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Q&A Forum

Inventory Tracking in QuickBooks

kimberly kelly
Title: Consultant
Company: Metis Partner Solutions LLC
(Consultant at Metis Partner Solutions LLC)
One of my clients is having an issue with QuickBooks Inventory.  They are entering inventory purchases via the "write checks" function and entering the appropriate ite...
24889 Views | 7 Answers/Comments

Quickbooks Enterprise and deferred revenue. A bit confused and need help.

Anonymous
(CFO)
New CFO to a SaaS company and a bit confused about how to have my accountant process these transactions (we are currently using QuickBooks Enterprise). Would some kind soul who uses...
3615 Views | 3 Answers/Comments

Type casted as "Tax Accountant"

Anonymous
(Staff Accountant)
The first job I took out of college and still hold is with a CPA firm in the tax department. 2 years in I realize I really don't like the overtime, constant condescension, and that taxe...
86 Views | 3 Answers/Comments

Need expertise - Looking to Form an LLC in New Mexico and Foreign LLC in Ohio - Getting mixed answers from local accountants

Anonymous
(Owner)
I am looking to do a startup for a new LLC for a services business with most of the revenue earned via my website that is still under development. I reside in Ohio and will have a home...
34 Views | 1 Answers/Comments

How To Raise Money For A Startup?

Anonymous
Besides your own personal network, what is the best way to get investors for a startup? ...
164820 Views | 19 Answers/Comments

Guidance need with company purchase accounting transaction

Anonymous
(Director)
Good day friends, I need some high level guidance with the following situation A private company C Corp was purchased by a PE backed firm. The PE firm fund and management form the ...
14 Views | 0 Answers/Comments

How do you record insurance proceeds from storm damage?

Anonymous
(Controller)
We had a large hail storm where I work that caused damage to the roof of our building, some HVAC equipment and our maintenance shop. We received the insurance check and now I'm trying ...
25 Views | 0 Answers/Comments

Does Payroll report to HR or Finance?

Liz Armstrong
Title: Controller, consulting
Company: Consulting
(Controller, consulting at Consulting)
I'm interested in getting feedback from large employers (over 100 employees) with out-of-state employee and have somewhat complex payroll (lots of deduc...
205834 Views | 46 Answers/Comments

Guidance around travel budget

Anonymous
(Strategic program manager)
Helping the team prepare travel budgets for FY19. Wanted to see if anyone has any average trip costs for domestic / international travel that I could use. Thinking something like: Ai...
59 Views | 0 Answers/Comments

In-Person Training/Classes

Anonymous
(Internal Audit Manager)
Hello, I want to set up some trainings for the accounting department I work in. The CFO and myself are the only two CPA's, so we want to put on basic accounting classes for the group...
127 Views | 6 Answers/Comments

Can somebody recommend a credit card processor company that provide inmates with debit cards upon release from custody

Anonymous
(Buyer III)
Currently my company uses Vantiv. However, the problem we are having is Vantiv is part of a 5/3 bank and can only establish one card per SSN. So if someone is released multiple times, t...
316 Views | 0 Answers/Comments

990 Former Directors

Kathleen Reardon
Title: Controller
Company: South Shore YMCA
(Controller at South Shore YMCA)
we have always reported former Directors from prior years on our 990 even though they are not paid. am I correct in determining they do NOT need to be reported as that have not been pai...
41 Views | 0 Answers/Comments

Setting Up my books for Services rendered this year as tax preparer: Bad Debt not allowed

Cristina De Franco
Title: Owner
Company: Global Sur Financial
(Owner at Global Sur Financial)
I am setting up my books for the first time, and I'm super thrilled to do so, but I have so many questions. 1. Bad Debt or fix invoice amount How do I enter in QBO the fact that a...
43 Views | 1 Answers/Comments

When revaluing assets that are in a Construction in Progess account at year end, does the adjustment have to be booked to the P&L or can an adjustment be made to the value of the asset?

Anonymous
(Consultant)
36 Views | 0 Answers/Comments

donations vs program revenue for non-profit

Kathleen Reardon
Title: Controller
Company: South Shore YMCA
(Controller at South Shore YMCA)
Hi- does anyone know where to find specific guidance on fund-raising events such as 5K races where they pay for the ticket to enroll and may or may not have food provided afterward... w...
43 Views | 0 Answers/Comments

How to account for Intercompany shared expenses?

Anonymous
(Accountant)
If a company shares expenses with its subsidiary, e.g. rental, electricity and water fee. The Parent company pays all these fees and need to recharge to its subsidiary. Which is the mos...
96 Views | 1 Answers/Comments

Is the Escrow on a rental property considered an asset or liability on the balance sheet?

Wende Mutschler
Title: President
Company: Basic Bookkeeping Inc
(President at Basic Bookkeeping Inc)
12131 Views | 8 Answers/Comments

Can I sell a computer to my company.

Anonymous
(Owner)
I am a co-owner of an LLC. I purchased a laptop computer with my personal credit card a few days ago, but since have decided that I want to only use it for my business. I have another l...
54 Views | 1 Answers/Comments

Pain Points with Payroll Cards

Adam Rust
Title: Director
Company: WiseWage
(Director at WiseWage)
I have a question. I'm trying to do research on pain points with using payroll cards. Generally, I'm an advocate for the use of these cards if employers have workers who are unbanked....
1077 Views | 0 Answers/Comments

Need Feedback on Prepaid Payroll Cards

Brittany Peirano
Title: CFO
Company: Artison media & advertising
(CFO at Artison media & advertising)
Hi everyone! I am new to this forum and I am hoping that someone can provide me with some feedback regarding prepaid payroll cards. Today a company contacted me to offer me a prepaid...
3502 Views | 4 Answers/Comments

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