In this guide I want to explore the mechanics of FIFO inventory costing with QuickBooks Online. 

Let’s say you run a store called, “Gotham Tactical Supplies” where among other things, you sell the following products:

• Bat-Gadgets
• Vibranium Shields
• Arc Reactors...

If you're a small business owner, you know how important it is to have your finances in order. QuickBooks Online is a popular accounting software that can help you keep track of your finances. You may already use QBO, but did you know you can also add your accountant to your account?...

Every month, when you reconcile your bank and credit card accounts in QuickBooks Online, there is an important part of the process many people miss.

You’ve just finished confirming everything in your books that cleared the bank or credit card account. 

The temptation is...

Here’s the roadmap for Nerd’s Courses for 2023

Welcome, intro and 97 & Up

First, how is everyone doing? It’s been a crazy few years with lots and lots of changes. 

As I think most of you know I have been at this for a long time now and it’s...

If You Mix Up Personal And Business Expenses In QuickBooks Online

This can go two ways:

• Pay for a business expense with personal means (better)
• Pay for a personal expense with business means (commingling)

The bottom line is that it's bad to commingle personal and business funds.

I hope it never...

If you love this tip,

you're going to love my Google Sheets Deep Dive 
nerdyurl.com/Google-Sheets

One thing I am promising for 2023 is more content on how to keep really good workpapers to support your calculations that are ultimately used in preparing the bookkeeping for...

It happens! It happened to my client not long ago in a galaxy not so far away! He held an event outdoors and collected a bunch of cash for merchandise they sold. They kept good records, but completely forgot to share them with us so we could record everything and pay the sales taxes. And now that...

If you use QuickBooks Online then the question of Class vs Location is bound to come up at some point.

When I am asked by people, which one should I use? My answer is always both!

First let me show you where to go to turn these features on in the QuickBooks Online Settings.

Click the Gear Icon...

This article was inspired by a twitter thread I saw about a CPA who gave advice on how you can deduct your family trip to the Pumpkin Patch.

What happened next was hilarious..

View it on Twitter and check for the hashtag #Pumpkingate:

Say you don’t know how “ordinary and...