I can see that you need to enter manually enter expenses manually in QuickBooks Online, cambermgmt. When recording a loan refinance in your journal entry, you need to specify the accounts involved in the transaction. Since you mentioned that you get an error, let's work together and identify the issue.
Once you create your company, QuickBooks automatically sets up an account in the chart of accounts. However, if you get an error after selecting an account, the possible reason is that this was not yet enrolled within the COA. In this case, we'll need to set up an expense account if the following account is listed on your Excel file.
Follow these steps for your guide:
- Go to Settings ⚙ and select Chart of Accounts.
- Select New to create a new account.
- In the Account Type ▼ dropdown, choose an account type.
- In the Detail Type ▼ dropdown, select the detail type that best fits the transactions you want to track.
- Give your new account a name. Tip: Use the detail type description to create a name that describes what you're tracking.
- Add a description.
- Now let's ensure the account in QuickBooks matches your real-life bank or credit card account. Choose when you want to start tracking your finances. In the Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
- When you're done, select Save and Close.
For additional references, you can visit this article on how to set up an account under the Chart of Accounts section: Add an account to your chart of accounts in QuickBooks Online.
Make sure you're selecting the appropriate accounts for each part of the transaction, which should resolve the error. If you need further assistance, feel free to ask!
