These are the specific steps you can follow in QuickBooks Online (available in plus plan only) if you are donating or giving away tracked quantity on hand inventory items. Create ZERO Value Sales Receipt for Inventory Items: 1. From the Home Page screen > click Create (+) Sign (top middle bar) > Customers > Sales […]
Category Archives: Chart of Accounts
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 […]
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. […]
How to account for the gain or loss on a fixed asset sale
How to change the account associated with product and service item
How do I set up Owners or Partners Equity in Chart of Accounts
Importing a chart of accounts (COA) from Excel file
Entered opening balance is wrong. How to fix it.
#QuickBooks – How do I start with a blank chart of accounts in QBO?
If you’re a new customer and are within the first 60 days of having set up your account, you can delete all of the existing data and start over from scratch. If your account has been setup for more than 60 days you will need to cancel your current company and start a new company […]
#QuickBooks – How do you print bank register in QBO
This feature is available although it is still on QuickBooks Labs stage right now. It is a part of the “New Registers” feature at the labs. To go to “QuickBooks Labs” and turn this feature on: From the home page screen Click Company Gear (upper right corner) Click “QuickBooks Labs” under Settings Turn on “New […]