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In this tutorial, Liz Basara, CEO of Financial GPS, explains how to convert an expense to a bill payment in QuickBooks Online. She addresses a common situation where an expense may not be connected to a bill due to automatic rules in banking. To convert an expense, users need to locate the expense and click on it. A bill icon will appear on the right side, and by clicking "add," users can enter the amount to complete the conversion. Liz emphasizes that the whole process takes just 30 seconds, making it efficient and straightforward for users.