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DBOhio
Level 1

Expense Account Tranactions missing credit side of transaction

When I add a new expense account or new subaccount and use the account or subaccount in a bank or credit card transaction the credit side of the transactions is not created. If I change the account to an old account the transaction writes correctly creating a debit and credit transaction. 

 

I have tried backing up the data and restoring from a backup and a portable file with no success. I have tried resorting lists and nothing seems to correct the problem 

 

I'm using QuickBooks Desktop 2018 and have updated to the latest patches.

 

All transactions are manually entered and not downloaded from my banking institution.

 

Any help resolving this issue is appreciated.

 

Thanks,

Dan 

2 Comments 2
MarshallA
Intuit

Expense Account Tranactions missing credit side of transaction

Hello,

 

QB should be automatically creating it.  Keep in mind that the credit will be going different directions depending on if you do the expense on a bank account vs. credit card account.

 

Example:

 

$100 expense for Supplies and Materials

 

Bank Account as funding account

----------------------------------------------------

Supplies and Materials expense account INCREASES by 100 (Debit)

Bank account DECREASES by 100 (Credit)

 

Credit Card Account as funding account

----------------------------------------------------

Supplies and Materials expense account INCREASES by 100 (Debit)

Credit Card account INCREASES by 100 (Credit)

 

As far as I know, there is NO WAY to "break" this  as QB NEEDS an offsetting account for every transaction.  You might want to enter a HUGE transaction as a test thats easy to spot and later delete to make sure you're not just missing something.  For example a $50,000 expense for Meals or something

Anonymous
Not applicable

Expense Account Tranactions missing credit side of transaction

If you create a bank check or CC charge, the Credit is the detail line that uses those accounts. The debit is the expense.

 

You can see the accounting on any transaction by selecting in in your account register or opening it in its form an then picking Transaction Journal from the bottom of the Reports menu.

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