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Ask Your QuickBooks Question | Drop-in Session

Forum|Forum|4 years ago
December 9, 2021
107 replies
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Hello Community 👋

I wanted to create this space where you can ask your top-of-mind QuickBooks questions and our team will help you get an answer.

Topics can include and not be limited to; Banking, Self-Assessment, Reconcile, Transactions, Tax or Reports.

So, pop your question below and an expert can help you 👇

Best answer by Kurt_M

Hi there, @callumpearson28-. Let me assist you with your query.

I’m assuming you are using QuickBooks Self-Employed, they are using the simplified expense method (with flat rates) to calculate the allowable business expense for your car, van, or motorcycle. The rate is based on the mileage you drive.

Cars and goods vehicles: 0 - 10,000 miles - 45p
Cars and goods vehicles: After 10,000 miles - 25p
Motorcycles: 24p

You can refer to this article to know more about Simplified expense method.

If you want to do the calculation by yourself, you might want to give this link a visit.

Feel free to let me know if you need anything else. I'll be here to help. Keep safe!

Show previous replies

A

Andrew WA

Hi I'd like to configure/develop a report for projected year end position.

Based on a P&L report by month - where the projection year end position is sum of monthly Actuals YTD + Monthly Budget for remaining months to Year End.

Is this possible within QuickBooks rather then exporting as I'd like to use the built in class/fund filters and avoid ledger line alignment issues in exported reports.

Thanks in advance

M

matt brand

Hi Team

This has been mentioned before, but is there any reason why you cant change the financial year to start and end mid month?

Here in the UK nearly all of us use the 5th/6th April as tax years dates - It must be an easy thing to fix so I'm just wondering why QB can't change this.

I know I can manually change the reports, but it just means I can't look at or use my dashboard at all, because I want to be able to see my financial year :(

S

smyth3

Hi,

I want to integrate QB with my Ebay, Etsy, Amazon and website but I'm confused a little with the SKUs. I sell the exact same products on each of those platforms so do I use the same SKU that I used for a product on Ebay for the same product i sell on Etsy for example? or does each platform require unique SKUs?

So for example if I was selling the same hat on etsy and ebay would I need two unique SKUs like below:

EtsyHatWhite for selling on etsy

EbayHatWhite for selling on ebay

or would I just use 1 generic SKU for both sites like below:

HatWhite

I hope that all makes sense

Thanks

AlcaeusF

Greetings, @smyth3.

Welcome, and thanks for joining this conversation. Allow me to chime in and share information about SKUs in QuickBooks.

It is recommended that all your products and variants have unique SKUs/product codes set up. However, if you already have the same products in another system you’re connecting to, product codes should match corresponding products between systems.

If the source system detects that there’s no SKU or item code, QuickBooks Connector will automatically generate one. This may cause eCommerce products to not match with the destination system and thus affect the stock sync.

To know more about integrating your eCommerce with QuickBooks, you may check out this article: Prepare your eCommerce system for integration.

You can also visit our website for more tips and other resources you can use in the future. Here's the link: Self-help articles.

If you need further assistance with managing SKUs or anything else in QuickBooks, please let me know in the comment section below. I'm always ready to help. Take care and have a good one.

B

billing91

When I email an Invoice to a client they receive two copies. Is this normal practice ?

Adrian_A

Hello there, billing91.

You may have entered their email address twice thus, the reason your customer receives 2 copies of the email.

In addition to, if you want to set a reminder to an overdue invoice, you can check this reference: Invoice reminders.

You can always get back to me directly by adding a post/comment below if you have any other questions about reminders. I'll be glad to help you!

D

dogdayscornwall

Until a couple of months ago my Quickbooks balance and bank balance always balanced. I cannot find a discrepancy in my expenses or deposits. I have never reconciled my accounts as I've never needed to before.

M

MirriamM

Hello there, @dogdayscornwall.

I'm here to help fix the bank balance in your QuickBooks Online (QBO) account.

The QuickBooks balance is the total amount of all bank transactions you matched or added to the system. There are some factors that affect the balance of your bank accounts. These are the following:

Outstanding transactions
New transactions for a connected account
Duplicate transactions
Edited or deleted transactions
Credit card (liability) account

To rectify the issue, I recommend checking out the transactions added in QuickBooks. Then, compare them to your bank statement. For more detailed steps, I suggest following the instructions under Step 4: Review any discrepancy reports from this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

Once everything is corrected, you can now proceed with reconciling your account. Let me share this link for more insights into the process: Learn the reconcile workflow in QuickBooks. It provides information on how to edit a completed reconciliation.

Feel at ease to write a comment below if you have further concerns with reconciliation. You have my back to resolve this. Have a great day.

D

dogdayscornwall

I haven't ever reconciled my accounts...

L

LizUnderwood

Hello there,

I have tried to follow the thread.

I am in the UK and want to send an invoice in USD to a company I work for in the States.

I have searched this question and the answer is to go to the gear icon, company setting, but I do not have this option. Is this because I have the self employed account? if so, is there another way to do this?

Many thanks

Liz

B

BBF2

What happened to good old "repairs and renewals" and "plant and machinery" as purchase categories?

M

MirriamM

Hello there, @LizUnderwood and @BBF2. Thanks for reaching out.

As for your concern, @LizUnderwood, right now, multicurrency is not an option in QuickBooks Self-Employed (QBSE) UK version. In the meantime, you can manually convert the amount from UK (£) to US ($).

To learn more about how the invoice feature works in QBSE UK, see this article: Create invoices in QuickBooks Self-Employed.

And for your concern, BBF2, can you please add additional details about the purchase categories you're referring to? Knowing this information helps me provide the right troubleshooting steps to get this taken care of on time. For more information about the available categories in QBSE, take a look at this link: About SA103F Categories.

I appreciate you taking the time visiting us here today, and I look forward to your response.

B

BBF2

Hi, thanks for quick response.

Consider following scenario- I’m adding a recreation room to my work premises, how do I categorise:

the tiled floor ( fixed)

the pool table ( moveable with some effort!)

replacement table tennis bats

There seem limited choices in the drop down menu

Thanks

C

ClarkeCLS

Hi i've been using a separate personal bank account to run my business from, is there a way to connect this to QB as when i try its asking me for my business login details when trying to connect with my bank? Thanks

G

GeorgiaC

Hi ClarkeCLS, thanks for joining this thread - can we check which specific bank provider you're with? 🙂

A

Adam Donaldson

Can anyone help. I have simple bills (UK) with total amount, VAT and net amount. So far the only way that I've worked out how to bring the VAT amount into QB Desktop via the iif file is to have the total amount in the TRNS line and then two line items (SPL) - one with the net amount and the other with the VAT.....then import into QB Desktop and manually adjust the VAT code for the SPL with the net amount so that the VAT is automatically calculated, and then delete the second line item in QB that has the VAT code. This feels tortuous....the client will move to QB online in a few months but does anyone know an easier way to import total amount, net amount and VAT for a bill?

Thanks

Adam

E

EmmaM

Hello Adam, Thank you for reaching out to the Community😊 With IIF files we do not, unfortunately, offer any support . If you have the premier accountant version you could go down the batch enter transaction route which is in the drop down>accountant>batch enter transactions. We welcome any other users' thoughts of course on this thread if they have found a different quicker way to import these into QB Desktop.

D

Deb B4

Good afternoon

I have a query regarding reconciliation of a bank transaction. The transactions in QBs online are:

Supplier Credit 16/11/21 £13.79

Deposit 16/11/21 £13.79

Bill payment 23/09/21 £13.79

Bill 22/09/21 £13.79

Our statement confirms a bank deposit on 16/11/21 of £13.79

I have double checked the end balance figure as at 15/11/21. I can't understand why I had to leave this transaction unreconciled and wondered if you could help me? Thank you.

A

Ashleigh1

Hello Deb B4, so it could be because you are only reconciling up to the 15-11-21 so if your not reconciling that then it would show unreconciled until you get to that date for it to then be included.

D

Deb B4

Hi Ashleigh

I did think that may be the issue. Thanks for your assistance. Hopefully it will resolve itself on the next reconciliation.

Kind regards

Deb

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