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Level 2

Expenses

I have multiple expenses that were paid for before our we were incorporated. I have categorized as"startup costs". Our business is not up and running just yet, but we have since incorporated. Some of those startup expenses were paid by different credit cards, do I need to add a separate account for each credit card used?

 

Thanks!

Solved
Best answer May 08, 2020

Best Answers
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Moderator

Expenses

Hi there, @jwest2!

 

Ideally, you'll have to create each credit card account for every expense you made since they're separate transactions and separate accounts. But if you track your expenses as one, you'll only need to create only one credit card account. You can read through this article to learn more: Add an account to your chart of accounts in QuickBooks Online.

 

In addition, I'd recommend contacting your account for additional assistance especially with how you can handle your credit card accounts

 

Lastly, here's a few articles you can read for ideas about how you can manage your account and transactions: Reports and Accounting for QuickBooks Online.

 

If you have any other questions, you can leave them in the comments. I'll be here to lend a hand.

View solution in original post

2 Comments
Highlighted
Moderator

Expenses

Hi there, @jwest2!

 

Ideally, you'll have to create each credit card account for every expense you made since they're separate transactions and separate accounts. But if you track your expenses as one, you'll only need to create only one credit card account. You can read through this article to learn more: Add an account to your chart of accounts in QuickBooks Online.

 

In addition, I'd recommend contacting your account for additional assistance especially with how you can handle your credit card accounts

 

Lastly, here's a few articles you can read for ideas about how you can manage your account and transactions: Reports and Accounting for QuickBooks Online.

 

If you have any other questions, you can leave them in the comments. I'll be here to lend a hand.

View solution in original post

Highlighted
Level 2

Expenses

@JonpriL thanks for our help!

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