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userbakerresells
Level 1
Lets say on 2/4 My pay advance was 900. on 2/6 my amazon payout hit my account. Brex (the service i use) took back the 900. out of my amazon payout which was 1000..... Should I just make Chart of Accounts. named something like "payout Advance" and assign the brex advances and withdrawals to it?
3 Comments
Jyaeger
Level 2

Hi @userbakerresells 

The pay advance account is essentially making you a loan against your future revenues.  You can set up an other current liability account such as  "Revenue Advance" in your chart of accounts.  Record the payment using a deposit transaction applied to the Revenue Advance account.  When you pay back the advance after receiving your sales revenue from Amazon you will record an debiting the Revenue Advance account and any expense (most likely interest expense) related to the transaction.

 

 

Erin2272
Level 1

This is extremely confusing to me.  I've been using Payabilty for two years.  I'm trying to link my Payabilty account to my Quickbooks Online account.  Please advise.

Rea_M
QuickBooks Team

I've come to share details about linking the Payability app with QuickBooks Online (QBO), @Erin2272. This way, you're able to know the actions you need to take care of the issue.

 

An application will expand the capabilities of your QBO account. However, connecting the Payability app is unavailable for the time being. With this, I'd recommend contacting the app's provider to know different options on how to manage your transactions in QBO.

 

Also, you can visit the QuickBooks Apps page to view the complete list of available apps that can integrate with the QBO system.

 

In the meantime, I'd also recommend visiting our blog. This is to keep you updated with the latest news, features, and program upgrades with QBO: The QuickBooks Blog.

 

Let me know how it goes in the comments below. If you have other concerns about linking third-party applications to QBO or inquiries about managing your transactions, I'm just around to help. Take care always.

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