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Revolutionizing Accounting and Finance with AI.
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Trial Balance and General Ledger available in Simple Start
Woohoo! Trial Balance and General Ledger reports are now available in Simple Start plan. With these two expanded reports, you can run necessary financial reports such as Balance Sheet, Profit and Loss, Trial Balance and General Ledger for conducting audits and filing taxes in Simple Start.
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Bank feed populates all downloaded check transactions with the same Vendor
EXAMPLE: My bank feed populates all my downloaded CHECK transactions with the same Vendor. I change the vendor payee category on any given transaction it will change for all downloaded transactions in bank feed. There is no bank rule setup for this. Is there a way I can turn that off? Unfortunately, you can’t turn…
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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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How to enter prepayment to the vendor supplier. How do I match vendor bill received later?
You have two ways of recording the transactions depending on the type of supplier pre-payment. Is it a quick turn around or will it take a longer time to complete the job or service? 1) When you make vendor pre-payment, use Accounts Payable (A/P) under the Account tab. When the supplier bills you, create a…
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QuickBooks Online Progress Invoicing
QuickBooks Online is introducing Progress Invoicing which is still in “beta test” mode as of writing this blog article in February 2018. That means there could still be significant changes until they wrap up the beta test. Progress Invoicing feature allows you to invoicing a client incrementally for the percentage (or fixed dollar amount) that…
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Intuit Online Payroll Account Changes in March
Intuit Online Payroll Account Changes in March* The Intuit Payroll Team In our world of ever-changing and increasingly advanced cyber attacks, Intuit must continually work to enhance our systems and adapt to new security threats. More than 30 million people trust Intuit with their personal and financial information, and we take the job of protecting…
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How do I match a new Invoice to a payment that’s already been deposited to a bank account
This article will show how to link a deposit from a customer to an Invoice. Let’s assume the customer payment was entered first through Bank Deposit (this may be from bank feed or entered manually) instead of Receive Payment form and then you’ve created an invoice later, you can follow the steps below to link…
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How to handle vendor subcontractor retainage retention in QuickBooks Online
Let’s get started. Follow the step-by-step instructions. Example: A vendor/subcontractor perform work on our behalf, we deduct 20% of the bill amount as Retention when we pay them. This is to protect us from any potential liability out of their faulty work. How do I record it in Quickbooks? 1. To set up sub-contractor retainage…
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How to handle customer retainage retention in QBO
How to handle customer retainage retention in QuickBooks Online? Example: A customer we do work for keeps 20% of our invoiced amount until we reach a certain amount. That money is ours. They just hold it back in an account for us in case something goes wrong on a job that is our fault. How…
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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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QuickBooks Online: Customizable Homepage Dashboard Screen
We have received all kinds of QBO questions over the years. But the single biggest question we keep hearing is how come QBO homepage is not 1-click navigation to the main activities. One click to create Invoice. One click to Receive Payment. One click to Write a Check. One click to Pay Bills. Run memorized…