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I bought a piece of equipment earlier this year. The company did not have money, so I purchased the equipment as a loan to the company and put it in use immediately. In QB, when I repaid myself, I made a JE on the day I wrote the check for the original purchase price under "machinery and equipment" and "interest paid" as the cost was above $10k.
Now the check has come into the bank and I want to tie the check expense to the JEs, but quickbooks does not find a match. How do I solve this? ?
Stop using journal entries, QB is not designed for their use and as you can see sometimes they do work as they should
use an expense, enter the check and what it for after deleting the journal entry (bring it up and use the more menu/link at the bottom and select delete)
I'd absolutely love to stop using JEs, I rarely touch them. But I made a purchase that requires multi year depreciation. How do you deal with depreciation when you expense it out in Y1?
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