Reports & Accounting

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Hi John-pero.This is my second post.  When I checked my profile the original post showed "SOLVED"' which led me to question whether it actually was posted. Now that it is nearing yearend I am looking at our previous correspondence on depreciation and I am still struggling with the correct setup. For example, I have set up two accounts for "Dust Collectors".  One is 62811 "Depr & Amor - Dust Collectors".  The other is 17101 "Accum Depr - Dust Collectors". Let's assume that the total asset value is $900.00 and we depreciate the asset over 3 years giving us an annual depreciation amount of $300.00.  To create a journal entry at year end I would show a debit of $300 against 62811 ""Depr & Amor - Dust Collectors" and a credit of $300 against 17101 "Accum Depr - Dust Collectors".  If the foregoing is correct then am I to assume that the 17101 "Accum Depr - Dust Collectors" increases annually over 3 years until it matches the total asset value? 

I am in the process of setting up a day-trading company in Quickbooks Online - EasyStart, to keep track of my personal day-trading, Questrade account. I also understand that Quickbooks works poorly for this type of company. That said, I am used to Quickbooks and plan on making it work. By reading the Quickbooks Community postings it becomes confusing if a Day-Trading company should be set up as either a Bank, Asset, or Equity account. There are too many opinions on which one is best. I started it off as a Bank account and then changed it into an Asset account. I am starting to think I should have left it as a Bank account, all the while I am trying to solve a problem that says it should be an Equity account! Can you offer your opinion on why it should be one or the other? To enter my trades into Quickbooks online I am just wanting to make a basic Journal Entry. This journal entry will consist of total purchases, total sales, foreign exchange fees, and commissions. Withdr

Exporting a trial balance to excel requires extra steps to format because the account number is not separated from the account name... is there a way to have these export as two separate columns?

I have an Asset account set up for my Day-Trading. It has two sub-accounts. I want to show that I transferred money out of this Asset Account to my personal Bank Account. Can I use the "Transfer" option to do this, or do I need to make a journal entry? For the Day-Trading asset account, I only make one journal entry at the end of the month to keep track of everything, so I could add this transfer out to this entry if need be.

I am struggling with depreciating assets in Quickbooks Premier Desktop 2020.  The instructions that I have been able to find on Quickbooks Support are the Online version, not the Destop version.  One comment even stated that the “Track depreciation of this asset” function is not available in the Canadian version. I have created a new Account number 17101 under “Accum Depr – Furn & Equip” (I assume this the correct location) but based on the Online instructions there is no dropdown in the Desktop version for "Account Type" to select “Other Expense” nor “Detail Type” to select “Depreciation”. On the Desktop version when you create the account there is a question “Should I enter an opening balance”.  Opening this up it states “if you purchased the asset before your Quickbooks start date, do not create a transaction to put money in the account".  So I did not enter any amount. Moving to “Make General Journal Entries”.  On this scre

Profit and Loss Comparison Report

I recently upgraded to QB online.  When I export a report from QB to excel, it comes up all zeros.  When I highlight the cell the amounts are there.  I clicked the box at the top "enable editing" so I know that's not the problem.  The file is not protected.  Can someone help?

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Hi I import may daily sales to my quick book. Under imported transaction my  GST comes  under service item. How do I make a JE for changing  that from service item to Tax item for 1 month batch entries. currently I am going in each sales entry to edit it add GST tax item and remove GST service item.   

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I would like to create a Customer Balance Detail Report for each separate customer. Is there a way to automatically run and save a separate report for each customer instead of having to filter the report manually for each customer and then saving down a pdf?

I deleted my reconciliation discrepancies account (by mistake). Now I cannot reconcile. I need to activate this account but QB wont let me. I have had 3 files opened with support and they say they resolve issue and close the file then i have to start from beginning again. Please help me. I believe i know what needs to happen, i just cant do it without back door support. Nicki 

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I would like to create an expense report for taxes from the app

Hi.  I recently transferred my offline Quickbooks to Online Quickbooks.  In my offline version I had an account called Term Investments (all GIC investments) when I moved to online that account was transferred over but I also linked my bank accounts so now my GIC accounts are listed as they should be updating through online banking.  The issue is now my investments are duplicated in the balance sheet as they are listed in the "term investment' account as well as through the linked investment account.  Can anyone provide a suggestion on how to resolve the duplication of these accounts?  Ideally i would like to keep the GIC accounts that are linked through online banking.  Appreciate the help.

Is there a "go to" report for showing what QBO has recorded as actually been paid to a vendor? So a standard way of answering questions around what has actually been paid to a vendor/supplier over a period of time comprising which invoices, amounts, payment type, payment reference and when payment cleared (i.e., cheque cleared the bank) and even that payments' reconciliation status? I always seem to struggle/run into not having all pertinent information in standard reports QBO offers nor can I get a custom report done up properly and that I feel comfortable showing to decision makers, etc. Please let me know what you think! Steve 

Hello, The Transaction List by Customer Report would be very useful to me if I could customize it to include a list of POs.  It works great when I filter by a particular PO, but I want to see a report with only a certain list of about 10 POs.  Is there a way to do that?  I tried simply entering two PO numbers separated by a comma but no such luck.  -Thank you

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We're a bitcoin based p2p platform and point-of-sale handling bitcoin expenses and revenue (locally, and in El Salvador), and our accountant has the conversion at sale/payment time for CAD, but she's trying to enter them as a foreign exchange payment which only does two decimal places.Because QuickBooks only does 2 decimals places instead of 8 for more detailed accuracy, she's been forced to use spreadsheets, and I'm afraid I'm going to be guillotined by my bookkeeper and accountant if we don't find a way to get them out of spreadsheets and back into quickbooks. Please offer an option for 8 decimal places and save a life :D

I have accepted accountant invitations from some students and cannot see them in my accountant teacher view. Is this something they did or something going on with my account?

Can you please give me a journal entry to post so that I can clear a fixed asset off of the Balance Sheet?  There was an old truck that was parted out but still shows on the balance sheet and I need to clear it off.   Im not sure which account to use for the journal entry. Thank you.