I am using the Quickbooks online trial version with plans to upgrade when the trial expires. I am also new to the Automobile Service business and having issues with categorizing expenses and product & services.
My question is firstly, will the Trial version be carried over to the upgraded version or can I start all over after trial since it was practice for me?
Secondly, How do you categorize Tools like a Impact drill costing $200 as oppose to a impact wrench costing over $400 ?
Thirdly, How do I categorize a used vehicle purchase for the business?
Fourthly, Is the start up money for the business different from the beginning balance in the account from sales? (I don't have an external bank account as yet only in quickbooks set up as Undeposited funds and from that undeposited funds I put funds into Petty Cash for expenses.
Thank you for your assistance.
