How to book personal expenses in quickbooks

In either case, with a Customer:Job associated with the line item for the expense, youР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›ll be able to use QuickBooks to perform job profitability analysis, more commonly known as job costing. Leaving this field checked wonР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›t interfere with associating expenses with customers itР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›s an important detail if your organization does want to use it to track reimbursable expenses. Unfortunately, thereР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›s presently no way to set the default for the Billable? field to being unchecked for those organizations who want to simply assign expenses to customers and not seek reimbursement. If you are making estimated tax payments, simply book them under Tax Expense. If itР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›s not, simply remove the check mark by clicking on it. Hi, Lana Corporate income taxes that are taxed to the corporation (like franchise taxes, personal property taxes, corporate stock tax and such) are actually expenses of the business and can be recorded as Tax Expense on the books. Everything you enter in this screen must match the check you paid to the vendor. Choose a checking or savings account from the account list. Select an existing vendor from the list or create a new one. QuickBooks Online will open the check entry screen. That check mark in the Billable? field indicates this is a reimbursable expense to be invoiced to a customer or client. Click on the Quick Create (+) icon then select Check. When you add a Customer:Job to a line item on a check, vendor bill, credit card charge, or General Journal entry, QuickBooks will automatically put a check mark in the Billable? field. Doing so will enable you to analyze both the expenses as well as the revenues from a job. When you record an expense using 1 of these 4 methods, you can associate line items on the transaction with one or more Customer:Jobs.

Via a General Journal entry using the Company->Make General Journal EntriesР В Р вЂ Р В РІР‚С™Р вЂ™Р’В¦ menu selection.

Recording a credit card transaction using the Banking->Enter Credit Card Charges menu selection.

Writing a check using the Banking->Write Checks menu selection or Ctrl + W keyboard shortcut.

Recording a vendor bill using the Vendor->Enter Bills menu selection.

In QuickBooks, the 4 principal ways to record expenses for a business are: QuickBooks includes features to distinguish reimbursable expenses from other types of expenses and to track which reimbursable expenses have in fact been invoiced to a customer.Р В РІР‚СњР В РІР‚РЋor more information on handling reimbursable expenses, see our related articles on enabling automatically invoicing customers for reimbursable expenses, invoicing a customer for reimbursable expenses, removing expenses from the list of billable expenses to be invoiced to a customer, and finding out which reimbursable expenses havenР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›t been billed to a customer. A reimbursable expense is an expense that you expect to invoice to a customer or client either at the actual cost or with a markup.

How to book personal expenses in quickbooks