Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [quickbooks]

For questions relating to the use of the desktop version of QuickBooks, an accounting software package developed and marketed by Intuit. For the online version, use tag quickbooks-online.

For questions relating to the use of the desktop version of QuickBooks. For the online version, use tag quickbooks-online.

QuickBooks is an accounting software package developed and marketed by Intuit. QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud based versions that accept business payments, manage and pay bills, and payroll functions.

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Why use accounting software like Quickbooks instead of Excel spreadsheets?

Some friends and I are starting a small landscaping cooperative, and are thinking about how we will manage accounting. Places we've worked in the past have used Excel spreadsheets to manage all of their finances. However, a lot of the stuff I've…
J. Taylor
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How to record business income tax paid, in QuickBooks?

This is not a personal finance question, but I don't see a StackExchange site dedicated for business finance/accounting. So I'm asking it here. I run a small business (LLC) and using QuickBooks for accounting. I filed the federal income tax return…
Shankar
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Coding Expenses to Vendors Without Entering a Bill in GnuCash?

In QuickBooks, when using the "Batch Transactions" window to enter transactions, I can allocate the transaction to a vendor without creating a bill. I.e., when I charge an "Office Expense" for copy paper from "Office Depot" on my debit card…
HTMLHelpMe
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As a small business owner should I have a separate account for payroll?

Note: I'm currently using cash basis accounting. Just recently I've started using QuickBooks Online to keep track of my profit and loss as well as pay my employees. The problem I'm facing is that even though my business is cash basis, when I run…
Paul Warnick
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Quickbook Balance Sheet showing strange numbers (to me at least)

I have been using quickbooks for some time (less than a year) and today when I was looking at my balance sheet I noticed something that seems really strange to me. My Total Assets number is $300,000. My total liabilities are $20,000. I then have the…
Icode4food
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Returning invoicable time to 'outstanding time' pool

I use Quickbooks Professional 2009. When I create a customer invoice for a period with ‘outstanding time’ Quickbooks asks me to include it by checking off boxes; fine that works. But if I need to re-do that invoice and delete the first one…
rfreytag
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How to record expense sheet as journal entries in Quickbooks Online?

Let's say I own a business and I make 3 business-related purchases on my personal credit card in August. Given the following example expense report: 08/01/2011 - $20 - Web Hosting 08/05/2011 - $130 - Memory Cards for Camera 08/20/2011 - $50 -…
Brian David Berman
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How important is reconciling accounts for a small LLC (Quickbooks)?

We are in our first year of starting a small LLC. We are using Quickbooks Online and things are going well. The only exception is that, due to our lines of credit and bank accounts being personal (shared with business), we are having trouble…
Brian David Berman
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Recording of personal property contribution to S-Corp in QuickBooks

I began an S-Corp, and I contributed a truck, computers, and furniture. How do I record these items in QuickBooks? What accounts do I use?
Hector Acosta
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Quickbooks 2013 and higher no longer import Capital One

On Quickbooks 2013 Capital One now gives the message "Unsupported browser" when trying to download Capital One transactions. However, I'm running IE 11 on Windows Server 2012. Users have reported that this problem persists on all newer version of…
drsquidop
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How do you account for a cash payment by a customer in which some is used for payment to a vendor?

I am using Quickbooks Pro 2011. I received a $750 cash payment from a customer, then used $150 of it to pay a vendor's invoice, creating a bank deposit of $600. I can't figure out how to credit the customer, show the payment to the vendor and end…
user673
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How to reconcile a credit card that has an ongoing billing dispute?

I currently have an ongoing billing dispute/inquiry on my American Express Business Charge Card that is causing me problems when reconciling this account in Quickbooks. Since my statement balance doesn't reflect the dollar amount in dispute, how…
Brian David Berman
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Paying myself a distribution caused a negative Owner's Equity account balance? Is this normal?

I just paid out my first distribution from my LLC. I wrote myself a check for $200 (example), using my business account and selected Owner's Equity. When I look at my summary of accounts, I notice that my bank account balance decreased by $200,…
Brian David Berman
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How to account for money earned and spent prior to establishing business bank accounts?

In terms of QuickBooks... How does a newly started business, an LLC in my case, account for payments received and money spent PRIOR to having organized business bank accounts in place? Is there a way to draw a line in the sand and say on 8/18/2011…
Brian David Berman
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How do I set up Quickbooks for a small property rental company that holds its properties in separate LLC's?

My company is set up so that it has a Property Management LLC (PM), Property Holdings LLC (PH) and several real estate assets, each of which is held by the PH but is also its own LLC (props). It was explained to me that this structure limits…
Harrison Bergeron
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