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How To Customize Expense Settings In QuickBooks Online
In our continuing series of customization of company settings in QBO, I will tell you how to customize the Expense settings in QuickBook Online. As a reminder, why is it important to customize the setting in QBO? Because you can tailor QBO specifically to your company, you can get more functionality than QBO, and you can save time.
Access Company Settings
First, click the Gear icon in the upper right hand side and choose Company settings.
Please note that some of these options are only available on QuickBooks Online Plus View my posts on the right version of QuickBooks Online
How to customize bills and expenses settings in Quickbook online
Click on Expenses on the left to customize expense settings.
Click on Bills and Expenses or the pencil icon to edit.
1. Show item table on expense and purchase forms - this option adds product / service table on cost and purchase so that you can assess products and services. If you track the list, you will need it because you will be able to enter the item on the purchase order and seller bill.
2. Keep an eye on expenditures and items by customer - This option adds customer columns on the expense and purchase form so that you can track expenses and items by the customer. If you want to use the cost of the job, you will need it. You will be able to allot a customer name or job / project for a specific expense on the purchase order form and seller bill.
3. Make expenses and items billable - Adds billable columns on expense and purchase form so that you can add billable expenses and items on sale forms. You'll need this if you want to track spend customers billable and want to subsequently invoice them for customers. You must ensure that option # 2 (track expense and item by customer) will also be turned on.
4. Track billable expenses and items as income - According to the details, QBO says that "use one or more income accounts to track billable expenses." Related settings: Advanced> Chart of accounts > Billable Expense Income Account ". I tested it and found that it was confusing. It appears that it is designed to track billable expenditure and mark them as a customer after marking them as income. There are other ways to do this in less confusing ways: I suggest that if you want to be able to show invoices to customers as "billable expense income" you can turn this feature on.
5. Charge Sales Tax - The Sales Tax checkbox applies only to those bills you mark as payable, determining whether to add sales tax to billable expenses that you include in your customer's invoice. You must first turn on Sales Tax (Home screen from left navigation bar, click Sales Tax, and click Edit Sales Tax Settings).
6. Default bill payment terms - Here you can set default payment terms that you will use to pay for your vendors. For example, you can select Net 30 - This means that the QBO vendor will flag the seller for 30 days from the date of the seller invoice. When you enter the seller's payment, you can always override the default payment terms.
Click Save when done with this section
How to customize purchase order settings in Quickbooks online
After that, click on the purchase order or click the pencil icon on the right to edit it. (Just as a reminder, purchase orders are only available with QuickBooks Online Plus)
1. Use purchase order - To use purchase orders, turn on the purchase order feature. If you have a type of business or you sell inventory, you want to use the purchase order. If you are unsure that you need a purchase order, then you probably do not have to use them
2. Custom Fields - You can add 3 custom fields to the purchase order. QBO has 2 pre-filled ones for you. You can change them You may want to use these fields for project numbers, sales representatives, and any other custom fields.
3. Custom Transaction Number - This lets you specify your own number sequence to purchase orders. I suggest you give them a QBO number for you. This keeps things simple, leave the box uncheck to order a QBO number purchase order for you.
4. Default message on purchase order - You can add up to 1000 characters custom message to your purchase orders.
Click Save when done with this section
When you are finished, click on the bottom right bottom.
That did not take too long! I have shown to you how to customize the expense
setting in QuickBook Online so that you can get the most functionality from QBO.



