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ThumbelinaPM
December 19, 2020
Solved

Parking ticket

  • December 19, 2020
  • 1 reply
  • 0 views

How do I record a parking ticket in QB? I thought it would be as an expense with zero vat as it is £30.00.

Should it go to Travelling expenses account? Is that where all vehicle related expenses should go? By the way I do not use the simplified method.

Thankyou

Best answer by mv32

Hello there, @ThumbelinaPM.

 

Yes, you're correct that you can record it as an expense transaction with zero VAT. You can show the parking ticket as a Travel expense because it is associated with business travel that is a subset of travel expenses.

 

Here's how:

  1. Click + New and then select Expense.
  2. Enter Payee, payment account, date, payment method.
  3. Under Category details, select Travel Expense, and then enter the £30 amount.
  4. Click Save and close.

 

For reference, you can check this article for more details: Enter and manage expenses in QuickBooks Online.

 

Also, you'll want to see how much you're paying and earning each month, run reports in QuickBooks Online.

 

If you have other questions in mind, feel free to place a comment. I'm always here to lend you a hand. Take care, and have a good day!

1 reply

M
mv32Answer
December 19, 2020

Hello there, @ThumbelinaPM.

 

Yes, you're correct that you can record it as an expense transaction with zero VAT. You can show the parking ticket as a Travel expense because it is associated with business travel that is a subset of travel expenses.

 

Here's how:

  1. Click + New and then select Expense.
  2. Enter Payee, payment account, date, payment method.
  3. Under Category details, select Travel Expense, and then enter the £30 amount.
  4. Click Save and close.

 

For reference, you can check this article for more details: Enter and manage expenses in QuickBooks Online.

 

Also, you'll want to see how much you're paying and earning each month, run reports in QuickBooks Online.

 

If you have other questions in mind, feel free to place a comment. I'm always here to lend you a hand. Take care, and have a good day!

    T
    ThumbelinaPMAuthor
    January 8, 2021

    Thank you!

    And when I add Fuel receipts as expenses am I right in allocating them  to Travelling expenses account? Same for all vehicle related expenses?

     

    PS Shouldn't I get an email when someone responds to my question as I haven't to date.

     

    Many thanks.

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