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StrugglingUser
September 29, 2022
Question

vendor account set up

  • September 29, 2022
  • 1 reply
  • 0 views

The 1st thing I'd like to accomplish with Quickbooks is to keep track of my expenses. I need to set up my expense accounts. For example, I have utilities for two commercial buildings, a rental residence and my home office. I need each utility connected to the appropriate location that generated the expense. What is the best way to accomplish?

1 reply

G
Giovann_G
September 30, 2022

Hello, StrugglingUser.

 

The best way to accomplish this is to create an expense account and then use location tracking to associate the transaction with the appropriate location. I'll show you how.

 

Create an expense account:

 

  1. Go to the Gear account, then select Chart of accounts.
  2. Click New, then choose the best category for the new account.
  3. From the Save account under dropdown choose an account type.
  4. In the Tax form section dropdown, select the detail type that fits the transactions you want to track.
  5. Enter your desired name in the Account name field.
  6. Enter a description in the Description field. Optional.
  7. Once done, hit Save.
  8. Repeat the same process for the other vendor account.

 

Once done, you can use location tracking to categorize the transaction from different locations. Check out this article for more details: Set up and use location tracking.

 

I also suggest reaching out to your accountant. They might have other ways to track your expenses.

 

I've added this resource to help you if you want to run financial reports to see how your business is doing: Run reports in QuickBooks Online.

 

You're welcome to post again if you have further questions about managing your accounts or transactions. Have a great day.

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