Hello Candus, thank you for this video. It was clear and easy to follow. You mentioned creating a video to cover applying payments split between loan principle and interest; I would be very interested in that content!
Hi! Thank you for watching our videos. Candus doesn't currently have a video on interest/principle for Online. However, the same principles apply as in Desktop: ua-cam.com/video/IoK2Y34MT9o/v-deo.html Have a great day! ~Kindra/Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Hi, Thanks for reaching out. I'm so glad you found our training helpful! If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus
Glad it helped you. Have an amazing day! Ednalyn ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Hi Erica, I'll make sure it's added to Candus' list of future Tips & Tricks ideas. If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips Have a great day! Ireland Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer
Hi Jane, Thanks for reaching out. I'm so happy to hear you like Candus's training style! If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus
Hi Heather! Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Hi - great tutorial, thank you. In your video, you mention doing a tutorial on adding the loan payments and interest to QB - please can you post the link .
Hi Amanda, Thank you for watching our videos. We do have one for Desktop but it would be similar principles. ua-cam.com/video/IoK2Y34MT9o/v-deo.html Have an amazing day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
We love hearing this. 🙏🏻 If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips Have an amazing day! Sam ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Hi! For a liability an increase is a debit and a decrease is a credit. Also, in accounting, debits are always listed before credits. I hope that helps! 😊 Have an amazing day, Kindra Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
Hi Jorge, Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
@@CandusKampfer Hi, thanks for responding. To be specific, it is a long duration expense (a fixed asset, will take years to pay) and I want to record the payments I (the LLC) will be paying monthly. Thought I'd say this because my original search words would direct me to how-to set up invoices the LLC would want to get paid, which is the opposite of what I need. Thanks again!
Hi Taliyah, Thanks for reaching out. I'm so happy you found our video helpful! If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus
We're so glad it helped you. Have an amazing day! Ednalyn ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Of course! ❤️ If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips Have an amazing day! Sam ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer
You're welcome. Glad it helped you. Have an amazing day! Ednalyn ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Hi, Thanks for reaching out. I'm so glad you enjoyed our tutorial! If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus
Hi Yesica, Thank you for reaching out. Yes, every asset that you purchase should have an asset account depending on how many of them you have and how you want to track them in QuickBooks. If you'd like to learn more about how to Customize your QuickBooks for your business, you can check out our Customizing QuickBooks workshop here: CandusKampfer.com/workshop Have a great day, Samantha Team Candus
Hello, In this video Candus is on QBO Accountant sample file. Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
Hi Mary, Thanks for reaching out. Woo hoo! That's so awesome to hear 🥳 If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus
Thank you so much for all your videos! Its very helpful!! Do you have a video of how to record a loan that didn't go into my bank account but went straight to from the lender to my vendor? Please advise of how to do this. Thank you!!
Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
Hi, Here is a video that covers how to break down principal vs interest for loans inside QuickBooks that I think you'll find helpful: canduskampfer.com/how-to-break-down-principal-vs-interest-for-loans-inside-quickbooks/ Have a great day, Samantha Team Candus
Thanks, Candus. How do you then get rid of the negative balance sitting under the Opening Balance Equity? Let's say it's borrowed capital, and the owner will then pay it back to the business at a later date. Would debiting a drawing account for the same amount as the Opening Balance Equity do the trick to rid of the negative balance?
Hello Rostom, Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Do you have a video for paying off a loan? For example you have an auto loan and sell the automobile to an outside customer and the customers bank pays off your auto loan directly... how do you record payoff? TIA
Hi Lori, Thanks for reaching out. We have a video on our blog that you might find helpful: canduskampfer.com/how-to-break-down-principal-vs-interest-for-loans-inside-quickbooks/ However, if you’re looking for more in-depth training on this topic, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus
I recorded the loan as you taught in the video. However, in the balance sheet I only see the long term liability. I do not see the asset in the long term assets section of the balance sheet. Why is that?
Thanks, Candus! If the loan was for operating expenses and deposited into the checking account, would I select that checking account instead of "Opening Balance Equity" when adding Journal entry?
Hi there, thanks for watching! Candus shared a tip for you on Shorts, you can watch it here: ua-cam.com/users/shorts6Zu_0Je-Yas?si=UOKczkma9JoU7-MX Have a great day 🤗 Destiny Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer
Hi Candus, thank you for uploading great great tutorial, If possible, please upload a video on “How to record advance received from customer before creating invoice and goods/service provided ? And booked as other current liability.” And “How to record advance payment to Vendors before bill and goods/service received ? And same booked as other current asset.” Both using quickbooks desktop version. I searched whole of your channel and couldnt find a video on the topics mentioned above. Help will be appreciated, Regards, Asad
Hi Asad, Thank you so much for your suggestions! I’ll make sure to add it to Candus’s list of future ideas 🤗 Have a great day! Ireland Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
Hi John, Thank you for reaching out. If you’re looking for additional QuickBooks trainings, email us at support@canduskampfer.com and we’ll point you in the right direction 🤗 Thanks for being a part of our community, Have a great day, Samantha, Team Candus
Here's my dilemma. Lol we are in the car business. We made several deposits into our business account from our personal account to purchase vehicles. As of now, i have those checks in the deposit section. I put deposits to a loan account I created to pay ourselves back. I need to show we purchased several vehicles with that money. I have no clue on what type of journal entry I can do. Help 😊
Hi Pam! Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Glad it helped you. Have an amazing day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
What if you have a surplus from the loan? I want to add that part in as an opening balance in my checking for future supply purchases. When I transfer the balance of the loan not used for the equipment purchase that I already made, it ends up adding the "surplus" amount in addition to the loan liability line making it look like I took out more than what the loan actually is.
Hi Candus - thank you for walking through setting this up. I do have a question as I am still working on fully understanding depreciation / loan etc. I have a client who bought truck (via a loan a while ago and we just set up his QBO account so we are using the opening balance of the loan) I put in the opening balance on the loan. I am just curious how i now tie in the truck as an asset account and then accumulated depreciation for the truck. I would have to start tracking it this year based on the balance of the loan as I don't have the original information on the purchase amount. I am not sure how to set all those accounts up properly? Thanks
Hi Jodi, Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Hey Candus! Thanks for the info. Would it be possible to do a video showing how tracking refinancing a long-term liability on an asset like a mortgage on a property or a company vehicle? I want to balance sheet to properly show that the originally liability is now $0 and the new one is replacing it while the value of the asset is still the same (we have 4 company vehicles and I've been opportunistic with refinancing them when there have been significant improvements in interest rates).
Hello Candus..thank you for the lesson! How you journal if the owner pay credit card business with his personal fund as a loan? ( as loan to shareholder ) Previous bookkeeper put as loan to shareholder under current assets. But from my side it should be under liability. Could you explain about this. I really appreciate it.
Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips Have a great day! Ednalyn ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
I am just starting quickbooks online, but we have existing assets with existing loans. That is where I am struggling entering the information into the system.
Hi George, I'll make sure your question is added to Candus' list of future Tips & Tricks ideas. If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips Thak you for being part of the community🙂 Elaine Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
Hi H-CON,LLC, I'll make sure your question is added to Candus' list of future Tips & Tricks ideas. If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips Thank you for being part of the community🙂 Elaine Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
Hi Candus, thank you for this useful video. I'm always careful to confirm I do the correct steps and so your video confirmed that for me. The other area - Interest Expense. If Interest exists for a loan, I would normally capture it through the bank feed. Click on the expense, click on the SPLIT BUTTON shown, ADD the principal loan amount to Loan Payable then the next line down I ADD the Interest Expense account and apply the difference which is Interest and SAVE. Does that make sense to you or if you have other alternatives, I would be interested in learning more. Thank you!
We're glad the video helped you, Carrie. I'll make sure your question is added to Candus' list of future Tips & Tricks ideas. If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips We are offering support to members of our Confidence with QuickBooks community. It is a program where Candus shows you how to use QuickBooks in an easy and simple way. If you would like to learn more about that, we are hosting special workshops. You can add your contact information here to be notified on our next workshop: canduskampfer.com/workshop Have an amazing day🙂 Elaine Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
How to categorize multiple bank deposits which will are loans from officers of the company? I have them as long-term liabilities but unclear when going to categorize how to designate the vendor/payee tab
Hi, Thanks for reaching out. In the deposit, each owner's loan would be its own line item. The vendor would be the owner's name, and the account would be the liability account. If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus
Hi, I'll make sure your question is added to Candus' list of future Tips & Tricks ideas. If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips Have an amazing day🙂 Elaine Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
How would you handle entering loans for vehicles/equipment if you purchased them years ago? I am starting an online company file fresh starting 1/1/2021. I previously had desktop that had incorrect info from 2011 so I didn't want to merge anything from my 2019 product.
Hi Natalie, Thank you for reaching out 😊 Congratulations on starting a new company. Since you have very specific questions for Candus, the best way to receive support would be to attend her webinar. You can register for it here canduskampfer.com/workshop Genny~Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer
Candus, rather than using the journal entry screen to start your loan amount - could you have used the Deposit form? I cringe when I see or hear JE ☺️☺️☺️
Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
Hi Dan, Thank you for reaching out. I wanted to let you know that you can slow down the speed of the video by clicking on the wheel in the button right corner of the video, clicking "Playback Speed" and then selecting which speed you'd prefer that way you can fully understand everything Candus is teaching in this tutorial. I hope this helps! Have a great day, Samantha, Team Candus
Hi Everett, There is a setting in the bottom right corner if you want to change your speed. You can also pause or rewatch anything. Have a great day! ~Kindra/Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/
How'd you pull up that customer / vendor tab @ 4:22? 🤔
Hello Candus, thank you for this video. It was clear and easy to follow. You mentioned creating a video to cover applying payments split between loan principle and interest; I would be very interested in that content!
Hi!
Thank you for watching our videos.
Candus doesn't currently have a video on interest/principle for Online. However, the same principles apply as in Desktop:
ua-cam.com/video/IoK2Y34MT9o/v-deo.html
Have a great day!
~Kindra/Team Candus
P.S. We’d love to connect with you! Find us on ↓
Instagram: instagram.com/candus.kampfer
Facebook: facebook.com/CandusKampfer
TikTok: www.tiktok.com/@canduskampfer
Pinterest: pinterest.com/canduskampfer/
Love your training you explain it so clear
Hi,
Thanks for reaching out.
I'm so glad you found our training helpful!
If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here:
CandusKampfer.com/workshop
Have a great day,
Samantha, Team Candus
Which amount would I enter: the loan amount, the amount I actually received or the amount I'm expected to payback?
Incredibly helpful. thank you!
Glad it helped you.
Have an amazing day!
Ednalyn ~ Team Candus
P.S. We’d love to connect with you! Find us on ↓
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Would love to see how you set up an asset in quickbooks online as well. Thanks so much!
Hi Erica,
I'll make sure it's added to Candus' list of future Tips & Tricks ideas.
If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips
Have a great day!
Ireland
Team Candus
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Yes please make the setting up an asset & linking it to the loan video ❤️
This is perfect teaching!
Hi Jane,
Thanks for reaching out.
I'm so happy to hear you like Candus's training style!
If you’d like to learn more about how to optimize QuickBooks for your business, I recommend
checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here:
CandusKampfer.com/workshop
Have a great day,
Samantha, Team Candus
Thank you for the video. I would appreciate a video on setting up an asset.
Hi Heather! Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month.
The best possible way for you to receive support from Candus is to register for and attend her workshop.
Here is the link to register to attend: canduskampfer.com/workshop
Have a great day!
Kindra ~ Team Candus
P.S. We’d love to connect with you! Find us on ↓
Instagram: instagram.com/candus.kampfer
Facebook: facebook.com/CandusKampfer
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Pinterest: pinterest.com/canduskampfer/
Hi - great tutorial, thank you. In your video, you mention doing a tutorial on adding the loan payments and interest to QB - please can you post the link .
Hi Amanda,
Thank you for watching our videos.
We do have one for Desktop but it would be similar principles.
ua-cam.com/video/IoK2Y34MT9o/v-deo.html
Have an amazing day!
Kindra ~ Team Candus
P.S. We’d love to connect with you! Find us on ↓
Instagram: instagram.com/candus.kampfer
Facebook: facebook.com/CandusKampfer
TikTok: www.tiktok.com/@canduskampfer
Pinterest: pinterest.com/canduskampfer/
Just went in and set up the new vehicle loan. Thank you. (added the asset first)
We love hearing this. 🙏🏻
If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips
Have an amazing day!
Sam ~ Team Candus
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at 4:46 when you say increase does that mean debit? or credit?
Hi!
For a liability an increase is a debit and a decrease is a credit. Also, in accounting, debits are always listed before credits. I hope that helps! 😊
Have an amazing day,
Kindra
Team Candus
P.S. We’d love to connect with you! Find us on ↓
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Hello, I was wondering if you have created a how-to for applying a payment, principal & interest to a loan?
Hi Jorge,
Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month.
The best possible way for you to receive support from Candus is to register for and attend her workshop.
Here is the link to register to attend: canduskampfer.com/workshop
Have a great day!
~ Team Candus
P.S. We’d love to connect with you! Find us on ↓
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@@CandusKampfer Hi, thanks for responding. To be specific, it is a long duration expense (a fixed asset, will take years to pay) and I want to record the payments I (the LLC) will be paying monthly. Thought I'd say this because my original search words would direct me to how-to set up invoices the LLC would want to get paid, which is the opposite of what I need. Thanks again!
This is pretty helpful.
Hi Taliyah,
Thanks for reaching out.
I'm so happy you found our video helpful!
If you’d like to learn more about how to optimize QuickBooks for your business, I recommend
checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop
Have a great day,
Samantha, Team Candus
Thank you for this video much appreciated.
We're so glad it helped you.
Have an amazing day!
Ednalyn ~ Team Candus
P.S. We’d love to connect with you! Find us on ↓
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Facebook: facebook.com/CandusKampfer
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Thank you for this video❤
Of course! ❤️
If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips
Have an amazing day!
Sam ~ Team Candus
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Did you make a video on to split the loan and interest payment?
Thank you!
You're welcome. Glad it helped you.
Have an amazing day!
Ednalyn ~ Team Candus
P.S. We’d love to connect with you! Find us on ↓
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Great and helpful Candus. I am a QBO Certified Pro Advisor here the UK. Looks like your QBO is identical apart from the currency symbols.
Hi,
Thanks for reaching out.
I'm so glad you enjoyed our tutorial!
If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop
Have a great day,
Samantha, Team Candus
I'm starting quickbooks for my business and you're a great teacher I'm keeping you close lol which I had you as close a WhatsApp.
Hi,
Aw, thanks! I'm glad you find our teaching style helpful 🤗
Have a great day,
Samantha, Team Candus
Do we add a new asset account for each asset ?
Hi Yesica,
Thank you for reaching out.
Yes, every asset that you purchase should have an asset account depending on how many of them you have and how you want to track them in QuickBooks.
If you'd like to learn more about how to Customize your QuickBooks for your business, you can check out our Customizing QuickBooks workshop here: CandusKampfer.com/workshop
Have a great day,
Samantha
Team Candus
Where in the long term assets section do I see the asset I bought?
Can you share me software version which you are using in demo video please if you can
Hello,
In this video Candus is on QBO Accountant sample file.
Have a great day!
Kindra ~ Team Candus
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set up my loan! Thank you
Hi Mary,
Thanks for reaching out.
Woo hoo! That's so awesome to hear 🥳
If you’d like to learn more about how to optimize QuickBooks for your business, I recommend
checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here:
CandusKampfer.com/workshop
Have a great day,
Samantha, Team Candus
Thank you so much for all your videos! Its very helpful!!
Do you have a video of how to record a loan that didn't go into my bank account but went straight to from the lender to my vendor?
Please advise of how to do this.
Thank you!!
Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month.
The best possible way for you to receive support from Candus is to register for and attend her workshop.
Here is the link to register to attend: canduskampfer.com/workshop
Have a great day!
~ Team Candus
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I’d like a video on how to post loans payments. Tks
Hi,
Here is a video that covers how to break down principal vs interest for loans inside QuickBooks that I think you'll find helpful: canduskampfer.com/how-to-break-down-principal-vs-interest-for-loans-inside-quickbooks/
Have a great day,
Samantha
Team Candus
Thank you very much
Thanks, Candus. How do you then get rid of the negative balance sitting under the Opening Balance Equity?
Let's say it's borrowed capital, and the owner will then pay it back to the business at a later date. Would debiting a drawing account for the same amount as the Opening Balance Equity do the trick to rid of the negative balance?
Hello Rostom,
Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month.
The best possible way for you to receive support from Candus is to register for and attend her workshop.
Here is the link to register to attend: canduskampfer.com/workshop
Have a great day!
Kindra ~ Team Candus
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Do you have a video for paying off a loan? For example you have an auto loan and sell the automobile to an outside customer and the customers bank pays off your auto loan directly... how do you record payoff? TIA
Hi Lori,
Thanks for reaching out.
We have a video on our blog that you might find helpful: canduskampfer.com/how-to-break-down-principal-vs-interest-for-loans-inside-quickbooks/
However, if you’re looking for more in-depth training on this topic, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop
Have a great day,
Samantha, Team Candus
I recorded the loan as you taught in the video. However, in the balance sheet I only see the long term liability. I do not see the asset in the long term assets section of the balance sheet. Why is that?
Hi Candus, Can I leave the beginning balance empty and add it later? I don't have my client's loan doc yet but he has made a payment.
Hi Kathy,
Yes, you can. It'll throw off your numbers for reconciling until it's updated, but you can add it at any time. ~Kindra/Team Candus
Thanks, Candus! If the loan was for operating expenses and deposited into the checking account, would I select that checking account instead of "Opening Balance Equity" when adding Journal entry?
Hi there, thanks for watching! Candus shared a tip for you on Shorts, you can watch it here: ua-cam.com/users/shorts6Zu_0Je-Yas?si=UOKczkma9JoU7-MX
Have a great day 🤗
Destiny
Team Candus
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Hi Candus, thank you for uploading great great tutorial,
If possible, please upload a video on
“How to record advance received from customer before creating invoice and goods/service provided ? And booked as other current liability.”
And
“How to record advance payment to Vendors before bill and goods/service received ? And same booked as other current asset.”
Both using quickbooks desktop version.
I searched whole of your channel and couldnt find a video on the topics mentioned above.
Help will be appreciated,
Regards,
Asad
Hi Asad,
Thank you so much for your suggestions! I’ll make sure to add it to Candus’s list of future ideas 🤗
Have a great day!
Ireland
Team Candus
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I took an SBA loan to pay off a higher interest loan and put working capital in the bank. How do I add that loan and show the old paid off?
Hi John,
Thank you for reaching out.
If you’re looking for additional QuickBooks trainings, email us at support@canduskampfer.com and we’ll point you in the right direction 🤗
Thanks for being a part of our community,
Have a great day,
Samantha, Team Candus
Here's my dilemma. Lol we are in the car business. We made several deposits into our business account from our personal account to purchase vehicles. As of now, i have those checks in the deposit section. I put deposits to a loan account I created to pay ourselves back. I need to show we purchased several vehicles with that money. I have no clue on what type of journal entry I can do. Help 😊
Hi Pam!
Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month.
The best possible way for you to receive support from Candus is to register for and attend her workshop.
Here is the link to register to attend: canduskampfer.com/workshop
Have a great day!
Kindra ~ Team Candus
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Good
Glad it helped you.
Have an amazing day!
Kindra ~ Team Candus
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What if you have a surplus from the loan? I want to add that part in as an opening balance in my checking for future supply purchases. When I transfer the balance of the loan not used for the equipment purchase that I already made, it ends up adding the "surplus" amount in addition to the loan liability line making it look like I took out more than what the loan actually is.
Hello Sara, I responded to your other message 😊
Hi Candus - thank you for walking through setting this up. I do have a question as I am still working on fully understanding depreciation / loan etc. I have a client who bought truck (via a loan a while ago and we just set up his QBO account so we are using the opening balance of the loan) I put in the opening balance on the loan. I am just curious how i now tie in the truck as an asset account and then accumulated depreciation for the truck. I would have to start tracking it this year based on the balance of the loan as I don't have the original information on the purchase amount. I am not sure how to set all those accounts up properly? Thanks
Hi Jodi,
Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month.
The best possible way for you to receive support from Candus is to register for and attend her workshop.
Here is the link to register to attend: canduskampfer.com/workshop
Have a great day!
Kindra ~ Team Candus
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Hey Candus! Thanks for the info. Would it be possible to do a video showing how tracking refinancing a long-term liability on an asset like a mortgage on a property or a company vehicle? I want to balance sheet to properly show that the originally liability is now $0 and the new one is replacing it while the value of the asset is still the same (we have 4 company vehicles and I've been opportunistic with refinancing them when there have been significant improvements in interest rates).
Hello Candus..thank you for the lesson!
How you journal if the owner pay credit card business with his personal fund as a loan? ( as loan to shareholder )
Previous bookkeeper put as loan to shareholder under current assets.
But from my side it should be under liability.
Could you explain about this.
I really appreciate it.
Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month. If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips
Have a great day!
Ednalyn ~ Team Candus
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I am just starting quickbooks online, but we have existing assets with existing loans. That is where I am struggling entering the information into the system.
How do you record a refinance? I just refinanced a property and I want to close out current loan and replace with a new one.
Hi George,
I'll make sure your question is added to Candus' list of future Tips & Tricks ideas.
If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips
Thak you for being part of the community🙂
Elaine
Team Candus
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Hi H-CON,LLC,
I'll make sure your question is added to Candus' list of future Tips & Tricks ideas.
If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips
Thank you for being part of the community🙂
Elaine
Team Candus
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Hi Candus, thank you for this useful video. I'm always careful to confirm I do the correct steps and so your video confirmed that for me. The other area - Interest Expense. If Interest exists for a loan, I would normally capture it through the bank feed. Click on the expense, click on the SPLIT BUTTON shown, ADD the principal loan amount to Loan Payable then the next line down I ADD the Interest Expense account and apply the difference which is Interest and SAVE. Does that make sense to you or if you have other alternatives, I would be interested in learning more. Thank you!
We're glad the video helped you, Carrie.
I'll make sure your question is added to Candus' list of future Tips & Tricks ideas.
If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips
We are offering support to members of our Confidence with QuickBooks community. It is a program where Candus shows you how to use QuickBooks in an easy and simple way.
If you would like to learn more about that, we are hosting special workshops. You can add your contact information here to be notified on our next workshop:
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Have an amazing day🙂
Elaine
Team Candus
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How to categorize multiple bank deposits which will are loans from officers of the company? I have them as long-term liabilities but unclear when going to categorize how to designate the vendor/payee tab
Hi,
Thanks for reaching out.
In the deposit, each owner's loan would be its own line item. The vendor would be the owner's name, and the account would be the liability account.
If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here:
CandusKampfer.com/workshop
Have a great day,
Samantha, Team Candus
Wow
I refinance my mortgage. How do I enter the pay off of an old loan with the new loan?
Hi,
I'll make sure your question is added to Candus' list of future Tips & Tricks ideas.
If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips
Have an amazing day🙂
Elaine
Team Candus
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How would you handle entering loans for vehicles/equipment if you purchased them years ago? I am starting an online company file fresh starting 1/1/2021. I previously had desktop that had incorrect info from 2011 so I didn't want to merge anything from my 2019 product.
Hi Natalie,
Thank you for reaching out 😊
Congratulations on starting a new company. Since you have very specific questions for Candus, the best way to receive support would be to attend her webinar. You can register for it here
canduskampfer.com/workshop
Genny~Team Candus
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Candus, rather than using the journal entry screen to start your loan amount - could you have used the Deposit form?
I cringe when I see or hear JE ☺️☺️☺️
Thank you for watching our videos 😊
I will add your question to the list Candus uses to create new QuickBooks tips each month.
The best possible way for you to receive support from Candus is to register for and attend her workshop.
Here is the link to register to attend: canduskampfer.com/workshop
Have a great day!
Kindra ~ Team Candus
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It was all gone good until the end and then it all went south and you talked so fast andcouldn’t figure out
Hi Dan,
Thank you for reaching out.
I wanted to let you know that you can slow down the speed of the video by clicking on the wheel in the button right corner of the video, clicking "Playback Speed" and then selecting which speed you'd prefer that way you can fully understand everything Candus is teaching in this tutorial.
I hope this helps!
Have a great day,
Samantha, Team Candus
you go too fast!
Hi Everett,
There is a setting in the bottom right corner if you want to change your speed. You can also pause or rewatch anything.
Have a great day!
~Kindra/Team Candus
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how to record in QBO Shareholders - Ded. debenture adj.