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Editing business expense categories in QuickBooks Online
Choosing the correct QuickBooks category for your business expenses can be confusing.
Often when adding transactions from the bank feed you choose the wrong category, or want to change where you have posted an expense.
Do you need to reallocate the category you have added your business expenses to?
Fortunately it is very easy to change the categories if you need to – even easier than I thought it was! I found a quicker alternative to reallocating business expense categories and walk through the steps in this video
Still need help?
Check this out.
Editing Business Expense Categories in QuickBooks Online
Do you need to reallocate the category you have added your business expenses to? Choosing a QuickBooks category for your expenses can be confusing, and often when adding transactions from the bank feed you choose the wrong category or want to change where you have posted an expense.
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Let's go!Video Transcript:
Hi, Kerry here from My Cloud Bookkeeping. I was recently visiting a client; they wanted to reclassify where they’d categorized some of their expenses. Now, what I would typically do is go and open each of the expenses and then you change the category, save them and go on to the next one. They had a much faster way to do this. So, I thought I’d share that with you today.
So here we are in the sample company on the dashboard, if we pop across to expenses we can see a list of items, our expenses, that have been categorized; a lot of these have probably come from the bank feed. Now, previously if I was going to change any of these as I mentioned I would open them up and change them and save them again, this is so much easier. So, let’s scroll down, and here we have – this expense for Pam Seitz, we’ve postedt it to computer repairs, but you know, perhaps it was actually for some bookkeeping. So let’s have a look, and we’ll reclassify it because she’s our bookkeeper.
Chin’s Gas and Oil, here we have classified to utilities but maybe this was for automotive, so we’ll be changing that to be fuel—do we have fuel here–automotive fuel, very easy to do. We come down here, we have Robertson and Associates, that we’ve classified to lawyers, let’s just say there are accountants. So easy, isn’t this fantastic! So anytime that you’re wondering how to correct things you may even want to sort it by payee because perhaps everything that you’ve put to books by Bessie as accounting and bookkeeping, you might want to change all of those. Insurance or look at this one–miscellaneous, this possibly should be insurance. Obviously, check to make sure that what you’re doing is correct, but it’s a great way to change things through very quickly and then, of course, you can run your report, check to make sure everything makes sense. Wow! Doesn’t that make life so much easier?
You have any questions, by all means, reach out. There’s an appointment link below, write a comment in the comment box, click like, subscribe to my channel, and sign up for my newsletter. Anything else you want to know about, be sure to let me know, and my next video could be for you.
Cheers!
Video Transcript:
Hi, Kerry here from My Cloud Bookkeeping. I was recently visiting a client; they wanted to reclassify where they’d categorized some of their expenses. Now, what I would typically do is go and open each of the expenses and then you change the category, save them and go on to the next one. They had a much faster way to do this. So, I thought I’d share that with you today.
So here we are in the sample company on the dashboard, if we pop across to expenses we can see a list of items, our expenses, that have been categorized; a lot of these have probably come from the bank feed. Now, previously if I was going to change any of these as I mentioned I would open them up and change them and save them again, this is so much easier. So, let’s scroll down, and here we have – this expense for Pam Seitz, we’ve postedt it to computer repairs, but you know, perhaps it was actually for some bookkeeping. So let’s have a look, and we’ll reclassify it because she’s our bookkeeper.
Chin’s Gas and Oil, here we have classified to utilities but maybe this was for automotive, so we’ll be changing that to be fuel—do we have fuel here–automotive fuel, very easy to do. We come down here, we have Robertson and Associates, that we’ve classified to lawyers, let’s just say there are accountants. So easy, isn’t this fantastic! So anytime that you’re wondering how to correct things you may even want to sort it by payee because perhaps everything that you’ve put to books by Bessie as accounting and bookkeeping, you might want to change all of those. Insurance or look at this one–miscellaneous, this possibly should be insurance. Obviously, check to make sure that what you’re doing is correct, but it’s a great way to change things through very quickly and then, of course, you can run your report, check to make sure everything makes sense. Wow! Doesn’t that make life so much easier?
You have any questions, by all means, reach out. There’s an appointment link below, write a comment in the comment box, click like, subscribe to my channel, and sign up for my newsletter. Anything else you want to know about, be sure to let me know, and my next video could be for you.
Cheers!
Still need help?
Check this out.
Editing Business Expense Categories in QuickBooks Online
Do you need to reallocate the category you have added your business expenses to? Choosing a QuickBooks category for your expenses can be confusing, and often when adding transactions from the bank feed you choose the wrong category or want to change where you have posted an expense.
Let's go!Still need help?
We have what you need. Check out our courses and free resources to get more help managing your finances.
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