Reports & Accounting
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sales total
I found the answer how to fix it and it is due to tax code use in the deposit. I dont know how to delete this post. How does QB create the report Sales by Product/Service Summary? Based on my understanding, it should be from the product and service listings when an invoice or sales receipt was created. However, when I generate the report Sales by product and service summary it shows some transactions under category not specified. These are not discounts and rather it is just a security deposit. These has been part of sales by product summary. That's why I want to understand how QB prepare the report in background? So that I can correct if there's a mistake on our side.
For billing purposes, the construction company often needs to track the vendor holdback amounts by project, so that they can release final payments to vendors once a particular project is completed. Is it possible to combine Customer/Project details into a report on Vendor Open Invoices or Vendor Aged Summary/Details?
Hi all, I have had a company for a few years but I only started using Quickbooks in 2019. Before that it was pretty much only Excel. I am being told that the reports I have on Quickbooks are not useful for tax purposes because I have to enter all the information from previous years into Quickbooks. Is that true? I do not mind enter consolidates but do I have to add every single transaction? Are there some guidelines on how to do this? Thanks!
I originally just had a sales account now with the Covid 19 I have added two more accounts "other income" for CEWS and Wage subsidy 10 with amounts in the two accounts? Why don't I see the two other income accounts on the Income stmt? I can't seem to find anywhere to correct this? TIA
Hi there!I just started using QB Self-Employed and I put in all my past invoices from the start of the year forward to start getting organized. I tried to do my Q2 taxes but I found the totals in the Tax Summary Report completely wrong. For example Q1 says that the total sales without GST was over $5,000 but I collected no tax. But there is HST tax on every invoice in Q1. Help!As well, I'd like it if you could help me figure out how to put in Bills for in-home office use - for example to re-capture a portion of the tax on home heating fuel.Thank you!CM
Another accounting name for these reports is "transaction journal by account".
The report currently shows situations like the ones below: USD Bank account actual balance (Adjusted Balance) $0, Quicken Balance (Current Balance) $1,000. Loss: USD$ (-1000). This is CORRECT USD Account Payable actual balance (Adjusted Balance): USD 10,000, Quicken balance(Current Balance): $8,000. GAIN:USD$2000. This is INCORRECT. It is a LOSS for that amount. It seems the report uses the same formula for Assets and Liabilities when it should be reversed for Liabilities. I am sure I am not the first one having the problem. Has anyone found a solution to the incorrect reporting of Exchange Gain and Losses?
Our accountants booked year-end entries related to Corporate and GST tax payable. Because this is a journal entry, the payable is not in the vendor payable sub-ledger but is in the Balance Sheet. How do I pay this bill and allocate it to the journal entry?
