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Join nowIs there a way when I record sales that it will subtract the value of an account?
For instance, I have a motorcycle valued at $500 with its own account (1004-01) in the chart of accounts.
I sell $100 of parts off of that motorcycle.
Is there a way in QB Online Simple Start to have my +$100 entry in the Sales (4001) account also subtract -$100 from the 1004-01 account?
Thanks in advance,
Ray
Solved! Go to Solution.
Hello @VMR302,
You can create a journal entry to enter a sale that'll subtract the amount to the created account in your chart of accounts. Let me show you how.
In the same manner, here's an article you can read to learn more about creating a journal entry: Create a journal entry in QuickBooks Online
But please know that it is recommended to contact your accountant if you need the specific name of the category to use. If you haven't yet, you can use this link to find someone near you: Business is better with a ProAdvisor.
On top of that, I've also included this reference for a compilation of articles you can use while working with us: Know where you stand financially.
If you have any other questions, please let me know by leaving any comments below. I'll be here to lend a hand.
Hello @VMR302,
You can create a journal entry to enter a sale that'll subtract the amount to the created account in your chart of accounts. Let me show you how.
In the same manner, here's an article you can read to learn more about creating a journal entry: Create a journal entry in QuickBooks Online
But please know that it is recommended to contact your accountant if you need the specific name of the category to use. If you haven't yet, you can use this link to find someone near you: Business is better with a ProAdvisor.
On top of that, I've also included this reference for a compilation of articles you can use while working with us: Know where you stand financially.
If you have any other questions, please let me know by leaving any comments below. I'll be here to lend a hand.
Jonpril,
Thank you very much. It seems simple enough. I will give it a try today.
Thanks again for the excellent and quick response
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