QB Issue Resolution:
I need to split the amount between cost of goods and shipping expense
If you are buying inventory items and have QBO plus, inbound shipping, taxes, duties are all part of item cost – per the IRS, and are not posted separately.
If I enter the charged amount as a straight credit card charge. Can I later assign or pay several bills to/with that charge as they come in?
Yes, if when you enter the CC charge you select accounts payable – that sets a credit with the vendor in QB, and when you enter a bill, you can apply all or part of the credit in pay bills to pay it.
Entering a CC charge is borrowing money. When you pay it to the vendor that is a deposit basically, since you get nothing in return at the time of payment. When the bill comes in, that is when you spend the borrowed money out of the deposit. So actual expense (or asset purchase) occurs in the period it was used
Resolution for Issue 'I have a vendor who charges my credit card when I place an order for the total amount. Say I see a charge show up on my card for $1360. Then they partially ship over extended an period and each time this is accompanied with a bill for those items shipped. I could just enter the one charge for that vendor and be done with it but I need to split the amount between cost of goods and shipping expense and don’t know those amounts until weeks later the bills start coming in with the goods. I also need to keep track so I know all I paid for is received. If I enter the charged amount as a straight credit card charge. Can I later assign or pay several bills to/with that charge as they come in? I can wait for the first bill, enter say a $550 bill, apply the $1360 payment to it and leave the rest as a credit to apply to consequent bills but this means I have to wait for the first bill before I can enter the charge which could be a month after the charge happens. Thanks' available: Yes (Solved).
Source: Intuit Community forum.
I have a vendor who charges my credit card when I place an order for the total amount. Say I see a charge show up on my card for $1360. Then they partially ship over extended an period and each time this is accompanied with a bill for those items shipped. I could just enter the one charge for that vendor and be done with it but I need to split the amount between cost of goods and shipping expense and don’t know those amounts until weeks later the bills start coming in with the goods. I also need to keep track so I know all I paid for is received. If I enter the charged amount as a straight credit card charge. Can I later assign or pay several bills to/with that charge as they come in? I can wait for the first bill, enter say a $550 bill, apply the $1360 payment to it and leave the rest as a credit to apply to consequent bills but this means I have to wait for the first bill before I can enter the charge which could be a month after the charge happens. Thanks: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.
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