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Can you make a video on how to record/deal with sales tax withholding?

Thanks for the information. I have one question, if I enter bills under a particular category and would want to show this amount in an asset, is it possible to enter it as journal batch debit vs credit balance €0 ? (so not to do a double entry) And if so does this affect by increasing an other account/ report or it just shows as a reference on the asset account? I need this to keep track of a particular category expense.

Ive been trying to categorize my snapped qb app receipts on my business's qb-online. how to i categorize the expense when i purchased inventory (cogs) with single owners personal store gift card (owners own money or a owner's personal credit card) using the 'owners investment' category, not business funds? Thanks so much.! pls, its so appreciated:)

Thanks! Subscribed- and currently trying to figure out how to record my credit card and loan payments …

Thanks for the video. Informative. Next step: How do I record when I reimburse myself for the expense that I recorded that is owed/outstanding?

This is a great video. Liked and subbed! Question for you, would you use the split transaction feature to do something like claiming a portion of a electricity bill expense where part of it is for a home expense, and the other part of it is a business expense? And if so, would the part that is the home expense be a owner contribution, and the business part would be a utility? I am assuming you would have to do the math separately to calculate the percentage of the home used for the business, and apply that to the total electricity bill...

This video is extremely helpful. Would love to see any trust reports you have created in QBO, what perimeters you used to create them and how to interpret the data of the report. Also would love to see the additional videos you have referenced. Have you posted any yet. I just subscribed today.

Hi there, is there a way to post opening balance of unbilled time to various customers (from an old time and billing system) in QBOA? Thank you.

Thank you for detailing the video . One question garnishing expenses has decreased expenses from income statement but even though it is deducted from employees'salary the organisation pay . For example the salary is 10000 and the employee's contribution is 1500 . In this case you are saying Salary entry "Salary a/c dr..... 10000 , salary payable a/c cr. 8500/- , garnishment expenses a/c cr 1500. Payment entry salary payable a/c dr. 8500/- To Bank ac cr........................8500/- Question : how the garnishment expenses will be paid because expenses have already decreased. Kindly guide.

What about if the invoice is made in stripe so there is not invoice to use in wave just the deposit from Stripe to the Bank account?

Thank you, thank you, thank you!

Hi Michell, I created the client reimbursement account as a current asset account. When I make a payment, I record it as an expense and mark it as billable. Then, after I invoice the client and they pay the full amount, I settle the invoice. However, the balance sheet still shows the client cost advance as remaining, while the same amount appears as client reimbursement income under other income. How can I set up the settings to ensure these accounts zero out? When I record a reimbursement, all the records are processed properly, but the current asset and reimbursement accounts are showing separately in the balance sheet and profit & loss. Thank you so much for your valuable time

Because the feed put the transaction in there, could you just avoid a journal, and just split the feed transaction up? That’s what I do with my rentals. I get the feed auto in….for $5000.00 Then I split it 3 ways… Mortage account. Interest account Escrow account

This video is very helpful. Well presented information, I can see what is going on clearly, the audio was good and no filler information. Thank you for posting, I appreciate you.

Video doest start..

If a parent sent a check for a client's extra spending. I would deposit the rent check and the balance goes into a reimbursement account. I would then disburse the excess money, how would I do the entry if I am paying her the cash from petty cash? Thank you.

When reconciling the credit card, what blance do you put in? the remaining credit that is left or the amount that has been used?

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Do you give one on one tutoring?

This was an excellent explanation of three ways to record income and payments! Thank you!

Hi Michelle, Thank you for this video. I have another situation if you could help me out. I would like to issue a credit memo to my customer, the item is an inventory item, but the product is not being returned. It is disposed for credit. How do i track and record the item without it decreasing my COGs and to be listed as a chargeback? Thank you!

I would love to see a version where there are problems you need address/troubleshoot.

Hello I a situation where my business checking account was temporarily frozen and I had my business sales, purchases, and expenses coming out of my personal account. How do I separate these transactions? Thanks for your assistance and feedback. Johnie

Great

Is there a different way to record inventory in and out, instead of using purchase orders or invoices, or writing a check? Can the numbers be adjusted manually monthly, and then will QB post a journal entry?

If for example you are invoicing monthly for billable time worked. Have you found a way to consolidate the invoices so it's not generating an invoice with 30 lines for example if the consultant worked a little bit of billable time each day in a month period?

fantastic! Was using quickbooks for our business that ended, but now starting a new one up again and I definitely can manage Wave for free for a bit until we get going. Great tutorial thank you

You made this very clear and straight forward. I got my answer in less than 3 minutes. Just want to say thank you! Sub!

Exactly what I needed, thank you!

I've been a Wave user for a while, but never really categorized my income or expense accounts. Now I think I really messed up by incorrectly categorizing Income accounts. I made up my own category; i didn't use an existing one. Now all of my customers are getting Unpaid Invoice emails, even though they've paid. I'm thinking I may have unintentionally created a duplicate invoice. Please help!!

Thank you for the video! I have two separate accounts, my personal and my business. I accidentally paid for a business expense with my personal credit card. After doing the journal entry as you showed in the video, should I delete the entry in my personal account that was created from the automatic download?

Very good teaching i do that process but then i go back to my transaction page and hit add it makes a duplicate transactions

Thanks for this video. Super helpful for my situation. What would happen once the company pays the personal funds back for the expense? Does Owner's Equity get debited and Company Cash Account gets credited for the reimbursement amount? Also - if the personal funds are paid by an employee (vs an owner), does the accounting for this change? Would I just record it on a different type of account (not owner's equity)?

My client doesn’t have each customer accounts. Any recommendations on how to handle it in bulk. My client keeps everything in a separate software.

Does this work for an insurance agency?

Thanks so much for your video - you make it look really easy. Does it let you have uncleared deposits or withdrawals? It looks like all the transactions need to be clicked off...

How do you keep the sales tax applied to the whole total when deducting the processing fees?

I have a 2015 i Mac desk top. Osx 10.9.5 and I enter Pw username and it just keeps spinning. It must be too old to work.

My wave app looks different on I pad??

OMG thank you so much for this video!

So nice to learn from you, thank you. Is there a way to create a report and print it of the expenses for a year?

Thank you Teacher!

learned , i need more elaboration regarding bookkeeping , especially doing actual reports tutorial. I really want to learned and familiarize bookkeeping task. I aspire to work as an online bookkeeper.God Bless you👍🙏

You are a blessing! Thank you for all you've done!

Thank you for your videos!

S-Corp owner here. Have a 100% home office. It’s 280sqft. I want to use what the IRS calls the simplified method for home office which is $5.00 sqft. This is $1400.00 per month in reimbursement to me. How to record that in QBO? I’m guessing it’s just an expense, but what category? It’s not payroll, it’s not maintenance and repair lol,

A LLC that elects to be taxed as a S Corp must have an accountable plan in place to reimburse for home office, auto (that’s personally owned) etc… My question is what category is this in QB? I’m guessing it’s just an expense, but am I the vendor?, and what category? It’s not labor, not cost of goods….

I am not able to edit RECORD PAYMENT transaction.

Very good