Enter and manage expenses in QuickBooks Online
by Intuit•64• Updated 3 days ago
Learn how to record, edit, and delete expenses in QuickBooks Online.
In addition to tracking sales, QuickBooks Online makes it easy to record business expenses. Entering your income and expenses gives a more complete picture of your business and profit.
If you've already paid for a business expense, enter it as an expense. On the other hand, if you plan to pay for the expense in the future, enter it as a bill. These are specific transaction types that tell QuickBooks how to record everything. Here's how to enter and manage expenses in QuickBooks.
Or, learn the difference between bills, cheques and expenses.
Check out this quick video to learn about recording expenses:
Record an expense
Follow these steps if you already paid for a business expense and need to record it in QuickBooks:
Tip: If you have lots of expenses to record, you can also enter them directly to the account history.
- Select + New. Then select Expense.
- In the Payee field, select the supplier. Tip: If the transaction covers multiple petty cash expenses, leave this field empty.
- In the Payment account field, select the account you used to pay for the expense.
- In the Payment date field, enter the date for the expense.
- In the Payment method field, select how you paid for the expense.
- If you want detailed tracking, enter a Ref no. This is optional.
- In the Category details section, enter the expense info. In the Category dropdown, select the expense account you use to track expense transactions. Then enter a description. Tip: You can also enter specific products and services in the Item details section to itemize the expense.
- Enter the Amount and sales tax.
- If you plan to bill a customer for the expense, select the Billable checkbox and enter their name in the Customer or Customer/Project field. Learn more about billable expenses.
- When you're done, select Save and close.
You can also enter notes in the Memo field. These appear in the Account history, on printed cheques, and on reports.
- If you use expense claims, select Print to have a paper copy of the voucher.
Managing expenses
Edit an expense
Since you already paid for expenses you enter into QuickBooks, you can edit them anytime. However, if you decided to bill your customer for the expense, edits you make will impact the invoice you send them later on:
- Go to Expenses, then Expenses (Take me there).
- Find the expense you want to edit. Select View/Edit in the Action column.
- Update the transaction as needed.
- Select Save and close.
Review your expenses
Want to see the income and expenses for each customer?
- Go to Reports (Take me there).
- Run an Income by Customer Summary report.
Delete an expense
- Go to Expenses and select Expenses (Take me there).
- Find the expense you want to delete.
- Select the View/Edit ▼ dropdown in the Action column, then select Delete.
- Select Delete to confirm that you want to delete the transaction.
Once you delete an expense, it disappears from reports, but you can still see a record of it in the Audit log.
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