Expenses & Suppliers
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Hi, I recently started utilizing the feature in QuickBooks online where you take a picture of a receipt and then review it later to record the expense for the books. The issue is that I am using my personal credit card and some of my personal cash for these expenses which means I have to put the expenses to Accounts Payable and use myself as a supplier. So when I put the accounts as accounts payable it comes up with an error stating I need to put the expense to another account. This is quite ridiculous considering it lets me record it this way when I am manually entering the receipts. This feature seems pointless if it is only letting me put the receipt towards a bank account / credit card account, no? Any way I can bypass this? I would really like to utilize this feature as it is very convenient to take pictures of my expenses (receipts).
I want to pay an expense by ACH. However I do not wish to pay full balance at one time. Know how to do that with a check, but when i try to do with and ACH...the full balance due keeps popping on the the screen. Anthony
I've jumped into a QBD that has old vendor credits that are no longer legitimate. What is the best process for clearing these.
The problem that appears is that whenever I go to enter a bill for a product, the quantity multiplied by the cost does not equal the amount. We have found that it goes up by different rate, this one is for every 100 cases, it adds 1 cent, for others there is for every 50 cases, it adds 2 cents. Can you help resolve this problem
HI ! When I used an online connector to connect my Shopify store to QB, it created an expense account Shipping (instead of using the Shipping Freight Delivery account that was already created). I did not notice this for a few months. Meanwhile, shipping charges were added to this account. When I wanted to finish the year, I realized that, as a bonus, this Shipping expanse account added the charges in the negative, so it actually decreased my expanses of 3000$ and thus increasing my revenue of 3000$. So to correct it, I create a journal entry to transfer the account to the correct Shipping Freight Delivery account, but it added it in the negative, so my problem was not solved. So, I decided to create a 'sale' of 6000$, which corrected the problem. Now this was for the year 2019 and everything is done and final. Now that I am starting to work on 2020, I realized that I have an undeposited fund of 6000$ in the Bank deposit section, so I actually cre
I'm trying to figure out which is the correct currency option to select when setting up new international vendors with multicurrency settings enabled on quickbooks online. Is it the currency that the vendor originally invoices me in or is it the currency in which the money actually leaves my accounts? For context my situation is below: I have a supplier who is based in the United States and invoices me in $USD. I'm based in Canada and a pay the invoices online using a Canadian credit card that is set up in $CAD. The credit card company makes the conversion from $CAD to $USD, adds their fees, and when the time comes I pay the credit card bill from my bank account in $CAD. Meanwhile my supplier has received their equivalent $USD payment. On my bank feed in Quickbooks the amount spent for this transaction in my credit card account appears as the amount in $CAD, just as it appears on my credit card statement. For this example when registering the vendor in Quickbooks would I set
Hi, I have a question recently I sent an amount of money to a vendor, and overpaid them because I received the bill later on. So I overpaid the bill by $22.39. So there is a credit now sitting on the vendors account that says a negative balance of minus 22.39 on the vendors account. In other words they owed me that amount of 22.39 back..SO I recieved a cheque from them later for the refund. How do I apply that amount in quickbooks?
I am the owner of the company and used my personal credit card to pay a vendor. I am trying to record it into Quickbooks, but several methods I found did not work for some reasons. So I created a bank account called Owners Reimbursable, and enter the credit card payment as a credit into the "Owners Reimbursable" account and use that to pay the bill that was entered in the quickbooks. Company then write a check to me for the payment. However when pull the report for the company profit and loss, the "Owners Reimbursable" account is not included in the report. What did i do wrong and is there any simpler way to make the entry easier and have the correct report?Thank you.
I have a suggestion - Quick books needs to validate the bill number as a duplicate when you enter the bill number - its dumb that it tells you you have already entered this bill after you have entered everything and try to save it - it should tell you the bill number already exists as soon as you enter the bill number - argh!!
I have quickbooks desktop premiere addition.I want to be able to keep track on what payment methods my vendors accept. I have looked but can not see where to put that information.Anyone have an answer?
When loading my expense receipts into quickbooks it makes my amounts more and is difficult to split because amounts then differ. Is there a setting I need to adjust?
I am pretty experienced in quickbooks but I am having a difficult time with a client. He wants me to keep track of his inventory financials (not so much the units in stock or out of stock, just the amount of expenses related to inventory). He wants to find his ending inventory and profit/loss. However, he does not have (nor wants to purchase the QB plan that includes inventory tracking). He handed me over all his inventory related invoices and they are already included in the bank transactions on QB (his account is already linked to Shopify and his banks). My question is what would be the best option to keep track of inventory financials, I am not sure if I am overthinking it but if anyone can share advice that would be great.
I manage a few companies. One is like a financial company and ended up being a mortgage holder for one of the other companies. I'll use Company A as the financial company and Company B as the company paying the mortgage. Same owner for both companies and he moves the money via EFT. For me to keep track of all the mortgage payments between the 2 companies, Company A bills Company B. I had to reverse a mortgage payment back to Company A two times due to expenses that came up with Company B and there wasn't enough money in the account to cover the bills. When Company A transferred the mortgage payments back to Company B, I used the "Make Deposit" feature. So now 2 month's of mortgage payments that were paid, now are not paid. How do I reverse the bills so that they show unpaid. Do I have to void them and re enter new bills or is there a better way of keeping track of this?
Hello! I purchased various business assets with a loan and installment payments from Affirm.comMy question is: How do I write that off as a Business Asset when I have partial payments? On the asset section, they're showing as separate transactions. Is that right? Thanks in advance!
