About Rustler

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About Rustler

3rd generation retired military, I ride and wrench on Harleys, and I am stubborn as hell, I work at it until I get it

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Solved Re: Paying a Contractor in Product Instead of Cash

Yes, and you use the 1099-NEC You also need the contrator to fill out and sign a form W-9, downloadable form from the IRS. The W-9 provides you with his tax num...

Rustler

Updated Oct 13, 2023
Solved Re: How to Record Bank Overdraft Protection on QBO

Yes, the bank is loaning you the amount of the overdraft. I would create a liability account for the overdraft loandeposit the bank for the amount and use the l...

Rustler

1

Updated Sep 25, 2023
Re: What is the entry to clear out current portion of long term debt...

If Clear out means to reduce the balance owed, then doing so is income to the business. So a journal entry to debit the liability account and credit Other Incom...

Rustler

Updated Sep 10, 2023
Re: Negative Cash Account with old transactions

QB is perpetual so that negative balance will move forward in the company. It needs to be zero'd out. You can use a journal entry to move that negative amount t...

Rustler

Updated Sep 06, 2023
Re: Credit Card Rewards

Cash back rewards are not income UNTIL, you use them. Then they are income, whether they post to Other income or not is up to you

Rustler

Updated Oct 23, 2023

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