Our company pays the utility bill for ourselves and two additional suites in the building. The other two companies agreed we would pay the total bill and bill them for their portion. How do we create an invoice in QuickBooks to give to them monthly and how do we show this an a non-income, non revenue item in QuickBooks?

ANSWER

The BIDaWIZ Team's Answer:

Going forward, you should request that the other two companies pay their share of the utilities when it is due. For now, we would recommend that you set up a due from account in QuickBooks for the amount of the bill you are paying on behalf of the other two companies. For instance, set up a due from account for the other two companies in the asset section of the chart of accounts. As you pay the utility bill, the portion that is attributable to the other companies should go on the the due from account when allocating the utility invoice and the utility expense account would be adjusted accordingly. As the other companies pay you back, it will be reversed.