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January 28, 2024
Question

How i do i show in quick books an expense for buying a tools for my company and showing it in quick books with receipt

  • January 28, 2024
  • 1 reply
  • 0 views
also add a fuel receipt and show it as an expense

1 reply

AlverMarkT
January 28, 2024

Welcome to the QuickBooks Community, Christopher. 

 

I can help record an expense for buying tools for your company and add a fuel receipt as an expense in QuickBooks Online (QBO). 

 

First, you can consider manually creating an Expense or a Cheque if you've used a cheque in purchasing the company tools and fuel. Here's how: 

 

  1. In your QBO account, click on the + New icon.
  2. Select Expense or Cheque.
  3. In the Payee field, enter the store or vendor from where you purchased the tools.
  4. Select the Payment account from which the purchase was made.
  5. Fill in the payment date and the payment method.
  6. Under the Category column, 
    a. For the company tools, select the account that best describes the type of tools purchased (e.g., Tools and Equipment).
    b. For the fuel expense, select a more suitable category.
  7. If the tool purchase includes Value Added Tax (VAT), ensure you select if the amount is Exclusive of Tax or Inclusive of Tax and choose the correct VAT code.
  8. Provide a Description. Then, hit Save and close.

 

Next, here's how you can attach the receipt for the fuel expense:

 

  1. In the Expense or Cheque window, scroll down and click on the Paper clip icon.
  2. Please ensure that the receipt is in PDF, JPEG, JPG, GIF, or PNG format.
  3. Find the receipt and upload it.

 

Alternatively, you can consider uploading your receipt or bill to QBO for the software to extract the information and create a transaction for you to review. You can then edit the receipt or bill, add it to an account, or match it with an existing transaction in the Receipts tab. For more details about this, please refer to this article: Upload your receipts and bills to QuickBooks Online.

 

Once you're done with recording these expenses, you can then categorise and match bank transactions in QBO

 

We'll be on the lookout for your reply if you need further assistance recording expenses in QBO. We're committed to offering ongoing support. All the best.