It’s vital to mark expenses that will be billed to a customer as “billable” so that the expense is available to add to the customer invoice. Billable/markup: An expense entered in the check register cannot be classified as billable, and a markup percentage cannot be provided.Customer/Project: Amounts entered in the check register cannot be assigned to a customer or project, which prevents QuickBooks Online from preparing accurate profit and loss reports by customer or project.Amounts recorded through the proper input screens can be assigned to any combination of multiple accounts and items. Multiple accounts: The entire bank transaction recorded in the check register must be assigned to a single account.Any sale of services should be assigned to the correct Service Item so that QuickBooks Online can provide a helpful breakdown of your revenue by service. Any purchase or sale of inventory must be assigned to the correct Inventory Item for QuickBooks Online to track your inventory quantity and cost. The register only allows assigning amounts directly to an account, sometimes called a category in QuickBooks Online. Items: The check register does not allow you to assign transactions to Items in your products and services list.

For instance, the check register does not provide fields for: The check register does not provide all the necessary fields.

These input screens provide fields for all the information QuickBooks needs to account for the transactions properly and provide in-depth reporting. One of the strengths of QuickBooks Online is the use of easy-to-understand screens for inputting transactions. Why You Should Not Enter Bank Transactions Directly in the Check Register How to Manage Credit Card Sales With a Third-party Credit Card Processor How to Manage Credit Card Sales With QuickBooks Payments How to Reconcile Business Credit Card Accounts How to Manage Downloaded Business Credit Card Transactions How to Enter Business Credit Card Transactions Manually Part 5: Managing Business Credit Card Transactions How to Handle Bounced Checks From Customers

How to Transfer Funds Between Bank Accounts How to Manage Downloaded Banking Transactions How to Enter Banking Transactions Manually How to Set Up the Products and Services List How to Set Up Invoices, Sales Receipts & Estimates How to Customize Invoices, Sales Receipts & Estimates

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