QuickBooks Q&A
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is adjustment note the correct way to do this or does it just change your bank balance. should it be done by issuing another invoice with a negative amount?
HiFor the last 12 months I have been processing my GST refunds from the ATO incorrectly. When the refund amount has come up for review in my bank feeds I have allocated it to another account as apposed to recording refund via the GST tab. To correct this I have gone into the account history and deleted all these transaction and added them as a 'record refund' in the GST tab.Unfortunately now when I go to reconcile it states that my beginning balance is out by -$3724 which is the balance of the 10 figures I deleted.Can someone please help me with how to rectify this?Thank you
Hi,I switched over from MYOB to QBO almost a year ago and I am having trouble recording a BAS payment.I have set up a weekly EFT transfer to my ATO income tax account so that when I lodge a BAS with the ATO they automatically draw money from that account for the payment.I have set up an account in Owner's Equity called "Income Tax Payment", this is the account I record the EFT transfer to the ATO on a weekly basis.My problem is that when it comes to recording a BAS payment in the QBO GST menu for a lodged BAS, under the "from account" dropdown window it will only give me an option to select a bank account and not the Owner's Equity account I have recorded the ATO EFT weekly payment.Have I set this up wrong? Any help would be greatly appreciated :-)
