Business Discussions

We have recently upgraded our production system to Action Flow.  It is not an accounting program so we are keeping QB for that side. I am just wondering if anyone has this system and can help with a few things.How do other QB users get around no estimate import and how to handle deposits that import as payments.Thank you,Angel

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I use Quickbooks Desktop for Mac.  My client uses Square as their POS, and those deposits are imported by me from their bank into my QB desktop. This is a candy store, not everything is taxable, and there is no breakdown from Square to their bank detailing how much of that deposit is tax collected.  There are multiple locations, so a there is huge number of deposits per day from Square.  How do I set up paying sales tax in this scenario given that I will not know the total of sale tax that is part of those sales deposits?  I'd appreciate any help!

Hello - Our S-Corp passed down about $60,000 to us.  We W2'd ourselves $20,000.  When applying for the EITC does the $60K count as earned income?   In the same respect, when applying for the Saver's Credit is it just my AGI or does earned credit factor into it too. Thank you 

Can't believe this product does not have a calculator for commissions.  Even worse, the work around, Acc Settings, Advance, "CATEGORIES" suggested does not exist.     Any that can help track sales and pay commissions would be most appreciated

I m in construction and started using QB a few weeks ago. I do expense contractors under contractors classification in QB, but what about raw materials? I use the 'COGS' classification for those, since there is no Inventory per se. Is this correct? The home construction process is a long one, consists of mainly contractor and raw materials expense, in the end an inventory of one home is sold. I use QB online.

Hello - We're an S-Corp.  This year it passed down $60,000 to us.  We also W2'd ourselves $20,000. What is our maximum SEP contribution for his year?  $5,000 or $20,000?  Thank you

When I recieve my inventory I need to put my price tags on each one. the little package they come in most times has a square box that I believe is some sort of scan. I need to find an easy to keep tract of my inventory and my sales so that I know when to reorder. Each item comes in 7 different sizes. I am not a genius with quickbooks and I am trying to teach myself if anyone has any sugestions I would be ever so gratefull. What is th best way to learn quickbooks and figure out a system to keep tract of all of this

how do i record alamony on an owners books

how do i record alamony

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Hey there everyone, I have company i keep books for and had a quick question. The shareholder of the company loaned 60k to the business in december 2017 to cover last minute expenses, and paid back the 60k in January when he received payment from a job. The he loaned money to the company again in December of 2018 to cover expenses. Would the loan amount from 2018 be entered into the loan account i have set up from the previous year (2017) where the 60k was entered and paid back, or do i create separate accounts every time the shareholder loans money to the company? Looking for a bit of help, thanks in advance!

Hi everyone,Has anyone done a data migration from Jonas Construction to Quickbooks? 

As a recent treasurer,using QB desktop Premier for Non Profits,  I f ind our cash and fund accounting has been adequately managed through using bank sub accounts identified as temporarily restricted and non restricted.  A new accountant has directed the use of equity accounts to replace thie bank sub accounts and I am trying to determine how to best track transactions through our system when QB registers are primarily bank registers.

I need help with non-prof can anyone help?

There are many different things to take into consideration when selecting a team for software development.  For the past two years I have been developing my own QuickBooks Desktop application which helped teach me a lot about the whole process.  While creating my minimum viable product (MVP) I utilized sites like Upwork and Freelancer to really get the ball rolling.  While this was a cost-effective solution that helped me get started, I found that you need to find the right person who is willing to help you through the process when you do not even know what the right questions to ask are.   Here are some tips from lessons I learned the hard way:   Statement of Work People are not kidding when they say that coding is a whole different language, but they are not just talking about the actual code, every aspect of communication is much more precise.  Just like in accounting, scope creep (people always asking for just one more thing) is very common and I stro

I apologize if this is a duplicate.  Can't locate where I sent before.Just to give you a little background. My son owns a small construction company. He has been keeping is own books through an excel spreadsheet.  He hired me a little over a month ago.  I got us set-up on QBO. I have worked with QBO many years ago but, I am a little lost right now trying to get things going.  He pays contractors from his Co. account. He purchases materials & supplies from his Co. account, another Co. account, and a personal CC account.  He then invoices the client for payroll, an added admin fee, and materials & supplies. So I am kinda of lost at how to start entry in QBO.1) How to post the purchases (that will be charged to client) made with his Bank card, other Co Bank card, & personal CC.2) How to reimburse him for using other Co Bank card & personal CC.  He has been transferring $ from Co account bank account to personal account.3)How to post purchases

Hello all, This is my first post. I would like to start an IT consulting company in Chester County PA. I will be providing IT Support to clients. The support will consist of software support and hardware repair. I could not find a definitive answer if I should charge my clients sales tax on the IT support that I will be proving in the state of Pennsylvania. Thank you for your help.

hello,In my business, i want to adjust the amount of customer equally in all months. Lets say a customer pay the 12000 for a year i want to adjust that 12000 equally for each month like 1000 per month. Is it possible? If yes the please help me out. Thanks

Hi,I'm a new small business owner [Feb '19 start date] and can't find definite answers to tax filing related questions. I'd appreciate some clarifications from experienced business owners.Sole proprietor, selling services and products, based in CA, married filing jointly, spouse employed, using QB Pro for desktop Mac.I understand that I have to pay quarterly estimated taxes.Since filing status is MFJ, do I need to file just 1040-ES for the business side?It appears that any TT desktop application includes schedule C and SE. Also, I understand that any TT application can import data from QB desktop company file. Which TT version would you recommend for filing quarterly?Thanks in advance for any advice related to my questions.

My company is a two member LLC. For EFIN application on IRS website, there is no Limited Liability Company in the drop down list. Instead the choices are;1. Limited Liability Partnership2. Limited Liability Corporation I'm wondering which structure should I choose . At time of applying for EIN, the default structure that IRS assigned for tax purpose was partnership. But my company is not a partnership, just a two member LLC.Thanks 

Hello All,My two member LLC established in January 2019. I've got the EIN. Now, I changed 

Any recommendations on an A/P management system preferably cloud based. Company currently is filing paper invoices. We maintain 5 QuickBooks, 3 construction companies and 2 rental properties, lots of job costing so retaining bills is important especially because we do reimbursements inter company. I was thinking bill.com but I am not sure if I will need 5 separate bill.com accounts to use with QBO...trying to find something less cumbersome than that or a filing cabinet for maintaining records.

Hi Everyone,I have never posted here before, so hopefully I have done this correctly and in the right area. I have started a new S corp in August. Since it is newly formed I don't believe I will have profits yet for the year. So my question is, do I have to pay myself an reasonable salary? Other research I have done makes it sound like in the beginning you do not have to especially when there are no profits yet. However, I have taken a few small distributions (less than $500) to pay my tithes from the small income I did have initially before I had higher expenses from buying equipment. I am concerned that those distributions will put up a red flag since I took those, but did not pay myself a salary. I'm wondering if I need to pay myself one in December, and then I could take those funds and put them back into the S corp as I don't want to pull money from it right now. Or if I would be ok to just not take a salary. Opinions please! 

Hello! I was hoping someone could help me with how to categorize a Timeshare a company holds?? A monthly payment is made towards the timeshare  Thank you,