Sale of customer consulting salaries

To record the sale of customer consulting services (salaries) in QuickBooks, you should create an invoice to bill your customer for the consulting services and then track the income received. Here’s a step-by-step guide on how to do this:

1. Set Up an Income Account:
   • Go to the “Lists” menu and select “Chart of Accounts.”
   • Click “Account” at the bottom and choose “New” to create a new account.
   • Select “Income” as the type of account and name it something like “Consulting Services Income.”
2. Create an Invoice:
   • Go to the “Customers” menu and select “Create Invoices.”
   • Choose the customer or client who received the consulting services.
   • In the “Item” column, select the consulting service provided.
   • Enter the amount of the consulting services in the “Rate” column.
   • In the “Tax” column, select the appropriate tax code if applicable.
   • Save the invoice.
3. Receive Payment for Consulting Services:
   • After issuing the invoice, receive payment for the consulting services from your customer.
   • Go to the “Customers” menu and select “Receive Payments.”
   • Choose the customer and locate the invoice you created for the consulting services.
   • Enter the payment amount and payment method.
   • Click “Save.”
4. Track Consulting Services Income:
   • You can track the income from consulting services you’ve received in QuickBooks’ various reports. Go to the “Reports” menu and explore reports such as the Profit and Loss statement, Sales by Customer Detail, or Sales by Product/Service Detail to monitor your income from consulting services.
5. 1099 Reporting (if applicable):
   • If you are subject to IRS Form 1099 reporting, ensure you have the necessary information for reporting your income, which may include your Tax ID or Social Security Number.

By following these steps, you can accurately record and track your consulting services income in QuickBooks. Always consult with a certified accountant or tax professional to ensure that you are handling income, taxes, and financial matters in accordance with local laws and regulations. Additionally, QuickBooks may have undergone updates or changes since my last knowledge update in September 2021, so it’s a good idea to refer to the latest QuickBooks documentation or reach out to their support team if you have any questions or need assistance with specific features or issues.

Bid farewell to payroll headaches and embrace peace of mind with our specialized bookkeeper for small business. We handle all aspects of payroll, from calculating wages to tax compliance.