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

I have never used quickbooks before. I just bought desktop pro 2019 to use in my new private practice. I am not sure what to pick as the business type, is it medical, general services? I am very confused and want to do this right. Can anyone please offer any insight.

My business is a single member LLC and I am new to QB.  I've searched the topics and Q&A but am not quite finding the answer I need.  I accidentally used my personal CC to make a business purchase.  Rather than use my personal funds to make a payment on my personal CC for the purchase, I made the payment from my business checking account.  How do I record this in QBO Simple Start?

  Do more with QuickBooks by knowing exactly what each feature is and does. The QuickBooks Encyclopedia is designed for everyone -- those who are brand new to QuickBooks as well as those in need of a quick reference.   Note that accounting definitions, while precise, are not universally applicable in all cases. How and when to apply these concepts entirely depends on the context. As such, it's always wise to work with your accountant if you're going beyond the basics.       QuickBooks Encyclopedia - Essential QuickBooks Online Definitions       QuickBooks Encyclopedia – Basic Accounting Definitions 

Just started my cleaning business and landed a good account. Quickbooks looks to be great at estkmating my quarterly taxes to pay but my question is does that involve state taxes also? I live in ohio and was wondering about state taxes. Any help would be appreciated thanks mike

I have several companies set up with different Quickbooks online accounts. I recently added a company and went to set up my Paypal feed and found I can now only use the "Connect with Paypal" app by Intuit and that the bank feed is no longer available.  This is extremely disappointing because the app does not allow me to categorize my incoming deposits, it throws them all in some pre-established category "Paypal Sales". I have more than one sales venue linked to my paypal account and I need to be able to easily categorize the incoming transactions to go to which sales channel they are from so that they report correctly. I thought that one of the main reasons to use an accounting system like Quickbooks Online is so that your data can be easily categorized so that it reports correctly. I am beyond disappointed that Intuit discontinued the bank feed option when the app does not have the same functions. Is anyone else having this same issue?

I'm new to qb and my company has several trucks that it wants to track expenses by truck.  For example,  they want to track (1) Oil and Gas Exp, (2) Repairs & Maint and (3) Taxes and Insurance for each truck but also easily see the total expense for these accounts.  What is the best way to do this? 

Just got an email to confirm my Intuit ID to continue receiving payments on line. Is this a scam?? Please advise. Thank you[email address removed]

Hi my name is Andrew GAnd I just recently started a landscaping business about 6 months ago and I have no idea on what I need to do for filing taxes...ive filed my personal taxes with TurboTax before but not for a business.Anyone have suggestions please

I have sales income coming in from a 3rd party vendor (where customers make payments). However, I am getting $0.00 in the sales tax column. My expenses were very high so maybe this is why? But if not, I am a little confused of how to get this to show up? I feel like I should owe something to the IRS but I have no idea how much? Isn't QuickBooks supposed to be able to also let you send a form for payment to the IRS as well? I can't find this anywhere either. (The reports DO show income and expenses however).

Hello, we are still a newer company but have been in business for 4 years, running as a sole prop. Does anyone have some quick dumbed down advice as to why maybe an S-corp would be beneficial to me? 

I started a small business iSTEAM Studio to teach kids STEM and Coding. I started very quickly and did not really pay attention to managing accounts. Where should I begin? What should I do? I have some receipts not all...I remember most of my incomes as I have a new account opened. but some payments only...Please help.   

Hi, I just started my Linked In account and I'm looking for other accountants to friend and chat with.   Connect with me, say Hi and tell me what area you're from. I'm near Nashville, TN. [LINK REMOVED]   Thanks! Michelle Hamilton

2017 was my first year in business (Handyman/Construction services). Who should I contact about help filing my first year? I would like to do everything through the quickbooks/turbo tax software in hopes that I can repeat the process in the futre by myself. Should I be looking for a CPA? Tax specialist? Who? 

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I started up my LLC in may of last year. For nie I am a single member LLC. I choose to operate as a sole proprietor for remaining 2018 and plane to file a schedule C along with my previous employment w2s. Now the new year has started not sure on how to request from the IRS as to operating or neungntaxed as a C Corp or S Corp or stay as a sole proprietor. I kinda understand each choice but it's still unclear as to which would be the most beneficial to,do? It's just me for now but looking into bringing some help on board , however was going to provide the help a 1099 as they would be subbing out the work from me. I am in the service repairs trade any info would be appreciated. 

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I transfer funds from my primary back account to  a couple of other bank accounts weekly.  The amount is the same.  How can I automate this?  I use desktop 2016 pro. I go to Banking -> Transfer Funds to make transfers.  

Hello group,I am hoping to find answers for the new sales tax law for online sales.  Previously, I only charged sales tax on item sold in my home state.  I am trying to find information of how the new law affects my online sales.  Specifically if I need to start charging sales tax and if quickbooks will offer a new program to automatically add each states applicable sales tax for us.  Also if quickbooks will offer a program or app to calculate and pay individual states.  Any feedback is appreciated.Michelle

Hello,  I became Sole owner of a LLC 08/02/2018. It was runned before as LLC Partnership filling every year a 1065 form. What form should I use for 2018 ? Should I use a:- 1065 Form for the Period 1/1/2018 to 8/1/2018And- 1040 Form for the Period 8/2/2018 to 12/31/2018  Can I still opt for S corp tax for 2018 and fill a 1120s Form (Knowing that I was drawing money when I wanted as sole owner during the year?), does it worth it ?  Thank you for your advices!

Hello,In the Accrued Liabilities line item under Current Liabilities:1.) Should Sales Tax (on sales that have been already made)  that are still due be included?2.) If Income Taxes are included in this line item - Should the number here be the total of prepaid estimated taxes that were paid in the last tax year, as the current year's taxes are still not final? 

I am interested in what types of self-education are you interested and which one do you use? Why? What can you recommend? 

    Many small businesses hire short-term or bring on independent contractors to complete projects. Properly accounting for expenses associated with their work is mission critical.   You can track these expenses and file 1099-MISCs for your independent contractors directly from QuickBooks. It’s essential that you follow the process outlined in this article, not only for good accounting but legal reasons as well. There are also hired-wired 1099 features that only work up if you utilize these workflows.     Why do I need to track 1099 independent contractor payments separately?   The very simple answer: separating regular employee payments from independent contractor payments is crucial due to the nature of their work and their relationship to your business.   Independent contractors, on-demand or self-employed workers, and freelancers are individuals who do work for you but are not your official employees. As such, you need to report independent con

I was wondering if anyone else had better solutions to managing a high volume of security deposits?Right now my team handles about 40-60 security deposits a month. I've heard of some rental property companies with hundreds during a month.These are deposits that our company takes in to cover due diligence costs (appraisal costs and underwriting) and to make sure that the customer is invested in the process. Logging all of these deposits gets pretty tedious to do in QB.It is a lot of creating, managing, refunding, partially refunding, deducting that means a lot of journal entries and manual entry.Our interim solution: My team is using a combination of Stripe, TransactionPro (a QB app), and QB to cut down on manual entries. Does anyone have a better solution? 

1. If I enter vendors bills as checks instead of including them in the Accounts Payable line item of the statement- Does it mean they go into the expenses portion of the Net income (loss)?2. At the point of time of the Statement of cash Flows there is a vendor bill that is unpaid and on hold due to legal dispute that is underway but still not resolved - How do I account for it in the Statement of cash Flows