Reports & Accounting

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I want to only show full dollar amounts on balance sheet and p

it shows $36,279.08 and it should have $2,591.75

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Hi there;  I open up my company on August, and I changed my credit card from personal to business form. The problem is now I want to reconcile my credit card account but there are a lot of personal transactions being appeared which I am not sure how I should manage them. Should I create a new account and call it personal and post them all there? or is there any other suggestion you have for me to get rid of the transactions which are not related to my business from the previous months? regards,Amivan

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Hi QBO Community, I'm a sole proprietor.  In May, I purchased a rental property valued at $500,000.  For the sake of discussion, I invested $100,000 cash from my personal account and borrowed the balance using a mortgage under my personal name ($400,000).  For the remainder of the month of May, I made some minor business expenses on my personal credit card (let's say $1000).  Finally, as of June I opened a business account, registered my business as a sole proprietorship, and began using the business account for all transactions moving forward. My questions for the community are:- How best to categorize/report the use of personal funds to purchase the asset and take on the mortgage liability?- How best to categorize/report the business expenses on my personal credit card? I have tried searching online, but the best practices are unclear.  And, before someone comments, I am aware that mixing personal and business expenses is a mess and I will

I've created projects in QBO and have recorded supplier invoices, customer invoices, & journal entries.  I've made sure I've included coding for my projects.  I'm not trying to run an income statement.  But if I select the "profit & loss report" and select "project" in "display columns by" I get a report with my project name in the top column but the report is ignoring all of my journal entries!Am I missing something or does QBO think this is right?Thanks in advance.

Hello, I would like to create a graph in quickbooks on the model of the one shown in the company snapshot (here attached) but for a period of 10 or 15 years. The one that comes with the company snapshot just give the history for the past 5 years. How can I extend that? Let me know.Dan Blum 

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Hello, My trial balance and account balance do not match. My trial balance ($1123) is less than my account balance (2273). I am not sure what went wrong. All of the transactions were recorded. Is it the trial or account balance that is needing to be corrected and adjusted?

My sales tax (GST) quaters start March 1, June 1, Sept 1 & Dec 1 instead of Jan 1, April 1, July 1 & Oct 1. How do I correct this

I am using Quickbooks Desktop.    I have two organizations to manage.   Is there a way to setup these two different organizations under one company.  I want the ability to have reports for each organization if needed AND also a combined report when needed.  Is there a way to code that/set it up?

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Hi John-pero.This is my second post.  When I checked my profile the original post showed "SOLVED"' which led me to question whether it actually was posted. Now that it is nearing yearend I am looking at our previous correspondence on depreciation and I am still struggling with the correct setup. For example, I have set up two accounts for "Dust Collectors".  One is 62811 "Depr & Amor - Dust Collectors".  The other is 17101 "Accum Depr - Dust Collectors". Let's assume that the total asset value is $900.00 and we depreciate the asset over 3 years giving us an annual depreciation amount of $300.00.  To create a journal entry at year end I would show a debit of $300 against 62811 ""Depr & Amor - Dust Collectors" and a credit of $300 against 17101 "Accum Depr - Dust Collectors".  If the foregoing is correct then am I to assume that the 17101 "Accum Depr - Dust Collectors" increases annually over 3 years until it matches the total asset value? 

I am in the process of setting up a day-trading company in Quickbooks Online - EasyStart, to keep track of my personal day-trading, Questrade account. I also understand that Quickbooks works poorly for this type of company. That said, I am used to Quickbooks and plan on making it work. By reading the Quickbooks Community postings it becomes confusing if a Day-Trading company should be set up as either a Bank, Asset, or Equity account. There are too many opinions on which one is best. I started it off as a Bank account and then changed it into an Asset account. I am starting to think I should have left it as a Bank account, all the while I am trying to solve a problem that says it should be an Equity account! Can you offer your opinion on why it should be one or the other? To enter my trades into Quickbooks online I am just wanting to make a basic Journal Entry. This journal entry will consist of total purchases, total sales, foreign exchange fees, and commissions. Withdr

Exporting a trial balance to excel requires extra steps to format because the account number is not separated from the account name... is there a way to have these export as two separate columns?

I have an Asset account set up for my Day-Trading. It has two sub-accounts. I want to show that I transferred money out of this Asset Account to my personal Bank Account. Can I use the "Transfer" option to do this, or do I need to make a journal entry? For the Day-Trading asset account, I only make one journal entry at the end of the month to keep track of everything, so I could add this transfer out to this entry if need be.

I am struggling with depreciating assets in Quickbooks Premier Desktop 2020.  The instructions that I have been able to find on Quickbooks Support are the Online version, not the Destop version.  One comment even stated that the “Track depreciation of this asset” function is not available in the Canadian version. I have created a new Account number 17101 under “Accum Depr – Furn & Equip” (I assume this the correct location) but based on the Online instructions there is no dropdown in the Desktop version for "Account Type" to select “Other Expense” nor “Detail Type” to select “Depreciation”. On the Desktop version when you create the account there is a question “Should I enter an opening balance”.  Opening this up it states “if you purchased the asset before your Quickbooks start date, do not create a transaction to put money in the account".  So I did not enter any amount. Moving to “Make General Journal Entries”.  On this scre

Profit and Loss Comparison Report