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L
lisa-2i-t-com
March 19, 2025
Question

Expenses imported automatically - accrual method

  • March 19, 2025
  • 1 reply
  • 0 views

When my bank & CC company imports the expenses, they are being imported in with the posted date - not the actual payment date. Since we are doing the accrual method, should the charges should be recorded as actual date of purchase for the payment date? If so, how do I get the automatic import to capture that date? Thanks!

1 reply

A
ArielI
March 19, 2025

I appreciate you for sharing this matter in the Community, Lisa. In accrual accounting, expenses are recorded when they are incurred, not necessarily when they are paid. Let me help clarify how this works.

 

For example, if you purchase office supplies on September 25th but the charge only posts to your account on September 30th, the expense should be recorded on September 25th.

 

As for the automatic import of transaction dates, QuickBooks Online (QBO) relies on the data provided by your bank or credit card company. Therefore, any adjustments to ensure that the actual purchase dates are captured and imported accurately would need to be addressed by your financial institution. I recommend reaching out to your bank or credit card company to discuss your specific needs.

 

I also recommend reaching out to QuickBooks Live Expert Assisted team, they are also available in case you need help with the accrual method and can help you with any QuickBooks concern.

 

I'll include these articles that can guide you in categorizing and matching your transactions in QBO:

 

 

Let us know if you have further questions about the accrual method in QBO. We'll be right here to help you anytime.

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