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Level 1

I have a consultant billing to me as a purchase for the 3 months and they should be consulting expense. How do I change it from purchase to consulting expense?

 
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Best answer March 27, 2020

Best Answers
QuickBooks Team

I have a consultant billing to me as a purchase for the 3 months and they should be consulting expense. How do I change it from purchase to consulting expense?

Let me help you record this transaction correctly in QuickBooks, @ginicorp.

 

You can simply open your purchase transaction and change its category to consulting expenses. Here's how:

 

  1. Go to the Expense menu and look for the transaction. 
  2. Click the transaction to open. 
  3. Under the CATEGORY column, click the account and select the correct expense category.

 

If you haven't created a consulting expense yet, you can create one in your Chart of Accounts. Let's simply follow these steps:

 

  1. Click the Accounting menu and select Chart of Accounts.
  2. Click New, then select Expense in the Account Type.
  3. Choose the Detail Type applicable for this account.
  4. Enter the name of the expense account.
  5. Click Save and Close.

 

Once done, you can now open the purchase transaction and follow the steps above on how to change it.

 

You can also open your expense reports to track what you've spent in QuickBooks.

 

If you ever have other questions we can help you with, feel free to swing by the Community!

View solution in original post

3 Comments
QuickBooks Team

I have a consultant billing to me as a purchase for the 3 months and they should be consulting expense. How do I change it from purchase to consulting expense?

Let me help you record this transaction correctly in QuickBooks, @ginicorp.

 

You can simply open your purchase transaction and change its category to consulting expenses. Here's how:

 

  1. Go to the Expense menu and look for the transaction. 
  2. Click the transaction to open. 
  3. Under the CATEGORY column, click the account and select the correct expense category.

 

If you haven't created a consulting expense yet, you can create one in your Chart of Accounts. Let's simply follow these steps:

 

  1. Click the Accounting menu and select Chart of Accounts.
  2. Click New, then select Expense in the Account Type.
  3. Choose the Detail Type applicable for this account.
  4. Enter the name of the expense account.
  5. Click Save and Close.

 

Once done, you can now open the purchase transaction and follow the steps above on how to change it.

 

You can also open your expense reports to track what you've spent in QuickBooks.

 

If you ever have other questions we can help you with, feel free to swing by the Community!

View solution in original post

Level 1

I have a consultant billing to me as a purchase for the 3 months and they should be consulting expense. How do I change it from purchase to consulting expense?

perfect.  thanks

QuickBooks Team

I have a consultant billing to me as a purchase for the 3 months and they should be consulting expense. How do I change it from purchase to consulting expense?

Thanks for the reply, @ginicorp.

 

Let me know how this goes for you. Just know that you're always welcomed to come back to the Community with any of your QuickBooks needs. We're always happy to help!

 

Wishing you and your company continued success. Have a great rest of your week.

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