Hello,
I am helping a grocery delivery business setup their accounts in QuickBooks Online. The business model is that they have a charge account with the supermarket and collect the groceries on behalf of their customers and the customers pay for the groceries on delivery along with a delivery fee (they do not accept cash or cheque on delivery - only debit card or credit card).
I am mapping out the journal transactions to check if these transactions are correct (please do not think that I am setting up journal entry transactions in QBO. I am checking to see if my thought process is correct): -
Customer
Dr Shopping Expense
Dr Credit card Fees
Cr A/c Payable - Grocery Delivery Company
Dr A/c Payable - Grocery Delivery Company
Cr Cash (from Customer)
Grocery Delivery Company
Dr A/c Receivable - Customer
Cr A/c Payable - Supermarket
Dr Cash - Customer
Cr A/c Receivable - Customer
Dr Delivery Fees
Cr Sales
Dr A/c Payable - Supermarket
Cr Cash - Grocery Delivery Company
Dr Delivery Drivers Expense
Cr Cash
Supermarket
Dr A/c Receivable - Grocery Delivery Company
Cr Sales
Dr Cash - Grocery Delivery Company
Cr A/c receivable - Grocery Delivery Company
What is the best approach to setup the Grocery Delivery Company's books in QBO? Should I setup a Customer Listing for the Customers and create/send invoices to the customers? Create the Supermarkets as a Vendor Listing and write/pay bills to the Supermarkets?
Thanks