Should every expense have a Payee?

Forum|Forum|7 years ago
October 16, 2018
3 replies
11 views

Does every single expense need a Payee? If I go on a biz trip to NYC and get a hotdog from a food truck that I'll never visit again, do I really need to create a Vendor for that? I know the Payee field is not required but I'm curious about best practices. Thanks!

QuickBooks Online

Best answer by qbteachmt

I teach this as:

Use generic names, such as Misc Food. Use this on Cash transactions and credit card transactions, rather than adding every possible name to the data file.

qbteachmtAnswer

Level 11

I teach this as:

Use generic names, such as Misc Food. Use this on Cash transactions and credit card transactions, rather than adding every possible name to the data file.

tom6Author

Nice. I was thinking this but then thought it might be a total hack job, so glad to hear others do it!

lindak1119

Level 7

Hey Tom!

That's a great question! The answer depends on how you want to keep your books. QuickBooks Online is capable of doing either way. I would really recommend talking to your accountant! If you don't have an accountant, we do have ProAdvisors that are certified in QuickBooks! To find a ProAdvisors near you, please go here!

Please let me know if you have any other questions!

Empower Plumbing

I don’t believe every Expense should have a payee. As a business owner you are trying to show where the money went, you may have to go to a supermarket to get a package of printer paper because, Office Depot is out.

Or go to an automotive store to help you finish the task at hand… Whatever it takes to get the job done

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