Reports and accounting
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. What happened is my bank auto download is very unreliable so I imported the transactions from my bank from a download and I ended up with a LOT of duplicates transactions. I did not notice all the duplicates until I after I reconciled. Then when I went through and deleted the duplicates guess what, I deleted a lot of the wrong duplicate that was reconciled and made a huge mess. So I want to start over. I had my accountant delete the reconciliations. That is done. But now what I want to do is remove all the transaction (delete or whatever it takes to make them go away) and do a clean one time import of all my bank transactions by importing the file I can download from my bank. That way I know there will only be the transactions that are not duplicates and are right off my bank. I am confused between what will happen if i just exclude them instead or void or delete. The way I read it is if I exclude them I will not be able to import
Hi,We are moving to QBO and looking forward to using the deferred revenue feature. Part of our process, especially for international customers, invites them to prepay 50% of an invoice, which is a combination of products and services, and to pay the remainder on NET 30 terms after shipping. If I understand the deferred revenue feature, we can receive funds, usually through wire transfer, and put those into the deferred revenue/liability account. Is it practical to divide the prepayment at this point or leave it as a lump sum until we do the final billing? When we invoice, what do you suggest we do to apply their prepayment to the invoice that has both product and service content, and is then left with the balance? Is it advisable to apply 50% of the prepayment to each item, or does it matter how we split the prepayment?
We formed a new LLC with two owners. Both owners contributed livestock, as non cash owners equity in the business. The livestock needs to be listed as sellable inventory. Now it seems that I have made a double entry and and have twice the amount in inventory. I have obviously made an error in setting up the inventory account as well as in recording the owners equity. How should these entries have been made?Thanks. Steve
Hi,I'm a newbie so this might seem silly but I am so confused. We have 2 vehicle loans that I have put in as liabilities. Every month the payments are automatically withdrawn from our main checking account. This checking account is linked to quickbooks, so the payments have popped up and I've categorized them under the proper liability account, with x amount going to principal and x amount catergorized under interest paid. But now when I go to reconcile my account, I'm missing the amount that went to interest paid and I don't know how to solve this.
I have been using Quicbook for 6 years and I am completely satisfied with it for my small business.These past few days I've been feeling stressed with New Invoice Layout. Are you putting me in an experiment where I have to pay you every month?Is an Accounting software that supports businesses. You should aim for the internals, and the ability to retrieve data, statistics and reporting rather than the frivolous and chaotic interface.You're putting loyal customers through an experiment where they have to pay to use a feature that lacks stability and consistency across operations.You have updated the New invoice Layout and kept the remaining payments, reports... Just like you are taking a plastic pot to store boiling water.I feel like things are getting worse. You should reserve it for those who agree to accept the change or experiment rather than applying it to us. Business owners don't care about the external interface.KEEP SOMETHING LIKE THIS AND DON'T MOVE IT TO NEW INVOICE LAYOUT. PL
Hi, I’m using the contractor edition quickbooks desktop. I buy a lot of power and hand tools for my business. Anything from a drill bit or hammer to a 5k power planer. I am wondering the proper category to select in the chart of accounts. I do not have anything in the expenses section that makes any sense. Office supplies is the closest. Do they belong in Tools and small equipment under Cost of Goods sold?
I have a note payable with fixed interest and principal payments. The note was entered correctly when it was initiated, but the person doing the bookkeeping last year was recording the interest payments as principal payments instead of interest expense. I know the journal entry would be to debit interest expense and credit the note, but I am concerned about taking that much interest expense in 2023 when it was actually paid in 2022. Is it proper to do it that way? Are their any GAAP principles I should be aware of for this situation?
Why can't a customer pay with American Express?
I haven't been doing this, but I should - allocate expenses such as parts, service, gas, insurance, etc. to the specific vehicle(s) for which they are purchased.I have just been putting them in the COA, under Vehicle expenses, but grouped, not specified for which vehicle. (This list of expenses is growing each month).Where should they be allocated? I do have the vehicles in the FAM and I do have them in the Fixed Asset Item List. Can expenses be added to those? Or should I set up in COA a separate Expense account for each vehicle, then sub account for Parts, Insurance, gas, etc. ?And, can I go back to edit those expense already added to QBDT, to put them in the correct expense accounts?
I exported a report that I customeized. One of the columns is a custom customer field. In the CSV and XLS the title is: entity_column_customer_udcf_9This is a customized "sales by customer detail report". I have another customized report, a customer contact list, with this same column. For this report the column header is the name of the custom field. Is there any way to fix this?
Up until a few days ago when checks matched via the on-line banking match (either automatic or manual) they would show as cleared (little 'c') in register and we could run reports showing uncleared checks. These checks would also already be cleared when going to do a bank reconciliation for the month. Now the only way to clear a check is to do a bank reconciliation and manually clear them. My bank balance is correct, so it appears that QB is connecting to the account. However, it seems as though it is not downloading the transcations that have cleared.
I manage two entities and one received payment for an invoice issued by the other. I am hesitant to use a J/E to adjust A/R because I know that messes up reporting... but if I receive payment in one entity I can't make the deposit because there is no deposit in that entity. How is this typically handled? Is there a workaround to a J/E?
We use QB;s Premier Contractor Edition 2011. I know it is old, but it serves our purpose. Our invoice template contains the "Project Description" field. It prints out as a large field, but it only allows a fairly small amount of characters. We often go over the allotment. Is there any way to change the number of characters allowed?? Thank you
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