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Recording Accounts Payable Transactions

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Within QuickBooks, you have the option of working with or without an accounts payable account. If you want to, you can record expenses when you write checks. This means that to have a complete list of all your expenses, you must have recorded checks that pay all your expenses. This approach works fine — and, in fact, is the approach that I’ve always used in my businesses.

QuickBooks also supports a more precise approach of recording expenses. By answering a few questions during the QuickBooks setup process, you can set up an accounts payable account, which is an account that tracks the amounts that you owe your vendors and other suppliers.

QuickBooks 2022 All-in-One For Dummies

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