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Converted to a new accounting system from QBO. What QBO data do I need to keep in the event of an audit?
Here is a list of reports I recommend to have it on record (export to excel, or save as pdf) before canceling the QBO subscription: General Ledger (All Dates). Depending upon the file size limits, it may need to be downloaded in batches. Trial Balance by Fiscal Year Ending Bank Reconciliation Reports (for last three…
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How do you match a deposit to a receipt when the credit card refund is more than the actual deposit
Example: We received a credit card payment from customer A ($334.00) and sent a credit card refund ($1,000.00) to customer B on the same day. This resulted in a net negative deposit ($666.00) from our credit card merchant provider. How to match a refund receipt and a regular receipt to properly match the deposit in…
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QuickBooks Online QBO Tutorial for Beginners – August 2016
How would you like to learn QuickBooks in 90 minutes? This FREE video tutorial is specifically designed for beginners in mind. You will learn QuickBooks Online the right way from the start. It covers all the basics you need to learn and offers some helpful tips. If you are looking for step-by-step educational guidance and…
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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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Handling Multiple Vendors Refund Checks Deposit in QBO
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QBO Issues: Costco’s switch from American Express to Citibank Visa
Helpful articles Costco American Express has moved to Costco Citibank – Error 324 As of June 20th, 2016 Costco has ended their partnership with American Express and started a new partnership with Citibank. This impacts customers using Quickbooks Online and have their Costco American Express credit card connected to their account. Customer using the Costco…
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QuickBooks Online File Size and Feature Limits
QuickBooks Online does not have a file size limit. However, if you enter huge amounts of data, you may experience a reduction in response times. Note for US customers only: For information on the limits of exporting desktop data into QBO, see Export limitations (US). https://community.intuit.com/articles/1145409-export-limitations For example, if you enter as many as 3,500…
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Copy an Estimate to a Purchase Order
[huge_it_slider id=”4″] Video Tutorial:
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From the Banking Center, how do I split a single expense transaction between two vendors
You will need to take the following steps in QBO if you need to enter a single transaction split between two vendors. In this example, the transaction amount is $11.23 and you want to split between two vendors (vendor A = $6.23 and vendors B = $5.00). #1 Enter manually those two vendors as a…
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How to create Sales by Customer Detail report that only shows one line per item invoiced
Sales by Customer Detail report (screenshot 1) is for both income and COGS for inventory items (screenshot 2). That’s why the report is showing positive and negative numbers. To show one line per item in essence for income only, you will need to customize the report. Click the customize button > Go to Lists section…
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How do I generate Income by Invoice report in QBO
Run Transaction Detail by Account report. Customize > Lists > Transaction Type = Invoice Distribution Account = All Income Accounts Change report title (optional) = Income by Invoice This customized report should show income by invoice. Filter for Invoices for the time period as needed. You can further customize the columns (add or remove) by…