Hi how would I make a journal entry to record a utility expense paid in 2018 for 2019. I do not have the bank transaction because I am only starting QB from Jan 1, 2019. So I need to record the expense manually as a journal entry I guess? Normally I enter the expense then match to the bank feed.
There a 3 common (and different) ways to record expenses: 1. As a 'check' (use for both check and cash payment) - this is a one time entry. 2. As a vendor bill - with subsequent 'vendor bill payment' by check (2 steps) 3. As a credit card purchase - with subsequent credit card payment for all charges (1.5 steps) I described #1, you described #2 - choose either but not both.
So if I understand correctly I write a fake check in QB to record the payment for the expense incurred? So do I then enter the expense as I would normally do when I get a bill or receipt etc?
There a 3 common (and different) ways to record expenses: 1. As a 'check' (use for both check and cash payment) - this is a one time entry. 2. As a vendor bill - with subsequent 'vendor bill payment' by check (2 steps) 3. As a credit card purchase - with subsequent credit card payment for all charges (1.5 steps) I described #1, you described #2 - choose either but not both.
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