To add expense transactions to the ledger each month, start on the Banking tab
Wilson Associates is our landlord. Our rent is paid automatically through Bank of America. When the check clears, it appears on the Banking screen. When a charge appears from Wilson Associates for about $6,065:
- Click the transaction
- Ensure the category field is 6007.1 – Rent. This should be preset, but it’s good to check.
- Change the Memo to say “Rent for [month]” where month is when the check is being cashed.
- Leave other fields blank.
- Click Add
Many purchases from Amazon are made each month To add Amazon purchases in Quickbooks Online:
- Click App transactions near the upper left side of the screen
- When transactions appear on this screen to be categorized, we can review the items ordered in Amazon.com’s Orders platform. Open Amazon.com in another tab or window and Click Your Orders.
- Review each transaction and take note of the memo in the PO number field. In this example, it’s Events Offsite.
- Back in the Banking tab on Quickbooks Online, use the category field for the item(s) purchased, select the most appropriate account code (with a 0000.0 style account code)
- If a program is listed (Woodshop, Laser, Metal, etc.), select that same program’s Materials account code (e.g. Metal Working Materials)
- If a Community Benefit Program activity is listed (500 filters, mask distribution), you may select 5012 Community Benefit Programs. This is the only time it’s okay to use a four digit account code for an expense
- If a general/administrative program is listed (office supplies, equipment, computers), search for the most appropriate category.
- In the memo field, enter the order date in the format “December 2 order,” and click Add.