November 2024
Beginner
448 pages
10h 8m
English
Content preview from QuickBooks Online For Dummies, 2025 Edition, 10th Edition
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Chapter 3
Logging Expenses, Checks, and Credit Card Charges
IN THIS CHAPTER
Managing vendor records
Recognizing expenses and credit card charges
Applying credit card credits
Recording credit card payments
It’s always more enjoyable to record money coming in than going out, but incurring expenses is a necessary part of business, and that’s the focus of this chapter. You’ll explore various transactions in QuickBooks to record money going out, such as checks, expense transactions, and credit card transactions. When you record expenses, they can be posted to either a bank account or a credit card account, affecting the respective account immediately. Checks will reduce your bank balance, and credit card transactions will increase your credit card balance accordingly. Additionally, you can enter Bill transactions, which allow you to post expenses and charges to your books as soon as they are incurred, allowing you to pay them later — a process known as accounts payable (A/P).
Working with Vendors
John Donne famously said, “No man is an island,” and the same holds true for businesses ...
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