Good day, claireburbage88.
You can enter a bill for the invoice you've received and record the payment. That way, your expenses are tracked in QuickBooks.
Here's how to enter the invoice your receive.
- Click + New, then Bill.
- From the Supplier ▼ drop-down, select a supplier.
- From the Terms ▼ drop-down, select the bill's terms. This is when your supplier expects to be paid.
- Enter the Bill date, Due date, and Bill no. as they're recorded on the bill.
- Enter the bill details in the Category details section. From the Category dropdown, select the expense account you use to track expense transactions.
- Enter the Amount and tax. The total amount displayed is based on the option selected in the Amounts are field.
- When you're done, click Save and close.
- Use the Pay Bills option to record your payment.
Entering your income and expenses gives a more complete picture of your business and profit. You can browse this article to learn how to record them depending on your situation: Learn the difference between bills, cheques, and expenses in QuickBooks Online.
For the income, there are two ways to record sales transactions depending on when you receive payment.
- For an immediate payment, create a Sales Receipt.
- For a deferred payment, create an Invoice to record the sale. Then, when payment is received, use Receive Payment to record the payment.
Let me know if you have additional questions about recording your income and expenses. I'm always right help record them in QuickBooks.
