Expenses & Suppliers
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Okay So I have a vendor who charged our credit card lets say $5000. They billed us for $2000 and I have another invoice sitting on account for $1000. So it looks like this(5000.00)-2000.00-1000.00So they now owe me $2000 back How do I post this $2000.00 Credit that they gave me on my credit card. I hope I explained that corretly. So I have a credit sitting on my account for $5000. and they applied $3000 of it to outstanding invoice that are sitting on account and then send me a refund of $2000.00 to my credit card. So I am not sure how to apply this or post this.Once I go and take the credit of $5000 and apply to the two invoices it leaves me with a $2000 credit sitting on the account and they sent me a refund but how to I clear this? Sorry I am explaining in many ways so anyone reading will hopefully understand my task. CheersSherry
I recently made a capital purchase of equipment in which I traded off existing equipment. There was no financing, just a cheque payment. How do I make a journal entry to credit the full value of the equipment to my "Equipment Asset" account and debit the old equipment? How do I account for the cheque payment of the difference in prices when the asset is the actual value?
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Hi all,I am trying to figure out a way to manage vendor returns. Usually, we would create an RMA to send items back to a vendor and then record the credit once approved and issued by the vendor. So, far I have tried the following without success.1. Created a new PO template called return goods but you cannot record a vendor credit to an existing PO2. Existing PO will not allow for negative amountsHas anyone found a solution to RMA on QB Premier Desktop?Thank you
Hi I am wondering if I can alter the remittance temp plate? I noticed their is a signature line on the remittance slip when I send to vendors to say I have made a payment to them. It is confusing my vendors. So is their a way for me to remove this line? Thank you Sherry
Is it possible to automatically update all of these past entries, there are close to a thousand. Or do we need to do it by hand?
We have a vendor that requires us to add funds to our account to be used at a later time. The funds are added using our corporate credit card, and then used later on for different services. Once used, we'll need to move the funds used from our prepaid expense account to the correct expense account, or in some cases, sundry receivable since some transactions are billable to our customers. So, we need to be able to keep track of those deposited funds in QB, and then distribute the funds later on as they're used. I'm trying to figure out if there's a way to record all of the necessary entries through the Expenses section of QuickBooks Online. Creating Journal Entries requires a lot of extra paperwork/review that really isn't necessary for what we see as a pretty straightforward transaction. Let's assume I deposit $100: Dr. Prepaid Expense (Other Current Asset account) $100 Cr. Credit Card $100 Later on, let's say I use $50 of this for a service that is going to be booked to ou
I contact tech support for help with QuickBooks Self Employed on or about Dec 31. It wasn't working (saying my email wasn't registered, but it was). After a long session of troubleshooting, the agent (who seemed much more interested in me leaving a good review for him than in solving my problem in a reasonable time) said it was a known bug, and I would be contacted in a few days with a solution. It has been more than 2 weeks, and no further response. The feature still isn't working. When will this bug be fixed? It is a large reason why I bought this product.
How to record the following invoice items for the paid real estate license fee? The real estate agent has PREC.The main concern is mandatory life insurance premiums and PST charged on it.Thanks a lot.
Hi, I have a waste oil collection business and i would like my drivers to be able to enter the quantities collected at each stop they make. Is there a way for them to do this through the app (with their mobile) but without having access to all other company financial information ? Thanks
Total amount: $97.91 less $75 in store credit = total: 33.69 which includes $4.90 GST and 5.88 PST.
I have supplier (in my accounts payable) to invoice with hold backs until a project is complete. I want to create a retainage account so that I have a subledger & aging of these balances by supplier. I've seen this discussion:https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/how-do-set-up-a-retainage-payable-account-that-so-that-you-can/01/234404#M14070But that just creates another liability account and doesn't provide the subreporting that I need.Does QBO not have this ability?
how can I enter an expense (such as property taxes) and use it to decrease the amount in 'Due to Shareholder'?
I use my vehicle for both business and personal. How do I enter the business portion only in QuickBooks? I pay all my vehicle expenses through my personal accounts because my vehicle is used mostly for personal. I do not want to reimburse myself, I simply want to just record the business portion according to the tax laws and percentages of allowable deductions.
I'm struggling using the receipt capture feature. It seems that many of my pdf receipts don't upload properly and are not recognized by QB and I need then to do a lot of manual entry to make it work. Is this expected? Is the OCR just really poor or am I doing something wrong?
We are an electrical contractor using QuickBooks Enterprise Desktop. We maintain an inventory of both generators and motors. I would like to track these items in Inventory by Serial Number, so that when on is sold we can select it from inventory based on the serial number of the motor or generator that was sold. I have turned on the Advanced Inventory Tracking and entered a few purchases of motors. Motors can range very drastically in cost and sales price. I then also created an invoice for the sale of one of the motors, which is where my problem is. It appears QuickBooks will expense the inventory item at the average cost or standard cost, but not by the cost of the item specifically associated with the serial number selected. It also will price the item at a standard price, instead of being able to apply a standard markup to the cost of the item associated with that specific serial number. So for example, if you purchase
Our supplier deposited a handwritten cheque. I need to apply the supplier credit to it through the bank but I do not have that option for som odd reason. How can I process this?
I have a supplier receipt with the purchase of one item and the return of one item. The return was greater than the purchase so the difference was put back on our debit card. QB bankfeed shows this difference as received. What is the best way to be able to reconcile the bank feed with the supplier transactions?
I was trying to track my costs of a project, After I entered vehicle purchase expense under project, the project overview does not show the costs. I don't know why. The cost of vehicle is associated with the project
It appears the US version of QB desktop is compatible to work with a receipt scanner.... Where is Canada in this? As a bookkeeping firm that speciallizes in "shoebox clients" I need that feature and any chats with Canadian support folks has been useless. Are there any bookkeeppers or accountants that have had success with a receipt scanner and QB Premier Accountant Edition?
Is it possible to batch enter multiple expense transactions WITHOUT manually creating a bill, cheque, or credit card charge, bill, or invoice for each one? I am trying to like Quickbooks Desktop enough to keep paying for it, but I am finding it even easier to just Excel to batch record transactions. Oddly enough, it doesn't seem to realize people still pay for expenses with a debit card, wire transfer, EFT, etc. Does Quickbooks Desktop just assume every non-credit card expense involves a bill and making a new payable? Also, is it possible to completely disable the check feature? I am an accountant coming from CaseWare and am trying to appreciate QB Desktop as a less expensive alternative, but it is extremely frustrating to do things efficiently (e.g., enter transactions).
