Reports and accounting
Recently active
Original commenter did not share additional details
I have a sole proprietorship. I just closed my books for 2021 (I know it's February, I'm a little behind) and now I want to close out my owner's equity temporary accounts into retained earnings. I have two equity accounts: owner's draw and owner's investment. I know I close them out with a journal entry (or journal entries?) on the first day of the new year. I have seen several posts like this one about closing owner's equity accounts in QuickBooks, but the answers are too brief for me to understand. I'm brand new to accounting and really need each step spelled out for me explicitly. I also found this video, which is very helpful, but it only addresses owner's draw, so I'm not sure what to do about owner's investment. Can anyone explain step-by-step how to close out both owner's draw and owner's investment at the end of the year? To make things more concrete, my owner's draw account is at -16,596.84 and owner's investment is 15,610.49. Thanks!
Starting in the last month or so, all of my invoices, whether manually created, copied, or set from an automatic transaction now have "-CM" added to the end of them. I've had 2 different customers asking why I"m now sending "Credit Memos" every month. I cannot find if or where we can edit any amended (or pre-pended) text on invoices.
A lot of my invoice and payment entries have been posting to a secondary A/R I set up before I was aware that there is only one default A/R - unlike QB Desktop I've used for years. There are a lot of transactions, so I would like to find out how to map the accounts in such a way that I can get the transactions from the incorrect A/R to the correct one. Currently, I have been doing journal entries to keep the two A/R accounts accurate, but would like to get both A/R consolidated into the one default A/R, then either eliminate the other A/R account or make it a sub account of the default A/R. From what I've read, once the accounts are merged, it's permanent. What is the most efficient way to combine the accounts so I have only one?
I dont want to enter it everytime i create invoices.
Does anyone know about or have experience setting up statistical accounts in QB? It does not appear possible. I'd like to track things like hours and utility consumption.
I want to be able to run reports to show how much money I make from each customer, but I have so far been unable to link the transactions where I got paid by these customers earlier this year to the customers I created in Solopreneur.
System type: QuickBooks Desktop I have run both the Open Sales Order by Customer and Open Sales Order by Item reports and noticed a variance between the Open Balance totals. I was able to determine that these variances related to a few sales orders that show as open in our system. Each of these orders had one of the multiple line items on the order shipped and invoiced. However, the other line items remain open on the customer sales order. When reviewing the Open Sales Order by Item report, the items are listed for these sales orders. When reviewing the Open Sales Order by Customer report, the orders are missing. The sales orders have been reviewed. They are marked as open (not closed). They have a customer account listed on the order. Only the items shipped and invoiced are noted as invoiced. All other line items show as 0 invoiced and have a Qty listed for the order amount. I have reviewed the report settings and cannot find a filter that would remove these
Hello,We are looking at cleaning up our system by removing old vendors that are no longer used and I want to pull a report that lists vendors with the date of their most recent transaction. I tried using the Transaction List by Date and grouping it by vendor but it ranks the vendors by their earliest transaction date, not most recent transaction date.
How can you add a custom detail type in accounts with the online version of QB? This question was asked over over a year and a half ago. Certainly before then. This is BS BS BS BS. This is no only a simple fix, but one that every business owner needs and I am sure is as frustrated as I am for the lack of intuitiveness for a company called intuit. Do you really think that the magazine stand in New York City has the same two dozen categories as the trucking fleet in rural America? They call it logistics for a reason. And, YES, I have tried your backdoor fix..." However, you can create a sub-account and match it to the closest parent account." It is tediously frustrating and counter-INTUITive!!! INFURIATING!
I'm using QB Desktop Enterprise 2024 and I would like to add an analytic field on my marketing expenses. We take part to several events and I would like to track the costs of each event. I have created a new field "Event" and I have added it to "Enter bills".I have also created a drag down menu and the values I want for the events.I'm not using items to book the marketing expenses because they are related to several general accounts and several vendors accounts. It's only possible to enter a data in the field Event via Items, and I cannot enter a data via Expenses.How can I enter a data in the new field I created via Expenses ? Thanks
I'm a non-finance person who was tasked with setting up QBO for a small nonprofit a few years ago. I kept things very simple, using "Sales Receipts" for income transactions like donations, membership dues, ticket sales, and "Expenditures" for all expense transactions. Now I'm getting ready to hand the job over to a new member with a CPA background and thought I'd try to move the budget report into QBO (we've been doing it manually with Excel). I just noticed that the Sales Receipts aren't being captured in a budget report (direct bank deposits and expenditures are being categorized but these manual sales entries are not). Attached screenshot of transactions shows one direct deposit categorized 4010 for membership dues, and the bottom 3 entries (check depand I'm wondering if I need to add categories to the screen where the sales transactions are entered. If that's the trick, how do I do it and can it be done retroactively? We will be starting a new FY on July 1, so going forward would b
I can run reports on sales by Customer Type or a list by Type, but no P&L... would be really helpful...
I know QB desktop has the functionality to add alternating shaded lines to a QB report (Balance sheet, etc.) but I can't find that option anywhere in QBO's report area. Seems absurd to not include it, since its a very basic function that adds to the usability of the report. Does anyone know how to add the shaded lines in QBO's reports?
How do I show that that this invoice is paid after the fact? Don't I need to match the Cheque to this now entered Invoice? And how do I do that?
Any way to exclude inactive accounts from General Ledger?
I am having a problem with one of my accounts while running report P&L Actual vs. Budget. I am getting all line items in my "accounts" file that are not a part of the current budget. This does not occur in my other accounts so I must have done something, unknowingly to remove these. How can I hide these items?
Is there a way to make a report of specific items from my item list. I have a very large item list and I want to only print certain things from it to transfer to an excel spreadsheet.
I manage a small nonprofit, and the person handling our accounting entries made some unusual choices. In 2015-2016, they listed PAYPAL as a bank account in QuickBooks. They recorded purchases (like postage) as expenses, and any incoming funds (donations, etc.) as income. The income was then transferred to the organization’s checking account, and I can see journal entries reflecting these transfers. However, when I run the Income and Expense statement for those years, I also see PAYPAL listed as an expense category so from my perspective these expenses were being counted already.Essentially, there were 3 accounts created in the chart of accounts: 1 labeled "PAYPAL SALES" (for income) , "PAYPAL FEES" (for expenses), along with a separate PAYPAL Bank Account . All 3 of these show up in quickbooks with a zero balance.Every year when I print the balance sheet, I see two entries that clearly originate from 2015 and 2016. However, these entries have carried forward into the balanc
I have a low resolution logo but QBO wants to print a larger version on title page. Can I control size? Thanks
Just added preliminary page but ToC not picking it up
Is there a way to create a P&L Report for an estimate in QB Desktop?
