I can share some insights when importing invoices in QuickBooks Online, @Haseeb.
Just make sure that you purchase the items that are going to sell so that they will not cause a negative inventory. A billable expense is an expense you incur on your customer’s behalf when you perform work for them. You can easily record and track billable expenses so your customer can reimburse them when they receive their invoice.
- Go to + New.
- Select Expense, Cheque, or Bill. Learn when to use expenses or bills.
- From the Payee ▼ dropdown, select the supplier. This opens a window with their open purchase orders.
- Click Add for the correct purchase order. It adds the items from the purchase order. They appear in the Item details section.
- If you plan to bill a customer for a specific item, select the Billable checkbox. Then add the customer you plan to bill in the Customer column.
- Select Save and close.
When you don't update the price of your product on the invoice, inflation occurs. To avoid confusion when entering the item's price on the invoice, we advise buying the product first.
With this, let's consider creating your expense with no negative entries since it is already a money-out transaction. And it will automatically reduce the quantity of your inventory. Learn more about your transaction with this article: Enter and Manage Expenses in QuickBooks Online.
On top of that, I've also included this reference helpful with the resources needed while with your expenses and vendors: Enter expenses, pay bills, write checks, and manage suppliers in QuickBooks Online.
Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around and happy to help. Take care and stay safe!
