It requires that R&D generally be expensed as incurred now. So, in QBO, it should be considered an Overhead Expense, not Direct Cost or COGS. How to set up R&D as Overhead (O/H) in new QuickBooks Online? Figure out the main primary operating costs for R&D and categorize expense type. In QBO chart of accounts… Continue reading In Chart of Accounts I do not see any that’s fit for R&D. Which account detail type do I enter our R&D expenses in new QuickBooks Online?
In QBO, they have “Pre-fill forms with previously entered content” rather than specifically selected expense accounts to Pre-fill like in QB desktop version. From home page screen, select Company Gear (top upper corner) Select Company Settings under Settings Select Advanced Select Automation Select Pre-fill forms with previously entered content Double click to edit “Pre-fill forms… Continue reading How to automatically recall expense account when writing check?