Category: Chart of Accounts
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QuickBooks Online Chart of Accounts: Missing Credit Card Account Type in new Chart of Accounts
QuickBooks Online Chart of Accounts: Where is Credit Card Account Type in QuickBooks Business view? The “Bank and credit cards” category does not include the “Credit card” account type. The options are Cash on hand, Checking, Money Market, Rents Held in Trust, Savings, and Trust account but no Credit Card. If you’re experiencing this,…
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Accounting: Record A Vehicle Purchase With A Loan, Trade-In, And Down Payment
Accounting: Record A Vehicle Purchase With A Loan, Trade-In, And Down Payment
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How to Inactivate multiple accounts at one time in the Chart of Accounts?
How to Inactivate multiple accounts at one time in the Chart of Accounts? #QuickBooks #QuickBooksOnline #ChartOfAccounts how can you inactivate or deactivate several accounts at once in the chart of accounts?
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QuickBooks Online – Account setup for Periodic Inventory basis in QBO
NEW!! QuickBooks Online Inventory Deep Dive Deep Dive into QuickBooks Online Inventory One time test drive or 30-day free trial link:https://newqbo.com/test-drive/ #QuickBooks #QuickBooksOnline #QBO#QuickBooksInventory Table of Contents 00:00 Intro00:14 Brief Notes On QuickBooks Online Inventory History01:33 Which QBO version allows Inventory tracking?02:04 Test Drive One Time or 30-Day Free Trial05:16 Turning the Gear Settings on…
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How to wipe out QBO company data file and create an empty Chart of Accounts COA
If you have Essentials (or higher) plan and your account has been active for 60 days or less, you can wipe out your company data file and also create a new chart of accounts at the same time if you want. To wipe the data and create a new COA from your QuickBooks Online account:…
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Track billable expenses and items as income in a single account or in multiple accounts
Adds a “Use for billable expenses” checkbox to an account’s edit screen in the Chart of Accounts.
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Chart of Accounts – Listing of available Account Types and their associated Detail Types
Chart of Accounts COA – Listing of available Account Types and their associated Detail Types in QuickBooks Online (QBO) Account Type Detail type Cash on hand Bank Cash on hand Checking Bank Checking Money Market Bank Money Market Rents Held in Trust Bank Rents Held in Trust Savings Bank Savings Trust account Bank Trust account…
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QuickBooks Online – Connect bank accounts through your Chart of Accounts COA
You can now connect an existing bank account from your Chart of Accounts. Select Accounting from the left dashboard, then Chart of Accounts. Find the account you need to connect and in the Action column, select the View register (or Account history) drop-down and choose “Connect bank”. Follow the prompt and complete the process for…
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How to add an account number to default accounts set up by QuickBooks such as Sales Tax Payable
BUY QuickBooks Online – Anytime, Anywhere. Easily Track Sales, Bills and Expenses. Here’s how to add an account number in QuickBooks: To enable account number settings: Click on the Gear icon. Select on Account and Settings. Select on Advanced. Under Chart of accounts, turn on Enable account numbers by clicking the pencil icon. Put a…
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Is it possible to reclass multiple entries in QuickBooks? I like to reclassify multiple transactions in batch, not one at a time.
You can do batch reclass for expense transactions recorded to Account details tab. They use the account from the Chart of Accounts. These expenses are created using the Expense, Check or Bill in QBO However, if it’s sales forms entries like customer invoices that use the product/service item code, then it’s not possible to do…
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What is the difference between account details and items details
In QuickBooks Online (QBO), “Account Details” refers to a selection of an account from the company chart of accounts to categorize expense type (or non-expense type) whereas “Item Details” mainly refers to adding an item from products and services list like the purchase of inventory items by quantity and unit price. It may also help…
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As a sole proprietorship, what detail type should I use for Owner’s Draws account in QBO
In QBO, I would use Owner’s Equity as detail type for Owner’s Draws account name. Category Type: Equity Detail Type: Owner’s Equity Name: Owner’s Draws [wpedon id=”7748″ align=”center”]
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Why is my credit card beginning balance negative
You will first need to check the account TYPE in the Chart of Accounts. If you’ve manually entered the credit card balance as a positive number when, creating a new account in the Chart of Accounts, on reconciling screen, your beginning balance should also be positive, not negative. You will need to check the TYPE…
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How to track donated inventory stock items by your business in QuickBooks
NEW!! QuickBooks Online Inventory Deep Dive These are the specific steps you can follow in QuickBooks Online (available in Plus and Advanced plans only) if you are donating or giving away tracked quantity of on-hand inventory items. Create ZERO Value Sales Receipt for Inventory Items: 1. From the Home Page screen > click Create (+)…
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How to reconcile the Undeposited Funds account the same way like bank accounts
Currently, there is no option to reconcile undeposited funds account. The undeposited funds account is not on the listing of accounts that can be reconciled like for bank, credit card and other assets and liabilities accounts. Interestingly, it’s sort of automatically reconciled when existing payments from the undeposited funds transferred to the bank account. What’s…
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Owner paid a subcontractor with his own money. How to make sure Vendor shows up on 1099 and still able to write the reimburse check to the Company Owner
First, you will need to create a new dummy bank account. You will also need a due to the owner as a liability type account to use it for later reimbursement. Step#1 Use bank deposit form (create + sign > other > bank deposit) to record contributed amount by the owner to pay a contractor.…