how should I maintain my bank account in quick books?
vpdps asked:
I have a small business and i do business with a bank checking account for my business. In quick books, to pay a monthly electricity bill, should I debit the electric company and credit the utilities account or credit the cash account?
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Loading ...Tags: Business Checking, Checking Account, quick books, small business accounting, small business quick books
You debit the utilities expense account and credit the cash (checking) account.
The electric company will simply be the “vendor”.
Hope that helps. :0)