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Quickbooks - Customer and Vendor?

(4 posts)

  1. sBiz101

    member
    Joined: Oct '09
    Posts: 44

    Reputation:83
     

    I've got a small business question. I'm using Quickbooks Pro 2007 accounting software to do my bookkeeping, and I can't seem to figure out how to make a company both a customer and a vendor.

    For example, I might be making purchases from a software company, in which case they would be categorized as my vendor. However, recently I've started doing affiliate marketing for them (selling their products and receiving a commission), in which case they would be my customer. However, I Quickbooks makes me choose one or the other.

    How do I go about assigning a company as both customer and vendor. Should I simply list it once as an "other" account?

    Posted 2 years ago #


  2. Posted 2 years ago

  3. cwd

    senior admin
    Joined: Jul '09
    Posts: 225

    Reputation:244
     

    That's a great question. We're not accountants, but what we do is add a "-V" to the one that's a vendor. So, for example, if "Blue Gadgets Inc." is your "customer" account, then you could make "Blue Gadgets Inc.-V" your "vendor" account.

    Bottom line is they should have a different name so Quickbooks can distinguish between the two. How you actually name them is up to you (ie. you could name the company "Blue Gadgets Inc. Vendor" as well, for example).

    Posted 2 years ago #

  4. Anonymous



    That's very nice answer let me tell you that quickbooks hosting offers the best security to your data online see this http://www.novelaspect.com/blog/5-ways-to-ensure-quickbooks-hosting-is-secure if you have any doubt.

    Posted 1 year ago #

  5. Anonymous



    Posts: 1

    Reputation:1
     

    I've got non-profit question. I am the treasurer of my church - I know next to nothing of quickbooks - and our minister is the one that enters and maintains the data in quickbooks. We sold the building and want to know how to enter the sale's proceedings into quickbooks. I think should be handled as the sale of an asset.

    Any ideas?

    Posted 7 months ago #

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