The “Expenses” menu is intended to simplify the process of organizing and paying your business’s expenses. To this end, it contains a number of critical functions, such as updating your inventory, creating a database of repeat vendors, and adding and managing purchase orders. You can even link your bank account or credit card and pay your bills directly from the dashboard.
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Too many small businesses have money coming in from sales but no real profit. However, a business that uses the Profit First method of bookkeeping will put aside profit on a regular basis and control expenses. | QuickBooks Online
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The “Expenses” menu is intended to simplify the process of organizing and paying your business’s expenses. To this end, it contains a number of critical functions, such as updating your inventory, creating a database of repeated vendors, and adding and managing purchase orders.
Miscalculating your expenses or falling behind with payments could have disastrous consequences for your business. Any accounting software worth the purchase price should therefore be able to tell you everything you need to know about what you owe and who you owe it to at a glance.
QuickBooks have taken this crucial consideration into account (no pun intended) when designing QBO’s intuitive layout. Anytime you enter a new bill or invoice, it will automatically pop up in your “Expenses” submenu, where you can then pay it at your leisure without having to navigate elsewhere. Once you’ve paid the bill or invoice, documenting the transaction is as easy as verifying the payment from your bank using the one-click option in the “Banking” submenu.
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