QuickBooks Q&A
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i have some doubts?
I have 1000 product that was imported from shopify as non-inventories and now when I decided to track inventories I am stuck.
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It appears as though none of the payments I made into my credit cards or checking account are registered in the current balance, but when I go through the reconcilliation process they are reconciled and everything is ok. What could be happening here? Edit: solved. For anyone else that has this problem: Large amount of uncleared transactions caused by quickbooks somehow duplicating my credit card payments. I simply deleted the duplicates and the final number turned out ok.
I need to make sure I am doing the journal entry right. Currently she sells the insurance then the broker bills her for the premium minus her fees and commission how would this booked??This is how it has been being done, is it correct?Client invoiced $2000Debit $2000 Bank Credit $200 commissions - via sales receipt Credit $1800 Broker Fee Payment to Insurance AgencyDebit $1,800.00 Broker Fees (Or Premiums)Credit. $1,8000 Cash (wire to agency)
My company purchased assets from another company and the asset purchase included AR and Deferred Revenue. How do I record these in QBO. The AR was paid on different days (as invoices cleared) and Deferred Revenue (basically prepay for contracts) was paid on various dates.
Hey Quickbooks Team, Hope you guys are doing well. Can you please help us as we are getting an error"That didn’t work. Try signing in again. (103)" ? Tried multiple times but all failed. Please help here as it has become very urgent now and is affecting our business operations Thanks for your help as always
Hello! I had a loan with x company and was making payments as sales/revenue was coming in. As sales were slowed because of COVID, x company gave me a deal to pay in bulk a certain amount of the loan and the rest would be forgiven. I have made the payment and recorded it. How do I show that the rest of the loan has been forgiven? Thanks for your time!
How can I write off a loan we have received that has been written off? We received some funds years ago when starting the company as a loan, and the person who loaned us the funds has offered to write it off. We used Notes payable to track the amount owed as a non-current liability. Would it make sense to create a new account under Other miscellaneous income and a journal entry to record the loan write off as "other income"?
Hi,I am running a business in a European country and I provide services to a UK client who is VAT registered.Before Brexit I was using the VAT Code 0% ECS to raise an invoice.My understanding is that now there is no vat between UK and EU businesses but I am not sure which VAT code I should use
The tax feature makes only one return and you cannot choose which liability it's paying for.
I need a hard copy of year-end accruals etc for the audit file
Our square account automatically records customer tips to a chart called Square Tips, a liability account. Every night, we pay all the tips out of the cash drawer. So my question is what would be the journal entry in QB to record that the Square Tips liability account is decreasing?
Hello everyone. I need help recording the $7,000 down payment made by the company's owner in the form of cash when he purchased the company truck at the dealership.So far, I have:Set the fixed asset account as "Work Truck" with an opening balance (which does not include the $7,000 contribution.) And,I have created a long-term liability account- detail "notes payable"- named "Truck loan" that does not include the $7,000 contribution. I appreciate all the help!
Why can I not get our VAT number to show on customer invoices.
I AM UNABLE TO IMPORT TRIAL BALANCE IN QUICK BOOKS. IT IS SHOWING ERROR "file_upload_error_coa". kINDLY RESOLVE IT
I have made an Invoice in QBO Online with two Inventory Item, one Non-Inventory and Service. For the Inventory Item it shows Sales of Product Income and Cost of Sales Supplies and materials - COS. For the Non Inventory Item and Services it shows only Sales of Product Income. There is not Cost of Goods Sold or Cost of Sales
Request you to please call on my phone number , your mail or message method is not good for effective communincation.
