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jmcbain1
Level 1

How do i add and complete to existing services/purchases entries the client that each service/purchase was provided to over a period of time ?

On the P
5 Comments 5
Rubielyn_J
QuickBooks Team

How do i add and complete to existing services/purchases entries the client that each service/purchase was provided to over a period of time ?

I've got your back to help add or complete existing services entries to the client over a period of time, @jmcbain1.

 

In QuickBooks Online, we can set up progress invoicing to reach your goal. This feature allows you split an estimate into as many invoices as you need. Instead of asking for full payment at the beginning of a project, you can invoice customers for partial payments. As you complete work, add items from the initial estimate to progress invoices. 

 

To begin, make sure to turn on this feature in the system:

 

  1. Proceed to Settings  and choose Account and settings.
  2. Click the Sales tab.
  3. In the Progress Invoicing section, select Edit ✎.
  4. Turn on the switch to Create multiple partial invoices from a single estimate.
  5. Choose Save and then click Done.

 

Once done, create a progress invoice template. You should use this template any time you create a progress invoice. For detailed steps, please see this article: Set up and send progress invoices in QuickBooks Online.

 

Additionally, let me share this link you can utilize in adding estimate summaries to invoices so your customers can see their remaining balance. 

 

Feel free to leave a reply below if you need further help managing your services/purchases in QuickBooks. I'll be happy to help you again. Stay safe and have a good one!

jmcbain1
Level 1

How do i add and complete to existing services/purchases entries the client that each service/purchase was provided to over a period of time ?

Very, very helpful, thank you. they were many financial and services transactions from 2011, 2012, 2013 to 2014 for paid client's PO1 and client's PO2 and Clients' out of scope of work services covering services, hotels, traveling expenses, others.

Today's situation to be resolved is, my company CPA at that time did not classify each transaction to be client, so it show on P&L as not classified, so how do i classify or add the client only to each transaction to properly show on the P&L and overall ? 

MaryLandT
Moderator

How do i add and complete to existing services/purchases entries the client that each service/purchase was provided to over a period of time ?

I'm here to help you classify transactions, jmcbain1.

 

You can classify multiple transactions if you're using QuickBooks Online Accountant (QBOA). Simply use the Reclassify tool to accomplish your task.

 

Here's how:

 

  1. Open your client’s QuickBooks Online company.
  2. Select the Accountant Tools, then Reclassify transactions.
  3. From the Account types drop-down menu, select Profit and Loss to see income and expense accounts.
  4. From the Account list, select the account with the transactions you want to change (Unclassified or Not classified account).
  5. Use the type, class, customer/vendor, and modify filters to filter the list. 
  6. You can also select Accrual to see all paid and unpaid transactions or Cash to see only paid transactions.
  7. Click Find transactions.
  8. Select the checkbox for each transaction you want to change.
  9. Select Reclassify.

 

Choose a new account to move the transaction from the Change account to drop-down, a new class from Change class to drop-down.  When you’re ready, click Apply.

 

Before moving transactions to Accounts Receivable or Accounts payable, make sure to enter a customer or vendor. Don’t leave these fields blank. If not, they'll be tagged as not classified.

 

If you aren't using QBOA, you can open each transaction from the Profit and Loss report. Then, categorize and add the vendor or customer's name.

 

I'm adding this link to help manage your QBOA account and how to use the accountant tools: Learn about special tools for accountant users.

 

Let me know if you need anything else about classifying transactions. I'm always around to help you.

shawnjuli78
Level 2

How do i add and complete to existing services/purchases entries the client that each service/purchase was provided to over a period of time ?

Thanks for sharing these tips. One of the most helpful thread and post that I read. Can you tell me that how can I add hotel loan installment plans in QuickBooks? Do you have any idea about it?

LeizylM
QuickBooks Team

How do i add and complete to existing services/purchases entries the client that each service/purchase was provided to over a period of time ?

Hi there, shawnjuli78.

 

I can share some information on how you can record the loan in QuickBooks Online. 

 

Have you recently taken out loans? If yes, you can start creating a liability account in QuickBooks Online to track the loan and its payments. This account tracks what you owe.

 

Here's how:

 

  1. Go to Settings ⚙, then select Chart of Accounts.
  2. To make a new account, click New.
  3. From the Account Type  dropdown, select Long Term LiabilitiesNote: If you plan to pay off the loan by the end of the current fiscal year, select Other Current Liabilities instead.
  4. From the Detail Type  dropdown  dropdown, select Notes Payable.
  5. Give the account a relevant name, like "Loan for a car" or "Covid-19 relief loan."
  6. Choose when you want to start tracking your finances. In the Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
  7. Select Save and Close.

Then, when you're ready to pay back the loan, you'll have to create a check. Let me show you how:

 

  1. Select the + New button.
  2. Click Check
  3. Add a check number if you plan to send an actual check. If you use direct withdrawal or an ETF, enter Debit or ETF in the Check # field.

Also, if in case you want to put your loan money directly into your bank account, follow the steps below:

 

  1. Select + New.
  2. Click Journal entry.
  3. On the first line, select the liability account you just created from the Account dropdown. Enter the loan amount in the Credits column.
  4. On the second line, select your bank account from the Account dropdown. Enter the same loan amount in the Debits column.
  5. When you're done, hit Save and close.

Check out these links to learn more about how to issue a multi-purpose loan. Also, help you set up a recurring invoice for your customer for monthly payments.

 

 

Please know that you're always welcome to post again if you have any other loan concerns. I'm always here to help. Wishing you and your business continued success. 

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