Reports & Accounting
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Hope someone can help me figure out how to set this up in the general ledger. My client owns spa equipment and works out of a spa with that equipment as a contractor essentially. She has her own business which is incorporated. I am setting up her books in QBO. She gets paid 70% of what was rung in the cash register at the spa plus 5% GST. I believe somehow the 30% that the spa keeps could/should be recorded as an expense. Am I correct, or is the 30% just ignored? Should an invoice be generated to equal the cheque she receives? Thanks for your help.
I do not want my my trial balance report to include accounts that have not have acitivity on them for years (some since 2013). I have made them all 'inactive'. However, my trail balance report still lists them at 0. In the 'advanced' feature I have selected Active which seems to me should solve it but they still appear.Other answers to this problem I have found say to pick Active and then only accounts with activity during the reporting period will show but it simply doesn't work. Does anyone know if this is a gltich?!
Is this a known issue with a fix?
How does one track Capital Expenditures on QuickBooks Online?Currently there is no account/category for this. This article does not explain 'how' to file within QuickBooks.https://quickbooks.intuit.com/ca/resources/taxes/how-to-claim-a-business-deduction-for-your-television-and-other-tech-gadgets/ Is this relevant if it was for the Online version?https://quickbooks.intuit.com/blog/whats-new/how-to-use-class-tracking-in-quickbooks/
Hi, I want to export a report from PHP website for my client. They want to import that report to their quickbook account. Have generated .iif file but that one generate error on quickbook import. Please help me to solve this.
Hi community, When I try to export a report such as Profit & Losses, the "Total" fields are 0s and a manual procedure must be done to fix it. In short all the fields are text and must be converted to numbers, and then to numbers again by pressing Ctrl + 1, and lastly I need to remove the space in the thousands (10 000) and finally the calculated fields show the right numbers. A colleague does the same export, and her fields come out right. I've tried a sample company file and the same behaviour occurs.I've tried validating the data and rebuilding the company file with no success.Is there anything that can be done? Thank you
Hello,I'm very new to bookkeeping and have come across an issue. We had a GIC that came to term and was deposited into our account. I entered it by debiting the bank and crediting the GIC asset account. So far everything looked good on the cart of accounts. This money was then used to pay for a large renovation project but now my net income on my balance sheet and P&L are negative the exact amount of the cashed GIC. So it obviously wasn't calculated as a revenue so it looks like we spent more than we had, but we didn't. Is there a way for this cashed GIC amount to be reflected in the reports? Did I make a mistake in how I entered the cashed GIC? Thank you so much!
Hi, I've been putting in expenses into QBO and I have some bills (phone, utility, etc.) and I also designated some expenses (gas, stuff that was paid for immediately without invoice). I tried running a report with transactions by supplier, but the "expenses" do not show up while the "bills" show up fine, grouped by supplier. I specifically put up a filter to show only the gas suppliers (e.g. Shell) but it says there's no data available. Even though when I look in the expenses tab, it is clearly entered as data. Surely it's just some small oversight. Please help. Thanks.
Hello! I do the bookkeeping for 2 condo buildings that used to operate as one - one bank account, one set of financials, etc. Since 2017, they operate as 2 separate entities with their own accounts with expenses being split 50/50. I was just informed that common expenses have to be split 54/46 and not 50/50. I'm not sure how to make adjusting entries to the affected categories for each year so I can refund the money to the building that overpaid and charge the building that underpaid. I'm assuming I can't create a journal entry for each affected category because it will change the financials from previous years. So do I add some type of "adjusting account" and just bundle the refund and the over payments in there so the categories remain intact? Do I bundle all the adjustments from the previous years into this 1 account? It seems very overwhelming and I don't want to make a mistake. Thank you!
