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How to Record Cash Withdrawal used for Business Expense

how to record vendor check endorsed back to business to get cash?

1 Comment
QuickBooks Team

Re: How to Record Cash Withdrawal used for Business Expense

You can write a check for Business Expense, sgarver. 

 

To do so:

  1. Go to  Banking menu and then select Write Checks
  2. Leave the PAY TO THE ORDER OF blank. 
  3. On the Expense tab, create these line items:
    First line- The Expense account for what you purchased and it's amount. 
    Second line- Owner's Equity and enter the same number but as negative. 
  4. Then, Save & Close

This process would offset the expense. I also recommend checking this with an accountant to make sure you selected the correct account. 

 

The Community is always here to help you if you have further questions. 

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