Thanks for checking in with us,gretagray.
In QuickBooks Online (QBO), we can track sales of prepaid subscriptions by creating a liability account. Let me show you how:
- Go to Accounting on the left menu.
- Choose Chart of Accounts.
- Hit New.
- Tap Other Current Liabilities from the Account Type drop-down list.
- Select Trust Accounts - Liabilities under the Detail Type drop-down.
- Enter a name for the account example, Trust Liabilities.
- Press Save and close.
Then, create a service item that you can use when recording invoices. Here's how:
- Click the Gear icon and choose Products and Services.
- Hit New.
- Select Service from the Product/Service Information.
- Add the service item.
- From the Income Account drop-down, choose Trust Liability Account.
- Lastly, click Save and close.
To learn more about this one, see the How to record a retainer or deposit article for more details. When it comes to letting QuickBooks automatically recognize the future subscriptions as profit, we recommend contacting Stripe technical support. Since it's a third-party application and the information we received depends on them.
Feel free to visit our Bring in your data page for more insight s about importing your data into QuickBooks.
Feel free to update us after contacting our support or performing the solutions, as I want to ensure this is resolved for you. Please reply to this post and I'll get back to you. You have a good one.
