Question

1. What specific information is required when creating a new product that is not required when creating a new service?

2. How do you view a previously entered credit card charge in QBO?

Answer 1

1.The features, uses and and after effects of the new product should be analysed when compared to a new service.

Best way to connect credit card charges to bills

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.