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I
inspeg@gmail.com
July 13, 2020
Question

I’m new to Quickbooks and started using it from my 3rd quarter. Where do I have to write the undeposited cash balance from the previous quarter?

  • July 13, 2020
  • 1 reply
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I’m new to Quickbooks and started using it from my 3rd quarter. Where do I have to write the undeposited cash balance from the previous quarter? Last quarter I financed my company with a few grants bank transfer. Now I'm transferring them back to my private account. How to categorize the transfer? Wherever i’m buying something from eBay, or Amazon without taxes, do I have to mark it as 0 tax “out of scope”, or “zero rated”? Is there difference between “supplies” and “office expenses” for my taxes at the end of the year?

1 reply

J
JamesM
July 14, 2020

Hello [email address removed], 

 

We're happy to have you join the QuickBooks family. It's important you know where to write the undeposited cash balance from the previous quarter. 

 

My goal is to make sure you're able to record your transactions the best way possible. Based on what you've described, I recommend checking this article here: Enter historical information. This article will show you how to enter historical information which affects your accounts. 

 

Knowing which tax code to use is a great way to prevent errors in your books. For more info on which tax code to use, check out this article: Common sales tax codes. I also suggest reaching out to an accountant to get expert advice on how to handle the transactions on your account. In case you don't have one, here's a link to our site. You can search for an accountant using your postal code or address. 

 

Let me know if you have other questions by leaving a comment below. I'll be on standby in case you need help. Otherwise, feel free to contact our support team using this link here. 

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