QuickBooks Q&A
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I use quick books self employed, I create and sell comic books. A wholesaler went bust about a year ago and they held around £1500 of our stock. We have just received a cheque £7.72 from the administrators which is our share of the remaining funds after secured loans have been repaid. My question is, how do I show this in my accounts? do I just pay in the cheque as income, delete the invoice and thats it? I think that's right as the cost of goods for resale went out already so there is nothing else to do (other than be frustrated that all that stock has gone and we are going to spend money again to reprint). Thanks
does anyone have any advice on how to record repayments on a MCA loan (Merchant Cash Advance)??Every card payment is now subject to a percentage deduction before it hits our bank account.therefore, If I record the full sale value, and then record the fee portion as an expense to the loan account the bank won't reconcile.The other option is to record the full value of the sale, then minus 'sales' in the receipt to the appropriate value so the bank will match the depoist and then a journal entry which debits sales and credits the loan account, but them I'm sure dedicting sales twice!? Any pointers welcome..Thanks.
Where can I find training material for my clients
We are a UK company (registred in Companies House) but we will not be using Quickbooks to file our VAT. A lot of our business is doe in the US and Europe and QBO does not do well with multiple VAT rates and mixing VAT with sales taxes. We understand that we would use our QBO only as a bookkeeping tool. Can we sign up for QBO in the US? We would like to be able to change the language within quickbooks and QBO UK does not offer this. If so, do we need to cancel our current account and start a new one?
Hello,how can I check if the VAT showing in the banking transaction is legit without having the physical invoice?is there a way?please help
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Another day, another QB issue, why oh why do they continue to "upgrade" the platform.A simple task.All SalesClick the ACTION icon to download All Transactions into a CSV file.As of today, no longer works.I hate the new format that when you click on a sale it no longer takes you in to the invoice, it means extra clicks every time i want to view an invoice.I Hate the fact that payment transactions now appear in All Salesand now i Hate that simple functions in the platform no longer work.Hate the fact that i cannot email support to get a direct answer, instead i have to sit and wait for a community to sugar coat my issues and imply it is my computer, or my cache, or my internet etc.etc.Totally fed up with this company.
I want to be able to enter journals on the last day of a month and have them automatically reverse on the first day of the next month. Is there a facility to do this automatically or will I need to do it manually?
Hello, I've created a sole trader account with Quickbooks. I've logged into 'quickbooks online' created an invoice template, merged my bank account, sent invoices out and found there is no menu to take me to my invoices although they have been recieved by clients. I found out the Quick Books
It was linked fine before and on my dashboard it tells me to continue linking my account but just starts the process again
Hi, I've been trying to reconcile foreign bank accounts but both of them have come up with differences when compared to the bank statements. The balances on the trial balance are correct but the only way to reconcile the banks to match the bank statements is to make an adjustment. If I make the adjustments the balance in the trial balance will not longer be correct. Can you please advise how this can be fixed?
Let's say on 31/03/23 I receive a supplier invoice or "bill" for £1,000 which I intend to recharge to a customer.On 01/04/23 I raise that invoice and add the billable expense to the invoice.If I run the "unbilled charges" report to 31/03/23, then it isn't showing on the report, but I want it to, because as at 31/03/23, it was unbilled (it was only billed the day after).Any report I can run that will actually get this to work?
My question is regarding the VAT code to use for purchases of standard rated goods from the EC (we are in GB, not NI). The Quickbooks guide to VAT codes says that you should use 20% ECG which reports into boxes 2, 4, 7, 9, but our accountant says that these transactions should only appear in boxes 1 and 7 (box 2 is now only for VAT on "acquisitions of goods made in NI from EU Member States". But there is no VAT code in Quickbooks (that I can find) which reports just to boxes 1 and 7.
I had assumed that the move by Intuit to kill off QB desktop and force us onto their rubbish online system was a global decision ? NO - in the USA they recently released QB desktop 2023....! QBD 2023 is available in the USA - new features added.... https://quickbooks.intuit.com/learn-support/en-us/help-article/pay-bills/whats-new-quickbooks-desktop-2023/L9j39JEbk_US_en_US?uid=lfayejiu SO WHY CANT THEY SUPPORT FOR UK ??
HiHow do i get my account back to original settings.They appear to have updated the look and functionality for the worse, and i cannot work with this silly format.Can anyone advise how to get it back?For example... "All Sales".. all i had to do was click on the invoice to go into it... now i have a sub menu and then have to choose edit... also invoice messages (in the box provided) does not show on list view.So frustrating when these companies think they are changing things for the better!James
We are a firm of accountants who are about to start using QBs Time after using timesheets in QBs desktop for years. Our issue is that we would like to be able to approve the timesheets so that they are pulled through to QBs online by customer rather than by day or week for billing purposes. QBs Time do not appear to have a solution for this and instead have suggested approving the timesheets, raising a bill and then unlocking the timesheets again so that staff can continue to enter time for the rest of the day. This seems very messy, especially since only the primary admin user can approve and unlock timesheets.We have given feedback asking if approval by customer can be considered as a development to improve things and in the meantime we will probably be approving timesheets on a daily basis and sending bills out the day following sending the accounts etc to the client rather than at the same time.Are there any firms of accountants using QBs Time already who have overcome this issue?M
I have gone into settings-advanced and I was told there was a way to edit the language but that option is not available.
I get to HSBC app, approve connection, get taken back to QB App, then it freezes, have uninstalled and reinstalled a number of times to no avail.
