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All good, Ma'am. Wish you take yourself on the top and away the main content

How would I record a transaction in which the lawyer pays himself directly from the Trust account and does not transfer money into the main checking account from the Trust account. Because he does this, I'm not sure where I would put the money going out of the trust account. TIA

Thank you for being concise and to the point. I've always done J/E for all the transactions, so seeing it with Invoices and sales receipts is wonderful. Thank you!

Thank you for doing this video

Hi there, I'm trying to clean up the undeposited funds account. However the previous bookeeper did a journal entry which is causing the UDF balance to not match the remaining balance. Also the journal entry did not clear the transactions out. What should be my next step?

Great site to learn

So how can I hire u as a tutor is that possible?

Can you do this when using quick books self employment? I don't get chart of accounts as an option. Thank you!

Excellent video! I’m going to watch this over again a couple more times!

Question: how to record mileage reimbursement as income? My husband has an S Corp and he uses his personal car to travel to work. His employer pays him for the miles accumulated in the month to go to work. This amount is also included on his paycheck. I believe the mileage reimbursement is an accountable plan because it meets all the requirements. Please and thank you in advance. Laritza Ruiz

Thank you for your videos!! They are great :)

Prior to reconciling, how do I fix payments recorded to clients bank account instead of undeposited funds?

Who tracks depreciation of fixed asset? Is it the tax accountants? Then when do I record depreciation? Do I record depreciation when accountants tell me to record?

Hi! Thank you for this video! I have a question regarding 1099s. Since the rent payment is income to the property owner, and not to the property management company, how would I go about issuing a 1099-k for the full/gross rent amount paid? In your example a payment/expense is made to the property owner, but it was after other property expenses were taken out, the net amount. Thank you in advance!

But if you do it this way (which I love cause it’s old school and THAT never fails), then, the sales taxes are not automatic and the sales tax tab I’ll have it without a purpose. Right?

I use Quickbooks Online and I have 2023 where I entered all pymts as undeposited funds. I have customers bank acct linked with QBO so deposits automatically transfer. What is easiest to take care of the undeposited funds. I may have 20 or more invoices on one check per week.

Thank You! 😊

Honestly hard to watch you type!

Does this new account have to be connected to quickbooks? in the video your example has a balance. Do I need to have that in order to categorize an outside payment? Or can I just use the new clearance account without connecting it and without any balance showing?

Hello, Thank you for your videos, they are very helpful. I have a question about reconciliation discrepancy - I have an account I can't move on with reconciling because of the discrepancy due to deleted duplicate transaction (it was intentional) which has been reconciled before deleted. Now my balance is off by the amount of that transaction. Is it ok to use forced Adjusting entry by QBO to help me move on? Would this entry affect the P&L and what should be my steps after the adjusting entry is posted?

My bank automatically shows the cash deposits once they are deposited, since the sale has already been recorded by square, could I just "add" the deposits into my "business checking" or do I need to try and match it with the sale from square

I am very confused about how to enter the cash part on the sales once square app is intergrated. Do I need to make another invoice just for the cash sales part?

Hello Claudia. I'm Demetrius and I'm having trouble finding a solution/s to my challenge. QBO categorized my uncats as income, which they are not. Two things, 1. This prior tax year has already been reconciled. I'm having to go back to correct these uncats, now that I realize that the profit and loss for that year is surely inaccurate. 2. These uncats are mostly returns or credits issued by merchants back into my business checking. There's not a category for that in QBO. How do I correctly categorize these types of transactions, in a reconciled prior tax year?

HI, I am new with the program. If I understand correctly, I can issue an invoice and once I receive the cash, I can add it as "Cash on hand" and once the deposit is ready to be done, I do a transfer from Cash on hand to deposit at the proper bank? Thank yoU!

How do you record a refund of the deposit?

You are the best for this! Thank You!

we couldn't see anything of what you were doing. You should remove your face from the video.

Thank you so much! You explain things so well!

So, if they fixed it ,how does it ends on transfer.? Or is something new? And is un categorized line means you didn’t categorize those items and that why it shows?

Thanks for the video on COA setup. Couldn't remember the parent/sub account structure for these. Ty!

Hi Claudia. I have seen videos where missing transactions are recorded or categorized during reconciliation process. Wouldn't it be more proactive to complete the categorization prior to starting the reconciliation

9:55 notes payable why on the debit side. I get confused all the time. I known debt is a liability but accounting terms increasing debt is a credit. Please help me understand the accounting lingo. Thanks.

Thank you!!

how do I contact you? I need help setting up Toast GL accounts in Toast so I can generate the accounting report from Toast. I am not wanting to integrate with QBO just yet. Thank you. Also, let me know your fee for your time. Thank you.

Hello, my client made a cash deposit in Feb 2024 which includes cash collected from December 2023 up to Feb 13. During that time, those undeposited funds were not deposited to a cash account. fyi, I only just now unreconciled the account back to January 2024 and created a square cash account to properly account for the funds according to your tutorial (hopefully, I understood it correctly). How would I reconcile the 2023 undeposited funds for the Feb 2024 deposit as they are currently checked marked to the Feb 13 deposit? I am so frustrated with Square Cash transactions. Thank you for your tutorials and sharing your experiences and expertise!

Thank you, my Dear sis. But we create the invoice first, before the Cr Memo, am I right?

I use Honeybook as my CRM to send invoice and have them paid. I sync Quickbooks to HoneyBook. Why in Quickbooks I have undeposited Funds in both payment and deposit in the balance sheet? The payment says accounts receivable and the deposit says my company's name.

Help! I did what you said, ckecked the old ones I want to go away, and at bottom I entered the identical amoount as a negative, and for the account I used an equity account I had created. But when I go back to Undeposited Funds, the same old payments are still there????

what about payments on the sales reports that "other" ?

Hi Claudia, I have migrated the data for the Sage 50 to QuickBooks online but imported all the transactions from the previous company. How to make everything zero for the new company?

Hello, my business just started using Square as the main transaction processor for my grocery store. My CPA is having a difficult time getting the data she needs onto Quickbooks. We are not seeing the gross amount from Square reflecting onto our Quickbooks but rather the net amount after the fees are taken out. We are wanting to input the gross amount from Square and split it into categories based on the types of transactions. How would we go about doing this? Any advice helps! Thank you.

🙏Useful as usual 😊

Hi Claudia, I'm dealing with the same issue as in the video. There is $500 in undeposited cash/check that I can't find when I try to match the transaction. I've already confirmed that it was sent to the correct account. Could you please advise?

good lesson love u

hi, wanted to ask what if its the other way around? a payment has been received and its for multiple invoices, i check the bank feed and theres 3 transactions for that one payment and i cant do the find a match option, its not showing up. would really appreciate your help!

HOW DO YOU TRANSFER THE BALANCE AND PROFIT SHEETS / INFO TO YOU QB TO DO YOUR TAXES

Hi I am from Pakistan We like to purchase Quick Book for Our Business Need some guidelines

Could you show how to record the Toast Fees?

Hi Claudia. Thank God I found you and your videos. The Payment to deposit account of my client is ballooning. I have both Deposit and Payment with the same amount. Basically referring to same transaction. The QBO Care told me to edit the Sales Receipt or Payment in the Register and change the account where it should be deposited. So I changed it from Payment to Deposit Accounts to the Bank Account of my client, did I do it right?

Hi Claudia. Thank God I found this video of yours. The Payment to deposit account of my client is ballooning. I have both Deposit and Payment with the same amount. Basically referring to same transaction. The QBO Care told me to edit the Sales Receipt or Payment in the Register and change the account where it should be deposited. So I changed it from Payment to Deposit Accounts to the Bank Account of my client, did I do it right? I'm going insane with this.