Tag Archives: QuickBooks Online Singapore

Setup inter-company in QuickBooks Online (QBO)

Although you can create multiple receivable accounts in QuickBooks Online Singapore version, the receivable field is not available in the sales invoice form. The intention ‘could be’ trying to simplify the process by having one receivable for each currency to prevent a mistake in the classification of account. For those who are using multiple receivable accounts in QuickBooks Desktop may take note of the differences.

QBO Customer
QuickBooks Online – Customer

Some user may create the subsidiary as a customer or supplier in QuickBooks. You can print a standard Profit & Loss or Balance Sheet report and set the column to display either by customer or supplier. You do not require any additional setting but have to separate the customer and supplier into two difference report. It’s workable but maybe a little tedious to some accountants.

How about using the class feature?

QuickBooks Online manages the class slightly different from the Desktop version. The class selection is only available for the detail line of the transaction, but not for the transaction header account such as a bank, receivable or payable. For example, you can select a class for the expense account but not the payable when entering a bill. You can have a Profit & Loss with the column by the class report, but not an accurate Balance Sheet by Class.

Consider location instead.

QuickBooks Online Location
QuickBooks Online – Location

QuickBooks introduces the location feature in the Online version to categorise the data from multiple warehouses, branches, or inter-companies. The usage is similar to the class feature, but it affects both header and detail line accounts when a location has tagged. You can prepare column by location for both Profit & Loss and Balance Sheet, which helps the accountant prepare contra during consolidation.

Try location feature if you haven’t done so. Let us know how you managing inter-company billing in QuickBooks Online 🙂

A little issue with the QBO template

Software: QBO (QuickBooks Online) Singapore

Some users have complained that the SGD Net amount in the invoice print out has somehow changed to a negative value instead of the positive value which suppose to be the same as the SubTotal.

QBO sales invoice issue

There is no workaround, but you may temporarily disable the GST Summary from the preferences while waiting for the technical team to resolve it.


How to set a custom transaction number in QBO Singapore?

Software: QBO (QuickBooks Online) Singapore

When switch from QuickBooks desktop to QuickBooks Online (QBO), you may prefer to keep the same invoice running number in the QBO as the QuickBooks desktop accounting software. QBO has locked the running number by default to prevent user from editing it, this measure is to prevent duplicate running number if user were to manually entering it.

To change the setting, you may go to the Sales Form Entry preferences and check the “Custom transaction numbers” checkbox.

QBO Singapore

Once the setting is saved, you will see an additional “Invoice no.” field appeared on the invoice transaction screen. You can amend the number. You can use Alphanumeric in the “Invoice no.” field but subjected to a maximum of 21 characters (I don’t think you will need 21 characters 🙂 )

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