QuickBooks will then display an Open Purchase Order window displaying all of the PO’s that I have with this specific vendor.Type in the Vendor Name (QuickBooks will tell you that you have Open Purchase Orders for this Vendor and if you want to receive against one or more of them – click the Yes button).You also have to Enter Bills against existing Purchase Orders correctly. Just setting up your Purchase Orders isn’t all there is to it. Right click to enlarge this image Tips for Entering Bills against existing Purchase Orders Once we’ve recorded this Purchase Order, this is how it appears in the Open Purchase Order by Job Report. Use the Memo field to type in the Cost Code/Item and Job Name (this will help you select the right Purchase Order when entering bills)īelow is a sample of a correctly setup and issued Purchase Order.ALWAYS enter a Quantity – using Quantities provides you with an accurate Open Purchase Order by Job Report (if you have a subcontractor who provides you with a flat rate of say $10,000.00 without a quantity – in the Quantity Column enter 10,000 and in the rate column enter $1.00).Try to issue Purchase Orders by Job (even though you may have several jobs that use the exact same Cost Code/Item for a specific Vendor).Tips for effectively using QuickBooks Purchase Orders Having said that, you do have to use the QuickBooks Purchase Order function correctly and there are several pitfalls that can happen, that you will want to avoid. Both very valuable pieces of information. Using Purchase Orders in QuickBooks can help you to ensure that your Subcontractors or Material Suppliers do not charge you more than what they originally quoted you for a price and the Open Purchase Order by Job Report can help you to see how much in committed costs there are left on your jobs. Purchase Orders can also be customized and used to record a verbal bid for materials from a supplier as well as using them to create an Invitation to Bid, which will ultimately be sent to several subcontractors at once. Using Purchase Orders and running the Open Purchase Orders by Job report in QuickBooks are excellent tools for General Contractors as well as Subcontractors who sub out a portion of the job to someone else.
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