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Q&A Forum

What is the best AP software for high volume AP

(VP of Finance & Accounting)
We are in need of setting up hundreds of new vendors every day, cut check and mail them out on the same day. What accounting software would be the best to handle this situation? Tha...
11515 Views | 2 Answers/Comments

How to classify the obligation to pay back funds

(Head of Finance)
We have what in practice is a loan, but the agreement is structured such that the company providing us funding owns our inventory and we are authorized to sell it. Its not a lein, they ...
75 Views | 3 Answers/Comments

Tenant is using their security deposit to pay their rent. I want to show the transfer from security deposit account to rent payment account, and ALSO use that money to pay the invoice for their rent. How?

Cassie Rottink
Title: Project Manager
Company: Big Imprint
(Project Manager at Big Imprint)
23 Views | 2 Answers/Comments

Reasons to Amortize annual insurance amt when paid monthly

(Senior Accountant)
I am trying to wrap my head around the reasoning why our controller posted our insurance in this manner (she retired and I am picking up the pieces). Example: Our liability policy ru...
14 Views | 2 Answers/Comments

How to Account for Implied Interest on a Notes Payable

Ptown Bro
Title: Founder & Owner
Company: AWC
(Founder & Owner at AWC)
Let's say you were given a loan for $400,000, but only received $300,000 in cash. The difference of $100,000 is assumed (or implied) to be interest. There is no interest rate given, no ...
10 Views | 0 Answers/Comments

Unclaimed funds recovery agencies: Are they trustful?

We are receiving calls from several agencies that say they have located a dormant/unclaimed cash asset held in our name and can help us to recover it. And they require to sign an agr...
79505 Views | 8 Answers/Comments

Global Employee Leasing Via An International PEO

Event Questions
Title: Event Questions
Company: Proformative
(Event Questions at Proformative)
  "Would we need to set up a local legal entity to hire locally if we used an international professional employer organization (PEO)?" This question was asked at a ...
2132 Views | 2 Answers/Comments

4/4/5 Quarters in QuickBooks - How do you set fiscal months?

I am the controller of a restaurant group and one of the new restaurants requires quarterly reporting. Our bookkeeping firm uses QB, however, they are telling me this isn't possible...
31700 Views | 7 Answers/Comments

Consolidated Financial Statements and QuickBooks

Any time-saving tips for simplifying the consolidated financial statements reporting process? In terms of just the software piece of it, I feel like we’ve outgrown QuickBooks....
106626 Views | 30 Answers/Comments

Quickbooks Online/Transfer/Journal Entry Question

Erica Becker
Title: Office Administrator
Company: Orion Consult Group
(Office Administrator at Orion Consult Group)
In QBO we have two checking accounts (two separate businesses). Sometimes money is transferred from one account to another that needs to be categorized so it will hit a certain liabilit...
23 Views | 2 Answers/Comments

Estate Tax

Howard Smolin
Title: Accountant
Company: HJS & ASSOC
(Accountant at HJS & ASSOC)
The home of a decedent became an asset of his estate upon his death. His three children are fiduciaries of the estate. If the estate sells the home, does the cost of the home receive a ...
23 Views | 0 Answers/Comments

Accounting Systems for small businesses

Jim McCloskey
Title: Managing Partner
Company: Catapult CFO Partners
(Managing Partner at Catapult CFO Partners)
I see many startups using QuickBooks and QuickBooks Pro vs Premier accounting systems.  The problems with these accounting systems is that they do not have an audit trail.&...
516941 Views | 97 Answers/Comments

Best Accounting Software for Landlords/Property??

Hi there, I am looking for accounting software for landlords as I don't feel the usual suspects like Xero / Sage work. I have seen this company and it seems re...
25 Views | 1 Answers/Comments

Batching inventory management software to Quickbooks

I've been using Quickbooks Enterprise for many years, but a few years ago I started using Connectwise as my main program for customer management, invoicing, and inventory management. Qu...
17 Views | 1 Answers/Comments

How to get started?

Alexis Garland
Title: Owner
Company: AMG Business Resources
(Owner at AMG Business Resources)
I am looking into starting a business/management consulting business. I currently have an MBA and would like to go into business for myself. I wanted to start a bookkeeping firm, but ...
15 Views | 0 Answers/Comments

Best Accounting Software for Landlords/Property??

Hi there, I am looking for accounting software for landlords as I don't feel the usual suspects like Xero / Sage work. I have seen this company and it seems re...
16 Views | 0 Answers/Comments

Do you want to connect your Power BI reports or Power BI model to your Xero data?

Sam Mckay
Title: Owner
Company: Enterprise DNA
(Owner at Enterprise DNA)
Discover how to seamlessly connect your Power BI reports or Power BI model to your Xero data. Level up your Reports with Data Nucleus. Learn more here > ...
14 Views | 0 Answers/Comments

Showroom Display Cost

Shvan Sabir
Title: Operations Officer
Company: Arminas
(Operations Officer at Arminas)
Hello everyone, How could an item from stock that will be used for display in the showroom be entered? The item is not going to be soldable again. Under which account should this appea...
39 Views | 1 Answers/Comments

Recognize free advertising received from a vendor

Mark John
Title: External Reporting
Company: AYZ
(External Reporting at AYZ)
Company A was offered free advertising at no cost. Services are non-transferable. All advertising must be co-branded and approved by Company B. How do you recognize the free advertisin...
36 Views | 1 Answers/Comments

is there a template for capital expense policy someone would share

H Mayo
Title: CFO
Company: TPG
(CFO at TPG)
Trying not to have to re-invent the wheel. Request pertains to RE Mgmt industry but any help would be appreciated
29 Views | 0 Answers/Comments

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