Keeping track of receipts is important for accurate bookkeeping and expense management.
In QuickBooks Online (QBO), you can upload receipts either with the mobile app or within the software. Then, edit and match receipts to existing transactions.
In this post, I’ll walk you through how to edit and match receipts in QuickBooks Online. I’ll also show you some issues you may have when managing receipts within QuickBooks.
Quick Instructions:
Keep reading for a complete walkthrough with screenshots:
Why Managing Receipts Matters
Whether you use QuickBooks to manage your receipts or another software (my preference is Hubdoc), managing receipts digitally offers multiple benefits:
- Accurate Expense Tracking: Ensure every receipt is accounted for and categorized correctly.
- Time-Saving Automation: Match receipts to existing bank transactions without manual effort.
- Tax Compliance: Proper receipt management creates a reliable paper trail, reducing stress during tax time or audits.
- Eliminate Paper Clutter: Upload and store receipts digitally, so you never have to search through piles of paper again.
How to Add Receipts in QuickBooks Online
Follow these simple steps to add receipts to QuickBooks Online:
Step 1: Navigate to the Receipts Tool
- In the left-side menu, click on Transactions
- From the dropdown options, select Receipts
Step 2: Upload a Receipt
Once in the Receipts section, you have multiple ways to upload your receipts:
- Upload from Your Computer:
- In the blue box, click Select files.
- Select the receipt file from your computer and upload it to QBO.
- Drag and Drop:
- Drag a receipt file from your desktop directly into the upload area.
- Forward Receipts by Email:
- QuickBooks provides a designated email address where you can forward receipts. You can find this email address in the Receipts section under Manage settings. For Receipts use the Expenses email address.
- Use the QuickBooks Mobile App:
- Snap a photo of your receipt using the QuickBooks mobile app, and it will automatically upload to the Receipts section for review.
Reviewing Uploaded Receipts in QuickBooks Online
For this example, I used the mobile app to upload the same receipt twice. I did this to show you some of the issues you may encounter with receipts in QuickBooks.
QuickBooks did not realize that it was the same receipt. It also has a different description and category for each receipt; for one, it could not find the amount.
On the far right is a Review link and a drop-down arrow. When I click the drop-down, I can Delete or Find a Match.
This receipt is from a personal expense, so there’s no transaction within QuickBooks to match it with.
Clicking Review opens the Review details screen.
From here, I can add any missing details and fix any mistakes.
When ready, click Save and Next.
Again, it will try to find a match. I don’t have a match, so I’ll click Create expense.
A client asked me about adding tags to expenses created from receipts. Unfortunately, there’s no option to add tags when reviewing the receipt.
If you’d like to add tags you’ll need to open the newly created expense and add it there.
To open the new expense, click the magnifying glass icon at the top of the screen. Then click the Expense at the top of RECENT TRANSACTIONS list.
On the Expense screen, you’ll find the Tags field. Add the tags you’d like, then click Save and close.
Best Practices for Managing Receipts in QuickBooks Online
No matter what method you use for receipt capture to keep your receipts organized and your books clean, follow these best practices:
- Upload Receipts Regularly: Avoid a backlog by uploading receipts as soon as you receive them.
- Capture Clear Images: For receipts scanned or photographed, ensure they are clear and legible to avoid errors.
- Match Receipts Promptly: Regularly review and match uploaded receipts to bank transactions to prevent duplicates or mismatched entries.
- Categorize Consistently: Use consistent expense categories to keep your reports clean and accurate.
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Below is a video if you prefer to watch a walkthrough.
If you have questions about managing receipts in QuickBooks Online, click the green button below to schedule a free consultation.
