Banking
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Someone help please! Newbie here, took me a bit to decide if QBO is worth it. I got done with setup, but noticed issues when I checked the balance sheet report--my checking account is a negative (I was told this should not happen)!First a quick background as this might be pertinent. I have an UMBRELLA business A, holding a PROPERTY business B (which hold a rental property). They both have their own checking accounts. So renter pays their rent, gets deposited to business B, then transfers some funds to business A, which pays off a HELOC/long term liability loan. Going from business B to business A, it is just recorded as (click of) TRANSFER of FUNDS for the appropriate business accounts. After rent payment, business B gets a deposit. But the transfer doesn't have any real entry? Not sure about terms. But then business A gets an expense in terms of payment of longterm liability/HELOC. I think this is causing the negative in the business accounts. Appreciate the help in advance!
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Hey guys! I've messed up on a reconciled transaction. I entered the wrong amount on a deposit (typed $652). Went in and deleted it and corrected it (was suppose to be 604). Reconciled the new transaction in my register. Now when I go to reconcile it says my beginning balance is off $47. How do I go about correcting this?
I have a large company who switched from Sage to QB in January 2022. There were no accountants involved in the setup of the company. When the new Chart of Accounts was set up, no one entered the bank rec information of opening bank statement balance, and outstanding bank transactions. Thousands of transactions have been recorded before I arrived on the scene and tried to do a bank rec. I cannot enter an opening bank statement balance. I follow the links in the chart of accounts section, but there is no way to actually enter it. I have spent over 3 hours on the phone with QuickBooks support. They clearly have no idea how to do this, as they told me to make a journal entry into cash, and a credit into shareholders equity. Even if this was correct from an accounting point of view, it still doesn't add it into the bank rec area as a bank statement balance, nor does it include uncleared amounts. Can someone tell me how to enter beginning
I am using QBD 2020 Prem R13Unfortunately the bank changed the details of the downloaded bank transactions, removing payment details and replacing them with the transaction date. Now I don't have any idea what those transactions are for.The problem is that QB automatically defaults a payee and an account to those transactions, even though I had not assigned a payee and account to the new download transaction format.My question is, what list of payees and accounts does QB use to assign them to the bank transactions? I checked all the list that I know off, but have not found the one QB uses for downloaded transactions. I would like to delete all of them that QB does not use any defaults.Here is a screen shot how the bank transaction screen looks like (the screen shot does not have any sensitive information) Can somebody show me where the payees/account list is kept?
I have several of the same bank accounts that I named different names and I had them as inactive. I finally was able to make them active and now I want to disconnect them all except for the current one that I'm using, but I can't figure out how to do that and QBO is pulling the payment made to the credit card twice each month from two different of these previously set up bank accounts. How do I clear all this up?
My company has 9 employee vehicles and a separate loan for each vehicle. Before I came here the loans were inputted as one liability under company truck financing in 2018. I want to put each one into the loan management tool but am unsure as to where to begin. -Do I have to set up each truck loan with its own account under chart of accounts?-Unsure how to find how much was paid to each individual truck loan as the old system before I came was to just post everything as one payment into the truck financing account. Any help would be appreciated. Once I get started I should be in good shape but am confused on how to set the loans up.
Good day, We have been having a crazy time at work and I have just now been able to do a bank reconciliation for the month of January. We have a chequing account we use for pretty much everything, a high interest savings account for large deposits, and several smaller fund accounts that basically just collect interest. Everything balanced out in all the accounts during the reconciliation. I printed reports, and I am now reconciling the chequing account for February. However, there are several transactions from January showing up in this reconciliation...these were deposited into the savings account early January which I already reconciled. I double-checked and they are showing in the bank register for the account they were deposited in, so I don't understand why they are still showing up for this one. Is this normal? And if so how do I remove those items?Edit: I just looked at the register for the chequing account and these items are also showing there, under Accounts Re
1 bank account has no deposits showing in register but do show on reconciliation. Other 12 bank accounts show their deposits in register.
I recently connected to my bank account (I had previously manually recorded all deposits) when I connected to Quickbooks Cash - but now my bank register is double counting the received payments. For example - if I go to the bank to deposit five separate checks for a total amount of $5,000 - later Quickbooks will show the deposit as DEPOSIT REF #0 for the amount of $5,000. But then I have to confirm that the five invoices were received (manually recording which invoices were depoisted, etc - to show payment received) - which then shows a manual deposit in the register of an additional $5,000. How do I confirm "payment received" without also inputting an additional amount? Otherwise, if I don't manually input that the payment was received - Quickbooks will show all those invoices as overdue?
The account is fully updated and I've checked "for review", "categorized", and "excluded" for the dates in question.
Bank of America credit card transactions not showing up
Online on a few days-don't like. Only one transaction made, but banking did document some payments.
Hello, The transactions for Chase and other accounts were once being downloaded, now nothing. 1) I have reconnected2) Hit Update3) Used a Diff Browser (several)4) Disconnected & Reconnected and still nothing. What is the actual solution to get transactions into QB. This has become more time-consuming that it use to be. #Help
How to use money in cash account
Hi, trying to set up a credit card in QB online chart of accounts which should be easy but there is no “Credit Card” in the “Account type” drop down menu. There is only: Cash on hand, Checking, Money Market, Rents Held in Trust, Savings and Trust account. Everything I’ve read online and watched (YouTube) says to select “Credit Card” but it’s not there. This issue hasn’t come up in any search either = very frustrating! Please help! Thank you!
After downloading bank transactions into QuickBooks for Mac (using version V18.0.9 R10), and select a Payee, it often auto-populates with an incorrect Account and Class. How do I change the Payee Autofill both their Account and Class to the correct/preferred values? *I Googled the heck out of this before posting.
