cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
MFL
Experienced Member

feasibility expense

We have paid for some feasibility studies on a piece of property we wished to purchase. The studies ended up that  property wasn't feasible for our intended purpose. We paid for the studies out of our savings. How do I enter these expenses? Thank you! ML

1 Comment
Moderator

Re: feasibility expense

Thanks for choosing QuickBooks as your accounting tool, @MFL.

 

Since the feasibility study's result on the property doesn't work for the intended purpose, you can enter a vendor credit to record the expenses:

  1. On the top menu, click Vendors
  2. Choose Enter Bills.
    1.PNG
  3. Select the Credit radio-button.
  4. Select the vendor name.
  5. Go to the expense tab and select your savings account.
  6. Enter the amount and other necessary information.
  7. Click Save & Close.
    2.PNG

For additional reference, you can check the Manage vendor credits article.

 

That should do it! Let me know the results or if you have follow-up questions about vendor credits. I'm always here to offer more help.