% of a check

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 ? 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

Reply to
drew.laura
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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.

Reply to
Allan Martin

you are right about Quciken.

Reply to
Gil Faver

so, as I am reading this right ....the answer is NO? sorry, I really don't know anything about accounting and its terms. sorry.

Reply to
drew.laura

Yes, you are reading it correctly.

Quickbooks will not automatically calculate and enter percentages and splits between multiple accounts.

Reply to
Lisa C

well, its really just in one 'account' a bank account. The thing we are trying to do is split the catagories into %. Seems very simple. hmmmm

Reply to
drew.laura

yes, but when you buy software to help automate, you would like it to help automate.

Reply to
Gil Faver

Exactly....I would think it should be able to do this....I don't think this is an uncommon thing. bummer that it can't do it. thanks anyway. Laura

Reply to
drew.laura

You don't give up do you.

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Reply to
Allan Martin

True but when one realizes that each user has their own wish list for features they would like to see in software that list starts to get very large.

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Reply to
Allan Martin

QB is a double-entry accounting system. By definition each entry always affects MORE THAN ONE ACCOUNT.

You are thinking in QUICKEN terms. Quicken 'categories' DO NOT EXIST in QuickBooks.

Reply to
Lisa C

Not giving up is admirable.

Not understanding the basic terminology of the software you want help with.... well, that is less admirable.

Reply to
Lisa C

Reply to
drew.laura

I understand. There are various parts of no that are difficult to understand :)

Reply to
Allan Martin

given the wide variety of responses available on the internet, including correct, incorrect, misinformed, and just plain snotty, it often pays to be persistent.

Reply to
Gil Faver

You did not offend me. I am very sorry if I offended you.

Reply to
Lisa C

Laura, I learned a lot on this list as there are very many helpful posters. One of the very first things was to put a Kill Filter on Allen. Unfortunately, he does bait enough people to react to his posts so you will see that he has posted something. In that case, the delete key works wonders.

Reply to
Arno Martens

Best advice yet. I added Captain Enron to my killfile shortly after I bought QuickBooks. It's been peaceful ever since.

Bob

Reply to
RobertM

Your bank account is one of many accounts associated with your company's bookkeeping. Paying bills takes money out of the bank account and puts it into an expense account (what you're calling categories).

-- Tara

Reply to
scfundogs

Maybe processing isn't a large part of your duties but if it is then you may want to rethink finding ways to lessen the amount of work you have to do...job security is a good thing Just a suggestion.

-- Tara

Reply to
scfundogs

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