A.1.7b Invoicing a Billable Expense with Markup | Scribe

    A.1.7b Invoicing a Billable Expense with Markup

    • 23 steps
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    Start in the Sample company.
    1
    To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.
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    Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm.
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    Now let's get started with the exercise. First, you will need to turn on Markup. This is the amount Craig will charge over and above what he paid for the item(s).
    2
    Click the gear icon, then select "Account and settings".
    3
    Click the "Expenses" tab.
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    Click into the Bills and expenses section to make it editable. Click the checkbox next to "Markup with a default rate of", then type "10" in the percentage field.
    5
    Click "Save".
    6
    Click "Done".
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    Now that Markup is set up, it's time to record the original purchase from Tim Philip Masonry.
    7
    Click the "+New" button, then select "Expense".
    8
    In the Payee field, select "Tim Philip Masonry".
    9
    If you are completing this exercise in a **new** session of the Sample company, click "Add" to add the previous Purchase Order to the expense. If you are in the **same** session of the Sample company as the [previous exercise](https://scribehow.com/shared/A17a_Invoicing_a_Billable_Expense__pEIAoG5RSmC94MhT-WBBaQ), the Rock Fountain will already be populated from the previous exercise, so you can proceed to Step 10.
    10
    On the Rock Fountain line, in the "Billable" field, click the checkbox. *Note you may need to click into the field for the checkbox to appear.*
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    Notice that the markup percentage was automatically calculated at 120%. This comes from the Products & Services table for this item.
    11
    On the same line, in the Customer field, select "Kate Whelan".
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    Next, we will record the purchase of the Cherub. Since this is not a regular item that Craig buys and sells, it will not be in the Products & Services list, and therefore, not be available in the Items grid. You will use the Category details grid for this instead.
    12
    In the Category details grid, on the first line in the Category field, select the Expense account, "Fountain and Garden Lighting". *Note that there are two similarly named accounts. Be sure to use the one without the "s" in Fountain, as this is the expense account. If you accidentally use the similarly titled income account (Fountain**s** and Garden Lighting), you will receive an error message.*
    13
    In the Description field, type "Cherub".
    14
    In the Amount field, type "100".