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Q: Quickbooks configuration for my service business ( No Answer,   0 Comments )
Subject: Quickbooks configuration for my service business
Category: Business and Money > Accounting
Asked by: buckeyetx-ga
List Price: $25.00
Posted: 29 May 2006 18:06 PDT
Expires: 12 Jun 2006 13:29 PDT
Question ID: 733480
I need assistance setting up QuickBooks Premier for my new small
business.  My company offers a unique set of services that we sell by
the hour.  Each time we sell one hour of our service we are, in part,
reselling the hourly services of two other companies.  For example, a
customer buys one hour of service from us for $199.  My company does
part of the work.  Another company does part of the work for which
they charge me $140.  A third company does part of the work for which
they charge me $34.  These two other companies don't send me a bill
but I must track and pay twice a month for their services.

I have several hourly service "packages" which I sell for different
prices but are based on the same principle (reselling the hourly
services provided by two vendors).

I would like to be able to set-up Quickbooks such that all my
"packages" have a specific name "Basic", "Luxury", etc.  When I
receive a payment from a customer, I would like to be able to enter it
into QuickBooks - for example, customer Smith purchased four hours of
Basic and 8 hours of Luxury.  Quickbooks should automatically
increment the amount that I owe the associated vendors for their
services and allow me to run a report (or look up my account balance
with each vendor) so I can pay them in full twice a month.

I am requesting step-by-step instructions on how to set this up in
QuickBooks.  I am familiar with the basics of QuickBooks and getting
around the interface.  I am also familar with the basics of
accounting, for example, I understand that these vendor costs
represent "costs of goods sold". However, I don't know how to create a
service package that is a non-inventory item and includes the costs
from two vendors (but is entered as a single line-item purchase) and
tracks my balances owed to each vendor.

I hope this is not too confusing and I am happy to answer follow-up questions.
There is no answer at this time.

There are no comments at this time.

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