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Hi,
I am an S Corp Owner Operator leased by a fuel company. Fuel (and other expenses) is already deducted from my settlement before pay. Whats the best way to make a journal entry these expenses?
Thank you
Solved! Go to Solution.
It would be better to use a sales receipt, and use items you create for the income as well as the expenses.
line one - an item which posts the gross amount to income
line two - an expense item which posts to the expense account with the qty set to a negative one, and the amount entered
line three and beyond the same as line two, each with a different line item
QB is not designed to use journal entries, they often do not work as expected and do not show on some reports
It would be better to use a sales receipt, and use items you create for the income as well as the expenses.
line one - an item which posts the gross amount to income
line two - an expense item which posts to the expense account with the qty set to a negative one, and the amount entered
line three and beyond the same as line two, each with a different line item
QB is not designed to use journal entries, they often do not work as expected and do not show on some reports
Thank you.
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