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Hi all,Please forgive the newbie question for someone new to business and recording everything digitally, instead of using a spreadsheet.I recently started using Quickbooks Online to record all my income and expenses relating my business that accepts PayPal. When I've entered Sales Receipts for my sales, for example $100.00, I've entered as received $100.00 (including GST), even though PayPal took their cut of $2.60.In total for the month of February, I paid total of $300.00 (example) in PayPal fees. When do I record these fees? I'm guessing it's in the reconcile option?I'm very late to start recording everything so really rushing to get everything completed before BAS lodgement date. But since PayPal is GST free, I don't think it's required to include on BAS, I hope! Just required in terms of reporting Profit & Loss? Thanks in advance everyone :)
Hi, How can I record a purchase of a fixed asset (bus) with a loan? The loan was deposited to our daily abnk account from a financial company, part of the loan was used for purchase the bus and the rest of the loan was used to pay for bus registrations and other fees. The loan was deposited to our bank account, how can I record this & other transactions? Thank you
Hello, I am new to Quickbooks Online. I have the Quickbooks Self Employed Lite. I am only on the trial at the moment. I just added my business banking account and it is only importing my deposits. It is not showing any transfers or transactions where I bought items. The business bank account is with NAB. Does quickbooks only import deposits? Do I have to manually add any other transactions?... This is going to be a pain if I'll have to manually add every expense transaction. I would have thought that Quickbooks would import every bank transaction- not just deposits. Am I doing something wrong or is this how Quickbooks works? Thank you and I hope you are having a lovely day.
