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32SNT23
January 6, 2022
Question

How can I record other countries' bank accounts to make sure the business expenses?

  • January 6, 2022
  • 1 reply
  • 0 views

I know as I am using the US QuickBooks Self-Employed, I cannot connect to my other countries' bank accounts. I already sent a request for these accounts to connect, however, if the request is not approved then how can I record the business expenses paid on non-US banks or credit cards? 

1 reply

AlcaeusF
AlcaeusF
January 6, 2022

Hello @32SNT23,

 

Welcome to the Community. I can share information about how you can record the business expenses in QuickBooks.

 

Currently, the option to record business expenses from non-US banks or credit cards is unavailable. As of now, Self-Employed only supports the same region account and currency.

 

You have two options to handle these transactions. You can either search for a third-party app that helps with the categorization or upgrade to QuickBooks Online (QBO).

 

Though we can't suggest which app is best to use, you can check out this thread for some recommendations from Fiat Lux - ASIA: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/is-it-possible-to-issue-an-invoice-in-a-different-currency/00/867831.

 

In case you want to upgrade to the Online version, please refer to the detailed steps in this link: Switch from QuickBooks Self-Employed to QuickBooks Online.

 

I've also attached an article you can use to know more about how the Multi-currency feature works in QBO: Learn about Multicurrency in QuickBooks Online.

 

Hit me up by clicking the Reply button if you have any questions about QuickBooks Bank Feeds. I'll be happy to help you some more.

3
32SNT23Author
January 9, 2022

@AlcaeusF 

>You have two options to handle these transactions. You can either search for a third-party app that helps with the categorization or upgrade to QuickBooks Online (QBO).

 

Would it be a problem if I just put the amount of expense manually? I know this would be recognized as cash.

Rose-A
Rose-A
January 9, 2022

Thanks for getting back to us, 32SNT23.

 

It wouldn't be a problem if you enter the amount manually. You can follow the steps below on how to enter a transaction in QuickBooks Self-Employed:
 

Here's how to enter a transaction:
 

  1. Click Transactions in the left panel and tap Add transaction.
  2. Enter a description, amount, and date.
  3. Select a category.
  4. Hit Save.

 

You can take a look at the following article. This will provide you lists of categories to help guide you in tagging or categorizing your transactions as well as organizing them accurately in QuickBooks: Updates to expense categories in QuickBooks Self-Employed.

 

Additionally, you can visit the following write-up regarding how Schedule C categories show up on your financial reports: Schedule C and expense categories in QuickBooks Self-Employed.

 

You can get directly in touch with me if you have additional questions about QuickBooks Self-Employed.

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