The Quickbooks Item and Expense Tab Differences | Liz Callejas | Skillshare

The Quickbooks Item and Expense Tab Differences

Liz Callejas, Lets Get Down to Business, Lets Learn QuickBooks!

The Quickbooks Item and Expense Tab Differences

Liz Callejas, Lets Get Down to Business, Lets Learn QuickBooks!

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1 Lessons (10m)
    • 1. QuickBooks Item and Expense Tab

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About This Class

There is a moment in time when you are using QuickBooks, that all of sudden you notice the Item and Expense Tab. You ask yourself, what is the difference? Which should I use? Have I been using the wrong tab all along? Oh No!

This video will help you answer your questions and clarify any doubts you may have. 

Meet Your Teacher

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Liz Callejas

Lets Get Down to Business, Lets Learn QuickBooks!


I have been a bookkeeper for over 15 years, a tax preparer for 4 years, and a Quickbooks ProAdvisor for Over 4 years. I own a bookkeeping business, Bookkeeping Dynamix, Inc. I will share with you how to use Quickbooks for your business as well as some business and tax information to help you in your business. Enroll today to learn more!

As a bookkeeper for small businesses I want my clients to know how to use their QuickBooks file. I started creating videos on How To’s and Tips & Tricks for QuickBooks. I have various tutorials on my website and also on my Youtube Channel. I hope that you find the answers to your QuickBooks Questions here.



Liz Callejas


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1. QuickBooks Item and Expense Tab: Hello, everyone. This is list with the sea QuickBooks training in today's video. I'm going to talk about the difference between the expense tab in the Items tab and what the differences when we record our transactions. Now, I've created a bill and I've created an expense tab with same my chart of accounts. And I've also expensed it to a job because in an expense to have you can expense to the job . So what is the difference between this expense tab in items Tab? I'm going to be showing you on QuickBooks desktop for contractors. But the same thing applies to QuickBooks online. If you enter a bill you can see here is expensed have under category details. But if you go further down, you can see your items down here. So you the the idea is the same in quickbooks online. OK, so we're going to be talking about difference for those two. So let's get started now. What is the difference? Well, I can tell you in one word reporting. So we're going to look at some reports of how QuickBooks takes in the items tab and how it takes in transactions on the expense tab now after that. Then we can discuss, you know, we can talk about what would go into expense a little bit and one would go into the items. Okay, so let's go. I have saved some reports and let's go on germ reports and memorized reports. I'm going to take a look at items Estimate versus actuals first. So just to review, I did a bill under a job under the expense step for 500 and I didn't I'd I'm going to the same chart of accounts and I did it to the to the job. Same job. Okay, so let's go back and look at the items versus actuals. Now. This is a report to look at your estimate, your job estimate versus your cost of the project. Now I see Onley consulting on Lee the 100. This would be the items I do not see the $500.1 this girl down a little bit and see if it's further down and it's not there. So in this report, where you're comparing to your income, your cost to your income, it's on Lee going to show the items, as you can see here, would click on it. There's the bill. It doesn't say that, you know, the total bill is $600. It's on Lee showing $100. This is the actual versus estimates, and this is when you're comparing your cost to your income. Let's take a look at another report. The next one is job costs by vendor and jobs summering, and it's right up here. Now this one does show $600. Let's take a look at this. It shows 500 the 100. Now it's not comparing my costume. My income is just letting me know the cost to a job and buy vendor. So that's why it's showing both items or both transactions or both tabs. So let's click on the bill. We can see the 100 here in the expense of 500 to the same job. Okay, let's go to on the next report. Let's go to cost to complete by job. And this one is comparing your cost against your income and I see $100 appear the scroll down a little. I do not see anything else in this report. I don't see the 500 but as you can see if you're going to job If you're If you have jobs or projects and you're keeping track of your income and your keeping track of your expenses, you really want to use your items because it will give you the most detailed reports. Now you may say, Oh, well, I don't really need to have to track my cost against my income. I would think about that because later on, you may want to track your cost against your income. Or you may want to know certain, um, cost for a certain project. And that report will only pull up items. So and I'll give you example. Had a customer, a cleaning customer, that we started just doing just expense tap doing the subcontractors under expense tab under the job. Perfect. Great. It's we job cost it under the job. I can pull certain reports, but then they're like, Oh, I want to know what um, subcontractor does the monthly cleaning service. I want to know what the, um system contractor does on janitorial services or things like that. So they were asking for reports that required the items tab, which we could not. I could not provide So it's very important that you think about how you're going to track your jobs and set it up correctly the first time. Let's take a look at the next report. Um, let's see, the next report is job profitability detail. Just look at that. So this is the profit and loss, Um, for the project by item, this is John profitability. So it's going to give me what I made, what the job made as far as the items go. So this is what I built my customer and on the same item is what I what? The job costs me under that item. So as you can see, consulting is appeared. The $100 the items tab. Now, if we scroll down, there is the 500. But there is no item, so we don't know what that is. This report will show you the 500 the 100 again. It's all about comparing to your income. So if we want to know what this was, this item is or this transaction, we would have to click on it and look at it. And as you can see, the 100 is not under here because it's under the item. This is not an item, but it is expense to the job so we can see it there. But we don't know the details of that transaction of what item it goes to. We're not comparing it to the income and see if we made money at a out of that certain item . Okay, One last report. Um, let's see profit and loss by job. As you can see, it is in here if you're not comparing your cost to your income and you just want to know what it costs you on that job, you can use expense to have and it will come up. The 600 comes up and it breaks it. You know, we could see here 500. It's 500 expense tab and its job cost. It's put into the job, but and even the 100 is in there. But we're not comparing the cost to the income. We just want to know what this project made, which is this. But again, you you need to think about what reports you will eventually want. Even if you say, Oh, this is perfect. This is all I need. But Then again, you may change your mind down the line and say, Oh, I want to know how much I spend on excavation or how much I spent on drywall. Or how much money did I make on, um, plans or, um, anything. Anything related to a job? So what kind of transactions would go into the expense tab? Well, if we go back to the bill, let's take a look at this in the expense tab. I can put my overhead. I could put, um, maybe things that small jobs that don't require, um, job costing. Those are the kinds of transactions I can use the item of expense taps for. But if you're using inventory or if using job costing, you always want to use your items your items tab. Okay, so that is what I wanted to show you in this video. Please give thumbs up if you like this video. And also don't forget to subscribe to my channel for more how to tips and tricks in troubleshooting from QuickBooks. And I will see you on the next Web