QuickBooks Q&A
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I am very new to all this and have been teaching myself how to use this program as I go. I am currently looking into doing reconciliation reports however am not sure what I am doing wrong. I need to do reports from all the way back in July 2020 and am not sure how to go about it. I started with just July 2020 and matched all the quickbooks deposits and payments with my bank statements, however, it is still saying there is a large difference that needs to be matched. If anyone could tell me what I am doing wrong that would be greatly appreciated.
Hi, I'm self-employed, sole trader working from home (based in Australia) - I'm trying to calculate a rough estimate of my income tax I need to put aside from business earnings - so I can start making regular payments towards my income tax. I understand the basics of how much I can deduct for tax purposes (what I can claim etc) and know I need to go over these with a tax accountant near tax time etc. However, I'm confused about how to record these in Quickbooks in the meantime - as they are only partially allowed for tax deductions (a percentage) because I run a website e-commerce business so I work from my home (use the same computer etc. for business and private use). For example: Home Utilities - like electricity are used for both personal and business use. My question is: When I go to transactions in banking and say make a payment to my electricity bill that was due e.g. $150 - only a portion of this amount is allowable tax deduction -
Hi, I am self employed (sole trader/Australia based) and have been making regular personal contribution to my Super account by transferring money from my gross earnings from the business to my super account. I'm using 'Quickbooks online' (not the self-employed plan). I'm wondering how I set this up in 'chart of accounts' to categorize it correctly and then also so I can record these payments I make to super from my business when they show up as transactions in banking. But set up and recorded correctly for tax time etc so I can claim tax deductions on these super contributions as I think this is allowed? Thanks
Hi, I use to use MYOB and after every financial year i would start a new year. Do i do this with quickbooks or do i just keep going?
I have a new employee who works three days a week. We run monthly payroll. I have just created a new payrun and checked his pay. It says that "Earnings hours have been automatically adjusted for worked hours within the pay period. Start date 13/01/2021." I'm wondering how QB calculates these hours so that I can check it is correct. It doesn't seem to be an even "x" days time 7.6 hours
Hi :) I have created a new standard user profile for a new employee. When they try to add products to a new invoice there is no option to add TAX. Then when you try to save, it will only give you this error message: ERROR "Line Item Tax Code Missing (TXN)" I have tried that same process myself using my Admin profile and I do not have this problem, the tax is automatically selected for me as per the products information. Also, this seems to be a problem with the Quickbooks app exclusively. It seems to work on an Ipad if I use a regular browser to open Quickbooks. How do I fix this?
