QuickBooks Q&A
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hi ,i am a joinerwhen i buy things like timber , materials for my work to the general puplic fo i categorise the goods i bought as purchases or cost of sales?
I'm just trying to submit my Q1 2023 VAT return.I am on the fixed rate scheme. Mid quarter I lose my 1% discount for the first year. I therefore need to adjust my Box 1 and Box 6 figures. I've calculated what should be in each of these boses.When I adjust box 1:- Does the Adjustment date matter? Default is 31st March 2023 (my VAT registration date is 29th January 2022)- Tax rate I leave unchanged? The default is SS-20.0% (20%)- Adjustment account - I've no idea what to select - default is "Cash in Hand"- Adjustment amount - I imagine this is simply the correct value for Box 1 minus the default Box 1 value shownBox 6 is the one I'm getting even more confused about. HMRC website clearly states that box 6 should be shown without VAT included. I've verified this at multiple sources. However Quickbooks is showing me the value with VAT included. What am I missing?
Morning all, We have just moved to Quickbooks from Sage so am trying to adapt. We use Scottish Widows for our pensions and the payment has just come out of the bank. Can you tell me how to allocate this? I have searched Pensions in the Chart of Accounts and I can see that 3 are set up: Employee Pension LiabilityEmployer Pension ExpenseEmployer Pension Liability
If I update my main account, my balance changes to match my bank, but there are no new transactions to review?
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Can I save my information before closing account?
Hi there, I am unable to add an accountant to my profile. I have tried every possible route and none have been successful. It appears my profile doesn't have the invite accountant function that everyone else has. How can I access this function so that I can add my accountant? Many thanks, James
When looking this up it says QuickBooks automatically does this but it hasn't. It has applied it on the p32 report but it is not showing on HMRC side. How do i notify them??
Hi , for some reason when I click save and new after I have posted a sales receipt the screen changes and it does not show the product box just the detail box and price. i then have to start again, this just started today, i have been using QBO for a couple of years and this never happened before. I hope I am making sense. Can anyone advise me please.Patricia
I have QuickBooks on my android and all paid up on Google play store yet on my iPhone and iPad it says my subscription is suspended and there is no edit button to change bank details
Hi there - hope this makes sense I'm relatively new to online book-keeping Have linked business account to new QB account, but have transactions from our personal account that we used when starting the business whilst getting the business bank account up and running. Is there anyway I can add these past transactions from our personal account into our QB
Options when raising the PO, save and send for approval, save and close or save and send. The PO says requires approval on it but selecting the latter option ignores the workflow.
Hi, Not sure if anyone can help with this. I switched over to using QBO for my business on 1st April 2019 for MTD, however this was midway through a VAT period. VAT periods are; Feb/Mar/AprMay/Jun/JulAug/Sep/OctNov/Dec/Jan I set the VAT start date to May as this was the next full period, and manually sent in the VAT for Feb/Mar/Apr the old fashioned way taking the data from Feb and March from my old spreadsheet and using QB to get the information needed for April. However when the direct debit payment came out of my bank in June, there was no VAT return to match the payment to. I manually assigned the payment to VAT suspense as this is where the other payments get logged to and then at the time thought nothing more of it. I am just looking at various reports for end of year as it's coming up soon and noticed that the balance sheet has incorrect figures for VAT in liabilities. Firstly, because of this payment that I have logged into VAT suspense,
Hello.We are incorporating an existing Sole Trade business into a Limited Company. We are primarily a retail shop and cafe. The new company has 2 directors - the previous sole trader and her partner. The business is being transferred as a going concern in its entirety.We have opted to sell the assets (shop stock, equipment, goodwill etc.) to the new Ltd. Company. These assets have been valued. We understand that the Ltd Company should be invoiced for the value of the assets, and we have drawn up that invoice.The Ltd. company cannot pay for the assets immediately. So we have set up a Director's Loan account - this currently only records the cash transfer made from the Sole Trader bank account to the new company.We now want to record the assets which the company has been invoiced for but will remain a Liability for now.I can't get my head around how this should be recorded as ?Journal Entries?. If anyone can walk me through the steps, I'd be very grateful!
I work around 35 hours a month at the moment but this will increase over time. I'm 6 month's in and need to know what's best for tax estimates etc
I need an accountant who can help me please
payslips currently showing negative holiday balances
Looking to upgrade to Advanced from Plus because of the number of users we now need, wondered how others have got on doing so? Is it pain free! Any useful comments and advice appreciated.
Hello,Is there a way to make multiple accounts sub of another account in one go. I know how to do this for one account at a time (chart of accounts, select account, edit) which would be very time consuming for what I'm trying to do.Thank you
