Each quarter Murph and I co-host the QB Talks QUARTERLY-UPDATE webinar. We talk about all things new during the last quarter about QuickBooks Online and the QBO Ecosystem. This gives everyone who has been busy over the past few months a chance to catch up on any major or minor tweaks to QuickBooks.
This month during the webinar, we were asked a great question by one of those attending. There was a lot of interest in the answer to the question so I am posting both the question and the answer here. The Question being: "How do I close Billable Expenses?"
The question was related to cleaning up the Chart of Accounts. As a company ages and grows their bookkeeping systems ages and grows too. All of these changes can create a messy clean up. While cleaning up the chart of accounts, you might find you need to clear unbilled charges before you can make the account inactive. Clearing each of these transactions can be time consuming. Good news, there’s a trick to managing all the open billable expenses at once!
How do I close Billable Expenses?
Ready for an easy answer? There is a hidden URL. By changing the QuickBooks Online URL, a secret dashboard is generated which allows you to select a date range to mark all billable expenses as closed. Awesome, right?
Here’s how you can do it!
1) Open your QuickBooks Online file
2) Go to the Dashboard (Home Page)
3) Edit the URL by removing the /homepage and adding /managebillableexpense
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4) Enter the date of the transactions you wish to remove the billable status through. For example, to remove all 2018 unbilled charges, enter a date of 1/1/2019. Everything prior to that date will be closed.
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If you are not sure if you have unbilled charges, here’s two ways to check if you have charges which need to be cleared out.
Run an Unbilled Charges Report
1) Go to the Report Center
2) Under the report heading “who owes you”
3) Select Uninvoiced Charges Report
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4) Customize report, as needed.
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Use the Money Bar in the Sales Center
1) Go to the Sales Center
2) Select Customers
3) View Unbilled Activity in the Money Bar
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For more good tips be sure to sign up for the upcoming QBTalks webinars.