Banking & Currency
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How do I fix a bank deposit module that has a journral entry in it that is not the result of a banking transaction but is an adjustment made to adjust the Undeposited Funds GL account to zero. The entry credits the Undeposited Funds GL account and debits an expense account in order to match the balance in the Undeposited Funds GL account to the actual undeposited funds on hand. This journal entry is different from the typical type of entries that are seen in the undeposited fund account. Can this entry be removed from the bank deposit module without deleting it from the GL and without depositing it? ( I can't deposit it anyway because it is a negative amount and even it was a positive amount depositing it to a dummy bank account would not fix the problem because the entry would be Dr. Dummy Bank Account and Cr. Undeposited Funds which would return an amount to the Undeposited Fund GL account.) The reason I don't want to delete the entry is because it
How do I record the .01? Is there a way in QuickBooks to automatically record it?
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Trying match shows no transactions. Record as transfer or add doubles the balance in the new account. I could not find a way to start the new account at a $0 balance
I have a US dollar trading account which I have to reconcile in US dollars each month. I need to convert transactions such as stock purchases and sales as well as dividends in Canadian dollars for income tax purposes. When I run the Balance Sheet report for my fiscal year, the balance amount for the US dollar trading account does not agree with the balance I see in the chart of accounts. The balance sheet uses the original Canadian dollar amount transferred from the bank, rather than the converted USD amount that shows in the bank transfer record. How do I trade in a USD account and still create reports for tax purposes. Thank You,Wayne
In reconciliation, my beginning balances ending balances and ending date are correct. All transactions selected match the bank statement. But my Payments amount is less than $7512! Need help, Please
My company (a Canadian company) bank accounts include both Canadian and US dollar accounts. Year-end balance sheet is reported entirely in Canadian dollars .... but the US bank account amount ($34,xxx USD$) is reporting as over $70,xxx CDN$. This is not correct - and the CDN equivalent should be closer to $42,xxx CDN $ based on exchange rate at year-end date. This indicates some ongoing problem with the exchange rate (provided by Quickbooks) over the course of the year. My auditor wants me to adjust the Balance Sheet amount on the US account without changing the actual US$ amount on the bank account line. I do not know how to do this. Can it be done?
Hello again!I have searched but I have not found an answer that seems to work. My question is pertaining to Credit Card Interest being refunded by the Credit Card company. We were erroneously charged interest fees on two of our cards. After determining that it shouldn't have been charged, the original charges were reversed by the CC Company, but it wasn't for two billing cycles. I need to figure out how to account for this. I thought by making a general journal entry, it would reverse it for me, but now the interest charges that were reversed are showing up in my Unpaid Bills Report. Which obviously they shouldn't be. The journal entry that I made was:Visa Account (dr) $$ Accounts Payable (cr) $$ (Name is Visa AP)This made it so that I could reconcile my cards yesterday, so I'm worried about changing anything that will change those reconciliations also. Any help is very much appreciated. Thank you 
I have Desktop Pro. I have both a CDN and US bank account. When i transfer funds from US to CDN (or the opposite) it shows up as the same amount in both accounts even though there is an exchange listed. This is a new problem, it didnt happen before.
I receive different results when I click on an e-transfer sent on the 26th and when I click on a supplier charge on the 26th. Shouldn't all outstanding/unmatched results show up every time?
Hi,When I did AP home currency adjustment , most of Vendors was adjusted successfully, but only one vendor cannot be saved and it shows that problem occurs and cannot be saved and suggest trying later. Does anyone have this problem and solution to it? Thanks,
Set up Direct deposits?
Hi, My boyfriend just started a fishing business and I am doing his bookkeeping. He just purchased a fishing boat and I am not sure how to document the purchase. I added the full price of the boat into quick books as property, plant and equipment. We got funding to cover about 20% of the purchase and he also put a down payment on it, so I am confused on how to document that part. Thanks !
Quickbooks received a payment, the payment is not showing up on our bank account.
The bank has not updated its info with quickbooks so their old url is all quickbooks seems to recognize. Is there a way to override this and enter a url?
An EFT was made to our bank account incorrectly and will be reversed by the bank. How do I enter this in Quickbooks or do I ignore it as it will be a wash even though it might span two periods (deposited this month, reversed next month)?
I have a few questions about QBO multicurrency when dealing with exchange fees and exchange gains/losses. To begin I've described my Scenario below: - My business is based in Canada and my home currency in QBO is Canadian Dollars (CAD). Multi-currency is enabled in my QBO account.- I sometimes purchase inventory using a Canadian credit card (based in CAD), from a US based supplier and I'm charged for that inventory in USD . I pay for the inventory all up-front at the time of the purchase.- At the time of purchase I'm also charged a 3% conversion fee by the credit card company for completing the foreign currency transaction. Their fee is factored into the exchange rate they offer me - it does not appear as a separate charge.- When recording the purchase transaction in QBO, I adjust the exchange rate to reflect the actual exchange rate I was charged (vs the default exchange rate in QBO) and record it as an inventory purchase.- I then sell the inventory from my US supplier and I'm al
