Reports & Accounting

My wife and I started a new incorporated business in August 2018.  I do the bookkeeping with Quickbooks Pro Desktop. In the first year, I made a rookie mistake and entered funds that we personally provided and the money loaned by the bank as simple deposits.  In June, as I was preparing the bookkeeping records for our accountant, I deleted these deposits and recorded them as General Journal Entries (Debiting our bank account and crediting either a Shareholder Loan or the Bank Loan). Unfortunately, this has resulted in a significant Discrepency in the beginning balance for reconciliation of our business bank account. Many thanks, in advance, for your guidance as to how I should handle the bank balance discrepancy!

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Hello - I'm trying to figure out a way to determine how much I'm invoicing (NOT being paid, but billing OUT) each month for various products.  I am in a small office where billings for different providers are listed as different "products" in QBO, and I want to be able to see at a glance who is billing out how much, for each month.  Can anyone help with this? Larissa

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If I enter the expenses as ITEMS then they post correctly to the income account, however there are other issues with items which prevents me from using them. If I enter the costs as EXPENSES then they offset the COGS account instead of posting as income.  How can I make income from billed COGS post correctly to the income account instead of offsetting the COGS account? Gross Margin and Net Income are accurate on a P&L but COGS represents the vast majority of our costs so it's frustrating that Total Revenue and COGS are so wildly inaccurate.  QB support have not been able to resolve.

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The person before I was hired didn't know a lot about Quickbooks.  Instead of matching or excluding downloaded transactions from the bank and credit card accounts, everything was pretty much added.  Now our general ledger is FULL of duplicate transactions / entries.  How can I undo all the reconciliations and get rid of the duplicate entries, or am I better to just delete it all and start over... I really don't want to start over but we need it fixed   

I have staff entering the class on their timesheets, but that isn't being pulled into the P&L by class. Why on earth would Class show up on the time sheet, but then not be used for the reports? Just to give us a warm fuzzy feeling? I spent well over 20 hours getting this customer's file set up in QBO, but I'm going to need to keep him in Desktop because this doesn't work. Very upset right now.

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Profit and Loss show $134,000 and Sales by product show $7700.

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Hello, 1. How does one produce a Expense Summary aligned with the categories need for Tax Filing. I am using Quickbook Online Easy Start. 2. Is there an integration with Turbo Tax so one can link the two in a way that changes made in quickbook are brought into the Turbo Tax till numbers are finalized and taxes filed. Can someone from Quickbook respond to this. And provide Training resources for this. Thanks.

Hi.I’m cleaning my products list for repeated and mistyped products. However, there are some invoices that contain the old version of those products and I only notice once someone else sees that an invoice has a deleted product and freaks out. I have to manually change the products to fix it, but I want to be able to find those invoices before my colleagues do and fix them before they notice the change in the product.Can this report be done? Or how would you work around the issue?Thanks

Can someone tell me how to change the name field on reports back to the payee when a job code has been used?

Hi everyone! I am wondering about this point: I use the QB2020 Desktop version, and can my accountant use it even though he has the Accountant online version? Would it work? Or does he have to have the desktop version too... Thank you!

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