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ESTreas
Level 1

My flying club sells introductory flights to the general public. How can I track the expenses of the flight against the revenue from selling the flight?

 
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Best answer December 01, 2022

Best Answers
MJoy_D
Moderator

My flying club sells introductory flights to the general public. How can I track the expenses of the flight against the revenue from selling the flight?

I can share some information that can help you with tracking expenses and revenue from selling introductory flights, @ESTreas.

 

You can set this flight as a product or a service item in QuickBooks Online (QBO). Make sure to set the sales price/rate and the cost of this flight. Once done, use that item in your invoices and sales receipts when there's a sale. Check out this article for more information on how to set up product and service items you buy and sell: Add product and service items to QuickBooks Online

 

Check out this article for detailed guidance on how and when to create a sales receipt and invoices in QBO:

 

 

Once done, you can run reports to check your expenses and revenue: Customize reports in QuickBooks Online.

 

Let me know if you have any other concerns with tracking your expenses and revenue. I'll do my best to help! Have a great rest of the day!

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3 Comments 3
MJoy_D
Moderator

My flying club sells introductory flights to the general public. How can I track the expenses of the flight against the revenue from selling the flight?

I can share some information that can help you with tracking expenses and revenue from selling introductory flights, @ESTreas.

 

You can set this flight as a product or a service item in QuickBooks Online (QBO). Make sure to set the sales price/rate and the cost of this flight. Once done, use that item in your invoices and sales receipts when there's a sale. Check out this article for more information on how to set up product and service items you buy and sell: Add product and service items to QuickBooks Online

 

Check out this article for detailed guidance on how and when to create a sales receipt and invoices in QBO:

 

 

Once done, you can run reports to check your expenses and revenue: Customize reports in QuickBooks Online.

 

Let me know if you have any other concerns with tracking your expenses and revenue. I'll do my best to help! Have a great rest of the day!

ESTreas
Level 1

My flying club sells introductory flights to the general public. How can I track the expenses of the flight against the revenue from selling the flight?

Thank you, you have answered my question

JamaicaA
QuickBooks Team

My flying club sells introductory flights to the general public. How can I track the expenses of the flight against the revenue from selling the flight?

You’re always welcome, @ESTreas.

 

It’s our pleasure to know we’re able to address your concerns about tracing expenses and revenue from selling introductory flights. We want to ensure our users are on top of their business.

 

In case you have other queries about setting items, you can always post a reply in this thread. I’ll be around ready to listen and assist you. Have a great day ahead!

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