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Jimmy25
Level 1
posted
‎September 22, 2021 04:52 AM
last updated ‎September 22, 2021 4:52 AM

Break down Product Bundle

Hi,

I am trying to figure out how to setup the following scenario

 

We are a non-profit that collects a fee (ex: $100). I want to break that fee down into sub accounts

ex:  handbook $25, awards $25, ceremony $25, misc $25, so I know that even though we got $100 that it has been allocated to those various departments. I tried creating a bundle and created handbook, awards, ceremony, misc as services and pointed them into income accounts (dummy bank accounts). However, whenever I set a invoice a member it shows up -$25 under the various accounts. Not sure if I am setting this up correctly.

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3 Comments 3
DivinaMercy_N
Moderator
Moderator
‎September 22, 2021 08:02 AM

Break down Product Bundle

I've got your back in breaking down fees into subaccounts in QuickBooks Online (QBO), @Jimmy25.

 

In QBO, if you're charging fees to the customers, you'll have to ensure that you tagged it under the income account. If you're reducing the fee on the invoice, make sure that it is under the expense account. To get more information in managing bundle items in QBO, feel free to visit this article: Change product and service item types in QuickBooks Online. This will serve as your guide in creating and changing products under different item types.

 

Then, to monitor transactions allocated under specific accounts in your Chart of Accounts, you can pull up the Profit and Loss Detail report. Let me guide you how:

 

  1. Sign in to your QBO account and navigate to the Reports menu.
  2. From the search field, type Profit and Loss Detail.
  3. Click it to open.
  4. To include the details you need the most, you can customise the report.

 

Should you have any other concerns about breaking down fees in QBO, you can always post here in the Community. I'd be happy to assist you further. Have a good one.  

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Jimmy25
Level 1
‎September 22, 2021 10:07 AM

Break down Product Bundle

@DivinaMercy_N Thanks for explaining. I don't have income as an option, but I do have Revenue. I am guessing that is because I am set up as a non-profit. Not sure. So running the profit/loss report, it now shows members that have pledged for the fee. Is there any way to denote the true balance of these sub accounts that it only shows what is expected and what was actually paid?

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Adrian_A
Moderator
Moderator
‎September 22, 2021 12:55 PM

Break down Product Bundle

Thanks for getting back to us, Jimmy25.

 

You can run the Transaction Detail by Account report. This allows you to customize it and add the balance and what was paid. Here's how:

 

  1. Click the Reports tab.
  2. Enter and select Transaction Detail by Account.
  3. Click Customise.
  4. In the Rows/Columns drop-down, select A/R Paid and Balance.
  5. Click Run report.

 

Don't hesitate to mewnt6ion my name if there's anything that I can help. Keep safe!

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