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Maxanne Pierce
Title: Bookkeeper
Company: Seacoast Modular Homes, Inc.
(Bookkeeper at Seacoast Modular Homes, Inc.) I need some assistance with an entry for a new vehicle purchase with a vehicle trade-in, including depreciation and removal of the old fixed asset. I have all of my numbers but I am not sure of exactly how to make my entries.
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Anonymous
(Accounting Manager) Anyone willing to share the template they use for balance sheet recons? We are a smallish start up that hasn't done them in the past. I'm hoping someone is willing to share a good template that I can tweak, vs having to create something new from scratch. Thanks!
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Anonymous
(Assistant Accountant) When we buy back US Commercial Paper from investor, using fair value through P&L what will be journal entries for below. - how to account for break fee get charged for the swap (cross currency swap) - How is the interest calculate on the swap at contract break - Is...
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Cristina De Franco
Title: Owner
Company: Global Sur Financial
(Owner at Global Sur Financial) First time QBO user I created three assets to practice the entries for depreciation in QB for my service company. However, I'm not going to need them. Because of the threshold I could simply expense them. How do I delete them? Also, because I had already reconciled, it...
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Anonymous
(Financial Manager) I work for an organization which utilizes Quickbooks (QB) desktop. Expenses are recorded on vouchers, which are sequentially numbered with a stamp. QB is very limited and has fields for a reference number and memo when entering bills. QB does check for duplicates of the...
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Anonymous
(Accountant) We had a sales employee on their own accord, threaten one of our customers that we'd send their debt to a collections agency in the next 7 days, when currently we don't have any intention to do so. I've heard that this is illegal to do, but can't necessarily find any...
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WAIDI KOLAWOLE
Title: PRINCIPAL PARTNER
Company: FAWAIT PROFESSIONAL SERVICES
(PRINCIPAL PARTNER at FAWAIT PROFESSIONAL SERVICES) The company authorized and paid up share capital is N1,000,000 and director current account balance is showing N78,000,000 in the previous year balance sheet. During the year under review, the company increased its share capital to N50,000,000 by creating additional 49,000...
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Anonymous
(Accountant) Came across an interesting issue at work... Had an invoice that was approved in late December 2018, crediting AP and debiting prepaid expenses as it was for Q1 2019. However, it was actually paid (DR AP, CR Cash) in early January. What's the proper entry for something like...
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MAYU Theva
Title: Accountant
Company: Awal
(Accountant at Awal) We are a small budget residence. We have by mistakenly invoiced VAT twice. And the customer (walk in) has also paid for it. How do we have to account that. Room charge - 25 Vat charge (5%) - 1.25 (But we have charged 2.50). Please help on the above. Do we show the excess 1...
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DAVID REITER
Title: Controller
Company: x
(Controller at x) Hello, We are anticipating receiving a payment from New York State for the Excelsior Tax Credit (https://www.tax.ny.gov/pit/credits/excelsior.htm) I assume this would be classified as other income on the P&L. Is that the case?
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Anonymous
(senior accountant) Hello, First of all I would like to thank you for attempting to answer my question. I am thankful for this platform which has helped me with answers related to accounting. I researched a bit prior but haven't seen an answer that "fits" my situation. Question: Insurance...
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Anonymous
(Accountant) We installed wood floors in 2018, but discovered a defect in the wood and had to replace the wood in Jan 2019. I feel that the repair/replacement of product is part of the original 2018 job. Is the 2019 paid repair expense appropriately accrued in 2018? Or should it...
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Crystal DiJoseph
Title: Assistant Controller
Company: Mid-size PE & Property Management Compan..
(Assistant Controller at Mid-size PE & Property Management Compan..) We are looking for a GL system with open API that is capable of doing consolidations and eliminating entries. We have various parents entities that may consolidate up to 30 entities based on partial ownership, all entities are U.S. based. All subs and parents will be on the...
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Anonymous
(Field Technician) Does the commuting limit apply to mileage reimbursement from an employer who has no offices within 100s, if not 1000s of miles away? I do work in the Portland Oregon / Vancouver Washington area. My employer is located in New York and, as far as I know, doesn't have an...
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Brenda Ladd
Title: Admin/Finance Assistant
Company: GracePoint Fellowship
(Admin/Finance Assistant at GracePoint Fellowship) We have a copier lease and they sent us a bill for property tax. I have read another person's similar question on this site but our situation may be different. We do not pay sales or property tax. If we don't pay property tax to the county how can there be a property tax...
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Anonymous
(Accountant) I’m an accountant with 5 years of GL accounting experience in energy industry. I just got my CPA license in Texas, last November. I have been trying to get a job in Tax but things are not going well. I have applied to several tax entry level positions in public...
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Anonymous
(CFO) I just joined a young SaaS startup as head of finance. We have recently signed a few multi-year enterprise contracts. I would like to book the full value of the 3 year contract to deferred revenue, A/R, and A/R Unbilled for the portion not yet billable. Revenues would be...
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Anonymous Member
Anonymous
(IT Director) IT side here, but I'm driving a project that is creating accounting process changes, so I need to be somewhat knowledgeable for my own purposes and I would like to have perspectives and opinions from others outside of who I have immediately available. This company sells...
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Anonymous
(Controller) The companies I have worked for have always been on the receiving end of fees from our customers for doing something incorrectly (wrong pallets, late delivery, ect), but I have never had the opportunity to take a deduction not directly related to the product sold. In the...