Upon completion of this lesson, you will understand how to enter aircraft expense checks and add the corresponding charges to the owner statement.
If writing checks to an FBO, you have the option to use our Expense check screen, which will record the check with the appropriate expenses as well as give you the ability to generate the owner transactions - combining multiple transactions into a single process for improving efficiency and accuracy.
1. To get started, go to Billing Admin >> Owner Trans >> Expense Checks.
2. From the Expense Check screen, click on the link labeled "-Add New Check-" to start the entry of a new check.
3. Next, fill out the check. Select the vendor to be paid. If paying an FBO for fuel, select the name of the FBO. If the vendor does not exist, you can select "-Add Vendor-" from the list to add a new vendor. Enter the check number, check date (which used used as the date for the owner transactions), and the memo.
4. Next, enter the line item details. You can select an item (which will default the description, rate, and account) or leave the item unselected and enter all other fields. If you need to enter additional lines, click on the link just under the box labeled "Add line item to check." When you are done entering the check, click the "Save Check" button.
5. This will return you to the list of checks with the new check added to the list. Click the "Select" link to see the list of actions, which are links across the top. As you can see by the existence of the edit link, the check can still be edited. Checks can be edited or deleted any time before the owner transactions are created.
6. Owner transactions can be created immediately after the check is entered. Or, they can be done at a later time (e.g. in a monthly process). Any time after you have verified that the check was entered correctly, you can click on 'Create Owner Trx'. This will generate the owner statement transactions. If you would like, you can check one of the owner statements to verify that the expected charges were added to the owner statement.
7. Optional Quickbooks download: Creating the owner transactions for the check will also create a separate download batch for each check. The bank transactions for the check as well as the income/expense transactions related to the owner statements can be downloaded to Quickbooks for bank account reconciliation and management reporting.