How do I enter a LOE into the software?

How to enter a deficit statement received from a purchaser

Step 1: Enter all revenue from statement using the Production Receipts screen. Do not enter any expenses from the deficit statement on the Production Receipt. Allow the receipt to post to QuickBooks.

Step 2: Enter all expenses from the statement using the Enter Bills screen. Allow the bill to post to QuickBooks.

Step 3: In QuickBooks, go to the register for the bank account used on the Production Receipt in step 1. Double-click on the journal entry recording the deposit of the revenue from the deficit statement, so that the journal entry is opened, and can be modified. In the journal entry screen that opens (Make General Journal Entries), change the account being debited from the bank account to the Accounts Payable account. You may want to enter a memo noting that this revenue was applied to expenses, and then choose correct Vendor in the Name column instead of the Purchaser/Customer:Job that is currently selected. Click Save and Close when finished. This will remove the amount from your bank account balance, and will create a credit for that vendor in the Accounts Payable.

Step 4: When you are ready to pay the amount owed to the vendor on the deficit statement, open the Pay Bills screen in QuickBooks. Select the bill to be paid, and then click the Set Credits button. This will allow you to see the credit amount of the revenue that was applied to your expenses. Click Done when the credit has been selected, and you will then notice that the amount due on the bill will be reduced by the amount of the credit that was applied. Proceed with paying the bill.

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