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I entered several lines of expenses (Tools and Supplies & Materials) from the same retailer (HD) from different billing dates. I later realized that I should have been adding the expenses by date and retailer, not just by the retailer. Is there a way to edit the items or move the items to the correct billing cycle/date?
If you entered all of these in one Expense for a single date you cannot easily split them out to reassign to separate dates. These instructions are for QBO (since the new community site does not even tell us what platform you are using I have to guess)
If you are using QB Desktop you cannot open two windows of the same type but all is not lost.
For QBDT, start with the wrong Check or Credit Card Charge. Create copies for each different date. IN each different copy remove all lines that do not apply. The shortcut to delete a line in QBDT is , when cursor is in that line hit Ctrl+Del
Since the most correct way of treating purchases from HD (Home Depot) is as credit card charges even though a statement might cover the year-end you need to keep the purchases in the correct year. Posting them as cc type charges makes them expenses as of the date of charge even in cash accounting whereas treating HD like any other vendor, with the ability to view the balance in AP prevents the purchases from being expensed at time of purchase in cash basis but not accrual
John,
I am using the QBO platform. Would it be better if I enter the HD purchases as credit card charges? And if so, how do I go about doing that? Is there a different area that they should be entered in? I'm assuming that there is and that if I truly want to enter this in the correct manner I'll be starting from scratch with this. I just want to make certain I am doing things correctly. Thank you for your help. It is truly appreciated.
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