I've got helpful insights in converting bills to expenses in QuickBooks Online (QBO), @uservickiep.
For the time being, you'll have to delete the bills you've entered in QBO. Then, start over by manually entering your transactions as expenses. This way, you can keep your financial data accurate.
To delete a bill, here's how:
- Go to the Expenses menu.
- On the Expenses tab, locate the bill to delete.
- In the Action column, select Delete from the drop-down menu. Repeat as necessary.
Once done, enter your expenses by following these steps:
- Go to the + New button.
- Select Expense.
- In the Payee field, choose a vendor.
- Select the Payment account to which to credit this expense.
- Enter the date of the purchase in the Payment date field and specify the Payment method for the expense.
- Choose the Category or Item details, the amount of the purchase, and any tax paid.
- Click Save or Save and new. Repeat as necessary.
I've attached a screenshot below that shows the last five steps.
After that, I'd recommend pulling up the Transaction Detail by Account report. This is to make sure all your transactions (expenses) are recorded accordingly. Just go to the For my accountant section from the Reports menu's Standard tab.
Also, I'm adding this article to learn more on when to enter bills and record expenses in QBO: What is the difference between bills, checks, and expenses?.
Please know I'm only a post away if you have further questions or need further assistance in managing your expense transactions in QBO. Wishing you continued success. Take care always.