QuickBooks Q&A

For example:Client sells R300,000.00 worth of cattle. Then there is commission deducted from the Auctioneer of R30,000.00Accounting wise I need to split this between income which is the R300,000.00 and Commission expense which is R30,000.00. Now what happens is I created a services item for the commission expense and it splits it perfectly between income and expense when I enter the commission amount with a negative value. But on the VAT report it is declaring the net amount of R270,000.00 so I am out with the R30,000, because it isn't splitting it on the VAT report between Input VAT and Output VAT

Hi, I hope someone can assist. My client used FIVERR (US based company) for remote administrative tasks.The advice I received on how to process the VAT is as follows: It is deemed to be an import so there's Output VAT, and how it is calculated is as follows: Add 10% to the amount paid and then calculate VAT at 15%. For example, if client paid $10, when translated to Rands, it's about R200, add 10% and that gives you R220. Multiply R220 by 15% which is R33 which will be Output VAT. The problem comes in when capturing the above transaction in QuickBooks as an expense. If I select standard import in the VAT field, it processes it as Input VAT and not Output VAT. Does anyone have any knowledge on VAT on imported services and how it should be processed in Quickbooks? Thank you.

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how do i get budget V. Actuals by individual location report ? not including all locations ?

I have contacted the QBO support regarding this matter.  It worked for a while, now the customer name is missing again.  I have again cleared cache files and also tried using incognito mode but it does not work now.

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Load additional bank account

Hi. We have a current company in QB who have purchased another company. How would I transfer the details from their Xero to the current QB without throwing out tax etc, so basically, having a history without it affecting the history of current company. 

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I would like to draw up a payslip for my employees

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I have a Accountant profile I dont want to use Quickbooks anymore. I dont have a pending subscription etc. 

Hi, The payment amount for an expense was made from the business account to the employee to make the purchase. The receipt shows the employee's bank account; how do I allocate this expense? Thank youAntoinette

Hi,when I tried to reconcile the bank I got a message saying that my balance was out by €597.96 (Please see Attached) but when I clicked on "we can help you fix it", I get a message saying that "there are no transactions showing for this account in this time period,  if you're filtering transactions they may be hiding" How do I fix this problem?Best Regards,Noel

Why has my activity history been deleted?

Getting error 102

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I want to accurately record CRA income tax payments from my bank register to reflect the type of payment made ie income tax payable, income tax deferred, income tax expense, current assets (tax payments), current liabilities (tax payments) etc but need a better understanding of the types of income tax accounts. Examples, categorize the following:a) Income tax paid in the current fiscal year for the previous fiscal year (Federal income tax expense - "other expense"?)b) Quarterly income tax installments paid in the current fiscal year for the current fiscal year but not due technically until the next fiscal year (deferred taxes- liability or asset? )c) Quarterly income tax installments to be payed/ expected to be payed by the government - scheduled but not yet payed (Taxes payable- liability? Current or Long term? )c) Accountant estimated taxes owed & payed prior to receving the actual CRA NOA actual income tax owedamount (current asset -taxes paid?)d) Income tax payment rebates or r

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I have a credit note on a customer account, the funds were refunded from bank and it was captured as an expense. The account is Nil but I cannot offset the expense against the CN which is now affecting the end balance on the Balance Shet. How do I clear it? It now reflects incorrect balances on accounting reports.

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Hi,I need to migrate my data to QBOI do not have the " Export Company File to QuickBooks Online" option

I've searched on the full list but Discovery bank isn't an option

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