I've listed some details on when to record expense transactions, accounts@urban-s.
This way, we can ensure if the purchase order should be connected to an expense.
- Expense report a transaction as an expense and a payment simultaneously.
- While Bills are for payables (received services or items to be paid later) Expenses are for services or items paid on the spot.
- If you paid something via credit card, use Expense.
- If you paid something via EFT, you should still use Cheque or Expense. You can enter EFT in the cheque number field.
For more details, please see this article: The Difference Between Bills, Cheques, and Expenses.
You can follow these steps to add a purchase order to an expense in QuickBooks.
- Go to the + New icon.
- Select Expense.
- From the Payee ▼ drop-down menu, select the supplier. This opens a window with their open purchase orders.
- Choose Add for the correct purchase order. This adds the items from the purchase order.
- Once done, click on Save and close.
To learn more about creating and adding a purchase to a transaction for your supplier, please see these article:
I've also included an article that'll help you assign a preferred supplier to specific stock items to save time when reordering those items: Add a Preferred Supplier and Create a Purchase.
Please visit me here again in the Community and keep me posted if you'll need assistance managing g your vendor transactions. I'm determined to help you succeed.
