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Nerd's Guide to the Galaxy
Let’s say you invoice a customer for services and, even though it’s 2023 and there are much faster and more secure ways to pay, your customer pays you with a good old fashioned check!
This means you deposited the check and the funds were credited to your account, and some time later...
And how much gas is in the tank?
Overdrive
You know I have never been a fan of any of the so-called “KPI” (Key Performance Indicator) or “Dashboard” tools out there. They are either very limited or very difficult to use.
But when Trevor Lee...
It’s a good day for a clearing account! Or so the expression goes!
Or doesn’t it?
I created this video many moons ago to make it easy for me when I had to explain The Undeposited Funds account.
But the undeposited funds account was always a bit limiting....
It comes up a lot. A client wants to upgrade from QuickBooks Desktop to QBO. My suggestion is always to start a new, clean company and NOT migrate the data. Some clients like the idea, but the ones who hesitate are usually most hesitant because they want a way to access customer history.
...
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...
I woke up this morning and remembered that a client who recently agreed to pay me for some extra work had never paid me for it. So I looked it up in QuickBooks Online and noted that he had not yet paid the invoice. This was of particular importance to me because I actually don’t want him as...
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...
