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kmquickq
Level 2

Journal Entry for expenses

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.

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Best answer March 21, 2019

Best Answers
Anonymous
Not applicable

Journal Entry for expenses

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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5 Comments 5
kmquickq
Level 2

Journal Entry for expenses

I will need baby steps I assume so be gentle haha

 

Do I go ahead and enter the expense like normal or is everything done in journal entries instead?

Anonymous
Not applicable

Journal Entry for expenses

Cash expenses are always entered as checks. Checks can be created manually and back dated - just dont print it. 

kmquickq
Level 2

Journal Entry for expenses

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?

Anonymous
Not applicable

Journal Entry for expenses

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.
kmquickq
Level 2

Journal Entry for expenses

thanks that was way easier then I thought!

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