Skip to main content
P
PJP1
October 8, 2024
Question

Adding expenses to a project

  • October 8, 2024
  • 1 reply
  • 0 views

There is a really long story behind this, but to keep it short, I need to be able to add expenses to our projects, so that we can track all of the costs for a job.  However we didn't start using QuickBooks until the middle of some of our jobs.  How can I add expenses to these projects where they came from 2022 and before and the information going into the books was not started until 2023?  One point of clarification, we run on a fiscal year that ends in September.  I was able to enter the expenses for the projects before October 2022 as beginning balance, but now I need to add some expenses for the 22-23 tax year that the bookkeeper who set up our books left out.  what would be the best way to do this?  

1 reply

G
GenmarieM
October 8, 2024

Thank you for that detailed information, PJP1. Adding expenses to your project can be challenging but don't worry I'll be here to help you all throughout the process.

 

You mentioned that your fiscal year will end in September, what you'll need to do if you already closed the book is to open it again add the expenses from year 2022. However, your reconciled will be affected. In that case, you'll need to undo the reconciliation. 

 

Here's how:

 

  1. Go to the Transactions menu.
  2. Hit the Reconcile tab.
  3. Click History by account.
  4. Choose View Report to open the Reconciliation Report.
  5. Review any discrepancies and changes your client wants to make.
  6. Click the dropdown in the Action column, and then select Undo.

 

After that, you can redo the reconciliation process. However, before you undo the reconciliation, I suggest reaching out to your accountant for the accuracy of your books. If you're not associated with one, feel free to visit our ProAdvisor page to look for an accounting professional near your area.

 

Thank you for reaching out, @PJP1. I hope the information and steps above have helped you adding your expenses to a project using QuickBooks Online. If you have further questions or concerns, please don't hesitate to post a reply. Our team is available to help and looks forward to assisting you further.

Terms & ConditionsAccessibility statement