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J
JusBer
April 30, 2021
Solved

How (if possible) do I connect journal entries to Vendors so that those expenses are included in the list of transactions on the "Vendor" page?

  • April 30, 2021
  • 1 reply
  • 0 views
I've had to pay for expenses with personal funds. QuickBooks won't allow me to use an equity account to pay for an expense, so I'm forced to enter an expense as a journal entry. Unfortunately, it appears that journal entries do not show up in the list of transactions associated with specific vendors. I'm also starting to wonder if transactions included in journal entries are not included in the "Profit
Best answer by Rustler

Journal entries do not show in some reports, it is best to avoid them

 

as far as paying for a bill using equity, there are steps to it
deposit the personal funds to a cash type bank account and use owner equity investment as the source account for the deposit
then pay the bill using the cash account

1 reply

Rustler
RustlerAnswer
May 1, 2021

Journal entries do not show in some reports, it is best to avoid them

 

as far as paying for a bill using equity, there are steps to it
deposit the personal funds to a cash type bank account and use owner equity investment as the source account for the deposit
then pay the bill using the cash account

    J
    JusBerAuthor
    May 3, 2021

    Thank you, Rustler!

     

    For anyone else interested in what this process looks like, here is a step-by-step of Rustler's instructions, as I did them (and it appears to have worked out okay).

    Step 1: create the proper account.

     

    Step 2: create a new "Bank Deposit" from the menu.

     

     

     

     

    Step 3: enter the deposit information.

     

     

    Step 4: create your expense, charging from the "Cash on hand for Owner's Equity" account.

     

     

    Edited to so that the image says to make sure you are depositing into the correct account (rather than the "wrong account").

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