Not necessarily, idealtropical. I’m here to share information on how expense transactions are managed in QuickBooks.
In QuickBooks Online (QBO), bank transactions don't need to be logged as expenses unless they are actual expenses incurred for goods or services. Bank transactions typically include deposits, withdrawals, transfers, and payments, which may or may not be expenses.
If you connected your bank to QBO, manually entering your expenses is unneeded. Instead, click Add when categorizing your expenditures to add them directly.
On the other hand, if you've entered your expense transactions by hand, you should use the Match option to recognize them. The system finds and suggests a match based on the records you have. It helps prevent duplicate entries and keeps your books accurate.
Check out these articles to learn how to match and categorize downloaded transactions in the program:
Furthermore, here’s how to create bank rules to speed up the review process when you have events in QBO.
If you have additional queries about handling your expenses and bank transactions, please leave some comments below. I'll be here to assist you. Have a good one!