Other Questions

Hi there, I just have a question regarding a business owner using the company funds to pay for personal expenses such as dental work. The company is a sole proprietorship and the owner is on payroll along with the other employees. If the owner used the company to pay for part of their dental expenses, would it be considered a non-taxable benefit? Also how would I enter this in QuickBooks? Thanks for any insight anyone may have! 

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In my Income Tracker, there are a lot of payments that have a $0.00 balance but are still showing in that screen.  I thought once they were paid and reconciled, they would disappear from this screen and only any invoice with an open balance would show. Can you help me find out why they are still there and how to remove and close them? Thanks,Shannon 

Hello, Does anyone have any experience with integrating Inventory Management software with QBO and Shopify? Specifically with S.O.S. Inventory Software, Shopify and a 3PL ecommerce fulfillment provider. We manufacture, market and sell personal hair care products and there is multi step manufacturing and assembly involved with work in process by contract manufacturers. Fulfillment is being done by ecommerce using a third party logistics provider and orders are through Shopify. We are looking to have a setup where we would be relying on one point of reference for inventory information being Shopify and not have to be reconciling different versions of inventory reports from S.O.S. or QBO etc.   If anyone has a similar set of facts and they could share any issues faced or other challenges and what you did to work around or resolve those, that would be great. Also any recommendations for other inventory management apps that integrate with QBO, or other advice i

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How can I record depositing money from my personal bank account into my corporation? This was the initial deposit so that the business could start operations. Thank you in advance!

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I am a new QBO user. When setting up the Chart of Accounts I used the Opening Balance Equity account to transfer starting equity from our bank balances, inventory, and to do the first reconciliation in January (followed all the steps outlined in QBO).How do I correctly clear the Opening Balance Equity account to zero? It is my understanding that it should be cleared out and it's only used for set up. I have a sole prop. 

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If a charity receives a receipt from a donor for rental space that is donated, how do I record it since it doesn't go through the bank account.

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Can we set up a PAD (Pre-authorized debit) for one of our clients? They plan to pay x over 3 - 6 months. We would both like to automate the payments.