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ag25
Level 1

Changing an expense into an income

One of my friends owns a business and I suggested using Quickbooks because he had nothing set up to keep track of everything. He doesn't get a pay check from the company, therefore he applied for unemployment. When inputting the income he's receiving into his Quickbooks the item is coming up as an expense. He tried to change it but doesn't know how. He asked me to help but I couldn't figure it out either. Does anyone have any suggestions? 

 

Thank you.

1 Comment 1
JasroV
QuickBooks Team

Changing an expense into an income

 Good day to you, @ag25.

 

I appreciate you for suggesting QuickBooks to your friend. To help you get around this issue, you’ll want to ensure your friend entered the transaction as money in and not money out transaction. Thus, it could be the reason why the income shows as an expense in their account.

 

Moving forward, you’ll want to have your friend delete the expense transaction and receive the payment. Since they had nothing to set up and keep track of, they can just receive the payment to record their income. Let me show you how.

 

  1. Go to the + New menu.
  2. Click Receive Payment.
  3. Select the name of the customer.
  4. From the Deposit to drop-down, select the account you put the payment into. 
  5. Enter the Reference no. and Memo if needed. This is optional.
  6. When done, select Save and close.

 

You can also check this link for more details: How To Receive Payments In QuickBooks Online.

 

Furthermore, to know their way around with QuickBooks, they can always visit our QuickBooks Support page for reference. We have articles there that they can use for future guidance.

 

If you have other questions or concerns in recording income or managing your QuickBooks, you can always get back to me in this thread. I’ll be more than happy to assist you. Have a jolly day ahead.

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