Reports and accounting
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after spending ample amount of time researching how to record purchasing a vehicle, i think i have somehow gotten myself more confused and have not found any simple straightforward guidelines... Background Info:Purchased vehicle (over 6k lbs) on 12/23/23.Want to record based on section 179 and completely depreciate it in tax year 2023.Paid for vehicle in full with a check for $34k (no loans or trade ins) Can someone please list step by step how to record in QB online if I am using section 179? this is what i have so far...Create a Fixed Asset Account (Balance Sheet) for VehicleDebit Vehicle $34k, Credit Banking $34k (all on Balance Sheet) Create a Depreciation Expense account (Income Statement)Create an Accumulate Depreciation account (balance sheet)Debit Depreciation Expense $34k, Credit Accumulated Depreciation $34k
Rather than looking at all her weekly time sheets, I would love a faster/easier way to see exactly how many hours she billed her/our clients for her time each month.
If this is supposed to be a program to help with businesses there should be a category called inventory or merchandise. Or at least let there be a way to create a new category. I do not have the ability to do this and for the fee I am paying monthly for this system I should be able to customize this the way I need in order to keep things organized so I'm not scrambling to clarify things with my financial advisor.
how to setup a customer
Does anyone know how to do a simple inventory value report grouped/categorized by Preferred Vendor?
Can I change my QB checking statements to show 01/01/2024 thru 01/31/2024?
I've discovered a horrible data integrity flaw in QBO that all users should be aware of. Your historic data will be corrupted if you change a custom field drop-down list.Unbelievably, revisions to a custom field drop-down list will reach backward and upward into your historic invoices and customer records and MODIFY them. I've never encountered a bug with this potential to corrupt your data.Be aware. Never modify a custom field drop-down list.QBO support community - I am not looking for assistance with this. I am warning the broader community of users.
I'm trying to balance my QuickBooks account amount with my bank account amount. I've found almost every payment received from invoices posts to Accounts Receivable and also as a deposit into the register. This is causing double deposits to be made since it pulls the actual deposits made into the bank account. (and yes, all of the payments have been applied to the customer) How do I resolve this issue? Thank you!!
Using the Fed Income Tax expense account leaves invalid deductions and nothing on the balance sheet. Thanks
Somehow I added a vehicle when trying to enter a trip. Now I have to select which vehicle we used, but really there is only one.
Can I change the field for "Customer/Project" when entering expenses? The Project Profitability Summary only breaks down by customer. Since we perform multiple jobs/invoices for customers we would like it broken down by Customer Name then by invoices.
Hi, I am getting two errors while scanning company files.1. Folder containing company file is not writable.2. Network diagnostics failed.Please see the attached screenshot and help me to fix it. Thanks in advance.
sales tax problem
We have a federal agreement that requires 20% cost share/matching funds from non-federal entities. I need to know how to properly handle the situation where two separate customers are sharing the cost on one invoice. What accounts and items to setup, what transactions to use (credit memos?) or journal entries to make to be able to apply payments from two separate customers to one invoice. In other words, I want to show our full cost on the invoice to the federal agency, and reduce the amount the agency pays by applying a credit or partial payment against that invoice for the amount of cash cost share provided by the other customer (the non-federal entity). We are currently using QuickBooks Plus Online. Thank you.
