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roseroscoe44
Level 2

Purchase of a Credit Card Machine

I purchased a POS Credit Card Reader Machine.  Can you tell me what expense account that would go under?  Or how I would enter that purchase in Quickbooks Online?

Thank you

1 Comment 1
JamesDuanT
Moderator

Purchase of a Credit Card Machine

Hello roseroscoe44,

 

Recording purchases in QuickBooks Online is quite easy. Meanwhile, it'd be best to consult accounting experts regarding what expense accounts to use.

Here's how to record your purchases.

  1. Click the + New button on the left menu.
  2. Select Check, Expense, or Bill.
    You can also check out this link to see the difference between these transactions: What Is The Difference Between Bills, Checks, And Expenses?.
  3. Enter the vendor name in the Payee field.
  4. Enter the bank account in the Bank Account field.
  5. Go to the Category details section and enter the expense account in the CATEGORY column.
  6. Enter the amounts and other necessary details.
  7. Click Save and close.

Again, reaching out to your accountant would be our best course of action. They'll be able to provide details on what expense account to use.

 

Since you've purchased a credit card reader, you might  want to know more about it. You can use these links for reference:

You'll learn more about how the program works as you navigate it from time to time. Have a great day!

 

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