QB Issue Resolution:
Auto payment is a reduction in loan liability plus an interest expense. It is not an expense all by itself. You need two things. An asset account for the purchase of the auto, and a loan liability account for the financing. When you make payment a portion reduces principal.
Resolution for Issue 'What expense category is automobile payment?' available: Yes (Solved).
Source: Intuit Community forum.
What expense category is automobile payment?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.
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Error Recovery for automobile payment [Canada]
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