For my customers I travel A LOT, and the flights, hotels, car rentals, etc., are paid for by the client. I add these expenses to the invoice, but there is no way for me to add the cost that was paid for it as well, and it changes every single time. How can I create an item/service with an automatic zero markup, or in a way the system knows that I make zero profit on it? Currently it's causing my project page to show profit inflation from these items and I need to fix that.
Hi there, A_Beardman.
I'll help you create an item with an automatic zero markup in QuickBooks Online.
QuickBooks will automatically set a default once you turn on markups. If everything was all set, you can start entering billable expenses to incur customers that have zero profit. Here's how:
For more details, check out this article: Enter billable expenses.
Also, I'm adding these articles that'll guide you on how to manage your expenses and track billable time by job in QuickBooks Online:
I'm always here if you need further assistance with managing your expenses. It's my pleasure to help. Have a good one.
OK I think the above answer will work for simple straight forward charges but how would I handle a complex situation like flights that were rebooked for a project multiple times due to customer delays, and there are additional costs, refunds, and credits involved in those transactions. Preferably I would just want a single line item that says "Flights" on the invoice. Possible?
I've got just the information about adding a line item on your invoice to suit your needs, @A_Beardman.
Yes, you’re right. You can create a line item on your invoice that will represent the additional charges. Just to clarify, are you referring to having all the charges in one line item? If so, QBO doesn’t have that option yet.
In the meantime, I recommend creating the additional charges as items. This lets you indicate their detailed description on your invoices.
To add them, just click on the last item created under Product/Service, and it will automatically add a line item. For more information about this, you can click this link.
Additionally, you can use the flight item for credit, which should be entered as a negative amount on the same invoice. You also have the option of creating a credit memo and applying it to the invoice. Then, you can send the statement to your customer regarding the transactions.
Moreover, QBO offers a feature where you can also customize your sales forms by adding crucial information about your business. Kindly refer to this link for the step-by-step guide.
Here's an article you can use when receiving and recording payments in QuickBooks Online. It includes video and steps to process payments.
I’ll be here to help answer your questions about managing line items or any other QuickBooks-related concerns. You can reply them below. Take care and have a nice day.