we've made a commitment to a large cost share in the project. So we charge our typical rates for the work, but then we make an in kind contribution. LIke this:
Design thing 1...............20 hours...............................$200/hour....................$4,000
Design thing 2................20 Hours..............................$200/hour...................$4,000
Write about it..................10 hours...............................$200/hour...................$2,000
Sub-Total $10,000
My Cost Share $4,000
Net Invoice $6,000
I'd like to be able to apply a single line item of "my cost share" on each invoice.
I've tried it as a credit, but it's throwing off an error that we can't have a negative value credit.
Ideally I'd like something that lets me make one cost share line as if it were a discount.
I don't want to have to discount line by line not only because it's onerous, but also because it doesn't allow me to transparently show my cost share obligation.
How does one do this?
Hello there, @quo_vadimus.
I recommend setting up an Item in your account, so you can add the Line Item to the Invoice and make the correct actions for discounting and recording. No worries, I'm here to show you how to set up the My Cost Shares as an Item:
2. Press on the Item drop-down menu at the bottom of the window and select New.
3. Click on the Type drop-down and choose Discount.
4. Fill out the rest of the template and hit OK.
Now that you have the Discount Item ready to go, you can add this as a Line Item on your Invoice. I've provided the steps below on how to do this with ease:
The Discount Item applies a discount to the total Amount on the Customer Invoice. The only option that is available for the Item itself it the Mark Up option. However, you can double-click the item and edit the Amount like so:
If you have additional questions or concerns, please don't hesitate and reach back out! I'm always here if you need me.
Thank you.
How do i track my non-profit's organization's cost-share contribution to a specific grant? I have set the name of the grant under Customer Job. But as i enter a credit card charge for a wire transfer that covers several different expenses, how do i differentiate between expenses being covered by the grant and which are contributions from my non-profit? Example, in the wire the grant covers the expenses for some infrastructure material, my organization covers some labor and the administrative fees.
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