QuickBooks can handle just about anything that you throw at it, but it’s not always intuitive how to do so. One of those areas is the two-party check. Last week, the Sleeter Group Blog gave us a look at how to receive a two-party check in QuickBooks.
Two-party checks are common in construction, but less so in other industries. Generally, it’s when a customer needs to pay a contractor as well as a supplier of materials or a subcontractor. The point of the two-party check is to get the supplier paid in a timely fashion, and to create a direct link from the job to the supplier. They’re also used to keep suppliers from filing liens when a contractor doesn’t pay a supplier.
Check out the post to find out how to handle these in QuickBooks.