Match check to JE split between equipment purchase and intererst?

jd555 · ‎December 07, 2021

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? ?

Rustler · ‎December 07, 2021

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)

jd555 · ‎December 07, 2021

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?

Topics

Training

Community

Resources

Match check to JE split between equipment purchase and intererst?

Match check to JE split between equipment purchase and intererst?

Match check to JE split between equipment purchase and intererst?

Need to get in touch?