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Accounting with QuickBooks
United States
Приєднався 8 жов 2023
QuickBooks Cleanup Expert sharing tips on QuickBooks online and Desktop. On this channel, you will get clear, To the point videos for accounting in QuickBooks.
QuickBooks Cleanup expert I Chief Problem Solver I Fractional Controller I We cleanup QuickBooks files that others are scared of touching!!
Services we provide...
QuickBooks Healthcheck
QuickBooks Cleanup
Bookkeeping
Controller services
Business Processes Streamlining.
Get 30% off of QB Online...
quickbooks.intuit.com/partners/irp/?cid=irp-7289
To schedule a free initial consultation to discuss your QuickBooks issues, please use the link below..
calendly.com/ploomba/30-minute-discovery-call-youtube
QuickBooks Cleanup expert I Chief Problem Solver I Fractional Controller I We cleanup QuickBooks files that others are scared of touching!!
Services we provide...
QuickBooks Healthcheck
QuickBooks Cleanup
Bookkeeping
Controller services
Business Processes Streamlining.
Get 30% off of QB Online...
quickbooks.intuit.com/partners/irp/?cid=irp-7289
To schedule a free initial consultation to discuss your QuickBooks issues, please use the link below..
calendly.com/ploomba/30-minute-discovery-call-youtube
Download Transactions from Chase and Upload them into QuickBooks Online (QBO) 2024
Learn how to download transactions from Chase and easily upload them into QuickBooks Online (QBO) in 2024. Simplify your accounting process with this step-by-step tutorial! This is for people who do not want to sync their bank/cc account to QBO but still want to enjoy Bank Feeds functionality and/or who are not able to connect the accounts with QBO.
Timestamps:
0:00 - Introduction
0:11 - Download transactions from Chase
0:56 - Tip on what dates to pick
1:25 - Upload transactions into QuickBooks Online
2:04 - Conclusion
Comment for any video suggestions.
Email me for QB-related questions - Info@placcountingsolutions.com
Free QuickBooks Online Trial + 30% off quickbooks.intuit.com/partners/irp/?cid=irp-7289.
To schedule a free discovery call to see if we can help you with your accounting needs, please use this link
calendly.com/ploomba/30-minute-discovery-call-youtube
I Would love to connect with you..
www.linkedin.com/in/poojaloomba/
This video is for informational purposes only. This video is not intended to provide financial advice.
#accounting #bookkeeping #bookkeepers #quickbooks #quickbooksonline #quickbookstraining #accountant #quickbookstutorial #placcountingsolutions #Quickbooks for Beginners #quickbooksbookkeeping #financialliteracy
Keywords: QuickBooks Online, QuickBooks Tutorials, QuickBooks for Beginners, QuickBooks, Learn QuickBooks, QuickBooks for Beginners
Timestamps:
0:00 - Introduction
0:11 - Download transactions from Chase
0:56 - Tip on what dates to pick
1:25 - Upload transactions into QuickBooks Online
2:04 - Conclusion
Comment for any video suggestions.
Email me for QB-related questions - Info@placcountingsolutions.com
Free QuickBooks Online Trial + 30% off quickbooks.intuit.com/partners/irp/?cid=irp-7289.
To schedule a free discovery call to see if we can help you with your accounting needs, please use this link
calendly.com/ploomba/30-minute-discovery-call-youtube
I Would love to connect with you..
www.linkedin.com/in/poojaloomba/
This video is for informational purposes only. This video is not intended to provide financial advice.
#accounting #bookkeeping #bookkeepers #quickbooks #quickbooksonline #quickbookstraining #accountant #quickbookstutorial #placcountingsolutions #Quickbooks for Beginners #quickbooksbookkeeping #financialliteracy
Keywords: QuickBooks Online, QuickBooks Tutorials, QuickBooks for Beginners, QuickBooks, Learn QuickBooks, QuickBooks for Beginners
Переглядів: 10
Відео
Download Transactions from Amex and Upload into QuickBooks Online (QBO) 2024
Переглядів 1222 години тому
Learn how to download transactions from Amex and easily upload them into QuickBooks Online (QBO) in 2024. Simplify your accounting process with this step-by-step tutorial! This is for people who do not want to sync their bank/cc account to QBO but still want to enjoy Bank Feeds functionality and/or who are not able to connect the accounts with QBO. Timestamps: 0:00 - Introduction 0:10- How to d...
Line of Credit Account Setup and Transactions in QuickBooks Online (QBO) 2024
Переглядів 78День тому
Learn how to set up and record transactions for a line of credit account in QuickBooks Online. This tutorial will guide you through the process step by step for accurate accounting in 2024! Timestamps: 0:00 - Introduction 0:14 - Setting up Line of Credit in QBO 1:34 - Recording Advance from Line of Credit (via Bank Feeds) 2:49 - Recording Interest on Line of Credit 4:18 - Reconciling First mont...
ATM withdrawals and Petty Cash Expenses in QuickBooks Online (QBO) 2024
Переглядів 76День тому
If you ever withdraw money from your account using ATM, then this video is for you! This video is easy to follow and will help you get your finances sorted out quickly and easily! Timestamps: 0:00 - Introduction 0:40 - Explanation of Process of recording ATMWithdrawals 0:52 - Recording the ATM Withdrawals without fee charged 1:07 - Recording the ATM Withdrawals with fee charged 1:31 - Checking ...
How to Use Bank Feeds in QuickBooks Online - 2024
Переглядів 8721 день тому
Learn how to use bank feeds in QuickBooks Online to streamline your accounting process. In this video tutorial, we'll show you all the features/options available to utilize bank feeds for easier financial management in 2024. How to connect bank account with QuickBooks Online - ua-cam.com/video/l5zPt2EsfN0/v-deo.htmlsi=dQhespzplDc21b8S Comment for any video suggestions. Email me for QB-related q...
Law Firm Retainers/Trust Funds - Part 4 (2024) - DOs and DON'Ts of Law Firm Trust Fund Accounting
Переглядів 81Місяць тому
In this video, we'll cover the dos and don'ts of law firm trust fund accounting to help you navigate this crucial aspect of your legal practice. This is Part 4 of a series that will cover all steps involved in actual accounting for retainers in QuickBooks Online. This video explains What to do and what mistakes to avoid when tracking trust funds/retainers in QuickBooks Online for Law Firms. Com...
Law Firm Retainers: Advanced Accounting Techniques (2024)
Переглядів 282 місяці тому
Learn how to properly manage/track or account for law firm retainers or trust funds in this informative video. Understanding the accounting for retainers is crucial for legal professionals to ensure compliance and accuracy in financial reporting. This is Part 3 of a series that will cover all steps involved in actual accounting for retainers in QuickBooks Online. Comment for any video suggestio...
How to Account for Law Firm Retainers/Trust Funds - Part 2 (2024)
Переглядів 433 місяці тому
Learn how to properly account for law firm retainers or trust funds in this informative video. Understanding the accounting for retainers is crucial for legal professionals to ensure compliance and accuracy in financial reporting. This is Part 2 of a series that will cover Accounts and Items setup in QuickBooks for tracking retainers in a law firm. Comment for any video suggestions. Email me fo...
How to Account for Law Firm Retainers/Trust Funds - Part 1 (2024)
Переглядів 1113 місяці тому
Learn how to properly account for law firm retainers or trust funds in this informative video. Understanding the accounting for retainers is crucial for legal professionals to ensure compliance and accuracy in financial reporting. This is Part 1 of a series that will cover all basic aspects of accounting for retainers in a law firm setting. Comment for any video suggestions. Email me for QB-rel...
How to Properly Record/Enter Prepaid Expenses in QB Online (2024)
Переглядів 6244 місяці тому
How to Properly Record/Enter Prepaid Expenses in QB Online (2024)
How to Enter Accrued Expenses in QuickBooks Online (2023)
Переглядів 9084 місяці тому
How to Enter Accrued Expenses in QuickBooks Online (2023)
How to Record or Enter a Bounced Check or Payment in QuickBooks Online
Переглядів 7526 місяців тому
How to Record or Enter a Bounced Check or Payment in QuickBooks Online
How to Manage overpayment by customers - Refund or apply credit to other invoices.
Переглядів 2886 місяців тому
How to Manage overpayment by customers - Refund or apply credit to other invoices.
Why QuickBooks Bank Balance Doesn't Match Profit: Puzzle solved
Переглядів 847 місяців тому
Why QuickBooks Bank Balance Doesn't Match Profit: Puzzle solved
How to Create or Add Custom Fields in QB Online
Переглядів 3347 місяців тому
How to Create or Add Custom Fields in QB Online
Recording Intercompany Transactions Made Easy: A Step-by-Step Tutorial
Переглядів 9218 місяців тому
Recording Intercompany Transactions Made Easy: A Step-by-Step Tutorial
How to Enter Business Expenses paid from Personal Accounts in QBO
Переглядів 2188 місяців тому
How to Enter Business Expenses paid from Personal Accounts in QBO
QuickBooks Online A/P cleanup: Transform Expenses into Bill Payments (2024)
Переглядів 1788 місяців тому
QuickBooks Online A/P cleanup: Transform Expenses into Bill Payments (2024)
How to Enter or Record Bill payments in QuickBooks Online
Переглядів 1538 місяців тому
How to Enter or Record Bill payments in QuickBooks Online
How to Enter or create a vendor bill in QuickBooks Online
Переглядів 1518 місяців тому
How to Enter or create a vendor bill in QuickBooks Online
How to Easily Receive or Record a payment in QuickBooks online
Переглядів 4488 місяців тому
How to Easily Receive or Record a payment in QuickBooks online
How to create or add a credit memo in QuickBooks online
Переглядів 2208 місяців тому
How to create or add a credit memo in QuickBooks online
Create Invoices Like a Pro in QuickBooks Online
Переглядів 1508 місяців тому
Create Invoices Like a Pro in QuickBooks Online
QB Online Secrets: How to Easily Add Customers
Переглядів 1678 місяців тому
QB Online Secrets: How to Easily Add Customers
How to Easily Link/Connect Your Bank Account in QuickBooks Online
Переглядів 3148 місяців тому
How to Easily Link/Connect Your Bank Account in QuickBooks Online
Maximize Your Accounting Workflow: From Purchase Order to Bill in QuickBooks Online
Переглядів 1718 місяців тому
Maximize Your Accounting Workflow: From Purchase Order to Bill in QuickBooks Online
How to Transfer Funds between two accounts in QuickBooks Online I QBO
Переглядів 1,2 тис.8 місяців тому
How to Transfer Funds between two accounts in QuickBooks Online I QBO
How to Enter/Record a Mortgage Payment
Переглядів 1389 місяців тому
How to Enter/Record a Mortgage Payment
How to record a Loan repayment (Principal & Interest) in QuickBooks Online I QBO
Переглядів 1,1 тис.9 місяців тому
How to record a Loan repayment (Principal & Interest) in QuickBooks Online I QBO
How to record a Loan in QuickBooks Online I QBO
Переглядів 5749 місяців тому
How to record a Loan in QuickBooks Online I QBO
Thank you. This was helpful. I saw your other video on adding a purchase of a fixed asset. How do I record the sale of a fixed asset in QBO? I sold prior fixed asset prior to completing the 5 yr. depreciation schedule. Can you please comment here, then create a video later or point me to the video if I overlooked it.
Hello Chris, glad you found it helpful! Here is the answer to your question (yes will make the video on this as well) Sale of Fixed Asset will be recorded as follows... Assuming Fixed Asset Cost was $10K and its been depreciated for $7500 in Books. Additional Dep up to date of sale - $500 (which is to be recorded in books). Now you sell it for $4k. Step 1 - Record the remaining dep of $500 in the books using the method in this video. Step 2 - Dr. Cash/Bank - $4000 Dr. A/D - $8000 Cr. Fixed Asset - Cost - $10000 Cr. Gain/Loss on Sale of F/A - $2000 (Plug) Note - This will be other income type account and this account will be debited in case you had a loss on sale - e.g. if you had sold this asset for $1k Hope this helps! Do subscribe to the channel :)
Well practically explained
Hi pooja ! can you do a video about how to set up an QuickBooks account for Restaurant business. specially about how to record daily sales!! thank you
Thanks very super helpful
Very welcome! Glad you found it helpful :)
Excellent
Thanks!
Very helpful. Thank you for sharing
Welcome! Glad you found it helpful :)
Good information about Atm and petty cash
Thank you! Glad you are finding it useful!
Good work ...keep it up
Thank you! Do subscribe to the channel :)
Thanks for the series. They have been very helpful. Have you found a way to show trust fund balances on the QBO invoices, other than in the message area?
Hi! Glad to hear it was helpful :) Actually this is not possible in QuickBooks. You have to either manually put it on the invoice or attach a report to the invoice that shows trust balance. Do subscribe to the channel if you haven’t yet :)
Hello. Would this be the same procedure for a vehicle lease purchase?
Hi, for Vehicle purchase, yes. For lease - no. In case of leased vehicles - you would enter lease payments as expense as you incur them. Down payment will be expensed as well.
Thank you for the video. It helped a lot. But I have a question. After the journal entry from company B, can I apply this journal entry to open insurance bill in company B's QB? I am currently in the same situation as the video but there is an insurance bill open in company B. Company A paid company B's May insurance and the bill in the company B's QB is open.
Hi! Great question! Thank you for pointing it out. If there is an open bill in Company B, then instead of debiting Insurance expense in JE in Company B, you would debit Accounts Payable and enter vendor name in "Name" field. Once JE has been saved, you will go to the bill that was open in company B (and was paid by Company A), click on mark as paid, offset the bill with JE you just recorded. This will create a Zero transaction and will mark the bill paid in Company B. Hope this answers your question :)
@@placcountingsolutions Great! Thank you so much. I just tried it. So I see the bill is closed with JE but it also generated bill payment(Check) with $0. Is it okay to just leave it? I'm wondering if I did something wrong..
Very welcome :) yes please leave the zero txn as that’s the txn connecting bill and JE. Also do subscribe if you haven’t already! Thank you
@@placcountingsolutions Will do. Thank you so much!! :)
Happy accounting 😊
Thank you!!!!
You're welcome! please subscribe to the channel if you haven’t already :)
@@placcountingsolutions I did subscribe. I watched / clicked on about 5 other videos on how to do a bounced check. I couldn't figure it out until I saw your video. Very well presented and explained. I'm so glad I found your channel. Have a great day.
So glad you found it helpful! Have a great day!
Thanks
Very welcome :) Do subscribe to the channel if you haven’t yet.
Thanks
Glad you found it helpful!
Not clear about the reversal thing. Though you can just debit the accrued liability and credit bank ; your accrued will be zero in jan 2024 start when you pay off liability. Still thanks for explaining. 😊
Hi! Will explain... There are two ways of dealing with accrued expenses. 1. The way I explained that accrued expenses get reversed in following period and then you book the expense normally as if it was never accrued for. 2. The way you mentioned that we keep the accrual as a liability and when payment is made in following period, you would debit that liability account and credit cash. Both are perfectly fine! One benefit with the first one is that you don’t have to memorize or review accrued expense report to see if certain expense has been accrued or not to see which account to debit. Since accrual has been reversed already, you can post the entry normally to an expense account. But again, you can do it your way too :)
I didn't get the end.
Purpose of the journal entry is to recognize the prepaid expenses as actual expenses in the correct period. If insurance expense was paid for 12 months, then we post it to prepaid expense and every month we move 1/12th of it to actual expense account. I mentioned Balance sheet and P&L because Prepaid expenses sit as assets on balance sheet and with the journal entry they are recognized as expense and brought into P&L every month. Hope this helps. If not, please feel free to email me and I can further explain - Info@placcountingsolutions.com
Where was your Depreciation Expense account located? Will that expense account show up in the profit and loss statement?
Depreciation expense is considered an operating expense and yes it shows up on profit and loss statement.
@@placcountingsolutions Thank you.
Very welcome :)
hi (my recurring entry template is not saving (it says, The recurring start date can’t be before today.) please help
Hello, yes, the recurring dates can only be in future. QB won’t make recurring entries in past.
Great video. Thank you for uploading it. However, why do we need to reverse the accrued exp next month? Accrued exp is a liability account and it is a permanent account, right? Once we record the expense in 2023, then in 2024 we just need to pay the cash by debiting Accrued exp and crediting cash. I am confused of this reversal entry. Could you please help me with this?
Thank you! So let me explain :) There are two ways of dealing with accrued expenses. 1. The way I explained that accrued expenses get reversed in following period and then you book the expense normally as if it was never accrued for. 2. The way you mentioned that we keep the accrual as a liability and when payment is made in following period, you would debit that liability account and credit cash. Both are perfectly fine! One benefit with the first one is that you don’t have to memorize or review accrued expense report to see if certain expense has been accrued or not to see which account to debit. Since accrual has been reversed already, you can post the entry normally to an expense account. But again, you can do it your way too :)
@@placcountingsolutions Right. Now I get it. Thank you very much for the explanation.
Very welcome !Do subscribe to my channel if you haven't already :)
@@placcountingsolutions Subscribed.
Keep going
👍
WHAT??!! That was super fast!! Where do you get the Depreciate amount from?
Amounts you would get from depreciation schedule in your tax return OR you would calculate in an excel schedule and then post the entry here with that amount. Calculations are beyond the scope of this video. Hope this helps :)
Thanks for the video!
You're welcome!
❤
The information you provide is great; however, on this video, only 1/2 the screen was showing on the 1st method. Towards the end of the 2 method, the preview of another video blocks the ending.
Thank you for letting me know 🙏 Will upload videos with full screen tomorrow!
Wow! Haven't come across this yet. This is great information! Thank you for sharing!
The screen is zoomed in too much to see the entire screen.
Awesome! My third video in on this subject and you are the only one who included all the steps. Thank you! 🙏
Glad you found this helpful :) feel free to suggest any other content you would like to see on Quickbooks.
Hello, pls help how to record loan when the loan is not deposited to any bank because the loan was made under a direction to pay ..it was an advance for business purposes. How can i record it having no bank affected? Thank you
Hi, do you mind sending an email to Info@placcountingsolutions.com explaining your situation? What was the advance for exactly - buying an asset ?? I need to know little more to be able to provide accurate entry that should be made. Thank you