You can send summary or detailed invoices to QuickBooks Online. Every invoice item in QuickBooks Online must be assigned to an account. For detailed invoices having activity and expense items on them, you can set the accounts at the item level. For summarized invoices, you must specify default income accounts for summarized services and expenses that are invoiced. Tax items should be assigned to a liability account such as Sales Tax Payable. All these accounts are set on the Account Assignment panel.
Besides specifying accounts for activity and expense items, you need to specify default income and expense accounts for other invoice items. These are the accounts into which the service, expense, tax, retainer, late fee and other amounts on BillQuick Online invoices transfer upon synchronization. You can specify these accounts on the Invoices panel of the Settings screen.
Invoices having line items with zero units can be brought from QuickBooks Online to BillQuick Online.
The following are descriptions of fields on this screen:
You can select the relevant income/expense accounts from the drop-down lists for each of these invoice items.
|
Item |
Description |
| Invoice Discount Amount |
Discount amount applied to an invoice in Billing Review or Manual Invoice before processing. It reduces the final invoice amount after taxes have been added. |
| Retainer Amount Applied | Retainer amount that is applied to an invoice in Billing Review or Manual Invoice prior to processing. It reduces the final invoice amount after taxes. |
| Misc Amount | Any miscellaneous charges added to the bill amount in Manual Invoice. This applies to the manual invoices only. |
| Amount Paid | Payment amount received on a manual invoice. It is recorded in the Paid Today field of Manual Invoice. |
| Service Amount | Labor/service amount billed on an invoice in Billing Review or Manual Invoice. It does not include item taxes (Tax 1/2/3 of time entries) nor the Main Service Tax. |
| Service Tax Amount | Tax charged on the services in Billing Review. It is the sum of Tax 1/2/3 for the time entries and excludes Main Service Tax. |
| Expense Amount | The expense amount billed on an invoice in Billing Review or Manual Invoice. It does not include item taxes (Tax 1/2/3 of expense entries) nor the Main Expense Tax. |
| Expense Tax Amount | Tax charged on the expenses in Billing Review. It is the sum of Tax 1/2/3 for the expense entries and excludes Main Expense Tax. |
| Main Service Tax |
Main Service Tax is the main tax charged on invoiced services/labor. It can be assigned in the Company, Client or Project screen but finalized in Billing Review or Manual Invoice. |
| Main Expense Tax | Main Expense Tax is the main tax charged on invoiced expenses. It can be assigned in the Company, Client or Project screen but finalized in Billing Review or Manual Invoice. |
| Retainer Paid/Applied | Total amount of retainer paid by the client and recorded in the Payments screen. |
| Late Fee | Late fee calculated on the outstanding invoice balance in Invoice Review. |
| Fixed Fee for Cost Plus | Amount charged as fixed fee for projects with cost plus contracts. It is added to the Net Bill amount in Billing Review or Manual Invoice. |
Invoice Accounts
Income Account:
The QuickBooks Online income account chosen here is assigned to the invoice item selected in the list. By default, no account (blank) is selected, but you can choose any Account Name from the drop-down list.
Expense Account:
The QuickBooks Online expense account chosen here is assigned to the invoice item selected in the list. By default, no account (blank) is selected, but you can choose any Account Name from the drop-down list.
If you select Other Liability account type in the Income Account field (say Sales Tax Payable), then you must choose a Vendor here instead of the expense account. The liability is payable to the vendor specified here.
Do Not Send Time/Expense Details. . .
You are given the option of not sending time and expense details for various invoice types transferred from BillQuick Online to QuickBooks Online. You can check any contract type (such as Hourly, Percentage, Cost Plus, and so on) or manual invoice for which you do not want to send time and expense details. For example, you might prefer to skip sending time and expense details for fixed invoices but send all the details for hourly invoices.
Do Not Send Late Fee Invoices. . .
BillQuick Online creates separate invoices for late fee calculated on outstanding invoices. You can skip sending these to QuickBooks Online by checking this option. Your BillQuick Online invoices transfer to QuickBooks Online without the late fee invoices.