Enter Expense using two different methods

Answer 1

How to record an expense as an operating expense such as an office expense? ( explain in video part 1)

This method affects the P&L ( supply expense account and the Checking account /Bank )

How to record an expense as an inventory expense ? ( explain in video part 2)

This method affects the balanced sheets ( inventory assets accounts and the checking account/Bank )

Record an expense

Follow these steps if you already paid for a business expense and need to record it in QuickBooks:

Tip: If you have lots of expenses to record, you can also enter them directly to the account register.

1. Select + New. Then select Expense.
2. In the Payee field, select the vendor. Tip: If the transaction covers multiple petty cash expenses, leave this field empty.
3. In the Payment account field, select the account you used to pay for the expense.
4. In the Payment date field, enter the date for the expense.
5. In the Payment method field, select how you paid for the expense.
6. If you want detailed tracking, enter a Ref no or Permit no. This is optional.
7. In the Tags field, enter the preferred label to categorize your money.
8. In the Category details section, enter the expense info. In the Category dropdown, select the expense account you use to track expense transactions. Then enter a description. Tip: You can also enter specific products and services in the Item details section to itemize the expense.
9. Enter the Amount and Tax.
10. If you plan to bill a customer for the expense, select the Billable checkbox and enter their name in the Customer field. Learn more about billable expenses.
11. When you're done, select Save and close.

You can also enter notes in the Memo field. These appear in the account register, on printed checks, and on reports.