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tom6
Oct 16, 2018 12:16 AM UTC
Solved

Should every expense have a Payee?

Does every single expense need a Payee? If I go on a biz trip to NYC and get a hotdog from a food truck that I'll never visit again, do I really need to create a Vendor for that? I know the Payee field is not required but I'm curious about best practices. Thanks!

    qbteachmt
    qbteachmtAnswer
    Oct 16, 2018 12:16 AM UTC

    I teach this as:

    Use generic names, such as Misc Food. Use this on Cash transactions and credit card transactions, rather than adding every possible name to the data file.

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    4 replies

    qbteachmt
    qbteachmtAnswer
    Oct 16, 2018 12:16 AM UTC

    I teach this as:

    Use generic names, such as Misc Food. Use this on Cash transactions and credit card transactions, rather than adding every possible name to the data file.

      tom6Author
      Oct 16, 2018 12:16 AM UTC
      Nice. I was thinking this but then thought it might be a total hack job, so glad to hear others do it!
      arkvalleyinfo
      Oct 16, 2018 12:16 AM UTC

      Hey Tom!

      That's a great question! The answer depends on how you want to keep your books. QuickBooks Online is capable of doing either way. I would really recommend talking to your accountant! If you don't have an accountant, we do have ProAdvisors that are certified in QuickBooks! To find a ProAdvisors near you, please go here!

      Please let me know if you have any other questions!

      Empower Plumbing
      Sep 19, 2019 2:25 AM UTC

      I don’t believe every Expense should have a payee.  As a business owner you are trying to show where the money went, you may have to go to a supermarket to get a package of printer paper because, Office Depot is out.

      Or go to an automotive store to help you finish the task at hand… Whatever it takes to get the job done

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