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Sean85
Level 1
posted
‎July 04, 2023 05:32 PM
last updated ‎July 04, 2023 12:32 AM

Help with Journal entry recording personal purchases and selecting correct account categories

Hi,

 

I am going through the process of my first journal entry and think I have it sorted (see below).

 

I am struggling however to select the right accounts for some of the expenses. I feel like consumables should be 'Supplies and materials' which is an existing category but it not an option in the journal drop down menu. For tools it appears as 'Fixed Asset - Machinery and equipment' but I cannot select this either.

 

Could you review the attached image and let me know if it is correct and also advise on the account categories?

 

Thanks in advance for any help.

 

Regards,
Sean

 

 

 

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2 Comments 2
Sean85
Level 1
‎July 04, 2023 05:48 PM

Help with Journal entry recording personal purchases and selecting correct account categories

Attached updated image as JPG.

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IntuitAika
Intuit
Intuit
‎July 04, 2023 06:05 PM

Help with Journal entry recording personal purchases and selecting correct account categories

Hi Sean85,

 

Thanks for posting in the Community!

 

You can allocate your purchases to Supplies and Materials and Machinery Equipment via journal entry. We can check on the Chart of Accounts list to confirm the name of the account and it's detail and account type. Here's how: 

 

  1. Go to Gear icon and select Chart of Accounts.
  2. Check the Name, Type and Detail Type column.

 

You can also create a new account in Chart of Accounts if you would like to track the consumable items separately. To do that, simply click on New and then select the Account type and Detail type for that account. 

 

In any case you're still unable to select these accounts on your journal entry, let's do some browser troubleshooting. To start with, let's log in to QuickBooks from a private (incognito) window. Sometimes cache stores up in the system causing problems on the web pages.

 

Here’s how:

 

Safari: press Command + Shift + N 
Google Chrome: press Ctrl+ Shift + N 
Mozilla Firefox: press Ctrl + Shift + P 

 

I would recommend contacting your accountant for an advice to ensure accuracy on your recording or look for a ProAdvisor. Use this link to Find an accountant near you: https://quickbooks.intuit.com/au/find-a-proadvisor/.

 

Feel free to drop a comment below if you have any other questions, we're here to help. 

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