If you have billable expenses that will be invoiced to a customer or a donor or a grant, you need to create a product or service that is linked to your general ledger expense account. Select the applicable class for the transaction. Select an expense account for the transaction.Įnter the purpose of the payment in the description field.Įnter the payment amount and leave the billable box unchecked.ĭon’t select any customer if not billable. Select “without donor restrictions” as the location. In the reference number field, enter the payment confirmation number. Select an existing vendor from the list or create a new one.Ĭhoose a checking or savings account or credit card account from the account list.Įverything you enter on this screen must match the bill and payment receipt that you have.Įnter a payment date and payment method. Therefore, you should always use the bill entry and bill payment options with a credit card or a check to record your expense transactions in QuickBooks Online.Ĭlick on the Quick Create (+) icon then select Expense. ![]() ![]() ![]() Use the check feature to record a physical check or an ACH transaction.Īs a nonprofit, you are audited using the accrual accounting method to comply with GAAP. Only use the expense feature to record a debit or credit card transaction in QuickBooks Online. Tips to Tracking Expenses in QuickBooks Online
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