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Q&A Forum

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...
30176 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....
106450 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...
17 Views | 2 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.&...
515715 Views | 97 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...
11 Views | 1 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)
13 Views | 1 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 > ...
9 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...
37 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...
30 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
25 Views | 0 Answers/Comments

Billing Software

Paul Shapiro
Title: Startup CFO Consultant
Company: Paul G. Shapiro, CPA
(Startup CFO Consultant at Paul G. Shapiro, CPA)
My company sells internet bandwidth and storage for rich media companies, on a recurring revenue model.  There are many exceptions to our standard deal and a lot of unusual...
10942 Views | 8 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 ...
67 Views | 2 Answers/Comments

Is this Legal?

(Accounts Assistant)
I have an amount of £156,400 that will be divided by 12 payments. When £156,400 is divided by 12 it comes out at £13,033.33recurring. But when you times this by 12 it comes out at £...
41 Views | 1 Answers/Comments

Financial Liability IAS 32

Ashan Rashmindra
Title: assistant accountant
Company: Ashan
(assistant accountant at Ashan)
sir, if supplier agreed to get his settlement by taking our shares( fixed number of shares) in 3 months time base on a market price at a future date(variable). is this an equity settle...
33 Views | 0 Answers/Comments

Accrual to cash conversion for multiple years

Hello Everyone,I have a problem I've been trying to figure out for a week now; i'm sure there is an easy answer but i just can't see it.Background:We a small company that keeps financia...
60 Views | 1 Answers/Comments

Fixed Asset / Leased Assets

michael marino
Title: Senior Accountant
Company: Digital Mint
(Senior Accountant at Digital Mint)
My company offers services for ATM Machines where some customers buy the machines outright but we also have agreements where we share on the revenue earned at that location. The agreeme...
40 Views | 1 Answers/Comments

Simple bookkeeping question re reimbursements

Arlene Baker
Title: exe asst/bookkeeper
Company: Creators Equity foundation
(exe asst/bookkeeper at Creators Equity foundation)
Hi. I am a somewhat ignorant bookkeeper in that if something comes through I haven't dealt with before, I don't really know how to handle it. Here is my current scenario. Landlord ag...
66 Views | 1 Answers/Comments

Revenue accounting from App store

Shikha Gupta
Title: Accountant
Company: Wellthon
(Accountant at Wellthon)
HI, question any sales that are happening from Apple Store, how that can be recorded in books? Apple charges 30% as a cut on the selling price charged to the customer and remaining 70%...
73 Views | 1 Answers/Comments

Industry advice

(Senior Accountant)
I am looking for some industry career advice. I worked ~10 years in a software company that started out a small, private firm and was acquired by a large public company after 6 years. I...
40 Views | 0 Answers/Comments

Cost Accounting

I am potentially looking for a field switch from Financial to cost/managerial accounting as it seems there are more opportunities in cost than financial (side bonus starting salaries se...
112 Views | 3 Answers/Comments

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