Reports and Accounting

Hello.We are incorporating an existing Sole Trade business into a Limited Company. We are primarily a retail shop and cafe. The new company has 2 directors - the previous sole trader and her partner. The business is being transferred as a going concern in its entirety.We have opted to sell the assets (shop stock, equipment, goodwill etc.) to the new Ltd. Company. These assets have been valued. We understand that the Ltd Company should be invoiced for the value of the assets, and we have drawn up that invoice.The Ltd. company cannot pay for the assets immediately. So we have set up a Director's Loan account - this currently only records the cash transfer made from the Sole Trader bank account to the new company.We now want to record the assets which the company has been invoiced for but will remain a Liability for now.I can't get my head around how this should be recorded as ?Journal Entries?. If anyone can walk me through the steps, I'd be very grateful! 

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I own a rental property that has increased in value. I've been advised to record this in an Equity account called "Revaluation Reserve". Looking elsewhere on the QB Community, I've seen that this should be balanced against an "Other Income" account called "Unrealized Gains/Losses". If the house has increased in value, is it correct to put a debit into "Revaluation Reserve" and a credit into "Unrealized Gains/Losses"? 

We are trying to produce a Daily Sales Summary Report (which we were able to do successfully on QBDT.We have customised the Sales by Customer Detail (nearest we could find to DSSR), but there is no option for NETT AMOUNT which is crucial to our reporting.  Does anyone have a workaround?  

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We set our USA clients up in USD.  When i pull a report through it pulls through the GBP.  I need the USD figures that we invoiced the client not the GBP.  I spend hours converting them to USD to send across to the accountant as we are paid in USD. Is there a way around this without having 2 QB accounts one in GBP and the other in USD? Thank you Jean 

Hi all - I just wanted to raise awareness of a bug in QBO We have foreign currency customers and suppliers Currency is USD We have regular, invoices that we simply copy - change minor details - date is automatically updated - then send We have just noticed that the foreign exchange rate (FX) is also copied and NOT auto updated, even though the date changed. The high risk (of forgetting) workaround is to change the date then change it back to the date you want in order to get QBO to update the FX rate with the relevant rate for the date on the invoice or bill. Is this something that can be updated in QBO??  How do we notify the code writers/ programmers?There is significant impact when reporting P&L Regards,Lee

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What is the best way to record a loan from the Director to the company account? 

the report shows every estimate even the closed ones, my report is too large i don't want to see all quotes in qb. I want to be able to filter by status

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..and different amounts when I upload their receipts (via email) and intuit uses default rate from the purchase date. When there are many such transactions, it's almost impossible to match and tell which one is which

Unticking PDF Attached in SALES FORM TYPE in Customer invoices, results in no PDF being attached to Supplier Remittance emails.  Has anyone else experienced this?  We unticked PDF for customer invoices so we want customers to view the online version of their invoice so we see they viewed the invoice.  However this results in remittance advice for Suppliers not sending.  Surely both modules are completely seperate. 

Many merchant accounts use an account called “reserve” or rolling reserve" account, where they put a certain part of your income to cover chargebacks and refunds. How should i account for this? Normally i would split the arrived settlement into sales and processing fees paid but how should i handle this reserve, to wich account should i make an entry with it?

Hello I've just signed up for the self employed version of QuickBooks.  Last financial year I kept income & expenditure statements in google sheets and have imported the full year.  However, i've noticed that QuickBooks has rounded up my income.  For self-assessment is this ok as I would have thought I would have needed to submit the exact amount e.g. £1,111.11 not £1,112.   Can anyone advise me please? Many thanks Elizabeth

E.g Last JE No 2176, First in Online 1669. I changed manually to 2177, but the next JE starts again at 1669

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I have a problem with our company logo on the remittance form when sending direct from QB the logo is ultra zoomed and cuts off half the page. We have the one logo uploaded and do not have this issue for any other forms we send from QB such as invoices etc. Looks to be a glitch in QB - anyone else have this issue or know how to fix. Have tried to remove and reupload the logo multiple times to no avail. TIA