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BevN
July 19, 2022
Question

Assigning accounts to expenses for items

  • July 19, 2022
  • 1 reply
  • 0 views

How do you assign different accounts for expenses for a single item?     We are in the trucking industry and would like to be able to report on what type of expenses each item has.    For example, Truck 1234 has expenses for tire repair and engine repairs.     Tire repairs and Engine repairs are set up as individual expense accounts.

 

We would like to report on the P/L for each type of expense and also track the expenses for each item.

1 reply

T
Trish_T
July 19, 2022

Hi BevN,

 

Thanks for reaching out here.  It's important that you're able to record and track your expenses in QuickBooks with peace of mind.  I'd be happy to provide more information, so you're on the right track with your work!

 

QuickBooks automatically sets up your chart of accounts in accordance with your business.  However, you can add new accounts for better tracking of transactions for money in or out.  In addition, you'll have the ability to create sub-accounts to track specific accounts under the main or parent account.  Here's a helpful guide to assist you with setting up sub-accounts, for your reference.  If you require additional assistance, please reach out to your accountant for their advice and best course of action.  If you don't have one, we can help you locate a ProAdvisor in your local area.

 

If you have any other question, please don't hesitate to reach back out.  We'd love to help!

 

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