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Posted by Allan Martin on September 9, 2006, 6:52 am
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> Ok - I have NEVER used quickbooks and I just started a new job where I
> have to process bills to
> be paid-for the bookkeepe who then puts them in QB.
> I have a maybe complicated question about what QB can do:
> Say for instance I have an Electric Bill.
> It has to be split up between 2 catagories (not sure what you call them
> in quickbooks)
> say for instance
> Administration 10% usage
> Main Store Front 90% usage
> (this is oversimplified for the example)
> Anyway, is there a way to have QB have those calculations and
> catagories in certain
> Payees ?
QuickBooks does not have the ability to set up and use "distribution sets"
for vendors. As a matter of fact it does not even have a feature for
associating a default general ledger account with each vendor. QB's
feature for recalling the last transaction made for a vendor is lacking.
The use of default GL accounts and distribution sets is quite common in
mid-range accounting products. In addition mid-range products also have a
feature that can
automatically allocate amounts posted to certain general ledger accounts to
other accounts based on formulas.
> So for instance if the Electric Bill is $256.00, all the book keeper
> need do is enter the 256.00 and because we set it up to automatically
> allocate 90% for the Store and 10% for Admin, it will do the math
> automatically?
> (sort of like if you had a spreadsheet with calculations in it?)
>
> Right now that is how I have to do it. The owner has the few payees
> (actually there are more than a few)
> on a spreadsheet and %'s assigned for each catagory.
> Gosh, I used Quicken years ago and I could have sworn you could do that
> automatically....
> Thanks for any help on impressing my new boss!
> Laura
>
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