Account management
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I need recommendations on how to setup a club soccer teams chart of accounts and how to account for income and expenses. We have 11 teams and each team has 11-18 players. Each team holds their own fundraisers and I need to be able to see an account balance for each team.Each team has team expenses for things like tournaments or equipment they want to purchase from money they earned.Each team will need to account for how much each player has paid and how much they owe for team expenses.We also need to track how much a player receives from club scholarships because of their family’s inabilities to pay (this is for grant purposes) Thanks in advance!
Hi. The company I am working with had a prior entity (LLC) and they have moved to an S-Corp as of 1/19. Their prior bookkeeper did not open a new set of books with the new entity. The issue I'm having is, there are old liabilities and equity accounts related to the old entity that we need to be zeroed to have an accurate reflection on the balance sheet for the corp. There should only be two current assets: Initial stock purchase of $1000Loan to third party There should not be any existing liabilities. I have tried making adjustments but no matter how I slice it, either the liability side or the asset side are unbalanced. Any ideas on how to "restart" these accounts in the chart of accounts?
I tried adding the custom field column to the invoice thinking that would solve the problem on the report. When I did this, it does not populate the info we assigned to each item, it provides a drop down menu to select info. Seems like the double the work when we have already assigned the data to the item in inventory list.
How can I enter already paid invoices into Quickbooks? We have been creating our own invoices and sending and I would like to start doing that through quickbooks. I would like to add all the invoices we have already sent and received payment for. Is that possible?
