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kmquickq
Mar 21, 2019 10:33 PM UTC
Solved

Journal Entry for expenses

Hi how would I make a journal entry to record a utility expense paid in 2018 for 2019. I do not have the bank transaction because I am only starting QB from Jan 1, 2019. So I need to record the expense manually as a journal entry I guess? Normally I enter the expense then match to the bank feed.

    Answer
    Mar 21, 2019 11:12 PM UTC
    There a 3 common (and different) ways to record expenses:
    1. As a 'check' (use for both check and cash payment) - this is a one time entry.
    2. As a vendor bill - with subsequent 'vendor bill payment' by check (2 steps)
    3. As a credit card purchase - with subsequent credit card payment for all charges (1.5 steps)
    I described #1, you described #2 - choose either but not both.
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    5 replies

    kmquickqAuthor
    Mar 21, 2019 10:43 PM UTC

    I will need baby steps I assume so be gentle haha

     

    Do I go ahead and enter the expense like normal or is everything done in journal entries instead?

    Anonymous
    Mar 21, 2019 10:57 PM UTC

    Cash expenses are always entered as checks. Checks can be created manually and back dated - just dont print it. 

    kmquickqAuthor
    Mar 21, 2019 11:05 PM UTC

    So if I understand correctly I write a fake check in QB to record the payment for the expense incurred? So do I then enter the expense as I would normally do when I get a bill or receipt etc?

    Anonymous
    Answer
    Mar 21, 2019 11:12 PM UTC
    There a 3 common (and different) ways to record expenses:
    1. As a 'check' (use for both check and cash payment) - this is a one time entry.
    2. As a vendor bill - with subsequent 'vendor bill payment' by check (2 steps)
    3. As a credit card purchase - with subsequent credit card payment for all charges (1.5 steps)
    I described #1, you described #2 - choose either but not both.
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