Hector, as always thank you so much for this! I feel like I've explained this so many times -- but you have done such a great job here and covered it so completely that I'll be sharing this from now on as needed. You're the BEST! I really don't know what we would do without you around -- I feel like you are our voice.
You are super amazing Hector! I'm new to Quickbooks and was struggling to understand how to categorized an online transfer of one credit card to another credit, but now I think I finally understand. I plan to continue watching all of your video's. I sure wish you had a class that offered hands-on training because I would pay just about anything to attend your class. For now, I feel lucky and blessed to have found your video. Thanks again, Hector
This is exactly the information I have been searching for. Clear and concise for dummies :). New to QB and lots of catch up to do (while trying to learn as I have been "handed the baton" ) I will be signing up for whatever courses you have available. Thank you, thank you, thank you. You are an incredible teacher.
Haha! As soon as I saw the cover of this YT video, I started laughing hysterically. Yes! This is THE number 1 thing I tell my clients not to use. It creates so much havoc. Thanks for the video! I will be sharing with the clients that need a reminder.
Thank you for always uploading new videos every day. Could you also make a video on how you usually review the Balance Sheet and Profit & Loss? It would be great to hear some useful tips on this topic.
Yes! I noticed that right away when I helped a friend with her Quickbooks online. I was still new to QBO and found it interesting how any of her 'E transfers' that came in were matched as a transfer by default. I showed her how to click 'categorize', and she could then record her etransfers as her deposit which was actually income. But wow- the uncategorized asset was so strange! Glad it got changed.
Also, (sorry Hector. I do love your videos…) I do use transfer for my real estate loans as well. 1st of the month let’s say I get $4200 debit come up in my bank feed on my checking account. I split and record the transaction 3 ways. 3 accounts. Principal applies to loan listed in liabilities Interest account Escrow account Then hit the transfer button.
At 18:07 you made a VERY important comment that you need to make a video about. You said "unfortunately, it doesn't delete the transfer..." I have been trying to understand how the "Undo" action works in the "Categorized" list of transactions in the bank feed. I have incorrectly accepted some credit card transactions, so I have used the Undo action, but I feel like there may be residual entries that are not also removed and that continue to impact my books. You might consider a video that explores the use of the Undo action and the other steps a user might need to take to address an incorrectly accepted transaction.
Thank you for this video Mr. Garcia! I have a tricky situation, which is categorizing a balance transfer from one business credit card to another. What is the best way to handle this situation?
Great information! My issue is there’s a transfer in my QB that is not on my bank statement or credit card statement. I would love your advice on what to do about that 🤔
Hey Hector! Love your videos. You explain everything the same way that I do, and love and hate the same features... I feel like we might be the same person. :)
Thank you for the great content. Couple questions: 1- When I record a transfer from X bank to Y bank, it is doubling the transfer and does not consider that there are bank fees paid, and keeps original amount (i.e. 19000 from X is recorded as 19000 in Y) although the bank statement shows that it was deposited as 18500 2- How to reflect the bank charges and fees on the transactions/transfer/credit card payments that we make
Hector- thank you for these videos. i am new to bookkeeping and always turn to your channel when I have QBO questions. QUICK QUESTION- What do you suggest for Lines of Credit? My boss has a bus checking account and bus line of credit from the same bank. the previous bookkeepers recorded money moving btw these accounts as "transfers." is this ok? He also has another line of credit from a different bank that gets recorded as expenses. What would you suggest as best practices for these transactions?
Hi Hector! Love your videos! Do you have any video that explains in details how to pay a credit card that has other credit cards as sub-accounts? I have seen some people that say "apply to payment to he main one" and others tell you to "split the payment between the subaccounts" and I am not really sure what is the correct way. Could you please advise? Your help is always appreciated!
Also, transfer can be useful when the 2 accounts are in different currency. For example, Amazon Canada account deposits money to my US bank account. Normal categorize function doesn't support currency conversion.
Thank you for the transfers on the bank feeds. It is sooooo confusing. I need to practice on transfers. Is it best to click on "Record as transfer" then click "Add" or should I just click on "Record as transfer" then click "Record as transfer" on the top line? I just don't want to duplicate it.
I wish there were an additional function for the record as credit card payment, especially when dealing with multiple subaccounts, instead of excluding the transfer payment and creating an expense to properly record the payment.
I am new to Quick Books, if I have made a mistake and entered an expense as a transfer that has already been reconciled by my bank. How do I delete the transaction and re enter the correct transaction and mark the new corrected transaction as reconciled. You did an amazing job describing the trap of transfers. I think I know how to avoid my mistake in the future but I need to correct my mistake, thanks in advance!
Hello Hector. Thank you so much for the video. What if intercompany A pays intercompany B’s credit card bill? How to categorize it? I’m a little bit confused because I’ve seen that it was categorized as transfer- transfer to due to/from B. Or expense it in company A side and make a journal entry in company B side? Please let me know which way is correct or any correct way.
It goes in the Due To/From account. Could be a “Transfer” or could be an “expense” transaction… as long as its going to the right balance sheet account..
Hi Hector. I very much appreciate all your videos. I have a question, why you do not like to use transfers between a Business account and a Personal Account? I have a client SMLLC that does draws all the time and I use transfers to record the transaction. Am I doing it wrong?
Hi Hector! Quick question is it possible to create a savings account as a bank register that is actually not a real bank account and be able to transfer money into for a future business trip? And if not how would that be processed, saved and/or recorded?
Would love a video on using estimates - and why does QB not have a feature that allows the customer to accept or reject an estimate when you've emailed it to them, or am I just missing it? Best I can tell, you need a third party add-on to do that, is that correct?
Thank you Hector. What about if you make a credit card PAYMENT from a checking account. Once both transactions are showing on the feed but you need to split the card payment into principal and interest then the bank transaction is no longer showing as a pair or match . Am I supposed to "add" that transaction into the checking split up as in the credit card feed? I dont want to duplicate the entry. Thank you
Great video Hector. I am a fan, I watched a lot of your videos, great material. I have a question which i asked in the Quickbooks community but I keep getting the same answer that I found by searching. Here is my situation: I am using QBO plus, I am a sole propietor, I need to track actual my vehicle expense, things like fuel, maintenance etc, when I first started my company I used the actual expense therefore I must continue using the actual expense, anyhow, there is a section in QBO under taxes/income taxes where it gives you a overview of what your tax situation will be for the year, it works for all of the categories, except for the actual vehicle expense. I set up the vehicle profile, in the chart of accounts, I set the vehicle expense for the tax forms to be categorize to "Auto", so I at loss here because i can't seem to figure out how to get this part to work for the actual expense. I am using this function for two other companies tracking the mielage expense and it works for that but not the actual. When i do a search for it in the QBO community I get instructions on how to separate business from personal expense when categorizing using QBO self employee. If you know the asnwer to this question it would be greatly appreciated.
@@HectorGarciaCPA, but it works if I use the mileage expense because it does work on the other 2 QBO company accounts that i have for my other two businesses.
If I have a transferbetween accounts, and QuickBooks suggests:" Categorize" into the correct account and they are both amounts linked- will that have the same impact as choosing "record as transfer" I see on the first column it says expense - instead of Transfer but it does not actually create an expense in the P&L, should I leave it as is or undo it and switch it to transfer?
Hi, Hector, how about trafer between locations, or, businesses purchase inventory in bulk and transfer to different location from ware house, guide me please Essa
@@HectorGarciaCPA ...thank you so much for the reply! PLUS, THANK YOU for all the informative video's that you post!!!! Is it a double JE? DR: Cash Acct of receiving entity & CR Cash Acct of the paying entity PLUS DR: Inter Company Loan Acct of receiving entity & CR Inter Company Loan Acct of the paying entity. Then at year end zero out ALL Inter Company Loan accounts by offsetting (DR or CR) the Equity account? Just curious...Could you possibly do a short video on this?
@@HectorGarciaCPA ...With your clients, how do you typically handle this single JE transfer transaction? Do you handle it as an inter-company loan or run it through an equity acct? I assume going through the equity acct would eliminate the need for a year-end clearing JE. I searched TH-cam to find other QBO accountants & how they handle this transaction. Only one had something & it was 8 years old.
Hey Hector, I am stuck on a transaction. There is a payment that is in my bank feeds that came in at $400 but in my credit card feed it came in as 226.92. It’s not giving me an option to match it so I can resolve the difference for interest. Can you help with this? Thanks in advance
Delete the $400 one And figure out what the real transaction is, or modify $400 one to match the reality. $173 interest in a $400 transaction makes no sense
my client always making record transfer but the amount is different. from paypal to chase. the paypal has a fee. from paypal 600 and the chase will receive it 595. when i reconcile it has a difference. what is the proper way. thank you!
Hi, I am confused whether to record an online transfer from/to both banks linked in QBO as "transfers" since I can also see that in other previous transactions, the old bookkeeper recorded some online transfers as expenses and some are recorded as transfers. Just confused about the inconsistencies in recording it. Need help, please. Thank you
I have a question, i have a card that has a VISA logo on it, but it is actually a revolving Line Of Credit card. How would you set this up? I can use the card as a VISA, but the interest starts immediately when you use it. I set it up as a credit card and when i went to reconcile, there was an amount that was suppose to be interest but it was not showing.
@@HectorGarciaCPA so when credit A is the one recording the expense and credit card B for payment, can I transfer the expense from Credit card A to credit card B so that it would offset the payments made in Credit Card B?
Hi, i just have a quick question, my client have transferred money from personal account( not linked in QB) to his business account to pay the credit bill. In which account should i categories this?
What if you are paying a credit card, however you used that card to pay for an expense. Would you list the transaction as the expense you are wanting to pay instead of showing it as a CC payment? Otherwise, how would you track the expense?
@@HectorGarciaCPA Credit Card payment option creates duplicate transaction. I saw your previous video there you paid credit cards using Transfer. I am using Transfer to pay credit card and it never credited duplicate entry and I like it.
What happens if QBO does not show "Paired" but there "is" a match but since you didn't see the "pairing" or "match" option you manually change it to a transfer? Does that cause a duplicate transfer entry?
I'm struggling to find the answer to how I should correct the many 'Transfers' my client repeatedly used to make credit card payments in years past. Any suggestions?
@@HectorGarciaCPA are the unneccessary or then they need to be added back in and correctly recorded as "credit card payment?" I'm having a similar issue.
@@betsysmith8124 its necessary to have one transaction for the ccpayment/transfer, if there are any duplicates beyond the reconciliation, you can delete those
@@HectorGarciaCPAi have this credit card that records expense and the other credit to pay off that expense. Can I use the transfer for this type of transaction?
Hello po. I'm asking for a short way to caterorize transfers to other bank. If Spent....just record transfer, then add. If Received...what will i click?...... I followed the videos but it resulted to other way.
Soo.. who is confusing that? The word “Expense” in QuickBooks doesn’t mean the accounting term, it means the fact that money is coming out of a bank account. Hence paying the credit card is an “Expense” from the bank’s perspective. But accountingwise is a journal entry that transfers value accross balance sheet accounts
@@mike2959 if you enjoy arguing, there are many channels that love to argue. Arguing accounting terms with a CPA (Certified Public Accountant) seems counterproductive. Just my opinion though, do as you wish. 🫡
Hector, as always thank you so much for this! I feel like I've explained this so many times -- but you have done such a great job here and covered it so completely that I'll be sharing this from now on as needed. You're the BEST! I really don't know what we would do without you around -- I feel like you are our voice.
Cool
You are super amazing Hector!
I'm new to Quickbooks and was struggling to understand how to categorized an online transfer of one credit card to another credit, but now I think I finally understand. I plan to continue watching all of your video's. I sure wish you had a class that offered hands-on training because I would pay just about anything to attend your class. For now, I feel lucky and blessed to have found your video. Thanks again, Hector
Awesome
This is exactly the information I have been searching for. Clear and concise for dummies :). New to QB and lots of catch up to do (while trying to learn as I have been "handed the baton" ) I will be signing up for whatever courses you have available. Thank you, thank you, thank you. You are an incredible teacher.
Thanks a lot. So far most of my QBO content is free on TH-cam. I do have advanced courses for Accountants
Haha! As soon as I saw the cover of this YT video, I started laughing hysterically. Yes! This is THE number 1 thing I tell my clients not to use. It creates so much havoc. Thanks for the video! I will be sharing with the clients that need a reminder.
Great
Thank you for always uploading new videos every day. Could you also make a video on how you usually review the Balance Sheet and Profit & Loss? It would be great to hear some useful tips on this topic.
Thanks.. good Idea. I thought a had a video on that, let me Check
Yes! I noticed that right away when I helped a friend with her Quickbooks online. I was still new to QBO and found it interesting how any of her 'E transfers' that came in were matched as a transfer by default. I showed her how to click 'categorize', and she could then record her etransfers as her deposit which was actually income. But wow- the uncategorized asset was so strange! Glad it got changed.
Its was the worst thing ever. Glad they changed it too!
Hector - I love your channel, and I am so glad you covered this topic. Thank you!
:)
Also, (sorry Hector. I do love your videos…)
I do use transfer for my real estate loans as well.
1st of the month let’s say I get $4200 debit come up in my bank feed on my checking account. I split and record the transaction 3 ways. 3 accounts.
Principal applies to loan listed in liabilities
Interest account
Escrow account
Then hit the transfer button.
You cant have splits in transfers though.
On my business loan that’s correct.
When my mortgage payment hits my bank feed in checking I can spilt it there.
At 18:07 you made a VERY important comment that you need to make a video about. You said "unfortunately, it doesn't delete the transfer..." I have been trying to understand how the "Undo" action works in the "Categorized" list of transactions in the bank feed. I have incorrectly accepted some credit card transactions, so I have used the Undo action, but I feel like there may be residual entries that are not also removed and that continue to impact my books. You might consider a video that explores the use of the Undo action and the other steps a user might need to take to address an incorrectly accepted transaction.
After you reconcile… then you can delete all the transactions that are left over
Thank you for this video Mr. Garcia! I have a tricky situation, which is categorizing a balance transfer from one business credit card to another. What is the best way to handle this situation?
Its a transfer transaction
Hector!! You're the best explaining, thank you so much for sharing your experience
@@marakomukai3668 i dont. All my content is free on TH-cam
Great information! My issue is there’s a transfer in my QB that is not on my bank statement or credit card statement. I would love your advice on what to do about that 🤔
@@thompsonwife1 generally… if its not in the bank statements, then delete it
Hey Hector! Love your videos. You explain everything the same way that I do, and love and hate the same features... I feel like we might be the same person. :)
Haha QBsoulmates
Thank you for the great content. Couple questions: 1- When I record a transfer from X bank to Y bank, it is doubling the transfer and does not consider that there are bank fees paid, and keeps original amount (i.e. 19000 from X is recorded as 19000 in Y) although the bank statement shows that it was deposited as 18500
2- How to reflect the bank charges and fees on the transactions/transfer/credit card payments that we make
It can be a “transfer transaction” needs to be a Deposit or expense. And you can adjust the fee with a negative line items
Hector- thank you for these videos. i am new to bookkeeping and always turn to your channel when I have QBO questions.
QUICK QUESTION- What do you suggest for Lines of Credit? My boss has a bus checking account and bus line of credit from the same bank. the previous bookkeepers recorded money moving btw these accounts as "transfers." is this ok? He also has another line of credit from a different bank that gets recorded as expenses. What would you suggest as best practices for these transactions?
Payment into the line of credit or accessing funda from the line of credit can be transfers yeah
Mr. Garcia, thanks very much! Awesome indeed 🙏🏾
My pleasure!
What headset did you use? It was crisp and clear audio.
Its not a headset is a Rodeo Podmic USB
Very good explanation. You're the best 😀
:)
Hi Hector! Love your videos!
Do you have any video that explains in details how to pay a credit card that has other credit cards as sub-accounts?
I have seen some people that say "apply to payment to he main one" and others tell you to "split the payment between the subaccounts" and I am not really sure what is the correct way. Could you please advise? Your help is always appreciated!
No. But you just pay the parent account, there is no need to do any “splitting”
@@HectorGarciaCPA but then the sub accounts will be left with a balance?
Also, transfer can be useful when the 2 accounts are in different currency. For example, Amazon Canada account deposits money to my US bank account. Normal categorize function doesn't support currency conversion.
yeap.. great point!!
Great explanation. I am sharing with my team. Thank you!
Awesome, thank you!
Thank you for the transfers on the bank feeds. It is sooooo confusing. I need to practice on transfers. Is it best to click on "Record as transfer" then click "Add" or should I just click on "Record as transfer" then click "Record as transfer" on the top line? I just don't want to duplicate it.
I just never use a transfer
I wish there were an additional function for the record as credit card payment, especially when dealing with multiple subaccounts, instead of excluding the transfer payment and creating an expense to properly record the payment.
Yeah, thats never going to exist
I am new to Quick Books, if I have made a mistake and entered an expense as a transfer that has already been reconciled by my bank. How do I delete the transaction and re enter the correct transaction and mark the new corrected transaction as reconciled. You did an amazing job describing the trap of transfers. I think I know how to avoid my mistake in the future but I need to correct my mistake, thanks in advance!
If you delete it.. you need to recreate it as an expense and then reconcile the bank again
Thank you so much for your reply!
What about owners draw? Should the transaction be categorized or marked as a transfer?
@@jlbarron3 i prefer to avoid transfers at all costs
Hello Hector. Thank you so much for the video.
What if intercompany A pays intercompany B’s credit card bill? How to categorize it? I’m a little bit confused because I’ve seen that it was categorized as transfer- transfer to due to/from B.
Or expense it in company A side and make a journal entry in company B side?
Please let me know which way is correct or any correct way.
It goes in the Due To/From account. Could be a “Transfer” or could be an “expense” transaction… as long as its going to the right balance sheet account..
Hi Hector. I very much appreciate all your videos.
I have a question, why you do not like to use transfers between a Business account and a Personal Account?
I have a client SMLLC that does draws all the time and I use transfers to record the transaction. Am I doing it wrong?
I am ok with that transaction.. the problem is not always is used correctly
@@HectorGarciaCPA 👍
Hi Hector! Quick question is it possible to create a savings account as a bank register that is actually not a real bank account and be able to transfer money into for a future business trip? And if not how would that be processed, saved and/or recorded?
Yeah, but will trip you ip when reconciling your real bank accounts
Would love a video on using estimates - and why does QB not have a feature that allows the customer to accept or reject an estimate when you've emailed it to them, or am I just missing it? Best I can tell, you need a third party add-on to do that, is that correct?
Correct
Thank you Hector. What about if you make a credit card PAYMENT from a checking account. Once both transactions are showing on the feed but you need to split the card payment into principal and interest then the bank transaction is no longer showing as a pair or match . Am I supposed to "add" that transaction into the checking split up as in the credit card feed? I dont want to duplicate the entry. Thank you
You dont split it.. make a single payment to the credit card and thats it. You can enter the interest expense inside the credit card
Thanks my mentor please upload videos as soon as possible so that we can use our weekends learning new thing's
:)
Great video Hector. I am a fan, I watched a lot of your videos, great material. I have a question which i asked in the Quickbooks community but I keep getting the same answer that I found by searching. Here is my situation: I am using QBO plus, I am a sole propietor, I need to track actual my vehicle expense, things like fuel, maintenance etc, when I first started my company I used the actual expense therefore I must continue using the actual expense, anyhow, there is a section in QBO under taxes/income taxes where it gives you a overview of what your tax situation will be for the year, it works for all of the categories, except for the actual vehicle expense. I set up the vehicle profile, in the chart of accounts, I set the vehicle expense for the tax forms to be categorize to "Auto", so I at loss here because i can't seem to figure out how to get this part to work for the actual expense. I am using this function for two other companies tracking the mielage expense and it works for that but not the actual. When i do a search for it in the QBO community I get instructions on how to separate business from personal expense when categorizing using QBO self employee. If you know the asnwer to this question it would be greatly appreciated.
QuickBooks doesn’t work in that matter
@@HectorGarciaCPA, but it works if I use the mileage expense because it does work on the other 2 QBO company accounts that i have for my other two businesses.
Do you have videos if the transfers is to other currency? like USD acct to HKD Acct? thanks u
You might need to do a journal entry to fix.
Well Done Hector thx a lot for useful information
;)
If I have a transferbetween accounts, and QuickBooks suggests:" Categorize" into the correct account and they are both amounts linked- will that have the same impact as choosing "record as transfer" I see on the first column it says expense - instead of Transfer but it does not actually create an expense in the P&L, should I leave it as is or undo it and switch it to transfer?
Same impact
Hi, Hector, how about trafer between locations, or, businesses purchase inventory in bulk and transfer to different location from ware house, guide me please
Essa
Thats not a thing in QuickBooks Online
What's the proper QBO way to transfer funds between 2 companies with the same owner?
Its a Journal Entry to the Inter company Loan between the two entities, or run it via the Distribution/Draw/Equity account
@@HectorGarciaCPA ...thank you so much for the reply! PLUS, THANK YOU for all the informative video's that you post!!!! Is it a double JE? DR: Cash Acct of receiving entity & CR Cash Acct of the paying entity PLUS DR: Inter Company Loan Acct of receiving entity & CR Inter Company Loan Acct of the paying entity. Then at year end zero out ALL Inter Company Loan accounts by offsetting (DR or CR) the Equity account? Just curious...Could you possibly do a short video on this?
@@NoteBuyersClub single journal entry, but on both companies
@@HectorGarciaCPA ...With your clients, how do you typically handle this single JE transfer transaction? Do you handle it as an inter-company loan or run it through an equity acct? I assume going through the equity acct would eliminate the need for a year-end clearing JE. I searched TH-cam to find other QBO accountants & how they handle this transaction. Only one had something & it was 8 years old.
Hola Héctor tienes videos en español??
Algunos, pero muy basicos
Hey Hector, I am stuck on a transaction. There is a payment that is in my bank feeds that came in at $400 but in my credit card feed it came in as 226.92. It’s not giving me an option to match it so I can resolve the difference for interest. Can you help with this? Thanks in advance
Delete the $400 one And figure out what the real transaction is, or modify $400 one to match the reality.
$173 interest in a $400 transaction makes no sense
my client always making record transfer but the amount is different. from paypal to chase. the paypal has a fee. from paypal 600 and the chase will receive it 595. when i reconcile it has a difference. what is the proper way. thank you!
You have to register the fee separately
Not click the record transfer?
@@mariasofiajuquiana3680 transfer can work, you just need to record the fee separately
Hii sir how many lectures will be in this quickbooks online 2024 tutorial playlist and when will the last video of this series will be uploaded??
Probbaly about 30-40 but ill never stop uploading, there are always new things
Hi, I am confused whether to record an online transfer from/to both banks linked in QBO as "transfers" since I can also see that in other previous transactions, the old bookkeeper recorded some online transfers as expenses and some are recorded as transfers. Just confused about the inconsistencies in recording it. Need help, please. Thank you
If you are not an accountant, never book transfers. Just do Expenses or Deposits please
thank you @@HectorGarciaCPA ❤❤❤
@@KathMontenegro :)
I have a question, i have a card that has a VISA logo on it, but it is actually a revolving Line Of Credit card. How would you set this up? I can use the card as a VISA, but the interest starts immediately when you use it. I set it up as a credit card and when i went to reconcile, there was an amount that was suppose to be interest but it was not showing.
I would use it as a credit card
Is it ok to transfer liability of one credit card to another credit card?
Yes
@@HectorGarciaCPA so when credit A is the one recording the expense and credit card B for payment, can I transfer the expense from Credit card A to credit card B so that it would offset the payments made in Credit Card B?
Hi, i just have a quick question, my client have transferred money from personal account( not linked in QB) to his business account to pay the credit bill. In which account should i categories this?
Owners contributions / Equity
What if a payment is made from savings bank to a credit card. And in QB it will recommend a RECORD TRANSFER. Then i can just click it if it match ?
It wont recommend transfers
What if you are paying a credit card, however you used that card to pay for an expense. Would you list the transaction as the expense you are wanting to pay instead of showing it as a CC payment? Otherwise, how would you track the expense?
Cc Payment is the ideal transaction type of that.
@@HectorGarciaCPA Credit Card payment option creates duplicate transaction. I saw your previous video there you paid credit cards using Transfer. I am using Transfer to pay credit card and it never credited duplicate entry and I like it.
It would be in your best interest to use a business credit card and have that connected to Quickbooks to track the expenses.
What happens if QBO does not show "Paired" but there "is" a match but since you didn't see the "pairing" or "match" option you manually change it to a transfer? Does that cause a duplicate transfer entry?
It could. But it should always detect the pairings
I have noticed the pairing doesn't always work if the receiving transfer doesn't post on exactly the same day.
What's the difference between transfer and card payment?
Accounting wise, no different.
Just mechanically its easier for some users to understand what they are doing
gotit. thanks
Thank you 👍🏽👍🏽
:)
Ow. So thats my mistake. I TRANSFER a supposed to be payment (bank) to a credit card when its supposed to be categorized?
Transfer is OK for this transaction type
Do you have experience working with us Zen business? If yes, can you give me a best advice
Don’t know “US ZEN BUSINESS” is…
@@HectorGarciaCPA do I need another software for invoicing?
I'm struggling to find the answer to how I should correct the many 'Transfers' my client repeatedly used to make credit card payments in years past. Any suggestions?
Delete them all
@@HectorGarciaCPA are the unneccessary or then they need to be added back in and correctly recorded as "credit card payment?" I'm having a similar issue.
@@betsysmith8124 its necessary to have one transaction for the ccpayment/transfer, if there are any duplicates beyond the reconciliation, you can delete those
Why does my Qbo doesnt have record as credit card payment option?
No idea.
@@HectorGarciaCPAi have this credit card that records expense and the other credit to pay off that expense. Can I use the transfer for this type of transaction?
Great news!
Indeed
Actually my only problem is on transfers. please help me. thanks,,
I dont have any more videos on this
Hello po. I'm asking for a short way to caterorize transfers to other bank.
If Spent....just record transfer, then add.
If Received...what will i click?......
I followed the videos but it resulted to other way.
Gracias, pero lo puede hacer en español.
No estan en los planes
@@HectorGarciaCPA Das cursos en Español?
O algunas asesorías? Estoy aprendiendo de manera autodidacta, pero tengo muchas dudas.
@@marhernandez5992 para hacer una cita con un consultor de mi firma: calendly.com/qbkaccounting-level2
Promo`SM
?
Gosh. I’m sorry. But please stop confusing credit card payments with the word expense. Payments are not “expenses”.
Soo.. who is confusing that?
The word “Expense” in QuickBooks doesn’t mean the accounting term, it means the fact that money is coming out of a bank account.
Hence paying the credit card is an “Expense” from the bank’s perspective. But accountingwise is a journal entry that transfers value accross balance sheet accounts
@@HectorGarciaCPA I’m not confused. A credit card payment isn’t an expense.
@@mike2959 you are not confused. Correct. But that was not my question
@@mike2959 if you enjoy arguing, there are many channels that love to argue. Arguing accounting terms with a CPA (Certified Public Accountant) seems counterproductive. Just my opinion though, do as you wish. 🫡