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PPP 12
March 8, 2021
Question

Question about Expenses

  • March 8, 2021
  • 1 reply
  • 0 views

Just wondering if anyone might have an answer to my question! 

I'm a small business accountant, fairly new to Quickbooks. 

 

I've noticed that when a business expense (such as a check) is entered, it does not subtract the total from my current amount in Quickbooks. I understand why it isn't subtracted from my bank account, but would love to know if there is a setting to activate that would allow any expense total to be subtracted from the total in Quickbooks, despite if it has cleared my account or not. Please let me know if there is a solution to my problem!! 

1 reply

M
MadelynC
March 8, 2021

I’m glad to share some information with you concerning expenses in QuickBooks, @ppp11.

 

When recording expense transactions in QuickBooks Online, you’ll want to make sure the bank account and the expense account are affected. That way, the program will automatically subtract the amount from the total in QuickBooks.

 

You can open your created expense transaction and check the account selected. I’ll show you how:

 

  1. Go to the Expenses menu from your left pane.
  2. Under Expenses, locate the said event.
  3. You can use the Filter option to search them easily.
  4. Click the View/Edit link.

 

On the other hand, if you’ve created a bill, then you’ll need to utilize the Pay bills option to enter the payment so the amounts will reflect in your bank register. Here are the steps to do it:

 

  1. Select the +New button.
  2. Click Pay bills under Vendors.
  3. Choose the appropriate account.
  4. Select the entry.
  5. Press Save.

 

Here’s a reference for additional information on how to enter and manage expenses in QBO. It has complete instructions to record, edit, and even deleting them.

 

Don't hold back to drop a comment below if you have other questions about the expense. It's my pleasure to be of great help. Take care!

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