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QBP2007 Unearned Income Heating Oil Distributor/Sales

  
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Subject Author Date
QBP2007 Unearned Income Heating Oil Distributor/Sales Dave 05-23-2008
Posted by Dave on May 23, 2008, 5:36 pm
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 Have started a new service for home heating oil customers. Customer is put
on a budget per month to pay for oil delivery at future date.
1. Deposit customer monthly checks to Unearned Income.
2, Short term liability set up.
3. Deliver oil (probably in fall).
4. Journal Entry made after delivery Unearned Income, Short term liability,
sales..
Is this correct or the best way to do this in QB?.



Posted by Haskel LaPort on May 24, 2008, 9:32 am
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> Have started a new service for home heating oil customers. Customer is
> put on a budget per month to pay for oil delivery at future date.
> 1. Deposit customer monthly checks to Unearned Income.
> 2, Short term liability set up.
> 3. Deliver oil (probably in fall).
> 4. Journal Entry made after delivery Unearned Income, Short term
> liability, sales..
> Is this correct or the best way to do this in QB?.

Get software dedicated for your industry.




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>



Posted by Haskel LaPort on May 24, 2008, 11:28 am
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>> Have started a new service for home heating oil customers. Customer is
>> put on a budget per month to pay for oil delivery at future date.
>> 1. Deposit customer monthly checks to Unearned Income.
>> 2, Short term liability set up.
>> 3. Deliver oil (probably in fall).
>> 4. Journal Entry made after delivery Unearned Income, Short term
>> liability, sales..
>> Is this correct or the best way to do this in QB?.
>
> Get software dedicated for your industry.

Perhaps you do have industry specific software (as you should) then your
method is fine.

There are hundreds of thousands of QuickBooks users that use special
industry specific front office software and QB just for their back office
operations. Prime examples of these are medical care providers,
veterinarians, and home and office oil delivery companies and many others.











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Posted by Karl on May 24, 2008, 11:07 am
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You can create an Other Charge item to add to a customer invoice created
based on delivery. Point this item to Unearned Income and add it to the
invoice as a negative amount.


> Have started a new service for home heating oil customers. Customer is
> put on a budget per month to pay for oil delivery at future date.
> 1. Deposit customer monthly checks to Unearned Income.
> 2, Short term liability set up.
> 3. Deliver oil (probably in fall).
> 4. Journal Entry made after delivery Unearned Income, Short term
> liability, sales..
> Is this correct or the best way to do this in QB?.
>



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