Expense account for Books Purchase

Publications

None of the categories you suggested, or this one, are prepopulated on a Schedule C and would get added manually in Part V

Thanks John for the reply. So for Expense account , what would you suggest as a name if I need to create one. Thanks in advance!

Hello, @Multi Millionaire.

Choosing the name of our expense account totally depends on you. You can use the ones that you can easily recognize when tracking your expense transactions. Let me guide you on how you can create an account in QuickBooks.

1. Go to Lists.
2. Select Chart of Accounts.
3. Under Account, tap New.
4. Choose Expense as the category of your new account.
5. Enter the name of your account. 
6. Click Save & Close.

You can read through this article to learn more about how you can create a new chart of account: Understand QuickBooks Chart of Accounts

Also, I'd recommend consulting with an accountant so you' be assisted properly in managing your expense categories and transactions: 

• Create, edit, or delete account in QuickBooks Desktop

• Accounts Payable workflows in QuickBooks Desktop

Let me know in the comment section down below if you have any other concerns. I'm always around happy to lend a helping hand.