Quickbooks 2019 Tutorial for Beginners - Difference Between Entering Bills & Expenses

QBUniversity.org - In this Quickbooks 2019 tutorial for beginners I walk through the difference between entering a bill and entering an expense directly to your check register.
I get a lot of questions about when you should enter a bill vs when you should just enter an expense directly in your check register, and this video clears this up and walks through how and when to enter both types of transactions.
There are 3 other primary mistakes most Quickbooks users make. Learn how to avoid them with my 3 free videos at QBUniversity.org

[@victoriali2217]

Finally, someone explained when to use Enter Bills and Write Checks. I was so confused.

[@risviaishan]

Thank you very much. you saved my time

[@QbuniversityOrg]

You’re welcome!

[@gabesendejas4034]

This helped so much. Thank you!

[@QbuniversityOrg]

You’re welcome!

[@peterread2150]

Thank you the video explanation on recording merchant fees. Can you clarify how to deal with the associated invoice received from Stripe for the fees please? Does this get recorded as an expense? As Stripe is in Ireland and I am in the UK it is subject to the Reverse Charge VAT here.

[@Mymusicfmw33]

I am entirely new to QuickBooks Premier with Enhanced Payroll!! working for a newly opened Asphalt manufacturing company. To say I’m a bit intimidated is putting it mildly. I’m not even sure which to download to my computer. I’ll be referring to QBU frequently.

[@QbuniversityOrg]

MS Cellaneous fantastic! I’m glad the videos are helpful!

[@maryborriello713]

we are converting from an old AP system to Quickbooks enterprise 2019. our checks are "STUB/CHECK/STUB". Will that be an option when we go to print check from AP?

[@cagneynelson6010]

We have started a using Quickbooks for our construction company. I have a question about entering bills. We have entered bills for supplies and materials bought on our credit card. ( I know now that we should add these translations under CC charges) I’m now trying to reconcile the CC translations. The translations I put I as bills are not showing up in the cc register. How do I fix this? These translation do need to be applied to invoices to be billed out.

[@nerflingerone5579]

Thanks!!!

[@QbuniversityOrg]

You’re welcome!

[@abame9132]

Hi-- Your tutorial was very good. I do not have a bank account attached. I am just wanting to list expenses in the categories that I will use for taxes and list my income same way. I was able to follow thru the checkbook register. When I go to the expense list I can not find the listing for all the entries under that expense account and see that list. Is there a course for that?

[@QbuniversityOrg]

Alanna Brand I’m not 100% sure what you are asking but it sounds like you may be looking for the chart of accounts?

[@patc.1745]

Great video. We are a small property management company. Vendors send us an invoice for work once work has been completed. Should that be entered under Accounts Payable or just as an expense? I have been placing all bills that come in under expenses (electric, gas, vendor invoice etc.). How do you know when to disguish between the 2 or do all the expenses fall under AP?

[@QbuniversityOrg]

Pat C. If you get a bill to pay later, enter it as a bill (AP). If it’s a current expense you are paying now, like a debit card transaction for gas, then enter it as a current expense. In this case, since the work has not been performed I would almost enter it as a PO then convert it to an invoice when they compete the work and you get billed

[@Mymusicfmw33]

BTW, desktop version.

[@Arlo.Alira.6]

This was really quick and to the point. I appreciate that.. My only question... I'm adding in Debit purchases (gas and office supplies) Just as you explained and underneath where I'm putting the "type" as Debit once I enter it then puts CHK underneath..I'm using the 2 line format.. Is this just because of where I'm inputting these purchases?

[@QbuniversityOrg]

Yep, and it should be perfectly fine

[@maryklimowicz9167]

I paid some bills by printing checks and also did a payroll. All the payroll showed on the check register, but some of the vendor payments did not. I am very confused about this.

[@QbuniversityOrg]

are you sure that the account used when paying the bills was that checking account?

[@rogeliomaldonado4745]

How do I log business expenses related to advertising? For instance I purchased advertising signs and stickers for my business on eBay. How do I go about logging these expenses? Thank you

[@QbuniversityOrg]

rogelio maldonado you can just enter these directly in the check register as an Advertising expense

[@fernandomlarrea]

Thanks Matt for the explanation, but in the check register I cannot put the tax that pays for the purchase

[@QbuniversityOrg]

You would not need to. The tax is part of the overall purchase

[@Mymusicfmw33]

Your video helped me very much. I’ve been entering bills and paying using the workflow. Yet when I run a balance sheet, many of the bills paid are showing up under the accounts payable account (pending payment...not yet paid etc). But they are paid and do not appear in the correct expense account. I can’t figure out what I did wrong or how to fix. I can see the billpmt-check next to the vendor name.

[@QbuniversityOrg]

MS Cellaneous did you check the date range on the report?

[@Mymusicfmw33]

The Quickbooks University Yes. I entered date range All. All my paid bills are still showing up under account 20000 (acts payable) in my check register rather than the account I applied it to in Enter Bills. Yes I did pay via Pay Bills and printed checks. I’m scratching my head raw trying to figure out why.

[@QbuniversityOrg]

MS Cellaneous oh ok I see what you are saying now. This is actually right because when you paid the bill you reduced Accounts Payable. Go to your Accounts Payable register to see what each individual transaction did to the various accounts

[@Mymusicfmw33]

The Quickbooks University Oh, ok. Now I get it. Sorry for not figuring this out myself. Accounting is new to me. Lot to learn. But I am enjoying the learning.

[@QbuniversityOrg]

MS Cellaneous no worries and I’m glad you’re learning!

[@dougtepe]

trying to separate out business and person not put all in one sheet for taxes please advise.

[@QbuniversityOrg]

doug tepe well don’t mix personal and business into one Quickbooks file going forward. To separate it out you may have to either class all the transactions or export to excel and take out all the personal

[@erikabrown619]

I need to find a tutorial on how to post transactions of all types.

[@QbuniversityOrg]

Erika Brown ok. Not sure you will find one tutorial that shows you everything. My paid training program at qbuniversity.org shows you everything starting with the basics. It is 47 videos

[@princezinc4773]

I want to know if I reconciled the Bank statement one time is it possible to do again, please let me know

[@QbuniversityOrg]

You have to reconcile each month. To rereconcile a certain month you would have to “undo” the previous reconciliation and then re do it

[@danielleacosta2950]

I just finished watching this video, but it didn't quite answer my problem. I use my bank's bill pay website to actually pay the bills. I am using Quickbooks to track/enter receipts and make tax deduction reporting easier when it's time to file. Is there any way to show bills as paid on my Quickbooks account even though I don't use the pay bills feature or check register in Quickbooks? I currently have $9601.82 showing in the red overdue tab, but they are all bills/expenses that have been paid by outside means during the months of January and February. Please advise?

[@QbuniversityOrg]

If you pay them online you would have to either show them as paid in the check register and not use the Pay Bills function OR use the Pay Bills function and don’t enter them separately in the register

[@sadhanagupta9546]

Hi sir if i had created an expense then will it also add in creditor's balance?

[@QbuniversityOrg]

if you add an expense for a vendor it will show as paid under that vendor. It won't show as a balance due to that vendor since you already paid it

[@impactodelsurenterprise2440]

Can you still track job costing or do a billable item for the client if you use the check register function?

[@QbuniversityOrg]

No because in the check register you cannot assign it to a customer or job

[@impactodelsurenterprise2440]

@@QbuniversityOrg Actually I just found out you can. Just use the split option and the new columns for costing and billable will appear.

[@QbuniversityOrg]

@@impactodelsurenterprise2440 ah yes. Doing that you sure can. Good catch!

[@reneemorton4290]

I need your help, I had the CEO withdraw funds to purchase supplies for the non profit service, and in quick books I set it up as EFT withdrawal in their name. Now we are receiving the items in house as personal inventory, do I need to show in the system what those funds was used for?

[@QbuniversityOrg]

Renee Morton yes you do. You will probably Need to do a journal entry that reverses the amount shown as to him and also records the various expenses

[@reneemorton4290]

@@QbuniversityOrg thank you for your response

[@QbuniversityOrg]

Renee Morton you’re welcome!

[@DarrenMoore71]

What if I get a bill and pay it immediately. Would I record that as an expense or bill? Is there a reason why I would not just pay the bill then enter it as an expense?

[@QbuniversityOrg]

You can but the issue could be if the bill is for a prior period and you enter it as a cash basis expense in the current period. If you run financials on an accrual basis you are not getting an accurate picture

[@roserechayito]

Does this automatically make a journal entry?

[@QbuniversityOrg]

It does behind the scenes

[@avinashjagdeo]

Bill's go through accounts payable. Straight expenses don't.

[@QbuniversityOrg]

Nate Andrews yep

[@ThePlowGuys]

If I pay cash for business expenses how do I enter these?

[@QbuniversityOrg]

The Plow Guys how did you get the cash? Did it come from the business or your personal money?

[@ThePlowGuys]

@@QbuniversityOrg Personal money

[@QbuniversityOrg]

The Plow Guys watch this video kzbin.info/www/bejne/mJTVn6Z6gbOobdk

[@fernandomlarrea]

sorry I'm usin quickbook 2020