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> Accounting Issue, Article in "Job Opportunities" pg 38
haroldt
post May 8 2016, 02:34 PM
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It was stated by John Ewing that you debit checking and credit fuel. I believe this is backwards. Debiting asset and expense accounts increases them. As I was taught you would credit cash/checking and debit fuel expense.
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John Ewing
post May 8 2016, 07:32 PM
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This might be easier to answer if you have posted it with the entry you're talking about. If you are purchasing fuel for Cash then you would debit Fuel (expense) and credit Cash. If you're purchasing with a credit card then you'd debit fuel and credit the credit card (Liability).

In the future when posting a response to a post do it in the post you're referring to - if I have an error I can then correct it. Finding it among the few thousand posts here without any idea where it is would take more time than I have to devote to it.





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quickbooks2016
post Jun 9 2016, 11:14 AM
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Read the rules - no links and no advertising. People here use Truckers Helper which is truck specific, not QB.

You are banned from making further posts here. We take the NO SPAM seriously.
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