Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Hello all.
It seems that i have put in multiple entries for the same thing for example, when an invoice is paid I haven't always matched it to the invoice and just put paid also when i pay something I'm not sure if i've made it into 2 expenses!
I have 2 problems here. 1 my books are completely wrong, I'm double my normal average earnings and 2 I have been submitting VAT every quarter, which i thought was high but I'm not an accountant that's why I got QuickBooks!
Is there a way to backtrack my transactions for the year and go again ticking it off? The VAT part im going to have to seek an accountants help for it now after i have sorted all of this.
Any advice would be greatly appreciated! :)
Hi BanksFlooring, thanks for your post :)
We'd always recommend having your tax return checked and approved by an accounting expert before submitting this, however, you can fix this by completing a reconciliation (Cog > Reconcile).
This is a process of comparing your bank account in QuickBooks against your real-life bank statement, to make sure you don't have any missing or duplicate entries and to ensure all transactions have been accounted for. Once you've located a duplicate, you can easily click into the transaction from the reconciliation report to view and delete this. If the duplicate transaction was filed with VAT, this will automatically create an exception on your open return to account for this.
Please get back to us below if you have any Q's!
Hello! It is really easy to enter data into Quickbooks incorrectly. Although the adverts make it look like it's a few clicks of a button to do your accounts and VAT return, it really isn't. It is also very easy to account incorrectly for VAT and submit incorrect figures. This can end up costing you a lot of money in unnecessary tax. If you need some help cleaning up your QuickBooks, getting everything reconciled and balanced then please feel free to get in touch with me, I do a lot of QuickBooks cleanups.
Hi Sam
I have QuickBooks on line and have checking account that doesn't belong to QuickBooks. The QuickBooks checking account is a default in my system, I am not using it to make any transactions. However the QuickBooks checking duplicates all of my entries and shows faulty balances. My accountant deleted some of the made-up income by the QuickBooks but didn't fix it permanently.
Are you a CPA?
I am interested in switching my accountant to one who is knowledgeable with the software.
The only reason I switched to QuickBooks on line, from the desktop is because they stopped supporting credit cards and bank deposits in the desktop version. Since 70% of my customers payments are on line I didn't have much choice.
I am very frustrated with the poor quality software and the technical support is a joke.
Please let me know.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.