Recording Money You Spent

Use Money went out for ordinary business expenses. Common examples include software, office supplies, advertising, professional services, rent, and business insurance.

Record an expense

Open Add transaction, choose Money went out, and enter the amount and date. Choose the bank/cash account or business credit card used for the purchase, then select what it was for.

If you genuinely cannot determine the spending category, choose Other business spending / Not sure. The transaction will be available under Needs Review in Transactions so you can correct it later.

A payment is not always an expense

Do not normally use Money went out for:

• money transferred between the business's accounts;
• money the owner takes for personal use;
• a payment toward a business credit-card balance;
• the principal portion of a loan payment; or
• a purchase that should be tracked through Equipment & property.

Use the specialized workflow that matches the event instead.

Credit-card purchases and payments

The purchase is where the expense occurs. If the business buys $100 of office supplies with its credit card, record the $100 purchase with Money went out, paid with that card, and categorize it as Office supplies.

When checking later pays the credit-card balance, that payment reduces checking and the amount owed on the card. It is not another office-supplies expense. See Recording Credit Card Payments for the complete example.