Thanks for joining this thread. Allow me to step in and provide you some information about matching the multiple transactions in QuickBooks Online.
In QuickBooks Online, you're unable to match multiple downloaded transactions to a single entry. Instead, you’ll need to remove the two transactions and the other transaction as cleared.
To learn more about the process of matching transactions you entered in QuickBooks, please check this article for more information: Reconcile Bank and Credit Card Accounts in QuickBooks Desktop.
Reach out to me if you need further assistance, I’m always here to help. Take care and have a great day!
If I understand correctly, you're wanting to split a invoice you receive (that you are to pay to a vendor) into multiple payments?
E.g: You agree to pay your landscaper $12500 in three payments of ($4000, $5500, and $3000) each month on the 15th.
You'll want to enter the 'BILL' for the entire amount $12500.00, then on the 15th (this month) go to "Pay Bills" you'll see the entire bill amount of $12500, but enter the amount of the FIRST payment, $4000. Next 15th of the month, pay bills again, but this time will show the balance of $8500. this time enter the second payment amount, $5500. Repeat on the 3rd month to close out the bill.
The bill will appear in AP as a lump sum $12500, with 3 bill payments (as specified above). Each payment hitting the bank, again as specified.
Hope that helps...
For the sake of simplicity. If the company is reporting on a cash basis uses the expense option to record all your expenses. Ensure you receive a receipt to show your supporting documentation, for payees who do not issue receipts you may want to right checks to those payees. If the company is reporting on the accrual basis use the create bill option and the pay the bill once it is paid. Uses only one method do combine the two process (Expense and Bill) unless you are using a hybrid accounting method.
Quickbooks will give you the options for both, however it’s is not good practice to use both options.
My big annoyance with QBO's use of Expenses and Bills is that Expenses can't be linked to Clients or Classes but Bills can. Expenses also don't play well with items that will be treated as inventory assets, and also don't work for vendor credits/returning something or getting refund for something that you didn't end up receiving.
Because of how broken the new "Projects" function is, I still have to use Sub-Clients to track all of my costs and incomes by "project" to see if I am going to break even on it.
I really wish that QB would work on fixing those types of things instead of bringing us all of these expensive new features that not all of us want (and then doubling the prices)
I'm here to give you more details on how QuickBooks works, CGgeff.
You can create a billable expense so it can be link to your customers or classes. We just need to turn it on first. Though it's only available in QuickBooks Online Plus and Advanced. Check this article about billable expenses. There are steps also on that article on how to create one.
Also, there is an option to show or not the items in the expense page. You can use it in creating an expense transaction.
Once done, you'll see the Item details section. You'll want to use this guide on how to record refund from a vendor.
I'm looking forward to assisting you again.
I just started using Desktop Pro 2020 after using Online. I don't see how to record Expenses in the Desktop version. How do I do that?
You can enter a bill or write a check to record an expense transaction in QuickBooks Desktop. Let me guide you with the steps.
To enter a bill:
To write a check:
Please check this article for more information and detailed steps: Create, Modify, And Print Checks.
I have included this link in case you have other questions about QuickBooks Desktop: Banking.
Fill me in if you need anything else. I'm always here to help.