Categories
Expense Expenses

How do I enter historical expenses (already paid for) for 2013 to get started in new Quickbooks Online?

Expense Check
Expense Check

In order to enter historical expenses, stay with these two specific forms:
Click “+” plus icon > select “Expense” under Vendors menu
Click “+” plus icon > select “Check” under Vendors menu

Expense Form:

You can use this form to enter Debit card, ATM Card, EFT, Wire transfer or any banking related withdrawals or charges (except checks)

Choose a payee or vendor’s name > select bank name account > select Expense Date (example if the charges were for 3/1/2013, enter the same way , not today’s date >>> VERY IMPORTANT since you are entering historical charges) > select Account category > Enter Amount > Save
NOTE: You can also use this form to enter Credit Card charges as well. Just select credit card account (open add new if needed)

Check Form:

Same way like above except, enter actual Check Number rather than Reference Number.
Once again, key here is to carefully select accurate expense date since you are entering historical transactions. You can use Expense date as posted on the bank statement.

Categories
Expense Expenses QBO Reports Transactions

QuickBooks Online – How to enter various expenses in QBO?

The tutorial video below explains how different expense transactions are entered in QuickBooks Online. It is a step-by-step process of learning how to enter expenses in QBO. This is probably the best in-depth video that covers vendor expenses in QuickBooks Online. I highly recommend you to watch it.

 

Let me summarize the content of this video:

  • It explains how to enter expenses like debit card, credit card, ATM, cash withdrawal, bank fee, wire transfer, write check, enter Vendor Bill to pay later as A/P, Pay Bill by the Check and create Purchase Order and more.
  • It explains how to set up and enter billable charges to customers.
  • It explains how to set up and enter expenses by class tracking and location tracking.
  • Lastly, it explains how these entered expenses will show up on various financial reports.

Click on the screenshot below to enlarge it
vendors

 

#QuickBooks Online

 

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