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Reckon / Quickbooks – How to add % fees before the final total on an invoice in Quickbooks?

images/Client phoned.jpgClient called asking - How can they add 5% service charge fees before the final total on an invoice in Quickbooks/Reckon?

Answer -Because Reckon Accounts calculates percentages only on the line above, you must subtotal the items before entering a discount item that calculates on a percentage basis. A subtotal item is created – it totals the amounts of the items above it, up to the last subtotal. You must create a subtotal item if you ever want to apply a percentage discount or surcharge to several items.

To create the Subtotal item -

Go to the Lists menu and click Item List.

Click Item at the bottom of the list and click New.

Click the Type drop-down arrow and then click Subtotal.

Enter an item name, such as Subtotal.

Enter the description that you want Reckon Accounts to put on your sales forms when you apply the subtotal.

Record the item.

On the sales form, insert the subtotal item immediately after the items that you want to subtotal.

To automate the calculation of the discount on the subtotal –

Go to the Lists menu and click Item List.

Click Item at the bottom of the list and then click New.

In the New Item window, click the Type drop-down arrow and then click Discount.

Enter an item name, such as Discount.

Enter the Description that you want Reckon Accounts to put on your sales forms when you apply the discount.

In the Amount or % field, enter the discount amount or percentage:

If the discount is a percentage, enter the number of the discount followed by the % symbol. For example, 5% tells Reckon Accounts to multiply the previous line by .05.

(If your discount amounts vary, you can leave the Amount or % field blank and enter the amount directly on your sales forms.)

Click the Account drop-down arrow and then click the income account you want to use to track discounts you give to customers.

When an income account tracks discounts on sales, the account is often called a "contra-income" account.

Click the Tax Code drop-down arrow and choose a tax code for this item.

If you select a taxable code, the discount you specify on taxable sales is applied before the tax is calculated. If you select a non-taxable code, the discount is applied after the tax is calculated.

Click OK or click Next to create another item.

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Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
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