QuickBooks Online vs QuickBooks Desktop: Expense – Gentle Frog Bookkeeping and Custom Training

This is part of a serial comparing QuickBooks Online to QuickBooks Desktop. I ’ ll be showing you how to do common tasks in both versions of QuickBooks. So you can decide which version would work well for your business. In this mail, I ’ ll show you how to record an expense in both QuickBooks Desktop and QuickBooks Online. An expense is when you spend money on supplies or services for your business. Recording expenses in both versions of QuickBooks is a little different depending on how you paid for the expense.

We ’ ll start with Desktop .

Record an Expense in QuickBooks Desktop 

Debit Card / Check

To record an expense in QuickBooks Desktop that was paid for with a debit card or arrest. Click the Write Check picture on the right-hand slope of the home page. The Write Checks icon in QuickBooks Desktop In this exercise, I ’ thousand going to pretend that I used a debit wag to buy $ 50 worth of position supplies from Staples. Recording an expense in QuickBooks Desktop In the Bank Account drop-down menu you select the bank account the money is coming out of. pay to the club Of is the person or business you ’ ll be paying. Staples in this model. The bridle number gets entered adjacent to NO., there ’ mho besides a field for the date and the come. A decent thing about either version of QuickBooks is that it auto-fills the category if it recognizes the seller. In this example QuickBooks recognized Staples. It auto-filled in Office Supplies as the category. QuickBooks Desktop auto suggesting a category for an expense If the category it suggests is incorrect you can change it. Click the drop-down arrow and select a different category from the tilt. Selecting a new category for an expense in QuickBooks Desktop

Credit Card

To record an expense paid for with a credit card. On the home page click the Enter Credit Card Charges picture. To enter an expense that was paid for with a credit card in QuickBooks Desktop you click the Enter Credit Card Charges icon The next screen door is similar to the Write Check riddle. The biggest difference is that there ’ s no option to select a Bank Account. alternatively, you ’ ll alone be able to pick from Credit Cards you ’ ve saved in your QuickBooks history. Selecting a credit card when recording an expense in QuickBooks Desktop This makes it harder to by chance record a credit card leverage as a debit poster buy. I ’ ll embark a $ 50 Staples agency supplies expense like I did previously. When I ’ molarity done I click the Save and Close button at the bottom of the riddle. Entering a credit card expense in QuickBooks Desktop

Record an Expense in QuickBooks Online

Like QuickBooks Desktop there are two ways to record an expense, Expense or Check. Check is obvious, it ’ second for anything that you paid for with a check. expense is where you ’ vitamin d record an expense that you paid for with a credit card or cash. You can record a debit calling card purchase in either, I prefer to use expense .

Check

To record a hindrance in QuickBooks Online click the + New clitoris in the upper leave corner. then blue-ribbon Check under Vendors. Recording an expense as a check in QuickBooks Online. You ’ ll be able to pick the Bank Account the check was written from. You can then enter a check act and there ’ s an option to print the discipline later or you can print it nowadays. Check entering screen in QuickBooks Online You can enter debit circuit board payments here. I prefer to only use Check for expenses that I paid for with a physical check. For everything else I prefer to use expense .

Expense

To record an expense that for was paid for with anything bedsides a forcible check. Click the + New button in the upper left corner. then choose Expense under Vendors. Entering an expense in QuickBooks Online Most of the time we ’ ra not handwriting checks to pay for expenses. We ’ ra using the debit or the credit card. In Expense you have the option to select a payment from your credit card, checking account ( debit menu ) or even junior-grade cash. Selecting the payment account in Expense in QuickBooks Online once again I ’ ll enter a $ 50 expense for position supplies from Staples. QuickBooks Online besides remembers and auto-fills categories and descriptions. It auto-filled both the class and description in this model from the last time I entered a Staples expense. Entering an expense into QuickBooks Online There you go. That ’ s how you enter expenses in both QuickBooks Desktop and QuickBooks Online. They ’ rhenium exchangeable but they do have their differences.

As I go through this series comparing the two versions of QuickBooks I want to emphasize that neither software is better or worse. But you may have a preference for one over the other. Feel free to comment and let me know which version you prefer. If you ’ d like to watch me walk you through this comparison check out the video below :

source : https://www.peterswar.net
Category : Finance

Related Posts

How to Calculate Credit Card Interest Rates

interest rates are one of the ways to work out how much it will cost you to use your credit card, along with other charges and fees….

What debt collectors can & cannot do

If you are dealing with a debt collector, you have protections under the law. A debt collector must not mislead, harass, coerce or act unconscionably towards you….

Can You Afford a New Home? How to Determine Your Homebuying Budget

Can You Afford a New Home? How to Determine Your Homebuying Budget As with any major purchase, determining what you can afford before you look for a…

Why Did My Credit Score Drop?

Why Did My Credit Score Go Down When Nothing Changed? sometimes your mark does change based on factors outside of your control, but most times your behavior…

Why Do I Owe Taxes To The IRS & How To Avoid Them

Are you wondering why you owe indeed much in taxes this year ? Want to make certain you never owe a big tax bill – or any…

The 5 reasons why your credit score might suddenly drop

Select ’ s editorial team works independently to review fiscal products and write articles we think our readers will find useful. We earn a perpetration from affiliate…