Thank you for replying back here in the Community, @Anrew A 66.
I'd be happy to assist you in entering transactions appropriately.
In QuickBooks Online, it's easy to track how much you make and spend on each product or service. This gives you more detailed financial reports and helps you complete transactions faster. In your case, since you want to record your purchases for rehab supplies, you need to add these products first in QBO. After which, you're now ready to record an expense whenever you purchase a supply.
Here's how to record an expense:
- Click on the +New icon and select Expense.
- Choose the Vendor in the Payee field. Tip: If the transaction covers multiple petty cash expenses, leave this field empty.
- Select a Payment account you used to pay for the expense and enter the date for the expense Payment date field.
- Select how you paid for the expense in the Payment field section.
- If you want detailed tracking, enter a Ref no or Permit no. This is optional.
- In the Tags field, enter the preferred label to categorize your money.
- In the Category details section, enter the expense info. In the Category dropdown, select the expense account you use to track expense transactions. Then enter a description.
- Select the Product/ Service that you've just added in QBO.
- Fill in the other needed information.
- Don't forget to Save and close once done.
On the other hand, if your debit and credit are not balanced, you can create a journal entry to force your books to balance in specific ways. However, I highly recommend you only use them only if you understand accounting or contact an accountant to be guided on what accounts to use.
Stay in touch if you have any other questions about managing your transactions. I'm happy to answer them for you. Have a great day!
