QuickBooks Q&A

Hello I use Quickbooks Payments/Checking because my customers can pay me quickly and I only pay 1% on the transaction. All well and good. The Quickbooks Payments page says "Bank payments are processed at a low 1% fee per transaction. The transaction fee is deducted from your deposit account immediately after the payment is deposited to your account." But this is not the case. Usually, it's a day or two until the 1% is deducted. And if I withdraw my customer payment before that, I'm sent an "Insufficient funds" notice when Intuit tries to take their 1%. This seems wrong.  Can anyone confirm that it works this way? Also, now that I owe the 1% on previous transactions where I transferred the fees out to my bank "too early", there seems no way to pay it! Why doesn't Quickbooks just withdraw the amount from the QB Checking account themselves? 

We are a small business that sells on Faire, a wholesale website. We receive multiple orders from different businesses each day.  Each business pays us separately, and the money is deposited directly into our checking account. We do not send them an invoice, since it is all automated from within Faire.  So, I have 2 options: 1. Set up each payment as a separate invoice. That means, creating on average 5 to 25 invoices in QBO a day. And then when the payments hit our bank account, I can easily "accept/assign" because there's a match. This takes a long time because I am creating many invoices each day. So, I started doing this - Way #2. Total up the income for for the day it will be deposited and create 1 invoice for "Faire/Multiple Vendors". When the 5 to 25 deposits hit the bank, I take each transaction and match it to the 1 invoice. However, I feel like there needs to be a better/quicker way!  When I have all 25 transactions in QBO, ideally I want to chec

How the heck do I run a "Sales by rep" report in QB online?  Can't believe how difficult this is to find....

Why are inventory items entered on a bill that have been assigned a customer:job still changing my inventory? Shouldn’t the fact that it has a customer assigned to it make it go into inventory and then right back out because it already knows where it will be going?  

As the title indicates, the new invoice format does not allow us to pull time charges in if the time is allocated to a customer directly.We have a major customer that, due to the nature of how they operate (which is less than ideal for us but unfortunately we have no say in the matter), results in us performing work, and as the work progresses the payroll pushes the time expenses to the customer, but not against a specific job or estimate.In the old invoice system, we could then pull just the time from the customer directly to the invoice. In the new system, the only items that show up under the suggested items are estimates which do not contain any of the information we need to pull over.We do have 'Make expenses and items billable' turned on, and have had it turned on since we first setup QBO years ago. That has not made any difference. I have also utilized the filter settings to show only time charges, and it clearly states nothing is found. This is a major issue as withou

I've been on the phone with QBs "support" for 2 days now.  Support staff are usually very courteous and do their best to help, but THEY DON'T KNOW WHAT THEY DON'T KNOW...A nice man helped me set up a Merchant's Account yesterday.  Of course, it doesn't work correctly for whatever reasons.  So, I called QBs early this morning and got a nice lady, who was trying to solve an issue but had to defer it to another department and said she'd call me right back... and hasn't yet - hours later.  Isn't this Customer Service part of our (forced) subscription? My question is this - WHY do these people not give you all of the information needed to accomplish these tasks the first time around?  For example, the man who helped me set up the merchant's account said NOTHING about having to either Intuit's Originating or ACH ID (codes).  In doing my own research, I came across this article in QBs Help, indicating the IDs are "REQUIRED BY FINANCIAL INSTITUTIONS TO AUTHOR

Please call me somebody. I’m big trouble. Your new version. Nothing fine. I need all history.

In QB Desktop I was able to set up a preference to "mark all expenses as billable". However, in QB Online I can't seem to find that preference. Most of our expenses are billable and I'd like that to be the default.

I use a business account with Fidelity Investments for my operating account, which sweeps any cash balances to money market automatically. This results in an ongoing $0 cash balance in my Fidelity account and from what I can see so far a $0 balance for the account in QBO. Are accounts with money market supported in QBO? I would prefer not to have to setup multiple accounts in QBO and keep up with daily transfers to and from accounts for this to work. Thank you. 

I am trying to find out how to turn off automatic numbering for invoices. I open Preferences but don't see Sales & Invoices as an option. I have Sales & Customers but, that does not offer me the option to turn off the auto-population.I am using Premier Plus Contractor Edition 2024 Desktop.Any suggestions would be appreciated. Thank you

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When setting up their QB Online Account, my client set the company type as "Other" so the Chart of accounts reflected that. Upon discovering this I changed the company type to the correct form (1065 Partnership).The chart of accounts still reflects the "Other" type, is there a way to refresh/update it to reflect the corrected company type?I've started trying to edit them all by hand, but QB doesn't allow me to create an accumulated depreciation account.. I get the error message "Fixed assets accounts (accumulated amortization, depletion, or depreciation) cannot be parent accounts."

I am running 21 version, and when I verified data the process has been running for hours (10+) and is only 30% complete. Is this normal, or should I take other steps

Intuit changed the way they handle Sales Tax in QBO vs. QBD. As a result, when I migrated, all transactions that included Sales Tax paid by my customers had the tax amount stripped out.  Since those payments were grouped with Undeposited Funds, this created a negative balance in Undeposited Funds with a corresponding balance in Sales Tax liability.  Unfortunately, Intuit hasn't figured out a way to fix this.Assumptions:1) Intuit summarily dropped the sales tax from the payments during migration.2) Any entry in Undeposited Funds demands a deposit. This is true whether the entry is a result of a payment received or a Journal Entry. Quickbooks *always* wants it to be deposited somewhere.3) Any entry in Undeposited Funds that does get deposited will reduce the balance in UDF by the amount of the deposit, regardless of whether it was a sale or a JE.Intuit can't figure out how to fix this. All they keep telling me are things that end up in violation of one or more of the

We sell state lottery & scratch offs as well as pay winners.  Technically we get reimbursed for the payouts, but it really ends up just being a carry forward until we owe the state, then we pay them a lesser amount.  However, this daily lottery payout amount needs to come off of our undeposited funds as we no longer have it to deposit.  How should I correctly set up a lottery payout account to accomplish this?  What other accounts should I set up/use in order to accomplish the accounting for the lottery?  The full sale (which we have to pay out at some point less a %) is included in our daily sales.  I was thinking I could leave that full amount then offset the payout to the state with COGS, thus reflecting in our P&L.  Is this the most efficient way?  Is there an easier way that includes all aspects plus the lack of cash due the payouts?  Thank you. 

I refuse to pay an nsf feel because this account has good funds, Intuit is making this same mistake again and I refuse to pay when this checking account is active. I am very upset. I am not doing a wire transfer again, they need to use this account. Who I get in touch with letting them know that they are making a huge mistake.

I am attempting to add my accountant to our company for the 2024 tax season filing. When doing so I receive the error message"You don’t have the right permissions to invite an accountant.To invite an accountant, ask your admin to update your permissions.."I am the only Admin on our account and have not had this error previously. After speaking with help desk over the last several days I am being told this is a know issue and its being worked on. Is there some sort of work around to adding someone on the accountant side as this delay is impacting my tax filing, and i have little confidence that it will be resolved timely. 

We sell a "gift card" of credits that gives the buyer an additional 15-25% credits that they can use towards purchasing coaching calls and attending workshops. We need to track the purchases, the use of the credits, and provide a monthly statement of the balance of credits. What is the best way to do this in QBO? Thank you so much for any help!

I am trying to correctly enter a loan from an officer. I have set up a liability account, but the advice below does not say what tehg appropriate expense account(s) might be. Help!Select + New.Choose Journal Entry from the Other option.Enter the loan amount and log the appropriate amounts to the relevant expense accounts. For example, credit the Liability/Loan account and debit the appropriate expense accounts.Click on Save and close.

Hi,  I have QB 2021 Pro Desktop.  How do I connect a cleared check to an open bill? Thank you

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I am not the only one it seems. When I import data to banking everything is fine until the last stage when all of the dates are changed to 12/31,1969 for every transaction. I need help.

Hi, I would like to know how to write off accounts receivable (old unpaid invoices)? Is it need to use the write off or credit memo will do? Thia is for a small business owner. LLC. Thank you in advance. 

We have been doing payroll through QBO for several years. This time one employee file somehow was corrupted, and we can’t run it as usual. We have called tech support few times; they recorded this case with high priority with no certain ETA for resolving the issue. In  meanwhile, they suggested to issue manual check and post in QB. According to QBO assistant:To enter manual payroll checks in QuickBooks Online Payroll, follow these steps:1. Navigate to Payroll: Go to the Payroll menu from the left-hand side.2. Select Employees: Click on the Employees tab to view your employee list.3. Choose Employee: Select the employee for whom you want to enter a manual check.4. Add Check: Click on the "Pay" button, then select "Add a check."5. Enter Details: Fill in the check details, including the pay period, hours worked, and any deductions.6. Save and Print: Once all information is entered, save the check. You can then print it if needed.This process allows you t