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Hi Claudia. Thank God I found you and your videos. The Payment to deposit account of my client is ballooning. I have both Deposit and Payment with the same amount. Basically referring to same transaction. The QBO Care told me to edit the Sales Receipt or Payment in the Register and change the account where it should be deposited. So I changed it from Payment to Deposit Accounts to the Bank Account of my client, did I do it right?

Hi Claudia. Thank God I found this video of yours. The Payment to deposit account of my client is ballooning. I have both Deposit and Payment with the same amount. Basically referring to same transaction. The QBO Care told me to edit the Sales Receipt or Payment in the Register and change the account where it should be deposited. So I changed it from Payment to Deposit Accounts to the Bank Account of my client, did I do it right? I'm going insane with this.

Very Good

Hi, what to do when the deposit from square app transactions are cash sales?

Hi Claudia, what if the balance sheet has a negative undeposited fund balance? How do you clean negative UF? Thanks!

This client has more than 8 credit cards and 2 bank accounts

Also how about also he create an invoice in the old account for a customer and the client paid it then he asked for a refund and my client refunded him. The reason there two accounts... the old one was really messed up for years and no proper reconciling and my client add bank feeds for his personal a d business credit cards in old QBO. I created the new account and start from scratch in this new account. My client still use the old one and create invoices on it because in the new one QB payments consider him a new client and charge him a big fees.

I have a client has two QBO accounts one is old and one is new..he create the invoice and receive the money on the old account. But we work snice this year in the new account. So in bank feeds there is money received with no invoice created and of course there is qbo payment fees. To reconcile this transaction. What shall I do? Do I need to create the invoice by whole amount but what about the fees?

Hi, I have a question. So, I added in Honey books a tax rate. Is that the sales tax? If so, how do I see all the sales tax I will have by the end of the year. I do not charge my clients sales tax in their invoices so i'm assuming i will have to pay that back. Where do I see the sales tax in QuickBooks because as of right now it says my sales tax is 0$. Also, in regard to sales tax how does it work if I travel and get paid in another State/Country where the sales tax would be different. My LLC is in Florida, so I don't know if it makes a difference. I'm a photographer, and I travel a lot. Thank you!

what to do when it still not showing in the match transactions?

I love how you explain. I was so confused how to resolve that problem with my client deposit , many did not match, Now everything is fine. Thank you. God bless you

Working in Xtrachef & QBO- are there any experts out there with experience mapping COGS & Sales in Xtrachef to QBO? Please help if at all possible, I am willing to pay an expert to help with this. I am new to restaurant accounting and need to get my P&L correct. Please help! :)

Thank you for the valuable content you create. I was wondering if you could consider making a video tutorial on eCommerce bookkeeping. It would be incredibly helpful to understand the nuances and best practices in this area.

this video is everything! Thank you!!!!

Hello, I am confused here. Why do we enter the gross sales when that has the tips collected as well? the actual sales are the gross sales minus the tips which will then give us an actual picture of our daily/monthly revenues. To match it with Toast we should then take the gross sales minus the tips and that is what our revenues should be. can you please clarify?

Great videos! Question. I have a restaurant and use Toast integration. Toast creates a journal entry every day. All of the cash sales go into the cash account. When we deposit it, I create a transfer from Cash to Checking and I'm able to match that amount from the bank feed. One day we got a check from a local work program for on the job training reimbursement for two employees. We deposited the check and cash at the same time so the bank combined them. I have the check amount categorized as other income. Now I cannot match my deposit from the bank feed! When I click match I see the cash transfer but not the other one. What am I doing wrong?

❤ greatly helps..I'm currently a Virtual Bookkeeper. I need to be more familiar with Honeybook. I'm from the Philippines ❤

Would be helpful to see you actually set up the integration and all the steps involved to match the transactions

To reconcile the Square bank do you use the Square transaction report ? Does the app automatically map to items in your products and services? Thanks for the video it is very helpful.

This was so helpful! Thank you-

The account I'm working on is negating the sales by showing the sales income going in and out leaving only the fee. This doesn't match the bank record which only shows the net income (sales income minus the fee). I started by deleting the extra entry pulling out the net income and changing the incoming to the gross sales. Is this the best way?

Hi Claudia, thank you for this helpful video! I have followed your steps and I can see that the fixed asset and depreciation are showing correctly on the balance sheet report. I thought that this depreciation expense would automatically show on my P&L but it doesn't. Would you be able to advise me on how to make it show in the P&L please? Any guidance would be hugely appreciated :)

Thank you for the video! Wondering if I am missing something because I go to the specific client and I am wanting to see how much is remaining on their account. I have created the invoice, received the payment and put in the sales receipt and their balance in still zero. They should have some of their retainer remaining. Can you let me know what I am doing wrong. Thank you!

Is an Expendable a Cost of Good or Expense?

The video provides clear steps for handling mismatched payments in QuickBooks Online. For efficient invoice management alongside your accounting, consider tools like InvoiceBerry for a seamless integration.

Great video. Quick question: many of my products and services are over 100 characters long. It would take me a long time to shorten all of them in Square. Is there a way to get around this? Thanks so much

As always, it was helpful 🙏 my Sis😊

Thank you madam, I am from Bangladesh, I like your Video, I want to be an expert on QB like you, please give me some tips and tricks.

@The Bookkeeping Xperts .... I buy QBO for my bookkeeping client and I pass the entire discount to him. I created the expense and I checked the "Billable" field and assigned it to the client. I then created the invoice and added that expense to the invoice. I don't want this to increase my income, since I am not marking it up. Are the following steps necessary? Intuit customer service said that I need to create 2 new accounts in the Chart of Accounts (Billable Expense Income & Billable Expense). They also said that I needed to add a Product and Service and put a check mark next to "I sell this product/service to my customers." and under "Income Account" choose "Billable Expense Income". They also said that I should put a check mark next to the "I purchase this product/service from a vendor." and then choose "Billable Expense". Is that overkill or is it necessary to do all of those steps that they recommended?

It is the first time we are using QBO and when connected to the bank , the bank feed only started from May 2024 and now it is automatically uploading new transactions. What is the best way to get the transactions from Jan 1 2023 to May 2024. Can we download from the bank as CSV or excel and upload to QBO or can we delete all transactions from Mat and do it over. Thank You.

¡Gracias! POR SU APOLLO !THANKS FOR YOU SUPPORT !!😄😄

Hey Claudia - Your videos are very helpful. I have a transaction in my bank feed that doesn't match the payment that was transported from by interfaced program. The bank shorted the amount by a small amount of change then sent a credit for the change later. QBO will not allow me to match to the payment. I created a deposit for the two transactions but this did not clear the items from my bank feed. Any suggestions?

How can I import the service library into Quickbooks? My client is using Services in Square (due to using the Square Appointments tool), not Items, and I did not see the same option in Square to pull the list of services from Square into Quickbooks.

Thanks for your video it was helpful.

Brilliant thank you

What to do if account and date was incorrect and I saved? Can I change that now?

Hello Claudia! is it possible we can have a quick meeting where i can show you my QBo file. I have A/R entries (Transactions) uncleared in Bank Rec. however, those are already matched in QBs directly with bank feed. previous months are already reconciled. can you help me on how to rectify those. i cannot even delete them as they are recorded correctly in QBs. Thank you,

May I know how are you tracking the toast fee in QuickBooks? or are you ignoring the fee and taking only the net revenue from Toast

When you received the money as income, why do you need to send the money to undeposited funds? Couldn't you send the money directly to the personal funds account instead?

Thank you. Very helpful.

Can you actually do a reconciliation? can't figure mine out for the life of me.

hi, how to fix if the payment if the payment was incorrectly reconciled and not applied to the invoice, but it was already marked as 'R'? can I click undo the transaction?

What happens when someone pays their account ahead and wants to carry the credit until next month's invoice? I have that a lot. Also, I collected payments one fiscal year and waited until next fiscal year (education institution) and to do invoicing to be in correct school year. I have a -$3,000+ balance in uncategorized account. Totally mixed up. Didn't seem to be this way in Desktop Quickbooks.

Thanks for sharing

Even the aggregate doesn't work well. QBO's import ignores square variations, gets sales tax incorrect for some reason, ignores Classes set up by product in QBO, doesn't properly fill in location. Square fees are also problematic. Sometimes QBO handles them correctly, but often if there is any issue with the imported square sales receipt and you need to fix it, then you can't match to the bank deposit. Also, if you get the Square sales receipt as a summary and the sales were paid using multiple deposits (say some square and some recorded as cash transactions when a customer zelles you) QBO cannot match one sales receipt to multiple deposits. You can only match one deposit to multiple receipts. If you just put all income into income as you do in the video you lose the ability to do a profit and loss statement that shows categories of income. In short, QBO's handling of Square is insane. I suspect that I can use the method you outline for sales receipts that don't work using the automation, but enter by category instead of lumping every sale into income.

Thank you for this information! Very helpful

How do I clear outdated deferred revenue accounts without affecting my income balances?

How do I record this.. I did cash withdrawal from the bank and used it to pay a subcontractor?

Hello - I wonder what would be the JE if you want to get deferred revenue off of the balance sheet. I did not receive the money and I did not provide a service. Do I debit the deferred revenue and credit a loss?? Thank you

Claudia, you are the only one helping us to make sense of Square and QBO...thank you! This video was extremely helpful, but how does one match a lot of small Square transactions to just a handful of deposits? I have about 30 small cash transactions and only 5 deposits. If I use the date span inbetween deposits as a guide, the amounts never match. Do I get as close as possible, and adjust for the rest? If so, do I code the difference back to Cash on Hand? Again, your expertise is greatly appreciated!