i want how to record expenses in quickbooks

You can also visit for more insights that Bernard has been sharing with us in the previous episodes.In order to easily invoice a customer or client for reimbursable expenses, you first need to make sure your QuickBooks installation is properly configured for this task. If you need help configuring QuickBooks for unique situations like this, contact Bernard today. Keep in mind that the credit card or bank account where you paid the bill from will still have the accurate balance and show that the money left the account since you did pay the bill.This will ensure QuickBooks shows the expense on a monthly basis based on those separate transactions entered, rather than a single expense in the month the bill was paid.You can do this by manually logging the transaction monthly, or by setting up recurring transactions to occur over the time period that you are trying to effect. On a monthly basis, deduct that month’s expense from prepaid insurance balance sheet account to the insurance expense account.This gets the expense into QuickBooks, but does not log it as an expense that affects profitability yet.However, rather than recording the bill to a normal insurance expense account, record it to a prepaid insurance balance sheet asset account. Record the expense as a bill like you normally would within QuickBooks.Using the example of an insurance bill that you pay once per year, below are the steps on how to record an annual expense on a monthly basis. How To Record Annual Expenses As Monthly Within QuickBooks This ensures that the profitability of your business is accurate throughout the entire year, rather than having a single large expense in January.

The expense should be spread out evenly over the lifetime of the service such as a monthly expense throughout the year.If you make a purchase in January for a service that is used throughout the entire year, this expense should not only affect January’s profitability.

I want how to record expenses in quickbooks