Reports and Accounting
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Accounts payable report is correct but the open balance in supplier account is different?
I have read through all documentation there is on opening balances to try make sense but some things are still not clear: We have 2 bank accounts, one with o/b of zero on 1/10/2018 and the other one used since Mar18. We started using QBO only when the first account was opened, in Oct18 so the first transactions are from Oct18. How do I manage all previous expenses on the 2nd bank account, which were not yet in QBO? So far I also added an o/b 1/10/18 for the 2nd account. In the 2nd account we have initial capital, directors loans and asset expenditure prior to Oct18 so I created an opening balance for 1/10/18 for the Bank Account and the Loans (I went and did it on the Chart of Accounts). I wanted to do the same with Shareholding capital and Fixed assets but also put Admin expenses as a lump sum ending/b of all previous expenses into a "miscellaneous expenses" account (this is historical data so not relevant). Would I use the retained earnings account perhaps a
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Why does the journal report shows the paid amount twice. Attached the pic of the report for your ref
Hi, Would really appreciate some help with this. My understanding is that Quickbooks uses FIFO for Cost of Goods and it's based on actual sales and expensed as each product is sold. Am I correct in my understanding? All of the guidance I can find uses the formula Beginning Inventory + Purchases - Ending Inventory I would prefer to use actual sales to track Cost of Goods as this seems a much more simple way of doing it. Many thanks
Is there any way of paying more on a monthly basis to have more than the 40 active class items in QB online? If not, can anyone recommend an add on which works alongside QB that could be used?
I am trying to delete old current assest accounts from the chart of accounts as we haven't used them in years and they have a balance of zero. They are never going to be used again. When I try I get an error message saying "This account cannot be deleted because there are unbilled charges for this account" Can anyone help as to how to delete the account/what it means when it says there are unbilled charges for this account?
All of our fixed assets are fully depreciated, they have a value of zero. They are appearing on the balance sheet with a balance of zero. Is there anyway to have them taken off the balance sheet? I know that you can customise the report to show non-zeros but ideally I want them automatically gone as they have no balance?
I'm trying to reconcile my paypal accounts with no luck, there appears to be duplicate transactions in my chart of accounts for each sale. For example this customer spent £33.96 today and paypal took a fee of £1.28. Whilst the fee is only appearing once, the sale itself is appearing twice. This is the case for every single transaction made. How do I fix this error and avoid it happening again in the future? Thanks!
Sales by Product/Service Summary If you run a report of an individual product that will show data, but if you download the overall report it misses many details.Inventory Valuation Detail. This is averaging out and showing data of only available products I need the Last Cost of all products, Regardless it's available or not.
Hi all, I am having real trouble with invoices sent to one particular customer . She has now reported twice that she has not received my Quickbook invoices. Previously she had no problems receiving them. They have not gone into spam folders, neither of our emails have been changed. This had caused her to be late in paying the first invoice which failed to be sent. The second time, we were on the alert. In my list of invoices sent out, it records the invoice being sent out to her but she has definitely not received it. I am aware that this has been an issue in the past. Please can someone clarify ?? Digital accounting was meant to simplify my book-keeping and tax affairs but I feel that Quickbooks has breally let me down in this way. TIA
Dear all,I'm trying to understand how to compute the unrelieved loss (with a specific example) when there is an R&D claim and how to record it. Would be very grateful for some kind help. I read S1056 from https://www.gov.uk/hmrc-internal-manuals/corporate-intangibles-research-and-development-manual/cird90500 which defines the unrelieved loss in this circumstance. Take the following concrete example: ==== EXAMPLE DATA ====Loss per accounts: 20000Amortisation: -15000Enhanced R&D expenditure: 80000 enhanced at 130% = 104000Capital allowances: 100000=> Trading loss: 209000 Total enhanced R&D expenditure: 80000 + 104000 = 184000 This company is putting in an R&D claim. The tax credit (tax relief) that could be obtained by making said claim is 14.5% of the Total enhanced R&D expenditure, i.e. 184000 @ 14.5% = 26680==== END OF EXAMPLE DATA ==== Unrelieved loss: My understanding is that the unrelieved loss
I have noticed even while testing, that the sort order of transactions is not in correct sequence appearing on reports. This is very annoying. E.g. if the correct order on a date is Invoice>Payment>Credit Note…QBO will randomly / indiscriminately stack up the entries without due regard to the order or sequence in which the transactions/entries took place on a particular date. It will do this in a number of other areas such as Customer area.. How can we fix this?
Hi.Need to run a report that fits HMRC micro entity balance sheet template.Which is best report to use from QB ?
The new Cash Flow Planner is a huge help for looking ahead into the future and for us replaces a number of spreadsheets. The thing that would really be game changing for us however it to be able to automate some of the data entry. The only way I can find to add additional predicted transactions is with the 'Add Transaction" button in the planner itself, does anyone know if there is another way of adding predicted transactions using tools such as Zapier etc? We often have delays in receiving payments from our card processors and this would allow us to predict the effect of these delays without having to make an entry for every day that each processor is used. Thanks.
Can someone help me in doing reclassification from balance sheet. The owner uses own money to make purchases and the payment went to cash in error instead of owners equity and reduces the cash balance in quickbooks.
HiI have run a report (sales by customer summary) on accrual basis, and would have expected this to show totals for all sales invoices raised, by customer, ie a Top Customer report if you like. It does, but I have a line which is "Not Specified". When I drill down, this is showing other income, like bank interest received, a VAT refund we had, and our £10K business rates grant paid to us. Is this normal?Thanks.
30 June is the 1/2 year for our small charity's accounts. Can I obtain the balances on a specific account at that date for each of the past 10 years? Obviously I have the current year and one previous, but how can I get the ones for the 8 earlier years?
I use the scheduled reporting feature to email PDF reports each night. I use the Group reports feature, so that several reports are emailed together in one PDF. When using the scheduler, I have come across a limit on the size of the PDF. Instead of the PDF being attached, there is an html file, which when opened says “This report is too large to attached as a PDF. Please contact the sender and ask them to attach the report in Excel or change the date range or display columns to be less”. Does anyone know what the threshold is? I’m mainly asking because based on my reports it seems quite small (a little over 150KB) If I split the group into two groups, it works again. There are about 15 reports in total, 30 pages total, split between the two groups. The limit only seems to apply to emailed reports. I haven’t hit a limit if I access reports using the web browser and can download 30 page 150KB pdf reports fine. Thanks James
Hi, I'm using standard payroll and have run the P32 Employment Payment Record as my month 12 was completed in standard payroll (month 1-11 was Paysuite). The opening balance does not include the £3000 Employment Allowance which is incorrect as I used the allowance in months 1, 2 and 3. Also in Month 12 it includes an Employment Allowance which is incorrect - I have deleted the journal for this but it still appears on the P32. How do I amend these figures please.
