Reports & Accounting
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My company imports goods from another country.We pay the supplier the amount for the goods, and GST directly to the government. The GST needs to be recorded separate from the supplier's invoice, because it would affect the total amount of the cheque. How do I record the GST payment to the government separately from the supplier invoice? I get the following error message: "You have either selected a tax liability account on a transaction where it's not allowed, or haven't specified a tax rate along with it." the desktop version supports this, but it looks like the online version does not. Thanks!
THE ITC I PAID ON PURCHASES ARE NOT SHOWING UP ON THE TAX REPORT
I am able to get the Balance Sheet but I need to print an income statement report.
Hello,I'm looking to create a sales report but I need the Manufacture Part Number on the report. I've tried several different reports but can't seem to manage it. Is it possible? I would be grateful for any advice on this. Thank you. Janine
Can I change this so that it shows in the GL?
I am in the process of setting up the opening balances in QB and am having trouble getting this account set up.
I am using QuickBooks pro desktop 2020. There is no asset manager. How can I change the value of a fixed asset? do I create a depreciation/appreciation "other expense" account? Then use that account to record the change in the value of the fixed asset? If I do that then the income statement and balance sheet look quite different of course. I am not an accountant so maybe I just don't understand the terms but Net Income is not really what we made as income in the year. It look like "Net Ordinary Income" is the actual income. Am I doing this the correct way?
My wife and I started a new incorporated business in August 2018. I do the bookkeeping with Quickbooks Pro Desktop. In the first year, I made a rookie mistake and entered funds that we personally provided and the money loaned by the bank as simple deposits. In June, as I was preparing the bookkeeping records for our accountant, I deleted these deposits and recorded them as General Journal Entries (Debiting our bank account and crediting either a Shareholder Loan or the Bank Loan). Unfortunately, this has resulted in a significant Discrepency in the beginning balance for reconciliation of our business bank account. Many thanks, in advance, for your guidance as to how I should handle the bank balance discrepancy!
