17 - PTP004 QBO USER MANUAL - Processing Receipts and Billing For CAPEX Purch PDF

User Manual Internal Restricted
HG MGT. CONSULTING
AND ACCOUNTING
SERVICES
Quickbooks Online (QBO)

PROCESSING Receipts and Billing for CAPEX PURCHASES
User Manual
PTP004 QBO USER MANUAL - Processing Receipts and Billing for CAPEX Purchases v0.01.docx | Page 1
Document Control
Change History
Version Date Author Revision Notes
0.01 05/16/2019 Willy A. Gagarin/Louie Habitan Initial Draft
Distribution List
Name Title Reviewer / Date
Approver
Process Owner
Name Title
Table of Contents
Document Control ................................................................................................................. 2
Change History ................................................................................................................ 2
Distribution List ............................................................................................................... 2
Process Owner................................................................................................................. 2
Recording Receipt and Invoicing of CAPEX Purchases ........................................................................ 4
A. One-Time Payment ..................................................................................................4
1. Recording receipts and billing for credit Purchase with one-Time Payment ............................... 4
1. Recording of Down-payment ......................................................................................... 8
2. Processing billing for the unpaid portion........................................................................ 12
Recording Receipt and Invoicing of CAPEX Purchases

Purpose The purpose of this document is to provide step-by-step instructions on how to process receiving and Invoicing of acquired
depreciable Assets using Quickbooks Online.
Pre-Condition The processor should have provided appropriate user rights.

Rules The following rules, conditions and/or compliance obligations apply to this instruction:
• The processor should be able to login successfully to Quickbooks Online
• All Masterdata and set up related to the transaction to be processed should already be maintained
Responsibility Finance
A. One-Time Payment
1. Recording receipts and billing for credit Purchase with one-Time Payment
1.1 a. Go to Quick Create icon > Bill
1.2 Assign the following:

a. Supplier
b. Terms
c. Bill date
Note: The Due date will be automatically

calculated by the system based on the Bill
date and payment term.
1.3 Select from the list of Open PO
1.4 a. Assign Bill no.

b. Select location branch (i.e. Head Office)
c. Select from choices, whether the billing
amounts are:
1. Exclusive of Tax
2. Inclusive of Tax
3. Out of Scope of Tax
1.5 Check the captured PO line items under the

Category Details If no product/service
master was created for the acquired asset.
1.6 Check the captured PO line items under the

Item Details If a product/service master
was created for the acquired asset as was
selected and assigned during PO creation.
Note: Please refer to the Product/Service

masterdata creation on how to create a
Product master.
1.7 a. Enter the Amount

b. Enter the corresponding tax code (this is
not applicable if the billing amount is
Out of Scope of Tax)
EI – VAT Exempt
I0 – Zero-rated
I1 – 12% VAT on Goods
I2 – 12% VAT on Service
1.8 a. Click the Save button.
1.9 a. To review the posted accounting entry,

click More at the bottom of the screen,
and select Transaction journal.
B. With Multiple Payment Terms

1. Recording of Down-payment
1.1 a. Go to Expenses > Suppliers
b. Select a Supplier
1.2 On the right side of the screen, under the

ACTION column, select Create bill
1.3 On the Bill header screen, enter the

following:
a. Terms
b. Bill date
Note:
The due date will be computed
automatically by the system based on the
assigned Terms and Bill date.
1.4 On the right side of the Bill screen, enter the

following:
a. Bill No.
b. Location (as needed)
c. Amounts are, Exclusive of Tax
1.5 Select Open PO from list on the right side of

the Bill screen.
1.6 On the details side, enter the following:

a. Depending on what details used in PO,
the items purchased can either be at the
Category Details or Item Details.
b. In the Category column under the
Category details, select GL account
Advances to Suppliers.
c. Delete the amount and Tax code
assigned in the line item captured from
PO.
d. Assign the down payment amount under
the line of Advances to Suppliers.
e. Enter the applicable tax code.
1.7 b. Click the Save button.
1.8 b. To review the posted accounting entry,

2. Processing billing for the unpaid portion

2.1 c. Go to Expenses > Suppliers
d. Select a Supplier
2.2 On the right side of the screen, under the

ACTION column, select Create bill
2.3 On the Bill header screen, enter the

following:
c. Terms
d. Bill date
Note:
The due date will be computed
automatically by the system based on the
assigned Terms and Bill date.
2.4 On the right side of the Bill screen, enter the

following:
d. Bill No.
e. Location (as needed)
f. Amounts are, Exclusive of Tax
2.5 Select Open PO from list on the right side of

the Bill screen.
2.6 On the details side, enter the following:

f. Depending on what details used in PO,
the items purchased can either be at the
Category Details or Item Details.
g. The Advances to Suppliers line will be
included along the line items called from
PO. Assign negative numerical sign to
make a negative entry for the down
payment; thus, closing the first entry for
the advances.
h. Enter the applicable tax code.
2.7 c. Click the Savebutton.
2.8 d. To review the posted accounting entry,


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User Manual Internal Restricted

Quickbooks Online (QBO)

Recording Receipt and Invoicing of CAPEX Purchases

Pre-Condition The processor should have provided appropriate user rights.

1.2 Assign the following:

Note: The Due date will be automatically

1.3 Select from the list of Open PO

1.4 a. Assign Bill no.

1.5 Check the captured PO line items under the

1.6 Check the captured PO line items under the

Note: Please refer to the Product/Service

1.7 a. Enter the Amount

1.8 a. Click the Save button.

1.9 a. To review the posted accounting entry,

B. With Multiple Payment Terms

1.2 On the right side of the screen, under the

1.3 On the Bill header screen, enter the

1.4 On the right side of the Bill screen, enter the

1.5 Select Open PO from list on the right side of

1.6 On the details side, enter the following:

1.7 b. Click the Save button.

1.8 b. To review the posted accounting entry,

2. Processing billing for the unpaid portion

2.2 On the right side of the screen, under the

2.3 On the Bill header screen, enter the

2.4 On the right side of the Bill screen, enter the

2.5 Select Open PO from list on the right side of

2.6 On the details side, enter the following:

2.7 c. Click the Savebutton.

2.8 d. To review the posted accounting entry,

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