how to enter personal expenses in quickbooks

#How to enter personal expenses in quickbooks download#

Automatically recall last transaction for this name-Recalls both the account and the previous amount.QuickBooks offers two choices with the Automatically Recall Information preference (select Edit, Preferences from the menu bar and select the General- My Preferences tab): Have you ever found that QuickBooks users assign a different expense account each time they create a check or bill to pay for costs of the business? This can make reviewing your specific expenses for the business less accurate. The cash basis Balance Sheet might show this credit card payment amount if it is not paid by the date you prepare your financials. The vendor bill simply decreases the balance owed on the credit card liability account. If you selected one of the other two options, you need to create a vendor bill or check and in the Account column of the transaction assign the Credit Card type account you previously recorded the transactions to.If you selected to enter a bill to your credit card vendor, pay the bill as you do other bills, paying it partially or in full.Options for paying your credit card bill include the following: To see whether your card offers this option, select Banking, Online Banking, Participating Financial Institutions from the menu bar. Not all credit card providers offer this functionality.

#How to enter personal expenses in quickbooks download#

Use the QuickBooks Online Banking feature and automatically download your credit card charges and payments directly into your QuickBooks data file.You might be prompted to add a credit card account to QuickBooks. From the menu bar, select Banking, Enter Credit Card Charges. Enter a bill to the credit card vendor, summarizing the total charges on one bill and entering a separate line for each expense account amount.Options for recording credit card expenses include the following: The decision is based on your own circumstances because several ways can be appropriate. You have flexibility in how you choose to record and pay your credit card bills in QuickBooks ®.