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Hi, I had, let's say, $100 USD in a term deposit in January, maturing November. I create a journal entry for $100 as an asset and $100 as liability due to shareholder. Upon maturity, some interest was deposited to my chequing account, OK. But I want to remove the $100 asset and liability from my books because I took that $100 and returned it to shareholder. But when I do a transfer, I get a remaining balance in CAD even thought the USD value is $0. Every month, I revalued the currency, and because of that, every month there was a gain or loss on paper. Since the exchange rate in November is different from all the revaluations and exchange rate on the original date of purchase, now I'm left with a balance in CAD, equal and opposite in both the asset and liability accounts. Of course I can probably make a journal entry to clear both out, but isn't there a more elegant way to manage this? It's annoying how QBO always reports everything in
Hello everyone, I was using Quickbooks Selfemployed for tracking mileage last year, but after the trial ended, I stopped using it. However, I do need to access that data again but Quickbooks won't let me as I'm not on a subscription any more. Is there any way to access the data without getting a selfemployed subscription?
I have a transaction, an expense, that showed up on the September credit card statement but have not been able to find it anywhere in the download feed. I was an August 10 transaction that showed on the September statement. The time it took for the supplier to process the purchase was much longer than usual. I checked with the company and the transaction was completed by them. I have read QBO documents on how to find it. So far I have- reviewed the 3 BANKING tabs - For Review, Categorized and Excluded- selected the Chart of Accounts and reviewed that Credit Card's Account History- selected the Chart of Accounts and reviewed the Uncategorized Expenses Account- reviewed the Audit Log to see if it was deleted or processedI cannot find it anywhere. Is there another step that I need to follow to find it? I really do not think it is in QBO.How do I manually add this transaction to QBO as I know it is a purchase by the company that needs to be posted. I think it will, also, cause an imbalance
The Credit Card used by the company collects points. They just cashed in some points and received a $1300 Rewards Redemption to their Credit Card account.Is the transaction a "Credit Card Credit" from the Credit Card?How do I process this transaction in the "For Review" tab?
Hello,Ideally would process in normal work-flow in each of system, that is parallel.Instead of Parallel Run after Conversion from QuickBooks Desktop to QBO - QuickBooks Online -is there any short-cut possible, like ONLY input in Desktop but then export from Desktop the Customer Invoice, Receipt, Bill, and Vendor Payment. And import into QuickBooks Online.Anyone familiar with such tools, and process, so that both are in sync.Thanks, Akhtar
Has this happened to anyone else?
I deal with a lot of one-off items that we order for our clients. I have been adding these as non-inventory items with the expense account Inventory Asset, the same as inventory items, and making them billable to the customer. Just wondering, when the item is invoiced, will it move the cost of non-inventory items from Inventory Asset to COGS the same as it does with inventory items?
BU file contains 8 .xlsx files such as General Ledger, Customers, Journal.
