Confounded by QuickBooks?
Does any of this sound familiar?
- The amount of Sales shown on our financial reports is too high/double what it should be. (Or, I recorded that invoice payment but the invoice is still showing as unpaid in QuickBooks.)
- On my Chart of Accounts, my Accounts Receivable account has a negative balance.
- What is Undeposited Funds?
- Do I really need all these accounts on my Chart of Accounts?
- I’m running payroll, but am I doing it right?
- What’s the difference between a subcontractor (or 1099 contractor) and employee?
- I collected taxes from my employees’ paychecks, now what?
- You mean I have to remit federal, state, local, and unemployment taxes too?
- I missed a payroll tax payment and/or payroll tax return filing deadline and I got hit with a penalty.
- Keeping the IRS off my back: How do I record…
- Purchases for the business made with my personal checking or credit account(s)?
- Owner personal expenses paid with business checking or credit account(s)?
- Payments on business loans? (Hint: You can only deduct the interest portion as an expense)
- Business credit card transactions and payments.
Would you like help with your QuickBooks problems? Order a detailed video review, completed by Gwen Harrison, an Intuit-Certified QuickBooks ProAdvisor (certified in QB Desktop, QB Online Advanced, and QB Point of Sale). This video review will include instructions on how to correct any found problems. The video file will be yours to keep.