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I routinely give away a free photoshoot to grow my business.
How do I record this in Quickbooks so that I can take advantage of expenses Ive incurred to procure new customers. ?
For example - I give away a photoshoot that I would charge a customer $200.00. How do I account for that?
Thank you for contacting us today, FlaMike.
Do you want to make it billable to your customer? If so, you can create a billable expense to make the customer pay for the photoshoot.
It's easy to record and track billable expenses so your customer can reimburse them when they receive their invoice. Here's how to create the transaction.
Once done, link the billable expense to your customer's invoice.
Please don't forget to turn on billable expense tracking. Here's a short video about how to do it.
When you get paid, record the payment in QuickBooks. To add new customers, here's a link for instructions and detailed steps: Learn how to add, edit, delete, or merge customers in QuickBooks Online.
Please click the Reply button below and leave a comment if you have additional questions. I'm always glad to help manage your expenses and customer transactions @FlaMike.
The only expenses you can record are your actual expenses incurred for those photo shoots. The fact that you would normally charge $200 is irrelevant. Think of it like this: if a retail business donates an item that costs $50 wholesale, but retails for $100, the store can only deduct the $50 they paid for it as an expense because that is the only expense they incurred.
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