I'm happy to guide you today so you'll be able to record your expenses accordingly, @dave97. If you've paid the expenses directly, you can record an expense/check transaction when buying the item. If not, you can create a bill, and record a bill payment once you pay the transaction. For additional reference about entering and paying bills in QuickBooks Online, read this article: Enter and pay bills. To write a check or expense transaction: Tap on Expense or Check under Vendors from the Plus (+) icon. Select a payee, payment account, payment method, and payment date. Go to the Item details section, then add the item/s under the Product/Service section, the rate of the item, quantity, and amount. Click on Save or Save and close to record the changes. Here are the lists of articles you can read more about entering expenses/checks in QuickBooks Online: Enter, edit, or delete expenses in QuickBooks Online How to write checksAs always, read our help articles in case you need tips and related links while working with QuickBooks in the future Keep me posted if you have any other questions. I'm always here to help. Have a good day!

Question

I buy items from a vendor as they sell. How do I enter those expenses into QB properly?

Forum|Forum|6 years ago
February 23, 2020
1 reply
5 views

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QuickBooks Online

Angelyn_T

Moderator

I'm happy to guide you today so you'll be able to record your expenses accordingly, @dave97.

If you've paid the expenses directly, you can record an expense/check transaction when buying the item. If not, you can create a bill, and record a bill payment once you pay the transaction.

For additional reference about entering and paying bills in QuickBooks Online, read this article: Enter and pay bills.

To write a check or expense transaction:

Tap on Expense or Check under Vendors from the Plus (+) icon.
Select a payee, payment account, payment method, and payment date.
Go to the Item details section, then add the item/s under the Product/Service section, the rate of the item, quantity, and amount.
Click on Save or Save and close to record the changes.

Here are the lists of articles you can read more about entering expenses/checks in QuickBooks Online:

As always, read our help articles in case you need tips and related links while working with QuickBooks in the future

Keep me posted if you have any other questions. I'm always here to help. Have a good day!

D

dave97Author

Thanks for the help so far. I am still a bit stumped. When I enter in a item I bought from a vendor and then close it it makes a total dollar amount. When I add another item that I bought on a different day and save that one QB is taking those two dollar amount and adding them together instead of just a rolling total. And I don't understand how I can show that I sold a particular item from the inventory I entered from a vendor.

JessT

Moderator

Hi dave97,

When you buy the item from the vendor, you can record it as an expense transaction. Or, you can write a check to the vendor and use the item in the check transaction. Or, you can create a bill if you'll pay it at a later date. Any of these transactions will increase the inventory count of the item.

When you sell the item, you can create an invoice or sales receipt, and use the item in any of these transactions. This will reduce the inventory count of the item.

When you add or rebuy the item to replenish your inventory, you can create an expense, a check or a bill again.

To check the count, you can click the Gear icon and choose Products and Services. Then, see the count in the QTY ON HAND column.

The transactions I mentioned are what we normally do when purchasing and selling inventory items. However, I would be glad to know how you do it on your end. If you can add a screenshot on your reply, that would be great. Thanks in advance.

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