Prepaid Rent and QuickBooks
Prepaid Rent and QuickBooks. I consider this a bit of a trickier transaction. Why? Because it involves a account that can be considered not the “norm”. What type of account is prepaid rent? It is current asset account that reports the amount of future rent expense that was paid in advance of the rental period. […]
Continue readingOutstanding transaction filter: QBO Hidden feature
Outstanding transaction filter, you may ask, what is that? Do I have that in my QuickBooks Online Program? The short answer is yes, you do. You may never have a need for it, but it is good to know it is there. It is like that filter the check register trick that my daughter taught […]
Continue readingQuickBooks Payments are not depositing
QuickBooks payments are clogged up. They just sit there. Like this kitty. They don’t move. The bank feed shows an “Intuit Sol” deposit but you cannot match it because it is not auto-populated. The system is not doing the last step in the process of automatically making the deposit. How do you figure out what […]
Continue readingEntering Owners Draw QuickBooks Online
Owners Draw or Owners Deposits and entering them into QuickBooks Online can be confusing. Maybe you don’t know which account to put them in? Or even if you should have this type of account on your books. So, what is the difference between Owner’s Investment and Owner’s Pay? Well, the first question you want to […]
Continue readingDouble Revenue – How to correct in QBO
Double Revenue? How is this possible? You may be noticing this today as you review your year-end records in QuickBooks Online (QBO). While it would be wonderful to have double revenue with single expenses. It would not be wonderful to pay taxes on monies not earned. Double Revenue: How to spot the error….My first “red flag” […]
Continue readingVendor refund in QuickBooks Online
Vendor refund in Quickbooks Online is one of the confusing bookkeeping transactions. Lots of people overthink it. I see this question on the Intuit Community forum a lot. I think because you are depositing the check into the bank and it involves accounts payable, it seems to trip people up on how to enter this […]
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