This article addresses how to allocate a bulk number of transactions within the bank feeds (bank transactions) area in QuickBooks Online. For example: Suppose there are ten new credit card transaction that imported from your (connected) online CC account into the bank feeds (bank transactions) area in QuickBooks Online. Further, let ‘s say that
Read MoreThis article addresses the issue of conveniently importing credit card transactions into your QuickBooks company file, but from a PDF type of file. Sometimes (for whatever reasons), you may not be able to obtain a convenient spreadsheet download (or from a bank feeds connection) of your credit card transactions, but instead are able to obtain
Read MoreThis article addresses how to find and review your Reconciliation reports in QuickBooks Online. Perhaps for audit reasons, you may need to pull up a banking reconciliation report for the auditor to review. This is done very simply in QuickBooks Online; it also helps that you know how to review a reconciliation report as
Read MoreThis article addresses how to create a customized Unpaid Bills with Purchase Order number report in QuickBooks Online. This report is simply a clear and convenient way to view all of the current vendor Unpaid Bills with the associated Purchase Order number (if you are using purchase orders in your bookkeeping system in QBO).
Read MoreThis article addresses two popular financial reports that insurance auditors typically request from a business for general liability purposes (Also known as an Insurance Premium Audit). Please Note: Your particular insurance auditor may request information such as: Sales/Receipts Financials including the P&L OCIP Sales/Cost by Project Direct Labor Costs as a percentage of
Read MoreThis article addresses the concept of taking expense payments made this year and recognizing them for Income Statement purposes in the previous year. To better explain, here is a scenario: You received a services bill from a vendor that is dated January 5th of 2023, however the services that were performed all occurred in
Read MoreIt is important to have a general outline of how to handle the sales of your speculative homes (spec homes) in your bookkeeping system. In a previous article, I discussed the Balance Sheet type of accounts that would be affected when you finally sell your speculative home that you have built from the ground up.
Read MoreThis article addresses how to take a regular purchase transaction that is currently residing in your QuickBooks Online Bank Feeds section and split it into multiple expense categories. Here is the scenario: Your QuickBooks Online company file is directly connected to your business bank account via the Bank Feeds section. You recently had a
Read MoreThis article addresses how to post a payroll tax liability adjustment in QuickBooks Desktop. Here is the scenario: You received your annual Texas state unemployment tax rate notice that informs you of what your effective tax rate will be for the upcoming calendar year. Unfortunately, this notice did not arrive until well after the
Read MoreThis article addresses what to do when your Accountant requests the “financial statements” regarding your business activities. Sometimes your CPA may not be very specific in these requests, however, typically the financial statements are what I like to call, The Big 3: Balance Sheet Profit & Loss General Ledger Be sure, however, that you do
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