The quickbooks tag has no wiki summary.
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Quickbooks: cannot apply payment in accounts receivable to invoice
Need help deleting or applying a payment to an invoice in quickbooks. One of our clients shows a payment in the Accounts Receivable details/transactions list, but Quickbooks will not allow this ...
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1answer
51 views
How do I set up a budget in Quickbooks 2010?
I am treasurer for our school's PTO, and I use QuickBooks Premier Nonprofit Edition 2010.
I am trying to track budgets of two different types, and I can't figure out how to do it properly in ...
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47 views
Credit Card Pre-payment
Can somebody tell me how to reconcile this transaction in Quickbooks. I have two payments itoa credit card for the same period. One is tied to last month's reconciliation but the other one is just a ...
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90 views
Accounting for escrow payments in Quickbooks?
I am using Quickbooks 2011 Pro. I want to bill my tenants ahead each month for a utility (water) that itself bills once a quarter in arrears. When the water bill arrives, I want to make the next ...
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1answer
43 views
How do you account for a cash payment by a customer in which some is used for payment to a vendor?
I am using Quickbooks Pro 2011. I received a $750 cash payment from a customer, then used $150 of it to pay a vendor's invoice, creating a bank deposit of $600.
I can't figure out how to credit the ...
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1answer
107 views
How can I make Excel handle fractions like Quickbooks?
When you have a fraction in Excel like 1.085 rounded to two decimals = 1.09.
In Excel if you add a series of these fractions with displayed two decimals of precision you are really adding 1.085 and ...
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46 views
How do items get into the outstanding invoiceable expenses, mileage, and items tabs in QBs
I use Quickbooks Professional 2009.
When creating a customer invoice there are four tabbed columns with content addable to the invoice: time, expenses, mileage, and ‘items’. I understand how time ...
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1answer
73 views
Returning invoicable time to 'outstanding time' pool
I use Quickbooks Professional 2009.
When I create a customer invoice for a period with ‘outstanding time’ Quickbooks asks me to include it by checking off boxes; fine that works. But if I need to ...
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119 views
What is a Typical Quickbooks Workflow?
I would appreciate a coherent outline of a typical Quickbooks workflow. Basically a list of what should be done and when/where from inception all the way down to reconciliation of downloaded ...
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2answers
363 views
How to reconcile a credit card that has an ongoing billing dispute?
I currently have an ongoing billing dispute/inquiry on my American Express Business Charge Card that is causing me problems when reconciling this account in Quickbooks. Since my statement balance ...
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1answer
191 views
How do I deduct from Sales Tax Payable in Quickbooks?
(This question could probably use a better title)
My current process for paying sales tax works as follows:
I collect payments against invoices from clients throughout the month
As I collect these ...
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1answer
120 views
Sales taxed amount in Accounts Receivable?
When I enter a new invoice for a client, for example $1062.50 ($1000 + MA sales tax) do BOTH Accounts Receivable AND Sales Tax Payable go up by the following?
Accounts Receivable +1062.50
Sales Tax ...
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1answer
69 views
Quickbooks custom field for computing a value
I'm have a newb question with Quickbooks. I'm a programmer and this shouldn't be that hard, but I'm not sure how to ask so Google isn't working for me. For projects my business bills for we charge a ...
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1answer
537 views
Paying myself a distribution caused a negative Owner's Equity account balance? Is this normal?
I just paid out my first distribution from my LLC. I wrote myself a check for $200 (example), using my business account and selected Owner's Equity. When I look at my summary of accounts, I notice ...
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1answer
784 views
How to report a bill was paid in journal entry?
I have a couple bills in my name in QuickBooks from business expenses that I paid for personally. I have since paid myself back ("paid the bill") but it was during the early months of my business (no ...
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1answer
1k views
How to record expense sheet as journal entries in Quickbooks Online?
Let's say I own a business and I make 3 business-related purchases on my personal credit card in August. Given the following example expense report:
08/01/2011 - $20 - Web Hosting
08/05/2011 - $130 ...
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1answer
81 views
Quickbooks Online “restore point”?
I am considering redoing a large portion of the way I have been managing my books in Quickbooks Online. I would like to create a "restore point" of some kind though, in cases I end up messing things ...
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1answer
214 views
How to account for money earned and spent prior to establishing business bank accounts?
In terms of QuickBooks...
How does a newly started business, an LLC in my case, account for payments received and money spent PRIOR to having organized business bank accounts in place? Is there a ...
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1answer
102 views
How important is reconciling accounts for a small LLC (Quickbooks)?
We are in our first year of starting a small LLC. We are using Quickbooks Online and things are going well. The only exception is that, due to our lines of credit and bank accounts being personal ...
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1answer
3k views
How to record business income tax paid, in QuickBooks?
This is not a personal finance question, but I don't see a StackExchange site dedicated for business finance/accounting. So I'm asking it here.
I run a small business (LLC) and using QuickBooks for ...
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1answer
448 views
Quickbook Balance Sheet showing strange numbers (to me at least)
I have been using quickbooks for some time (less than a year) and today when I was looking at my balance sheet I noticed something that seems really strange to me.
My Total Assets number is $300,000. ...
