Recording expenses
What happens next is
variable. Inventories and purchase
orders are an option in any QuickBooks
company. If this option is active, two
tabs will be visible, above the detail
section, marked Expenses and Items
(discussed below.) The option may be made active from
File|Preferences|Purchases and Vendors
or Preferences|Inventory/PO's.
Expenses
tab selects purchases not handled as “items.” If the Inventory option is off, or if the
Expenses tab
is at the front, the left-most column will be headed
Account. (If the Item
tab is at the front, please click on
Expenses
, to follow this discussion.) If you did receive items on a purchase order, please see “Recording
Items Purchased,” below.
Account
used is nearly always an expense account; sometimes it will be a purchased asset. A checking
account would never XE "never" be used here. The account name may be typed in. If it does not exist, it
may be added. Or an account may be selected from the chart. Clicking the down-arrow to drop the Chart of
Accounts is preferred. This displays the entire chart of accounts, but scrolled down to the beginning of the
expense accounts. Select the appropriate account.
Memo
field of a detail line takes a comment. In reports, this memo will be associated with the listing of the
expense (or asset) side of the transaction.
Customer:job
associates this expense with a job.
Invoice
(the little square icon) is used if a customer:job is named:
Invoice icon in full color: to be invoiced to this customer:job
Invoice icon in faded gray: has been invoiced. (See Note)
X
over an invoice icon: never to be invoiced.
NOTE
The bill and the invoice are not linked. The bill will be found when an invoice is generated to this customer,
and may be billed through. This sets the invoice icon (here) to the gray “has been invoiced” indication. If the
invoice is later deleted, the icon here will remain gray, and the expense will not again be presented for
automatic invoicing.
Class
field is used if your company accounting plan includes classes on expenses.
OK
records the bill and exits the “Enter Bills” function.
Oops! A warning appears if the amount due on the bill is not the sum of the items. One choice will be to
correct any item amounts as needed. the other is to click
Recalc.
A different warning may pop up if you used
Quick Add
for a new vendor, which leaves a blank in
Terms. If
you added terms on this bill, QuickBooks will want to know if you want to make the same terms the usual
thing (default) for this vendor, by adding the terms to the vendor name record. This is up to you.
Recalc
will force the Amount Due on the bill to become the sum of the items and expenses.
Next
or Control-Enter records this bill, and goes to a new, empty bill form.
Print
is not there, because it is assumed to be a vendor function. XE "printing:bills"
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