Property Damage

Hello, @vale30.

Thank you for reaching out to the Community. Let me answer your concern with creating expenses in QuickBooks Online (QBO).

You can record an income and expenses to picture out your business and profit. If the expenses has been paid you can enter it as an expense.

Here's how to enter and manage expenses in QuickBooks.

1. Click + New, under Vendors select Expense.
2. In the Payee field, select the vendor.
3. In the Payment account field, select the account you used to pay for the expense.
4. In the Payment date field, enter the date for the expense.
5. In the Payment method field, select how you paid for the expense.
6. If you want detailed tracking, enter a Ref no or Permit no. (Optional).
7. In the Category details section, enter the expense information.
8. Enter the Amount and Tax.
9. If you plan to bill a customer for the expense, select the Billable checkbox and enter their name in the Customer field. Then, select Save and close.

I highly recommend you consult your accountant about creating a journal entry to offset the expense with business insurance and tax in the future.

On the other hand, you can utilize this article to learn more about billable expense.

Let me know when you need further assistance with creating expenses. I’m just one post away. Have a great day!