• From: Texas, USA
  • Registered: 02/02/2019
  • Posts: 11

Topic: How to record admin expenses on accrual basis?

Hello,

I'm working with an accountant to use FA for my real estate business. He's learning his way around the system and asked me a question. He wants to know how to record admin expenses on an accrual basis besides using journal entries. I'd appreciate it if someone could help answer this for him. Thanks.

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: How to record admin expenses on accrual basis?

Explain how you wish to treat admin expenses on accrual basis.
Normal journal entries should suffice.
Otherwise, if inventorable goods are used and wish to be tracked, then open a sales order and keep adding to it and keep delivering it in part and when all are done, "invoice" it by allocating from an equivalent credit note for self expenses.

apmuthu's Website

  • From: Texas, USA
  • Registered: 02/02/2019
  • Posts: 11

Re: How to record admin expenses on accrual basis?

I have a real estate business so it's all service related and there's no inventory. For example, recording a monthly property management fee expense. How does one record that and expenses like that without a journal entry or is that the way to do it? He's used to Quickbooks and other software and was expecting to find a menu option, like Sales for income, to record expenses. Thank you.