Hello, my QuickBooks friends!! I know you need some basic accounting knowledge to better understand your QuickBooks software. This playlist is a gift for you!! This is the best example of journal entries on UA-cam and the entire internet. Everybody loves it and I know it will help you. I hope you will “like” after watching and subscribe. -Mark
How about a business dealing with mostly expenses for example, an NGO. How do we record the expense transactions using journal entries, checks and money form bank to petty cash?
Thank you but those are normal transactions and it specifically says in this video the journal entries are for rare and unusual transactions and for accountants to make adjustments. I'm happy to give you the link to the simple course for QuickBooks Online Made Simple for small companies or the main QuickBooks online tutorial and you can see how to record those transactions the normal way so if you would like the link please let me know and I'm happy to give it. Mark
Great to hear! You know I'm really glad I made these videos because there's some people who are very appreciative and they deserve the clear explanation so thank you and I'm very very glad this is helping you and if you need any possible Topic in QuickBooks or accounting please don't be shy to ask and continue to click like after watching each one to help support the free channel for everyone Mark
I'm glad it helped you and I have everything else you need in Quickbooks on the main Channel page, or you can just ask. I hope you will click like after watching each one and subscribe Mark
Mr. Mark, the transaction that might not be entry in the Journal Entries, could also be entry like making a payment on the vendor's window, or like paying a bill, right? 🤔
You should only make a journal entry if there's no other window to enter a particular transaction That's any situation where you need to change only the chart of accounts without adjusting any subsidiary records like receivables or payables Journal entries are limited in how they can change those Mark
Tahank you buit payroll is an "add-on" app that most people don't use. most companies outsource their payroll or simply do not have employees. I may one day make payrol, but not this year. -Mark
Thank you that's a good question In accounting principles, We never decrease the capital account when the owner withdraws. We always keep it in a separate account so we can see clearly the separate amounts of both We need to more easily track the total that went in compared to the total that the owner took out so that it's more clear We also need to display just the amount they took out as a separate number on the financial statements. Because that's an important number Mark
When you open the ledger accounts n the "Transaction Report" it will only show posattive and negative numbers as the amounts. If the account you look at in this report is normally a DEBIT balance, the debits will be the posative numbers and the credits wiill be the negative numbers. And vice versa for accounts that are normally credit. You can open any account in the "tansaction report by opening the trial balance first, and then double clicking on the blance of the account. Please see this video ua-cam.com/video/Wid4eIaAxjU/v-deo.html You can customize the transaction report to show debit credit instead of posatiive or negaive I hope it helps and I hope you will "like" and subscribe -Mark
We use Quickbooks online for our condo association, which is all volunteer. Someone regrettably reconciled an incorrect credit to an owner for a monthly assessment creating a underpayment to one and overpayment to another owner that was carried for years. When I finally tried to fix this, I verified payments were correct but couldn't unreconcile. Was told to do a journal entry. Was able to clear that month but the discrepancy showed up again the next month. Is there any way to fix this?
Hi Great tutorial Thank you. I have a question. Some transactions we have journal but not for all transaction, however balance sheet and income statement is correct. In accounting we learn everything with journal entries. So isn't it contradicting?
Thank you i'm happy to help you I think it's number 25 and number 26. Are the two videos in this playlist that will help you You need owner transactions and journal entries so read the titles carefully and scroll down to 24 or 25 in this playlist and those videos will clear. Things up and i'm here if you have any follow up questions ua-cam.com/play/PLqRhgBZfJuE4_kGX9tTC5qANxUJBhBgww.html
Hello, my QuickBooks friends!! I know you need some basic accounting knowledge to better understand your QuickBooks software. This playlist is a gift for you!!
This is the best example of journal entries on UA-cam and the entire internet. Everybody loves it and I know it will help you.
I hope you will “like” after watching and subscribe.
-Mark
How about a business dealing with mostly expenses for example, an NGO. How do we record the expense transactions using journal entries, checks and money form bank to petty cash?
Thank you but those are normal transactions and it specifically says in this video the journal entries are for rare and unusual transactions and for accountants to make adjustments.
I'm happy to give you the link to the simple course for QuickBooks Online Made Simple for small companies or the main QuickBooks online tutorial and you can see how to record those transactions the normal way so if you would like the link please let me know and I'm happy to give it.
Mark
I really love, enjoy learning with you! explanations are clear and very easy to understand without rushing, I really appreciate you.
Great to hear!
You know I'm really glad I made these videos because there's some people who are very appreciative and they deserve the clear explanation so thank you and I'm very very glad this is helping you and if you need any possible Topic in QuickBooks or accounting please don't be shy to ask and continue to click like after watching each one to help support the free channel for everyone
Mark
Awesome explanations and videos!! I am very grateful to find your videos. I am new to QBDesktop and nobody to train me this is very helpful.
It's my pleasure Teresa,
I thank you for the complement and remember, you can get everything in QUickBooks from the main channel page.
-Mark
Great Teaching, Thank you very much sir..
Oh, Thank You Very Much!!
I hope you will "like" and subscribe
-Mark
Thank you for the video. It was very helpful.
I'm glad it helped you and I have everything else you need in Quickbooks on the main Channel page, or you can just ask.
I hope you will click like after watching each one and subscribe
Mark
very clearly explained...amazing
Thank you so much!! I hope you will "like" and subscribe
-Mark
Mr. Mark, the transaction that might not be entry in the Journal Entries, could also be entry like making a payment on the vendor's window, or like paying a bill, right? 🤔
You should only make a journal entry if there's no other window to enter a particular transaction
That's any situation where you need to change only the chart of accounts without adjusting any subsidiary records like receivables or payables
Journal entries are limited in how they can change those
Mark
Thanks for your valuable video, is available your QuickBooks Desktop Payroll details video, please?
Tahank you buit payroll is an "add-on" app that most people don't use. most companies outsource their payroll or simply do not have employees. I may one day make payrol, but not this year.
-Mark
In your video why did you not use a withdraw account from owner capitol to reflect the $5000 that was removed from the business and taken home
Thank you that's a good question
In accounting principles, We never decrease the capital account when the owner withdraws. We always keep it in a separate account so we can see clearly the separate amounts of both
We need to more easily track the total that went in compared to the total that the owner took out so that it's more clear
We also need to display just the amount they took out as a separate number on the financial statements. Because that's an important number
Mark
Hello! Is this where I would ask my question? Or is there a PM somewhere? Thank you! :)
Yes please ask and I'll do my best to help you don't be shy.
Hi, may I know if I can update Journal Entries after saving it ? thanks
Yes,any quick books online entry can be Edited.
Mark
in quick books if we enter amount in debit column, in respective ledger account in which side it will show(debit/credit)
When you open the ledger accounts n the "Transaction Report" it will only show posattive and negative numbers as the amounts. If the account you look at in this report is normally a DEBIT balance, the debits will be the posative numbers and the credits wiill be the negative numbers. And vice versa for accounts that are normally credit.
You can open any account in the "tansaction report by opening the trial balance first, and then double clicking on the blance of the account.
Please see this video
ua-cam.com/video/Wid4eIaAxjU/v-deo.html
You can customize the transaction report to show debit credit instead of posatiive or negaive
I hope it helps and I hope you will "like" and subscribe
-Mark
We use Quickbooks online for our condo association, which is all volunteer. Someone regrettably reconciled an incorrect credit to an owner for a monthly assessment creating a underpayment to one and overpayment to another owner that was carried for years. When I finally tried to fix this, I verified payments were correct but couldn't unreconcile. Was told to do a journal entry. Was able to clear that month but the discrepancy showed up again the next month. Is there any way to fix this?
No
Hi Great tutorial Thank you. I have a question. Some transactions we have journal but not for all transaction, however balance sheet and income statement is correct. In accounting we learn everything with journal entries. So isn't it contradicting?
Thank you though it is not
Thank you very much. So my understanding is we use the dashboard function in general for couple of things we use journal entries. Is that correct?
Please clarify? what do you need?
S.O.S -- I don’t know how to post owner draw’s manual journal entries!! Can you guide me ?
Thank you i'm happy to help you
I think it's number 25 and number 26. Are the two videos in this playlist that will help you
You need owner transactions and journal entries so read the titles carefully and scroll down to 24 or 25 in this playlist and those videos will clear. Things up and i'm here if you have any follow up questions
ua-cam.com/play/PLqRhgBZfJuE4_kGX9tTC5qANxUJBhBgww.html
I will check them out !! You are amazing!!!
WOW thank you; I hope you click "like" after each one and subscribe to support the free help for eveyone..
-Mark
Videos are fantastic! But I’m still a little lost on my particular situation….. would I be able to get a consultation with you? Or email privately?
Hi in qucik books how do you record expenses
This is how......
ua-cam.com/video/ZMGQgkkUj2w/v-deo.html
Quickbooks allow different entries to be made on different dates for the same Journal entry number.....is there any solution to this problem?
Yes, use your own numbering system so you don't accidentally use the same number for the same journal entry