QuickBooks Q&A
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How can I submit annual tax returns and Financial Statements to HRMC via QuickBooks via digital/ online
I do basic data entry for a small company that made a profit for the first time in 2023. It is an LLC, Partnership. The owner made a cash withdrawal & then divided the withdrawal between himself and the other 2 members as disbursements, according to their percentage of investment. He then took his amount ($2000) and wants to reinvest in the company, connected to a loan that he has already made, but is an account not connected to the checking account. How do I record the withdrawals? And then record the investment so that it isn't showing the $2000 on the Balance Sheet as disbursement? I attempted a GJ entry crediting his loan account and debiting the Disbursement account for him, but that just increased the disbursement amount on the BS. Currently I have Equity accounts set up for him and each member, one Disbursement account each, and one Contribution account each. Would I credit the loan account and debit the contribution account? Please help! Thanks in advance!
Can I add a user who is not located in the UK. I have been trying to add a user who is based in India and they keep getting error messages when responding to the invitation. I tried adding them first as a user - error message and then as an accountant - where the error message specifically said they couldn't be an accountant to UK Quickbooks if they are outside the UK. Just want to know what the rules/limitations are when adding a non UK based user or accountant to a UK account. Just to be clear I am within our limit of number of users and accountants so that is not the issue.
HUMAN
All reconciliation, between bank transactions and invoices have been matched. Yet, at month-end there are the "undeposited funds" and also the "uncategorised income" with some amount in them. If I just make a journal clearing them, will it cause any imbalance in the reconciliation done? Thanks in advance.
How do I re connect
Hi, I've read a number of posts on the community relating to the VAT Flat Rate Scheme accounting in Quickbooks and have been working on the following basis: - Record Sales as if they are not on the flat rate scheme with the correct VAT Rate applied (i.e. Standard Rate etc.)- Record Purchases as if they are not on the flat rate scheme with the correct VAT Rate applied (i.e. Standard Rate etc.)- Ensure the Flat Rate scheme setup is correctly defined in the settings- Let QuickBooks do the rest My question is in relation to the "Income Tax" checker option that has been added to the system.Bearing in mind the business is under Flat rate VAT, it shows the Income and Expenses Net of VAT and excludes the Gain/Loss derived from FRS Savings from the calculation. My understanding is that this would be misleading, because the gain on FRS would be a genuine gain based on the above, and therefore should be disclosed on the Self Assessment. Could I be missing some
How do I change this. Do I have to wait for it to update?
How do you verify bank account
I have just signed up to QBO and every time I look up how to do certain things the tutorials all show a different looking version than mine. I have very limited options in the settings menu as shown in the screenshot. Is this because I have the self employed version?
With little fanfare Intuit introduced the Idea Exchange section of the forums, still with no direct link to it. It now appears the forum section is also broken. You change any of the filter settings the section greys out, same if you chance the posts per page.Intuit, if you are serious about this forum you need to make it easier to get to, and at minimum make sure it actually work. Would also be a brilliant idea if you get the information out to your customer that this forum even exists. @JackS
Cant find invoices
I have spent the best part of today including a very long time with Quickbooks support trying to understand why my French bank no longer synced. Even support did not know that QB have withdrawn from France. Now I have to find another package - any recommendations???
I do the bookkeeping for 2 companies and the first company sends a lot of invoices to the second. Is there a simple way to export the sales from 1 company QB and import them as bills onto another company's QB?
