You may use the class as a departmental account. Set up marketing, R&D, production, etc. as a class; then, tag it to each income or expense account when creating an invoice or bill.

Coronavirus pandemic has sent a shockwave to small businesses. It changes how we used to work.

When the company is profitable, part of the earnings may return to the investor as a dividend. ..

Software: Intuit QuickBooks Online Singapore (QBO) The QuickBooks Desktop accounting software allows user to select a different Accounts Receivable account when preparing a Sales Invoice transaction. Some users may have set up multiple Accounts Receivable accounts such as Trade Debtors, Other Debtors, and Inter-companies; and use them accordingly in the relevant transaction. However, the multiple […]

Software: Quickbooks accounting software If you have received the supplier’s bill before the goods received, you should not convert the Purchase Order to Bill. Instead, you should consider to record the bill from the supplier and park it to the “Advance to Supplier” account. The “Advance to Supplier” account (You may consider to use “Stock […]