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Level 1

Expenses for rehab project

I tried to input itemized expenses in Items&Services connected to an account in Chart of Accounts but I can't figure out where my expense will show. Please help!

Community Champion

Expenses for rehab project

Well they should not show up as actual expenses until you finish the project or sell the property if this is a flip.


For a flip: WIP or work in progress is a current asset account you should add to your COA and post all rehab costs to this account. Once completed you can move the total to a separate "inventory" current asset which will be part of your basis in the property .


If you are just performing rehab on continuos owned business property not for sale you still should use the WIP approach as there is certainly a possibility that the project must be depreciated rather than expensed.


Expenses for rehab project

Welcome, @BonillaGroup. Happy to see you here.


Let's find out which account your Item or Service is connected to. Check out the super easy steps below:


  1. In the top menu bar, navigate to Lists, then Item List.
  2. The Item List window will appear. You can see the associated income or expense account tied to a certain item by looking under the Account column.


That's it! For more information on managing your Item List in QuickBooks Desktop, I recommend checking out: Add, edit, and delete items


Shoot me a reply below if you have any other questions. I'm here as your number one resource for QuickBooks Desktop. Hope you have a great week ahead!

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