cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

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.

Solved
Best answer 03-21-2019

Best Answers
Anonymous
Not applicable

Re: 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.

View solution in original post

5 Comments
Level 1

Re: 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

Re: Journal Entry for expenses

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

Level 1

Re: 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

Re: 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.

View solution in original post

Level 1

Re: Journal Entry for expenses

thanks that was way easier then I thought!