This article addresses how to create a Balance Sheet that displays different points in time on one statement in QuickBooks Online. To begin, remember a typical Balance Sheet Summary report (most likely the report you are used to always seeing) is only going to display your Asset, Liability and Equity account balances as of only
Read MoreThis article will be part of a series of articles dealing with the matter of posting payroll expenses and liabilities in your books via journal entries. Part 1 will specifically address recognizing 401(k) employee deductions and the corresponding company contributions and liabilities in your books via journal entries. So, to get started, let’s
Read MoreThis article addresses the Accountant’s Copy file in QuickBooks Desktop. Sometimes a CPA will request an Accountant’s copy of the entire QuickBooks Desktop company file in order to be able to review and post adjusting journal entries (for a prior period of time) without affecting any current bookkeeping work that is a part of your
Read MoreThere a function in QuickBooks Online called “Delayed Charges”. This is located underneath the Customers menu within the “New” button on the left-hand side. The purpose of this function (it also can be called a non-posting charge) is to store your ongoing charges, to be billed out to your customers at some point. This function
Read MoreThis article addresses the basics of the a 1099-NEC creation and printing process in QuickBooks Desktop. So, to begin: Go to your vendors menu at the top>1099 Forms>Print/E-file 1099 forms. Click on “Get Started” underneath the Form 1099-NEC option. Select your vendors whom you want to process a 1099-NEC form for, then click
Read MoreThis report is simply a convenient way to view the capitalized costs (non-expensed) associated with each customer/job, separated out (and displayed) per column of information, but, of course, all on one report. This report, perhaps, would be convenient for industries such as speculative home building but can be useful for anyone that is especially interested
Read MoreThis article addresses how to create a customized Profit & Loss by Job report in QuickBooks Online. This report is simply a clear and convenient way to view the profitability of all of your customers/jobs, separated out (and displayed) per column of information, but, of course, all on one report. This report, perhaps, would be
Read MoreIf you are a small business that engages in speculative home building, then you probably also have access to that speculative home’s construction escrow account (from a previously arranged loan agreement). Since the building of a speculative home will be financed by a lender (such as a bank), you, as the home builder, will need
Read MoreThis article addresses the issue of what to do when you discover one of your service items is not booking transactions correctly to your chart of accounts. Perhaps you reviewed a Profit and Loss report and discovered the following scenario: One of your Cost of Goods Sold accounts has a huge negative balance.
Read MorePart 2 in this series of tracking investments in your QuickBooks Desktop file will only cover tracking your cost basis of your paper investments. For each type of equity holding that you purchase: Example: 50 shares of XYZ, Inc. at a market price of $2/each = a value of $100 cost basis. I like
Read More
AccuraBooks