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I have an old negative account payable balance that was used to post scholarship payments. The account payable account is no longer being used any longer and the negative balance still exists. What is the easiest way to clear out the negative balance?
I have a negative interest payable balance due to missing offset interest expense transactions from loan payments going back a few years. What is the easiest way to clear out the negative interest payable balance?
im using the standard quickbook app on my phone and computor
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Hello,I recently downloaded Quickbooks and back tracking all transactions into categories.I’m a company director of a limited company, it’s solely myself in the business.When a customer has paid for a service from myself i’ve then been paying myself by bank transfer but unsure what category to put this in? Would it come under the liability category? I’ve seen ‘Directors current account’ ‘Dividends payable’ and ‘wages and salaries control’ what it be one of these?Thanks.
Hello, I have me own invoices that I have designed and suit my brand so do not want to use Quickbook to send invoices to clients. How can I add my income to my Quickbooks account so that I can get a breakdown of money earned over the tax year and fill in my tax returns? Also, is there a way to send your data to HMRC using QuickBooks? Thank you for your time. Clara
I want to create a template to use for Reverse Charge VAT custmoers that included the mandatory HMRC wording that needs to appear. If I add in 'message to customer' box, it appears on all templates. How do I resolve this problem?
It has come to my attention that when import transactions from Etsy QBSE doesn't correctly handle UK Sales to US states that charge sales taxes. This appears to have been fixed on transations from Feb 2022 onwards but before that the sales tax is not deducted overstating my income for tax purposes. Eg I sell an item for say £60 and the state tax comes to say £5. Gross income is shown as £65 but I never see the additional £5 as Etsy deduct it from my income and presumably pays it to the relevant state. After Feb 2022 there is a transaction that shows the state tax as an expense that comes off the gross. Prior to that, my tax calculation is including hundreds of pounds of deducted sales tax which is being treated as though it was my personal income. How do I fix this in last all of the previous years I have been trusting QBSE to calculate my tax bill. It amounts to thousands over several years
When importing incoming credits from my bank account, the Stripe fees have already been deducted from the total. But presumably I need to report these fees as an expense, right?What's the easiest way of doing this? Do I have to just discard all the Stripe payments from my bank account and import them manually so that the full amount (before fees) shows.
I have just imported my transactions in Csv form from my bank account. Under ‘amount’ the green ones are showing ok but the black ones are showing as £0.00. Is there anything I can do about this?
Hi all, My team is trying to clean up QB Desktop Database to have a good transition to QB Online. Does anyone know how to or what companies can help with removing multi-currency, removing old customers with no activities, and condense 5+ years of old data? Open for any valuable advice! Thank you!
I add the percentage of my electricity bills, council tax and home insurance allocated for my work-at-home business as Rent/Utilities/Insurance when naming the transactions. In the Tax Summery they appear under "Rent, rates, power and insurance costs" but that is split into "Office Expenses" and "Other Expenses". All my electricity, council tax and home insurance transactions have been put into Other Expenses and are disallowed. Can someone explain this? Surely these costs should be allowed? Do I need to put them into a different category of transaction?
Hi i uploaded older bank statements and loads of entries have come in wrong all i want to do is delete but no delete button only exclude i want to delete but how ? thanks
Full story, I use multicurrency, I didn't notice but the bank account had the wrong currency, then when the invoice was paid it was mismaching the amounts, but I linked them, then I realized my mistake and inactivated the bank account, then deleted it. Now the invoice is linked to a bank account that no longer exists and I am trying to undo the mess, I have created the bank account with the right details, but I need to link the invoice to the transaction, but the invoice is already linked to a transaction in a deleted bank account. Any ideas on how to fix this?
I just don't understand this awful system, It will literally show me every single transaction but the one I need... every.. single.. time. What's sad is that finding and matching transactions is technically simple work in 2023, but yet it makes it impossible. I have a receipt for £11.50, If you ask it to look for all transactions between £11.50 and £11.50 you get nothing, You ask to look between £11.49 and £11.51, you get nothing, you ask between £11 and £12 you get LOTS but yet.. NOT THE ONE I NEED £11.50 yet £11.50 can be found in 2 clicks through my bank transactions..it's right there in Quickbooks. it's the same story with the dates, for example my invoice was £11.99 but the actual transaction out of my bank ends up being £12.79 so instead you search the exact date and you keep getting "Invalid Dates"... like what do you mean invalid dates!?! and when it works the one transaction you expect to see from amazon that's a possible match IS NOT HERE... Ho
I'm doing some associate marketing work and wondering what category(ies) I record transactions under, where my business pays initially, then bills the customer for? For example, social media advertising; subscription for survey platform. What category do I list the items under? Many thanks, Emma.
I run a number of information based websites which I sell advertising space on, and I purchase content for them from freelance writers in an ongoing fashion (articles/posts). For the first time I'm moving from needing to state a catch all one figure 'expenses' on a simple tax return to a full Self Assessment where there are more categories for expenses. This is the only expense that I'm unsure of how to appropriately categorise. Is it best placed in 'other business expenses' or elsewhere (allowable expenses categories here ) I understand that this box is typically more often used for smaller expenses though I could of course explain more in 'additional information' . The only other options would be 'advertising and business entertainment costs' (my thinking is that this is typically specific material to advertise a business, such as say newspaper ads and a promotional website - rather than the actual main website itself) and 'phone, fax, and other office costs (but
I am using QB online and I have a tourism business. I have invoiced the client for the deposit of 20% which has been paid. I managed to do that invoice but can't remember how!!! Now I need to invoice for the 80% balance. In the deposit invoice, I had it all line-itemed with each line's quantity at 20% of the total quantity against the cost per item, for example, 0.4 as 20% of 2 of something, etc.Now I need to generate the same format invoice but for the 80% balance. When I do try, it comes up with the exact same invoice structure, with everything line-itemed at 20%, but adds in the sales amount of the 80% as a line item.What I would like to do, is have the invoice reflect each line item as 80% of the total, then add in the funds received, and show the balance due at the bottom.Any help is greatly appreciated!
