QuickBooks Online For Dummies, 5th Edition

Chapter 5

Dealing with the Outflow of Money

IN THIS CHAPTER

Writing checks

Entering expenses

Using purchase orders

Entering and paying bills

It’s always more fun to make money than to spend it, but paying bills is part of life — unless you’re living in Star Wars: The Last Jedi, where they have no bills — but, I digress. This chapter explores the transactions you use in QBO to meet your financial obligations.

GETTING UP AND RUNNING

If you start using QBO after you’ve been in business for a while and have some outstanding bills you haven’t yet paid, you can use those bills as a learning tool and enter them as described in this chapter. If you recorded an opening bank account balance back in Chapter 3, be sure to enter into QBO the checks you’ve written that haven’t yet cleared your bank. If you didn’t record an opening bank account balance back in Chapter 3, or you recorded a bank account balance as of December 31 of last year, be sure to enter into QBO all the checks you’ve written this year, even if they have cleared the bank. If you connect your bank account to your financial ...