Quickbooks Online Journal Entry vs Expense
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- čas přidán 19. 08. 2023
- Quickbooks Online journal entry vs expense, is there a difference between the two? These are 2 very different ways of entering transactions into Quickbooks, but is one better than the other? Is a journal entry better than entering an expense in Quickbooks Online? Or is it better to enter and expense instead of a journal entry in Quickbooks Online?
Quickbooks Online journal entry vs expense examines the difference between the two and shows you what goes into recording each one. I also discuss the benefits and drawbacks of each. Quickbooks Online journal entry vs expense will show you the best way to do it in Quickbooks Online!
www.QBUniversity.org/Masterclass - discover the 4 simple steps to master Quickbooks
@QbuniversityOrg
I appreciate many wonderful lessons.
May I ask some question about how i update an item price automatically by bill date?
I work using QB desktop.
I received invoices (bill) from vendors. It has all different dates. For example, I’m talking about an item price change in a bill.
There’s a one bag of brown onion 🧅 $40 dated 8/23.
So I entered a bill dated 8/23 and bill has an item price $40 so I updated qb for $40 brown onion 🧅
and then I need to enter a bill dated 8/9 and it has $30 brown onion bag.
When I try to enter a bill, qb shows automatically brown onion is $40 and I often update as $30 manually in a bill and it doesn’t apply automatically. So I also have to go manually item list to modify $30 but since bill 8/9 has $30 and 8/23 $40, qb brown onion must show $40 as a recent price. But it ended up $30 old price and it is not correct to identify a market price. change.
This is essential because my boss wants to see all recent price change in all vendors to save his expense to buy produces for his restaurant.
It’s too much work and I know qb has great features to make work easy so I think I’m feeling stupid doing manually.
Also thing is i really want to know regardless of mixed old bill and new bill,
I want qb to know and update automatically a very recent item price update.
Let’s say, when I enter bills in qb, i physically organize in order so I start entering a bill from old date to new date, so new date will be showing very recent item price in QB.
But is that possible for QB to know even if I start bills with recent date to old date, can QB item price be left very recent price?
@QbuniversityOrg
Hi.
I think I have to ask simply. Sorry for trouble if any.
I use qb desktop at work and I have so many bills (invoices) from all vendors.
My boss often asks me item prices so he can compare which vendor has cheaper price.
I enter bills to qb. For example, I was entering one bag of carrot 🥕 at $50 and a bill dated 8/10
To update a carrot $50, I have to go item list to input $50 manually.
And then next bill I enter, bill dated 7/20,
a carrot 🥕 price was $35
When I drop down a carrot to enter 7/20 bill, qb automatically shows carrot $50
and if I go item list to change a price $35, qb just recognizes a recent price is $35 but actually recent price should be $50.
How do I do that?
Do I always have to organize bills in order from old date to new date for correct recent price in qb ?
I believe in qb will know what date of bills I enter, qb will automatically notice and record very recent price update and does not keep old price as recent price.
I have no one to ask. I went to accounting class online by discord but the instructor wasn’t knowledgeable and couldn’t answer my question.
😢
Please don't stop making videos, you are the best at this. It's so easy to understand what you explain
Thanks! And I won’t. Have not done one in a few weeks. Been busy with tax season!
super helpful, Thank you
You’re welcome!