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Accounting with QuickBooks
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Добавлен 8 окт 2023
QuickBooks Cleanup Expert sharing tips on QuickBooks online and Desktop. On this channel, you will get clear, To the point videos for accounting in QuickBooks.
QuickBooks Cleanup expert I Chief Problem Solver I Fractional Controller I We cleanup QuickBooks files that others are scared of touching!!
Services we provide...
QuickBooks Healthcheck
QuickBooks Cleanup
Bookkeeping
Controller services
Business Processes Streamlining.
Get 30% off of QB Online...
quickbooks.intuit.com/partners/irp/?cid=irp-7289
To schedule a free initial consultation to discuss your QuickBooks issues, please use the link below..
calendly.com/ploomba/30-minute-discovery-call-youtube
QuickBooks Cleanup expert I Chief Problem Solver I Fractional Controller I We cleanup QuickBooks files that others are scared of touching!!
Services we provide...
QuickBooks Healthcheck
QuickBooks Cleanup
Bookkeeping
Controller services
Business Processes Streamlining.
Get 30% off of QB Online...
quickbooks.intuit.com/partners/irp/?cid=irp-7289
To schedule a free initial consultation to discuss your QuickBooks issues, please use the link below..
calendly.com/ploomba/30-minute-discovery-call-youtube
QuickBooks Online 2024 Bank Rules: Automate your Bookkeeping! QBO
Master QuickBooks Online 2024 with this detailed tutorial on setting up and using Bank Rules to streamline your bookkeeping process. Please visit my website to get more information: placcountingsolutions.com/
In this video, you'll learn how to create, edit, and manage Bank Rules to save hours on transaction categorization. Perfect for anyone looking to make QuickBooks Online work smarter, not harder. Remember to subscribe for more QuickBooks Online tips and tricks, and leave your questions in the comments!
✅ Timestamps:
0:00 - Introduction
0:18 - Subscribe
0:25 - What are Bank Rules
0:48 - First way to create Bank Rules
2:24 - Important Tip!
3:11 - Second way to create Bank Rules
4:22 - Create a ...
In this video, you'll learn how to create, edit, and manage Bank Rules to save hours on transaction categorization. Perfect for anyone looking to make QuickBooks Online work smarter, not harder. Remember to subscribe for more QuickBooks Online tips and tricks, and leave your questions in the comments!
✅ Timestamps:
0:00 - Introduction
0:18 - Subscribe
0:25 - What are Bank Rules
0:48 - First way to create Bank Rules
2:24 - Important Tip!
3:11 - Second way to create Bank Rules
4:22 - Create a ...
Просмотров: 86
Видео
How To Record Restaurant Sales In QuickBooks Online 2024 | QuickBooks I Intuit
Просмотров 344Месяц назад
Want to record your restaurant's daily sales accurately in QuickBooks Online? This video is perfect for you! Please visit my website to get more information: placcountingsolutions.com/ Learn how to set up accounts, record sales entries, and manage deposits using QuickBooks Online 2024. Whether you're running a restaurant or any other business, these methods will ensure your sales records are pr...
How To Manage Bookkeeping With Bank Feeds In QuickBooks Online 2024 | QuickBooks I Intuit
Просмотров 180Месяц назад
Learn how to use bank feeds for efficient bookkeeping in QuickBooks Online 2024! Please visit my website to get more information: placcountingsolutions.com/ This video covers everything from setting up accounts to managing transactions and reconciling your accounts. Follow along to streamline your bookkeeping process and ensure accuracy in your records. In this tutorial, we cover: Setting up ba...
How To Record Fixed Asset Sales In QuickBooks Online 2024 | QuickBooks I Intuit
Просмотров 160Месяц назад
Learn how to record the sale of fixed assets accurately in QuickBooks Online 2024! Please visit my website to get more information: placcountingsolutions.com/ This video guides you through the entire process, from reviewing your balance sheet to making the necessary journal entries. Follow along to ensure your records are precise and compliant. In this tutorial, we cover: Reviewing assets on th...
Download Transactions from Chase and Upload them into QuickBooks Online (QBO) 2024
Просмотров 129Месяц назад
Learn how to download transactions from Chase and easily upload them into QuickBooks Online (QBO) in 2024. Simplify your accounting process with this step-by-step tutorial! This is for people who do not want to sync their bank/cc account to QBO but still want to enjoy Bank Feeds functionality and/or who are not able to connect the accounts with QBO. Timestamps: 0:00 - Introduction 0:11 - Downlo...
Download Transactions from Amex and Upload into QuickBooks Online (QBO) 2024
Просмотров 102Месяц назад
Learn how to download transactions from Amex and easily upload them into QuickBooks Online (QBO) in 2024. Simplify your accounting process with this step-by-step tutorial! This is for people who do not want to sync their bank/cc account to QBO but still want to enjoy Bank Feeds functionality and/or who are not able to connect the accounts with QBO. Timestamps: 0:00 - Introduction 0:10- How to d...
How To Handle Line Of Credit In QuickBooks Online 2024 | QuickBooks I Intuit
Просмотров 380Месяц назад
Learn how to set up and record transactions for a line of credit account in QuickBooks Online 2024! Please visit my website to get more information: placcountingsolutions.com/ This tutorial will guide you through the entire process, from setting up the account to recording advances, interest, and payments. Follow along for accurate and efficient accounting. In this tutorial, we cover: Setting u...
How To Record ATM Withdrawals And Petty Cash In QuickBooks Online 2024 | QuickBooks I Intuit
Просмотров 272Месяц назад
Learn how to record ATM withdrawals and petty cash expenses in QuickBooks Online 2024! Please visit my website to get more information: placcountingsolutions.com/ This easy-to-follow tutorial covers everything you need to know to manage your finances accurately and efficiently. Whether you're recording withdrawals with or without fees or managing petty cash expenses, this video covers you. In t...
How To Use Bank Feeds In QuickBooks Online 2024 Step-By-Step | QuickBooks I Intuit
Просмотров 1662 месяца назад
How To Use Bank Feeds In QuickBooks Online 2024 Step-By-Step | QuickBooks I Intuit
Law Firm Trust Fund Accounting Tips In QuickBooks Online 2024 | QuickBooks I Intuit
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How To Manage Law Firm Retainers In QuickBooks: Advanced Accounting Guide | QuickBooks I Intuit
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How To Manage Law Firm Retainers In QuickBooks: Advanced Accounting Guide | QuickBooks I Intuit
QuickBooks Online For Law Firms: Account For Retainers And Trust Funds | QuickBooks I Intuit
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How to Account for Law Firm Retainers/Trust Funds - Part 1 (2024)
Просмотров 1544 месяца назад
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Properly Enter Prepaid Expenses In QuickBooks Online - 2024 Tutorial | QuickBooks I Intuit
Просмотров 9065 месяцев назад
Properly Enter Prepaid Expenses In QuickBooks Online - 2024 Tutorial | QuickBooks I Intuit
How To Enter Accrued Expenses In QuickBooks Online Tutorial | QuickBooks I Intuit
Просмотров 1,3 тыс.5 месяцев назад
How To Enter Accrued Expenses In QuickBooks Online Tutorial | QuickBooks I Intuit
How To Enter A Bounced Check In QuickBooks Online - Step-By-Step Guide | QuickBooks I Intuit
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How To Enter A Bounced Check In QuickBooks Online - Step-By-Step Guide | QuickBooks I Intuit
How To Handle Customer Overpayments In QuickBooks Online Step-By-Step Guide | QuickBooks I Intuit
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How To Handle Customer Overpayments In QuickBooks Online Step-By-Step Guide | QuickBooks I Intuit
Why Your QuickBooks Bank Balance Doesn't Match Profit - Easy Fix | QuickBooks I Intuit
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Why Your QuickBooks Bank Balance Doesn't Match Profit - Easy Fix | QuickBooks I Intuit
Create Custom Fields In QuickBooks Online - Enhance Your Reports | QuickBooks I Intuit
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Create Custom Fields In QuickBooks Online - Enhance Your Reports | QuickBooks I Intuit
QuickBooks Online: Easy Intercompany Transactions Tutorial | QuickBooks I Intuit
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QuickBooks Online: Easy Intercompany Transactions Tutorial | QuickBooks I Intuit
QuickBooks Online: Recording Business Expenses Paid Personally | QuickBooks I Intuit
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QuickBooks Online: Recording Business Expenses Paid Personally | QuickBooks I Intuit
How To Convert Expenses To Bill Payments In QuickBooks - A/P Cleanup Guide | QuickBooks I Intuit
Просмотров 2399 месяцев назад
How To Convert Expenses To Bill Payments In QuickBooks - A/P Cleanup Guide | QuickBooks I Intuit
How To Enter And Match Bill Payments In QuickBooks Online - Easy Guide! | QuickBooks I Intuit
Просмотров 1709 месяцев назад
How To Enter And Match Bill Payments In QuickBooks Online - Easy Guide! | QuickBooks I Intuit
How to Enter or create a vendor bill in QuickBooks Online
Просмотров 1969 месяцев назад
How to Enter or create a vendor bill in QuickBooks Online
How To Record Payments In QuickBooks Online - Simple Tutorial! | QuickBooks I Intuit
Просмотров 50110 месяцев назад
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How to create or add a credit memo in QuickBooks online
Просмотров 27310 месяцев назад
How to create or add a credit memo in QuickBooks online
Create Invoices Like a Pro in QuickBooks Online
Просмотров 19010 месяцев назад
Create Invoices Like a Pro in QuickBooks Online
QB Online Secrets: How to Easily Add Customers
Просмотров 20910 месяцев назад
QB Online Secrets: How to Easily Add Customers
QuickBooks Online: How To Easily Connect Your Bank Account | QuickBooks I Intuit
Просмотров 38910 месяцев назад
QuickBooks Online: How To Easily Connect Your Bank Account | QuickBooks I Intuit
Maximize Your Accounting Workflow: From Purchase Order to Bill in QuickBooks Online
Просмотров 27710 месяцев назад
Maximize Your Accounting Workflow: From Purchase Order to Bill in QuickBooks Online
A careful rules setting makes life easy but if overlooked could cause huge mess
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Hi Pooja. I have a HELOC that's tied to my property, which I use to pay bills/utilities out of. It's a line of credit that I use as a bank account, so there's no transfer to a checking account; I just pay bills directly out of the HELOC. Would I use the same setup steps in this video for my HELOC, or would I need to set it up a different way in QBO? Thanks in advance. :)
Hi, in case of HELOC being used as a bank account, set it up in QB as a Bank type Account. I am assuming income is being deposited directly into this account?
@@placcountingsolutions So, while I can’t do direct-deposit into the HELOC, I do make regular transfers into the HELOC from my checking account. How would I properly record interest charged/accrued on my HELOC if I’m setting it up as a bank account?
Ok so seems like you are using it as a credit card and incurring interest expense like you would on credit card purchases. In this case, only change from the video you would make is set it up as a credit card type account and rest of the process stays same. This way you can record expenses directly out of Credit card. When it comes to interest expense - use an expense type Transaction to record interest to this credit card account. Hope this explains :)
So sweet
Subscribed, love this channel so glad I found you. Can you please go over a full month tutorial of how to do bookkeeping for a client? Thanks
Hi, glad you found the videos helpful! Check out this video for full bookkeeping - How To Manage Bookkeeping With Bank Feeds In QuickBooks Online 2024 | QuickBooks I Intuit ruclips.net/video/INLa8KiCXW4/видео.html
This playlist should be all you need … QBO Bank Rules and Feeds ruclips.net/p/PLSc3R8rtynJpGNIu4-zMU-SR1MEpdm9nY
Hi, I am thankful for such informative video, Can you please explain why Sales receipts should be zero balance?
Please upload a complete turtorial on Bookkeeping for e-commerce store.
Please use this video - same process for Ecomm sales - How To Record Restaurant Sales In QuickBooks Online 2024 | QuickBooks I Intuit ruclips.net/video/1gBYDQnzG5M/видео.html
@@placcountingsolutions Thank you
@@placcountingsolutions Ma'am could you please upload any turtorial related to bookkeeping of hospitality industry?
Excellent! Thank you
Very welcome! glad you found it helpful. Please do subscribe if you haven’t yet :)
Hello nice video my dear
The balance sheet lists all the current assets, including Inventory and A/R under the Current Assets. How to classify the bank accounts under sub-type in the balance sheet (Cash and cash equivalents - or Bank)? inventory as well. Please advise
Should be under Bank Accounts
Good discussion ❤❤❤
Good discussion ❤❤❤
hello❤❤
Good ❤❤❤
Good ❤❤❤
thank you very much for your effort !! a small doubt food discounts aren't expenses ?
Very welcome :) No, discounts are reduction of income just shown separately as a negative number.
@@placcountingsolutions yes got it 👍👍
Welcome 😊 friends
Thank you!! I am taking a QuickBooks course in college, right now, and your video was EXACTLY the information I needed!! I notice that your video was made only 2 weeks ago, as well. THANK YOU for making such a useful video!!
You are very welcome :) I am glad you found the video useful! Do comment for more video suggestions and good luck with QuickBooks Course 👍
Nice 👍 explained frnd
Thanks for watching!
Thank you so much ❤❤❤
Best explanation.
Glad that you liked it! Comment for more video suggestions!
Good job❤❤❤
Thanks!
Good Discussion ❤❤❤
Thanks!
Thanks ❤❤❤
Very welcome :)
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Very good ❤❤
Thanks for watching!
@@placcountingsolutions want to More video.
Very good discussion ❤❤
Thanks!
Thanks for recording this video and tagging me. I'll revisit once my CPA gets back to me on a few depreciation schedule questions. I've subscribed!
Great! Thanks for the video suggestion
Thank you. This was helpful. I saw your other video on adding a purchase of a fixed asset. How do I record the sale of a fixed asset in QBO? I sold prior fixed asset prior to completing the 5 yr. depreciation schedule. Can you please comment here, then create a video later or point me to the video if I overlooked it.
Hello Chris, glad you found it helpful! Here is the answer to your question (yes will make the video on this as well) Sale of Fixed Asset will be recorded as follows... Assuming Fixed Asset Cost was $10K and its been depreciated for $7500 in Books. Additional Dep up to date of sale - $500 (which is to be recorded in books). Now you sell it for $4k. Step 1 - Record the remaining dep of $500 in the books using the method in this video. Step 2 - Dr. Cash/Bank - $4000 Dr. A/D - $8000 Cr. Fixed Asset - Cost - $10000 Cr. Gain/Loss on Sale of F/A - $2000 (Plug) Note - This will be other income type account and this account will be debited in case you had a loss on sale - e.g. if you had sold this asset for $1k Hope this helps! Do subscribe to the channel :)
Here is the video just in case … How to Record the Sale of Fixed Assets in QuickBooks Online (QBO) 2024 ruclips.net/video/VNI4rgs61-w/видео.html
Well practically explained
Hi pooja ! can you do a video about how to set up an QuickBooks account for Restaurant business. specially about how to record daily sales!! thank you
Hi! Will be uploading the video this Thursday. Thanks
Here is the video - ruclips.net/video/1gBYDQnzG5M/видео.html
Thanks very super helpful
Very welcome! Glad you found it helpful :)
Excellent
Thanks!
Very helpful. Thank you for sharing
Welcome! Glad you found it helpful :)
Good information about Atm and petty cash
Thank you! Glad you are finding it useful!
Good work ...keep it up
Thank you! Do subscribe to the channel :)
Thanks for the series. They have been very helpful. Have you found a way to show trust fund balances on the QBO invoices, other than in the message area?
Hi! Glad to hear it was helpful :) Actually this is not possible in QuickBooks. You have to either manually put it on the invoice or attach a report to the invoice that shows trust balance. Do subscribe to the channel if you haven’t yet :)
Hello. Would this be the same procedure for a vehicle lease purchase?
Hi, for Vehicle purchase, yes. For lease - no. In case of leased vehicles - you would enter lease payments as expense as you incur them. Down payment will be expensed as well.
Thank you for the video. It helped a lot. But I have a question. After the journal entry from company B, can I apply this journal entry to open insurance bill in company B's QB? I am currently in the same situation as the video but there is an insurance bill open in company B. Company A paid company B's May insurance and the bill in the company B's QB is open.
Hi! Great question! Thank you for pointing it out. If there is an open bill in Company B, then instead of debiting Insurance expense in JE in Company B, you would debit Accounts Payable and enter vendor name in "Name" field. Once JE has been saved, you will go to the bill that was open in company B (and was paid by Company A), click on mark as paid, offset the bill with JE you just recorded. This will create a Zero transaction and will mark the bill paid in Company B. Hope this answers your question :)
@@placcountingsolutions Great! Thank you so much. I just tried it. So I see the bill is closed with JE but it also generated bill payment(Check) with $0. Is it okay to just leave it? I'm wondering if I did something wrong..
Very welcome :) yes please leave the zero txn as that’s the txn connecting bill and JE. Also do subscribe if you haven’t already! Thank you
@@placcountingsolutions Will do. Thank you so much!! :)
Happy accounting 😊
Thank you!!!!
You're welcome! please subscribe to the channel if you haven’t already :)
@@placcountingsolutions I did subscribe. I watched / clicked on about 5 other videos on how to do a bounced check. I couldn't figure it out until I saw your video. Very well presented and explained. I'm so glad I found your channel. Have a great day.
So glad you found it helpful! Have a great day!
Thanks
Very welcome :) Do subscribe to the channel if you haven’t yet.
Thanks
Glad you found it helpful!
Not clear about the reversal thing. Though you can just debit the accrued liability and credit bank ; your accrued will be zero in jan 2024 start when you pay off liability. Still thanks for explaining. 😊
Hi! Will explain... There are two ways of dealing with accrued expenses. 1. The way I explained that accrued expenses get reversed in following period and then you book the expense normally as if it was never accrued for. 2. The way you mentioned that we keep the accrual as a liability and when payment is made in following period, you would debit that liability account and credit cash. Both are perfectly fine! One benefit with the first one is that you don’t have to memorize or review accrued expense report to see if certain expense has been accrued or not to see which account to debit. Since accrual has been reversed already, you can post the entry normally to an expense account. But again, you can do it your way too :)
I didn't get the end.
Purpose of the journal entry is to recognize the prepaid expenses as actual expenses in the correct period. If insurance expense was paid for 12 months, then we post it to prepaid expense and every month we move 1/12th of it to actual expense account. I mentioned Balance sheet and P&L because Prepaid expenses sit as assets on balance sheet and with the journal entry they are recognized as expense and brought into P&L every month. Hope this helps. If not, please feel free to email me and I can further explain - Info@placcountingsolutions.com
Where was your Depreciation Expense account located? Will that expense account show up in the profit and loss statement?
Depreciation expense is considered an operating expense and yes it shows up on profit and loss statement.
@@placcountingsolutions Thank you.
Very welcome :)
hi (my recurring entry template is not saving (it says, The recurring start date can’t be before today.) please help
Hello, yes, the recurring dates can only be in future. QB won’t make recurring entries in past.
Great video. Thank you for uploading it. However, why do we need to reverse the accrued exp next month? Accrued exp is a liability account and it is a permanent account, right? Once we record the expense in 2023, then in 2024 we just need to pay the cash by debiting Accrued exp and crediting cash. I am confused of this reversal entry. Could you please help me with this?
Thank you! So let me explain :) There are two ways of dealing with accrued expenses. 1. The way I explained that accrued expenses get reversed in following period and then you book the expense normally as if it was never accrued for. 2. The way you mentioned that we keep the accrual as a liability and when payment is made in following period, you would debit that liability account and credit cash. Both are perfectly fine! One benefit with the first one is that you don’t have to memorize or review accrued expense report to see if certain expense has been accrued or not to see which account to debit. Since accrual has been reversed already, you can post the entry normally to an expense account. But again, you can do it your way too :)
@@placcountingsolutions Right. Now I get it. Thank you very much for the explanation.
Very welcome !Do subscribe to my channel if you haven't already :)
@@placcountingsolutions Subscribed.
Keep going
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WHAT??!! That was super fast!! Where do you get the Depreciate amount from?
Amounts you would get from depreciation schedule in your tax return OR you would calculate in an excel schedule and then post the entry here with that amount. Calculations are beyond the scope of this video. Hope this helps :)
Thanks for the video!
You're welcome!
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