QuickBooks Q&A
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Hi Team, At the time of migration from QuickBooks desktop Enterprise to QuickBooks desktop Premier, the credit card opening balance when importing to Chart of Accounts was incorrect. The amount in the chart of accounts should have reflected £279.61 instead of £416.49. We have identified our mistake and would like to reflect the correct opening balance.I went to the chart of Accounts and selected the account 'Credit Card' and edited the amount by putting the correct amount £279.61, by doing so this has an impact to share capital account. My share capital increases by £136.88.Any suggestions on how can i edit the credit card opening balance without impacting my original P&L, Balance sheet account. If you are telling me i should record under opening equity balance - Just to let you know i do not have this account type. Kind Regards,Shaun Gonsalves
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Hi, I have uploaded a snap of a receipt however it isnt showing in my expenses!? receipts are only showing in expenses if I enter manually. I paid using a card that isnt linked with quick book account, should I just enter manually?
HII have just set up a new client on QB. I have raised a sales invoice for the current period which was partly paid with a deposit in the prior period. How can I account for the deposit payment in QB and allocate it to the correct customer.
How can we set up quickbooks without using online banking
Hi, I am looking for some advice in setting up equity accounts and recording drawings made from them.The business is a simple partnership and we intend to draw a monthly sum as wages. One partner has made an initial investment, but the other starts with zero equity. Profits to be shared 50:50. This monthly sum is not intended to reduce Partner 1's equity, further drawings to reduce that will be made when funds allow. Following one of the guides, in the Chart of Accounts I set upPartner's Equity with sub accounts Partner's Equity - Partner 1 and Partner 2.How do I record the monthly drawings, especially given Partner 2 technically starts at zero?Do I need to make a journal entry, crediting some profit to the equity accounts that I can then draw on (and record as an 'expense'? If so, which "account" gets debited? It is my understanding that retained funds are allocated for this purpose at year end, but what about mid-year? In addition to the above question, when I set up the ac
How do I post an expense? Is Quickbooks experiencing problems at the moment?
Error message:Error while fetching tax obligations from HMRC. (code: "INDIRECTTAX-10355")???
Error while fetching tax obligations from HMRC. (code: "INDIRECTTAX-10355")I recevied this error whilst trying to file a VAT return for a client. I have successfully filed for other clients since first trying to file this return but this one will not work. Does anyone know what causes this error or even better how to fix it?Thank you in advance.
Our client deregistered for VAT - and has recently hit the threshold again meaning they have reregistered but with a different VAT number. This would normally be fine - however the MTD link is failing because we have VAT exceptions from periods during their previous VAT registration - which obviously cannot go through late claims on a totally different VAT number and registration. This issue is that these 2 VAT exceptions don't seem to be correctable, they were simply recoded to different nominal codes of the same type (e.g corp tax payable, to NI and PAYE Payable) with no changes to tax rates. So I'm basically unable to force these 2 transactions to disappear from the exceptions list, because from what I can tell they aren't exceptions at all. Has anyone seen this before? Cheers,Freddy
Upon sending Invoice Reminders the 'delivered' items are showing only as Invoice- Email Subject and 'Email Message' in the body text area.This is the same for Credit Notes.I reported this problem some time ago and was asked to close the case (even though it had not been fixed as an error) Is this still happening for others? Also, banking transactions are no longer allowing matching for transfers between accounts. Is this just me or is this becoming a regular problem for the service?
We have a bill for input VAT where a supplier had incorrectly not charged VAT. How do I make an entry to claim this input tax ?
Hello this is my first time on Quick books, I connected to HMRC to do my vat return, on boxes 1,2 and 4 i have put in the wrong amounts and I need to zero them and start again but it doesn't let me do this, i have not submitted it to HMRC yet as it is incorrect and I would like to know how i can correct this error
