Quickbooks 2022 Tutorial for Beginners - Difference Between Entering Bills & Expenses

QBUniversity.org - Quickbooks 2022 tutorial for beginners, difference between entering bills and expenses walks you through not only the difference between a "bill" and an "expense" in Quickbooks, but also HOW to enter both of them.
When you are using Quickbooks and entering information, you have to make sure you do it right or it can mess up your entire company file. One crucial thing to understand is the difference between entering bills and entering expenses, and how to do it RIGHT. It's a simple distinction, yet can have a huge impact on your reports. This video shows you how to do both to make sure you enter bills and expenses the right way every time.
Secrets revealed at QBUniversity.org

[@QbuniversityOrg]

Please leave a comment or question here!

[@louietoltolvlog9699]

If I need to purchase an inventory to vendor, I use purchase order then when I receive an inventory with an invoice, I enter a bill and choose an inventory for payment later. If I purchase non inventory order to vendor like sauce bottles and kitchen supplies, do I still need to enter bills with items to know remaining quantity ? (Not expense) If i receive an inventory and pay immediately cash or card or check (write a check), do I use receive inventory without bill?

[@BUNEZMATELLASMOUSSE]

How do you record cash expenses in Quick Book please 😢

[@skinnerjd7319]

saved me big, love the way i can understand the concept so easily since you explain so well

[@QbuniversityOrg]

Awesome thanks!

[@debrarhodes5714]

Very helpful.

[@QbuniversityOrg]

Awesome!

[@BUNEZMATELLASMOUSSE]

How do you record Expenses paid in Cash in Quick Book ?

[@user-et2el9hd8j]

How do you enter when you get a pdf of activity sheets from an Account that has 22 Credit Cards which, I uploaded into excel which each sheet was added on it's own tab within the file. Can this now be downloaded to QB to eliminate manually entering each transaction?

[@debrarhodes5714]

How do you correct an expense that was entered as a bill?

[@QbuniversityOrg]

Just delete the bill and enter it as an expense instead

[@TaraTedeschi-di2gq]

When entering the bill, which date is used when carrying over to the P&L? Is it the invoice date or the due date?

[@QbuniversityOrg]

On accrual basis it’s the invoice date. On cash basis it’s the date it’s paid

[@deniselobato3226]

I entered a bill in QB and It paid twice and I dated it to pay once but not twice. How does this happen?

[@QbuniversityOrg]

No idea, could be a number of things. I would see which payment is tied to the actual bill and keep that one and delete the other one

[@ferenzejoseph3940]

What happens if the company was set up wrongly since the beginning

[@The-meaning-of-life4u]

Thanks for your amazing videos, I have asked many times a question and still I didn't get a response. we are importing and exporting vehicles when I purchased a car, for example, 7000$ I didn't know how to add the shipping price of 900$ and clearance expenses of 800$ on the same car and some other expenses too? I want to know how much a car stopped for me! Note: I'm using QuickBooks desktop.

[@faithythera3911]

Did you manage to solve it. And how because am also stuck on the same

[@laurenp3658]

What happens if taxes for the company were filed previously but I'm wanting to start QB for the company from the beginning or start of the company?

[@QbuniversityOrg]

You can certainly do that you’ll just have to make sure the books match the tax returns

[@sherissemondoux3196]

When entering an expense through the register how does it track hst/sales tax?

[@QbuniversityOrg]

Do you mean sales tax you pay when you buy something?

[@youniqueboutique2134]

​​​@@QbuniversityOrgI'll say yes. lol. I created an expense account, naming it, Sales Tax. Your opinion, please. Which, by the way, I use within the register when entering expenses.

[@mimybyng1127]

If you have a bill for a truck payment, then you pay off that truck early, how can you end this bill so it doesn't come up as a bill owed

[@QbuniversityOrg]

If it’s a memorized transaction entering the bill go to the memorized transaction list and delete it