Other questions
Hello,
Let me guide you through an easier process to organize financial records.
Yes, you're correct that you'll need to set up your neighbour as a customer .also you got it right to use an expense account for the utility item. Make sure to set up Other Income to the sales information item as well.
- Go to Lists.
- Select Item List.
- Double-click the item and review the affected Income and Expense account.
- Click ok to save the changes.
You mentioned you paid the utility expenses on your neighbour's behalf. To handle this, you can make this bill billable to the customer. make sure It is set up in the Preferneces. Then, you can create/edit the bill. Pay it afterwards.
Refer to the screenshot of Preferences and the screenshot of the bill with Billable checked.
Once done, you can create an invoice for the customer and use the billable items. refer to screenshot:
Finally, receive payment once the neighbor pays.
For future help, I'll include this article to help you match your bank and credit card statements: Reconcile an account in QuickBooks Desktop
If you have further questions about organizing your financial records in QBDT, you can comment below, and we'll respond to you as soon as possible.
