Reports & Accounting

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Hello all -I invested $1000 in a local media organization a few years ago and last year they changed to a nonprofit model. I am able to write off the money on my taxes as a loss.Any advice on how should I write a General Journal entry in order to remove it from my Balance Sheet?Thanks in advance for the help,JW

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Hi everyone, I currently operate a Canadian franchise and am having difficulty tracking SALES vs payments.  We reconcile payments and charges on a weekly basis.  My sales are calculated based on POS and third party transactions, but my payments are not exactly equivalent to my sales.  We received credits from the franchisor and third parties for marketing and other reasons.  We pay taxes on SALES, so I cannot enter my payments from all the vendors as an invoice because it will record as total sales, which is not correct.   IE.  Sales shows 10,000 for the week Payments Received:1000 Visa1000 MC1000 Debit5000 third party platforms1000 Cash500 Credits1000 Visa DebitTotal Payments= 10,500 How can I used QBO to record true sales figure of 10,000, but still apply 10,500 payment to my AR account without accounting for 500 of extra revenue?   

I'm using QB Essentials for a small non-profit organization, and have to change some of the account names of statement headings to suit the industry.  For example, the use of Retained Earnings is not applicable for an NPO.  I can change the headings in the standard reports, but what about those in the management report heading?

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Just recently the spacing on my qb online reports has changed to double spacing.Specifically, I'm trying to print a GL account listing and now it's double space.  Viewing is fine.  Printing is the problemI don't see anywhere in QB online where I can change the settings on the reports.

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I use the Add Time/Costs to import the billable items to my customer's invoice, however I just realized that this results in the items be omitted, or left out, of the sales revenue on the income statement.  In Canada we have to charge GST on top of these expenses and so I need to have the items added to the Sales Revenue.  How can I adjust the Add Time/Cost function to Sales Revenue?

I have a company with many open invoices and when I try to post a payment, none of the invoices can be found.

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It would be nice to have these available so I can send out in a batch when everything is ready to go.

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I have set up my accounts so that my Director can submit bills to the company for reimbursement of company expenses paid by the Director. The company has no funds yet and the so Director wishes to apply the payment of monies owed from the corporation to the Director as a credit to her Equity account (as Long term liability) rather than to make a payment to reimburse the expenses. Any guidance on what needs to be added to the Chart of Accounts and how to enter the transaction would be greatly appreciated!  

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I am seeking guidance on best practices for managing imbalances between invoices issued and funds deposited due to foreign exchange. The scenario is simple:- Invoices are issued in CAD$  - Client converts CAD4 to USD$ and cuts a cheque  as remittance against the invoice- Company deposits cheque into a Canadian bank account Always there is a difference in the amount invoiced versus in CAD$ versus the amount deposited in CAD$. sometimes positive, sometimes negative. What is the best practice for accounting for entering the transactions such that invoices and funds deposited reconcile professionally? 

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