Well, the answer is simple but will be given in 2 parts. People who are searching to create an expense account in Quickbooks also find it useful how to create a new expense category. Thus here is how you can create a new category within QuickBooks.
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How to Create an Expense Account in QuickBooks
If you want to track your expenses and keep a record of where your money is going, you need an expense account in QuickBooks. An expense account is a special type of account that lets you track your spending and categorize it according to the type of expense.
- Login to your QuickBooks account and locate the gear symbol.
- This you can find on the top of the navigation bar.
- From the dialogue box that appears, click on the chart of accounts tab.
- Now you will be able to see the “New” clickable button.
- If you are not able to locate that already then check out the top right-hand side corner of your screen.
- Now just follow the steps that appear.
- If you don’t know how to set up your expense account then it is advised to take help from your accountant.
Now let’s Check out how to Create an Expense Account Within QuickBooks
- Login to your company profiles within QuickBooks.
- Now click on the vendors tab and click over the Bills tab.
- Here you will see the list of vendors.
- Choose one from the list. If you don’t see the list already then you would have to click on the down arrow under the bills tab.
- Now enter the details in the required fields and enter the due amount in the respective field.
- Enter the reference number if you already have one.
- But if you don’t, then simply skip the steps.
- Now click on the expenses tab and from the drop-down menu, choose your desired due amount.
- Save all the changes made and close the window.
Need further help on how to create an expense account in QuickBooks then give us a call at the QuickBooks helpline number.