I want ALL the JE content your willing to provide 😂 even with a degree in accounting, I’m terrible at JE. Would also love to see an equity section of a partnership.
Please add-on to this topic, negative retained earnings for both corporations and pass-through entities and how that impacts the value of the business. 🙏
Hi Hanna, do you have a best practice for dealing with the equity of multiple partners? For example, would you prefer splitting out the distributions into separate line items for each partner (Ex: Partner A: Distributions, Partner B: Distributions) along with the allocation of their Retained Earnings to each Partner's separate "capital" account to show each partners total accumulated share of RE? And would this be the same for S-Corps? Thanks!
Great overview of the "Book Value" of the business in a properly accounted Equity section. Could you further expand your analysis to explain the difference of Book Value versus Fair market Value of a business?
Hi Clara, i have a question regarding adding owner to QBO. If i need to categorize owner draw from bank feed can i just leave the box "customer/vendor" blank? Essentially an owner draw we know the owner received a distribution. Advise with your expertise would be appreciated. -Tony
@@ClaraCFO Do you have a video that discusses Opening Balance equity more? I am still confused on what this balance actually is and whether or not it changes year over year. Thank you!
When the owner moves the money for taxes to a personal "taxes only" account, then do I use that account to pay for my quarterly taxes? but the the business records would only show the estimate amount that I transferred out of that account?
I want ALL the JE content your willing to provide 😂 even with a degree in accounting, I’m terrible at JE. Would also love to see an equity section of a partnership.
haha! ok - I will see what I can do. The danger of giving JE content is people posting all sorts of bad JEs to their books :D
Yes to journal entries!
I am seeing a theme!
Please add-on to this topic, negative retained earnings for both corporations and pass-through entities and how that impacts the value of the business. 🙏
Hi Hannah - Thank you for this video... It quickly cleared up the confusion I had about the equity section
I like how clean it looks
Hi Hanna, do you have a best practice for dealing with the equity of multiple partners? For example, would you prefer splitting out the distributions into separate line items for each partner (Ex: Partner A: Distributions, Partner B: Distributions) along with the allocation of their Retained Earnings to each Partner's separate "capital" account to show each partners total accumulated share of RE? And would this be the same for S-Corps? Thanks!
Always love your videos!
I would LOVE JE content!!! This channel is great!
Your skills have the potential to enhance my work significantly.🙂🙏
Great overview of the "Book Value" of the business in a properly accounted Equity section. Could you further expand your analysis to explain the difference of Book Value versus Fair market Value of a business?
Thank you! My book keeper has never closed the equity, and those numbers have been confusing, until now. 🙂
ah ha! I knew that would resonate with some of you! Glad this helps clear things up!
I transferred into QBO from another accounting software. What do you recommend we do with Opening Balances?
Definitely would love content on JE!
thanks for letting me know!
Hi Clara, i have a question regarding adding owner to QBO. If i need to categorize owner draw from bank feed can i just leave the box "customer/vendor" blank? Essentially an owner draw we know the owner received a distribution. Advise with your expertise would be appreciated.
-Tony
Enjoyed the video. Does the opening balance equity ever get rolled into retained earnings? I have had people suggest I do that as a closing entry.
Technically you could, but I like seeing what the business started with. But there's no rule against it!
@@ClaraCFO Do you have a video that discusses Opening Balance equity more? I am still confused on what this balance actually is and whether or not it changes year over year. Thank you!
When the owner moves the money for taxes to a personal "taxes only" account, then do I use that account to pay for my quarterly taxes? but the the business records would only show the estimate amount that I transferred out of that account?
Yes Please do JE video! :)
Yesssss journal entries plz
Yes for journal entries..
Seems like you aren't the only one!
@@ClaraCFO Actually payroll entries with deductions for 401K and Health insurance would be helpfil.
You are incredible great person, thank you very much,❤😊❤😊,very helpful and clear to understand.
wow - thanks for being here! Glad it is helpful!
Journal entries/double entry info please!🙏😊
Sounds like it's happening!
Love your channel!
Aww thanks! I appreciate you being here!
Please do journal entries videos :-). Thank you
I'm a little late seeing this, but I'd be interested in Journal Entries
Your amazing 😊
how can this be done in now, in the event it was never done.
Journal Entries, please!
Noted!
Hi sister I am new to your videos and I would like to start Small business around February 2025, May I please have grab agabtree Book.
Thank you
Yesssss journal entries plz