@qbteachmt wrote:
You didn't show all of the image; if you are Job Tracking, that needs to be on the Items tab. You are supposed to set up and use Items. The Job reporting relies on Items. Items control the flow of data to the accounts, and can be two Sided, for expense and for income as that same thing you incur and charge to the customer. Inventory has three account links. If you are working with the Expenses tab, for COGS or a Balance Sheet account (such as Customer Prepayment or Tenant Security Deposit), that is why you have this issue = the Wrong Tab is being used for the data entry.
I have a handout for this, attached.
I downloaded your handout and what a fantastic overview of a topic I've been researching for myself for several weeks on and off. Well done, and thank you!
Question: What about scenarios where you're not trying to bill customers so much as you are desiring to keep track of "pass-through" transactions? Example: My company has a Lowe's LAR account and the owners occasionally let their children and employees use it for purchases that at a small discount. I need to track those somehow and just get reimbursed for the expense. It's not even an expense to my company in the course of business. It's just an account being used for a pass-through purchase. Variations of this theme abound, especially in small business and closely held corporations. We just share things, bottom line. But we DO want to keep track of everything well so we can answer for it all - I just don't believe it's right to include that in the income OR the expense.
So The question, rephrased, is...
How to (best) track pass-through purchases by multiple people in multiple accounts such that everyone's purchases and reimbursements are (easily?) reconciled and reported?
I've toyed with a separate A/R account... that would keep everything in one place and still keep track of individual customers and their stuff. But you can't associate items with AR accts... so relegated to allocating to the AR acct directly via Expense tab. But then no billing system capability...
thoughts?
