Expenses & Suppliers
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There are same expenses every month. I want to premake them so I can just click and select them instead of typing every time. Is that possible?
I posted this in another thread but that thread has already been answered and only partially applies to my question here, so am starting a new question here. I switched to QBO in January. So far so good. However, up until now I have been using a single credit card for all credit card purchases, whether business or personal. I have auto downloaded my banking to QBO, but given I use the one CC for biz and personal I haven’t set up auto download of the CC statement yet. To date: let’s say I have a CC monthly of $10,000, with biz = $7000 and personal = $3000. I have paid the above split amounts from both a business ($7k) and a personal ($3k) account. When recording the bank statement I then split the $7000 into the respective categories (store supplies, office equipment, fuel, hst paid etc to a total of $7k). I can see where it would be advantageous to have only a business CC, however that probably isn’t in the cards right now. However if I download the CC stateme
Ok, I have been investigating for about 7 hours now and still no clear solution, this is also the second time I post the question because the first 'answer' from QBO team did not fix my problem since I still see an open balance for the supplier even though they have payed everything and I should see zero. My supplier charged my credit card with 402.48 then refunded me on the same credit card with 0.07 since the bill was for 402.41. I have two banking transactions, same BF supplier, done on the same credit card:One for 402.48 SPENTOne for 0.07 RECEIVED This is what I have done in QBO: 1. Created a bill for 402.41 for supplier BF2. Made a payment of 402.48 on that bill of 402.41 - so that I can match it to the 402.48 from my banking downloaded transactions2.a The payment of 402.48 was applied to the invoice but I got this message "This transaction will create an additional credit in the amount of $0.07", this means that the supplier will owe me 0.07, that is fine
I recently was in the Pay bills part of QB Desktop and was checking off invoices to pay and also using a few credits from the vendor againt the bills being paid. I made an error on posting. I went back and voided the payment to re do it correctly but now all the credits applied are used up or gone, they did not revert, they stayed applied against the bills. So now I cant even pay the bills that credits were applied to because the credits stayed applied even though I voided the original bill payment. How do I get the credits back to apply them to the correct invoices?
this is the first time it happens. what can I do?
I'm very new to bookkeeping. Just joined in the last 2 months. So I apologize for the basic question. With Canadian companies, when there's no tax mentioned or it's a foreign invoice, how do I enter it in? As one example if they spent $100 on meals in the US and we're charged tax of say $10, how would I enter that into the books? And alternatively, what if a Canadian contractor sent them a bill for $500 but didn't charge tax how would that be entered? Keep in mind there's various tax options that sound similar to me:E (0%)Exempt (0%)Out of Scope (0%)Z (0%)Zero-rated (0%)My goal here is to have a default tax code in mind to minimize thinking each time.
I sometimes have transactions where the totals are a bit off and I don't know how to handle that. QB doesn't mark a bill as paid unless the amount is the exact same so I don't know what to do in those cases. So the most annoying transaction I have every month is a relationship this client has with their sister company. Every month there's a loan to this company, as well as a payment for services rendered. My client usually pays in two payments, but the breakdowns of the payments aren't the same as the subtotals. And the total doesn't match. So I don't know how to handle that? Let me illustrate by example. Loan to company: $5KInv from same company: $7K Payment 1: $6KPayment 2: $6100 So as you can see here, the subtotals are different, and the final total is slightly off. The reason for the final total being off is because of the FX. But anyway, how would one handle a transaction like this?
I have one company set up but want to set up another on qucikbooks online - how can that be done?
