How to set up and track Licensing Fees by sales

I go you covered today, mhbee.

You'll want to create an expense account to track licensing fees in QuickBooks Desktop. If you're not sure what expense account to use, I recommend consulting an accounting professional to help you.

Here's how to create an account:

1. Go to the Lists menu, then select Chart of Accounts.
2. From the Account dropdown, select New.
3. Select an account type, then select Continue.
4. Complete the account details.
5. Click Save & Close.

Then, you can link the expense account to the product.

This article provides the complete steps on how to set up an account: Create, edit, or delete account in QuickBooks Desktop.

On the other note, since you don't have payroll and no employees, you can use the class/location tracking feature. You can apply this when creating the transactions.

Everything you need to about how class tracking works in QBDT can be found in the following articles:

• Set up and use class tracking in QuickBooks Desktop.
• How to use class tracking in QuickBooks.

Feel free to visit our QuickBooks Help Articles page for more insight s about managing your business in your software.

Don't hesitate to let me know if there's anything else you need help with when tracking licensing fees. Have a good one.

Hi, mhbee.

Hope you’re doing great. I wanted to see how everything is going about setting up and track Licensing Fees by sales. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

Looking forward to your reply. Have a pleasant day ahead!