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Does anyone here use quickbooks?

BigMike

BrokenbikeMike
Jul 29, 2003
8,931
0
Montgomery county MD
So, I just downloaded the trial of Quickbooks because I heard how great it was to keep track of business expenses and such. I have it all set up, and I went to enter in some money I have spent on my corporate account, and for every Payment I make, it automatically makes a deposit for the same amount, making the balance $0.00.

I tried to put in a purchase I made at Target for $64.02 and it went in, and right under it, there is a deposit for $64.02 from Target. That does not help me balance my books.....

When I try to delete the deposit, it deletes both!

Anyone know whats up? I read through the manual and tried the help, and I'm doing exactly what it says to do!
 

geargrrl

Turbo Monkey
May 2, 2002
2,379
1
pnw -dry side
are you using the write a check window or the register to enter your payment?

I think if you are using the make payment window, you have to have your bill or invoice entered prior to making the payment.

I know just enough to barely stay out of trouble with this program.
 

BigMike

BrokenbikeMike
Jul 29, 2003
8,931
0
Montgomery county MD
are you using the write a check window or the register to enter your payment?

I think if you are using the make payment window, you have to have your bill or invoice entered prior to making the payment.

I know just enough to barely stay out of trouble with this program.

I tried it in both.

that doesn't make any sense if you have to do that!
 

BikeMike

Monkey
Feb 24, 2006
784
0
I know just a bit of QB. Are you writing a check, making a journal entry, or what?

If you wanted to make a journal entry to record a payment you made you would credit [account #whatever you call your bank account]; debit same amount to appropriate expense account.

The debit/credit terms can make it a little confusing.

If you post more details I can try again.
 

BigMike

BrokenbikeMike
Jul 29, 2003
8,931
0
Montgomery county MD
What I'm trying to do is build myself up from what I have done since 01/01/07 until now. I have made a few purchases on my AMEX, and with my debit card (basically a check)

I have two accounts set up in Quickbooks, one called AMEX Blue Cash, which is a credit card, and one called Wachovia, which is a bank.

When I try to put in a purchase from either one of them, it automatically zeros out the line.

here is an example, all I did was put in the first line, the -$64.02 and it put in the deposit to make the balance $0. same thing happens with my bank when I "write a check" so my balance never goes down.
 

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BikeMike

Monkey
Feb 24, 2006
784
0
It appears that I used a slightly different version of QB than you are using, so the limited QB knowledge that I have might not be all that helpful...but I'll give it a try.

When you go to "write a check" you choose your bank account at the top left. You fill in the information on the check, and in the bottom left there is another box for "account:" In this box, you select the expense account to which you want to record the payment. (example: top left box above check reads: "1000 Bank of America." I write a check to Pizza My Heart, for $80.00, on such-and-such a date, for a bunch of pizza. Underneath the check on the left side, in the box that says "Account," I select "6000 Staff Meetings" because the pizza was for a staff meeting) QB then records the expense, deducting the amount from the Bank account, and adding the expense to the running total for the staff meetings account (an expense account).

My first guess would be that you might need to create an expense account (or accounts) if you haven't already done so. You can have multiple "Bank" accounts, a bunch of different "Expenses" accounts, and other types of accounts, like "cost of goods sold" etc. If you're not selecting an expense account to debit, QB might decide to use your bank account, which you have just credited with an expense? Or are you having problems with reconciling(bleh!)?
 

BigMike

BrokenbikeMike
Jul 29, 2003
8,931
0
Montgomery county MD
Ahhh.... Thank you BikeMike! I do have Expense accounts set up, but the way the "checks" were being written, they were going back into the credit card. It was basically writing a check from the credit card to the credit card :rolleyes: I had to change some prefs to make it come out of an expense account.
Got it now though :)