The Credit Card Purchase/Refund screen has two modes—Purchase/Charge and Refund/Credit. The screen label changes according to the mode selected by you.
The following are descriptions of fields on this screen:
Credit Card:
Displays the credit card account for which you want to record a transaction. The drop-down includes all the credit card accounts whose information is saved in BillQuick Online. For the selected account, you can also see its Ending Balance here. This ending balance increases as more purchases and charges are recorded against the selected credit card.
View Previous Entries:
Allows you to select and view details of a previous credit card transaction.
Purchase/Charge:
You can choose this option to record a transaction involving a purchase or charge against a credit card.
Refund/Credit:
Alternatively, you can choose this option to record a transaction involving a refund or credit against a credit card. A credit refund transaction makes a negative expense entry in BillQuick Online and, therefore, credits the associated project.
No.:
You can assign a number to your credit card transaction here. It can be a receipt number or reference number of the transaction.
Date:
The date on which the credit card transaction was made. By default, today's date is selected.
Purchased From:
You can select the person from whom a purchase was made. It can be a vendor, employee, client or any other contact. You can also create a new, generic vendor named Credit Card Purchase (or something similar) and select it here for all your credit card purchase transactions. In this case, your vendor list will not be too long.
Amount:
Displays the amount involved in the transaction being recorded, thus changing the ending balance of the selected credit card. It can be a charge amount or refund amount. A charge amount increases the ending balance while a refund decreases the ending balance of a credit card.
Memo:
You can add notes regarding the credit card transaction. You can also note the name of the real vendor here if you have selected a generic vendor in the Purchased From field.
Accounts Tab
You can use the Accounts tab for general expenses. It allows you to specify the accounts which need to be credited or debited for the credit card transaction—whether purchase or refund. The following are descriptions of fields on the Credit Card-Accounts screen:
Account:
This is the account which is credited or debited for the credit card transaction. It can be a bank, income, expense or any other account.
Memo:
You can enter any additional information or note about the credit card transaction here.
Amount:
This is the credit card charge or purchase amount involved in the transaction. Else, it can be the amount of refund issued to the vendor (or any other person) from whom a purchase was made.
Class:
You can select a class from the drop-down list for the credit card transaction. It displays classes in the drop-downs only if they are available in the Class List screen in BillQuick Online.
For A/R accounts, you must specify a project. For A/P accounts, you must select a vendor.
Items Tab
You can use the Items tab if you have bought service and expense items from any person. The Items tab allows you to define the items for which the credit card transaction was made—whether purchase or refund. The following are descriptions of fields on the Credit Card-Items screen:
Item:
This is the service/activity or expense item purchased from or returned to a vendor (or any other person).
Description:
This is the description of the selected service or expense item. However, you can edit it here.
Project:
ID of the project against which the items are being charged or purchased.
Quantity:
This represents the number of service hours or expense units purchased from or returned to a vendor (or any other person).
Cost:
Cost rate of the service or expense item purchased from or returned to a vendor (or any other person).
Amount:
The total cost amount of the service or expense item purchased from or returned to a vendor (or any other person). It is calculated as a product of cost and quantity of the items.
Amount = Quantity x Cost
Billable:
The billable status of the item. When checked, it means the item can be billed to the client associated with the project against which it is being charged.
Expense Account:
The account to which the transaction related to the service or expense item is posted. When entering credit card charges, you can specify an expense account here.
Class:
You can select a class from the drop-down list for the credit card transaction. It displays classes in the drop-downs only if they are available in the Class List screen in BillQuick Online. Classes are assigned at the item level (activity and expense) or project level but can be overwritten here.
Credit Card Purchase/Refund Button Panel
Help:
Opens the BillQuick Online Help in the Credit Card Purchase/Refund section.
Journal:
Opens the journal report showing the credit card purchase or refund details. Preview displays a full screen representation of a report and shows the actual accounting behind the scenes. It provides you with various options: export, print or email report, page setup, printer selection, navigation, modify fonts and items, zoom or sort data, find data, memorize report, etc.
Delete:
Deletes the current transaction or entry.
Cancel:
Cancels any action and clears the screen.
New:
Allows you to record a new credit card transaction.
Save:
Saves the transaction.