QuickBooks Q&A
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Hello, Hoping someone can help me to understand the exchange gain/loss that is created (by journal entry) as a result of performing a currency re-valuation. In my case, the home currency is CAD and I typically revalue USD to CAD on the last day of my fiscal year. Prior to running this revaluation, transactions are automatically created in the Exchange Gain/Loss account each time I receive payment in USD. For example, on March 15, 2022, I invoiced a customer for $2550 USD at an Fx of 1.281148 representing $3266.93 CAD. On March 24, 2022, I received full payment at an FX of $1.253274 representing $3195.85 CAD. The Exchange Gain/Loss account was automatically debited for $71.06 representing a realized loss. At the end of the fiscal year (before running currency revaluation), the balance in the Exchange Gain/Loss account equaled the sum total of all gain/losses related to completed USD sales transactions. In my case, there was a debit balance of $327.32 at this point. When I then
Just starting with QB online. Have entered all requested employee info - there are not yellow highlight markers in any area, but all employees show "Incomplete". I have cleared browser cache as this was a suggested solution, but no change. Thanks in advance.
I have had an online account since October of 2022. I did not access my account fully until the end of November 2022 when I was with my accountant. We did not fully finish setting up taxes that day, and since then HST will not appear as an option on my invoice sales screen. I also had to upgrade, and have been able to access the General Ledger to enter bills where entering HST registers.I cannot get into the page to "manage taxes" to do any fixes, and have been told by QBooks that my case will be closed in a few days, WITHOUT THE ISSUE BEING RESOLVED.I'm at a loss at what to do next. If the people who run the company are closing my case without issues being resolved do they expect me to just keep paying without being able to use the program as intended?I literally have a QBook account that will not process taxes.
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Have spent a day and 1/2 back and forth between Quick Books and BMO and tried each BMO option to link to but nothing works
need to edit a payroll after submitted
I started a termination cheque but would like to cancel it. How do I do that?
During reconciliation, I can select them to complete the reconciliation, but I don't understand why they are missing from the imported transactions and suddenly appear during reconciliation.
Had adjustments made from a QBO service rep to fix T4's. Ended up adjusting EI as well for some employees and now needing to clear out the cents in QBO payroll tax filings
Hello, I am looking to start doing the bookkeeping for my and my husband's small business using QuickBooks, however, he had previously been using the QuickBooks account for the past 2 years or so for invoicing and had already linked the business bank account and credit card to QuickBooks, but none of the books were ever done using QuickBooks because we had outsourced that part to a bookkeeper who used different software. I would like to start doing the bookkeeping myself as of our new fiscal year of January 1 2023, bit am unsure how or if it is possible to start from scratch using the same QuickBooks account. We don't want to lose any of the invoice history. Is there a way to start balaning the books from the new fiscal year only? Thank you in advance!!
QB does not appear to have a way to deal with this kind of scenario. We run into variations of this on a regular basis. Delivery delay can be either because we have to special order product or because the customer does not want it right away or they do not want the whole order all at once.. We do not recognize it as a sale until it has been delivered to the customer, but the product is reserved for the customer.
I get a lot of them. Am actually looking for a traditional Cash Receipts Journal in which to enter them.
Some of my employees are exempt due to indian status, but there is no option to post in box 71 of the t-4's. How do I correct that?
Hi There,I just upgraded to Quickbooks Premier 2023 Contractor edition, and needed help with changing the date format for data entry. On my old desktop version, I was able to enter expenses using date format MM/DD. In Quickbooks 2023 Premier Desktop, I need to enter YYYY/MM/DD. Is there a way to change the format back to MM/DD. It's just very cumbersome to have to enter the year when entering a large volume of expenses.Thanks in advance!
Hi there, I have a vendor who I only pay with credit card and have a running balance with them. I have reconciled my credit card with my bank account just fine. However, I am not able to capture the HST I am paying as the "payments" that I send to the vendor is to buy "credits" to buy postage. Now depending on where the shipment is going, the tax are different respectively. I think I have to add an example, let's say: I paid $30 to the vendor (which will show the $30 on my reconciled credit card)then $9.50 is for the postage feetax is $1.23, so total bill is $10.73My credit is $30-10.73=$19.27 (this will remain in my vendor account) How do I show this since I am only showing that I expensed $30 on postage? Do I create a separate "bank" account for this vendor? If so, how do I post the transactions on this bank as? How will it tie back to the credit card?
Connection to HSBC Bank Canada -Business Banking is not working even though the password is correct
Example - an invoice is dated December 22, 2022 but it isn't paid until January 16, 2023
