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I have entered and saved my VAT number in VAT setting but it still doesn't show on my invoice template.
customer already paid first invoice with VAT just issued second invoice with customer not paid
Hi My question relates to UK accounting for cash and card payments we take on our bar. I record the respective totals for cash receipts and card receipts as separate Sales Receipts with customer name "Bar" and deposit those sums to Undeposited Funds. This automatically generates three entries in Undeposited Funds: 1. Cash receipt - increase Undeposited Funds by VAT inclusive amount recorded on Sales Receipt.2. Card receipt - increase Undeposited Funds by VAT inclusive amount recorded on Sales Receipt.3. Card receipt - decreased Undeposited Funds by the net of VAT amount recorded on Sales Receipt. When I remove cash from the cash drawer and credit it to petty cash or pay it into the bank, I create a bank deposit of the cash amount recorded under the Sales Receipt. This creates a zero balance for cash receipts in Undeposited Funds. When I receive card payments from iZettle into my bank account, net of iZettle transaction fees, I create a bank deposit for the tota
Hi My business takes security deposits from clients against potential damage caused during events. If no damage is caused, I refund that security deposit in full after the event. During a live chat with QB, I was told that to record that refund I should: create a refund receipt payable from our current account with the product 'Security Deposit' (an other current liabilities account I use for security deposits); andcreate an expense, choosing Debtors as the category.When I do that, the customer transaction list shows: Invoice £1000Expense £1000Refund (£1,000)Balance £1,000Is this correct. I would expect the customer transaction list to show a zero balance after the refund. Should I delete the expense and just rely on the refund receipt? I have checked the Security Deposits account and it does show a decrease of £1,000 if I issue a refund receipt but do not create an expense. Any help would be much appreciated! Thank you.
I'm currently using QuickBooks Self-Employed to manage my contracting business. What would be the best way to manage wage payments to myself and pay the correct amount of tax to the HMRC?Will I need to upgrade my account to the essentials tier?
Is there a way to post an activity to an invoice without sending it? We work with a lot of insurance companies so our invoices are not always sent through QB Online but would like to manually enter activity updates.
