How to Set Up Expenses in QuickBooks? Expert Guide Here

No doubt, QuickBooks is one of the most user preferred accounting software due to its easy to use platform, quick & efficient result, advanced options, multipurpose uses and the most of all regular improvement to its feature list as well as the interface.

One of the prime reasons why small businesses use QBs is so that can flawlessly track their expenses. QB is well-developed to manage all types of organization expenses, from writing checks to downloading bank transaction. Read further to know how you can easily set up expenses in QuickBooks Online.

Expenses Set-Up in QuickBooks Online

●        Sign in to QB Online

●        Go to Accounts and Settings and choose Expenses option present in the 4^th tab to reveal all the feature list that will affect your pay bill and track your expenses

●        Show Items Table On Expense and Purchase Forms

This feature will add a Service/Product table on expenses and various product forms so that the users can itemize services and products that they have purchased.

●        Track Expenses and Items By Customer

If the users purchase items on behalf of their customers and want to link those items to specific customers, then turning on this feature will add a Customer column on both expense and purchase forms.

●        Make Expenses and Items Billable

Users can select this option to avail the feature of adding a billable column on both expenses and purchase forms. This will allow them to add items on sales forms and billable expenses to charge customers for items purchased on their behalf.

●        Set Up a Items on Sales Forms

This feature is only available when “Make Expenses and Items Billable” feature is turned on. It allows users to set a default markup rate for items that they want to bill customers.

●        Track billable expenses and items as income

This feature is only available when “Make Expenses and Items Billable” feature is turned on. A user can choose this option to track income in one or multiple accounts.

●        Charge Sales Tax

If the user wants to add sales tax to customers, this feature needs to be turned on.

●        Set Up Default Payment Terms

Users can add default payment terms for all bills that they want to enter into QuickBooks. To adjust varying payment terms, they need to visit vendor profile.

●        Purchase Orders

Turn on this feature to send purchase orders to your suppliers.

For queries, dial our QuickBooks Support Phone Number with 24/7, 7 days a week and 365 days of year availability.

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