They purchase their inventory (retail store) with credit cards online.
They have an inventory asset account.
They have a cost of good account.
Where would you post the credit card charge totals?
(I’m used to doing a Purchase order for inventory items, receiving the items, and paying the bill.)
The receiving voucher will create an item receipt in QuickBooks. Select Enter Bills for Received Items and then go to Pay Bills and pay it using the credit card account.
Thank you very much.
You should record donations on sales receipts instead of using Receive Payments. However, it’ll probably be quicker to fix this issue by creating invoices for each donation and then applying the payment to it.
I recommend using Big Red’s Donor Statements add-on for the donation letters:
But it’d probably be easier to just use a sales receipt.
How Troubleshoot a Difference Between the A/R on the Balance Sheet and the A/R Aging Report in QuickBooks
Another related question if you do not mind. I have a difference between The AR on the Balances sheet and the AR aging summary.
What would be the possible causes?
Compare the transactions listed to the A/R Aging Detail report so see what’s causing the difference.
However please let me know how else to do the following transactions.
a) Transfers between AP and AR ( I do it through the transaction clearing a/c by JE)
b) Setting up a wrongful customer deduction. I do not want to do an invoice as it screws up all the customer and sales reporting.
For transfers between A/P and A/R, you should pay the bill using a clearing bank account (A/P) and receive the payment using a clearing bank account (A/R). Once you’re done, the clearing account balance should always be $0.
You should use credit memos for writing off invoices and bill credits for writing off bills. Or just edit the invoice or bill – as long as it’s not dated in a period in which you’ve already filed income or sales taxes in and you file on an accrual basis.
Personally, I use credit memos and bill credits unless I made a mistake on the original invoice or bill because I want to clearly see what happened.
Intuit QuickBooks Payroll
Payroll Update: Revised Tax TablesIntuit has released Payroll Update 21308, with revised tax tables. Several forms updates are included for Standard and Enhanced Payroll customers.
It’s important that you receive everything in the Payroll Update so that you will be in compliance with legislation that affects your payroll. For details on the contents of this update, open QuickBooks, go to Employees > Get Payroll Updates, and click on the Payroll Update Info button.
How do I know I have the Payroll Update?
To make sure that you have received the latest update, open QuickBooks and choose Employees > Get Payroll Updates. You should see a message that says, “You are using tax table version: 21308.”
If you do not have version 21308, click Update. For more detailed instructions, click here.
QuickBooks also provides an automatic updates feature for Payroll Updates. To turn it on, choose Help > Update QuickBooks. On the Options tab, select Yes for Automatic Update. For more information, click here.
Disk delivery customers: The next disk delivery is scheduled for late March 2013. If you have an internet connection, we strongly recommend that you download this update now. Simply follow these instructions to install the update.
People are receiving fake wire email notifications. The different subject lines include:
- “Approved Wire Transfer Notification – Ref: xxx (different numbers)”
- “Pending Wire Transfer Notification – Ref: xxx (different numbers)”
- “Declined Wire Transfer Notification – Ref: xxx (different numbers)”
- “Processed Wire Transfer Notification – Ref: xxx (different numbers)”
- “Terminated Wire Transfer Notification – Ref: (different numbers)”
Below is a copy of the email people are receiving.
Pending Wire Transfer Notification – Ref: 74L5
The following wire transfer has been submitted for approval. Please visit this link to review the transaction details (ref ’74L5′ submitted by user ‘at8-ung’ ).
TRANSACTION SUMMARY: Initiated By: at8-ung Initiated Date & Time: 2013-03-21 5:30:37 AM EST Reference Number: 74L5
For detailed info review it here
This is the end of the fake email.
Steps to Take Now
- Do not click on the link or open the attachment in the email.
- Send a copy of the email to firstname.lastname@example.org.
- Do not forward the email to anyone else.
- Delete the email.
On the Internet, “phishing” refers to criminal activity that attempts to fraudulently obtain sensitive information.
Here’s what you can do to protect yourself from a phishing attack:
- If you suspect you have received a phishing email from Intuit, please forward it immediately to email@example.com. We will look into each reported instance.
- Make sure you subscribe to an anti-virus software and keep it up-to-date.
- Make sure you have updated your web browser to one that includes anti-phishing security features, such as Internet Explorer 7 or Firefox version 3 or higher.
- Make sure that you keep up to date on the latest releases and patches for your operating systems and critical programs. These releases are frequently security related.
- Do not respond to emails asking for account, password, banking, or credit card information.
- Do not open up an attachment that claims to be a software update. We will not send any software updates via email.
- Do not respond to text messages or voicemails that ask you to call a number and enter your account number and pin.
- Make sure you have passwords on your computer and your payroll files.
Here are 3 common methods that phishers use in their emails
- Spoofed email address. Don’t reply to unsolicited email and don’t open email attachments. It’s easy to fake a From or Reply To address, either manually or with spam software, so never assume an email is real by looking at its header. You might be able to spot fake addresses by checking for domain name misspellings, but this isn’t foolproof. Some email service providers combat the problem of spoofed addresses by using authentication techniques to verify a sender’s integrity.
- Fake link. When in doubt, never click on a link in an unsolicited or suspicious email. Scam emails can contain a hidden link to a site that asks you to enter your log on and account information. A clue: if the email threatens you with account closure if you don’t log on soon, you could be the target of phishing. You may be able to tell if a link is real by moving your mouse over it and looking at the bottom of your browser to see the hidden Web address – it will look different than the one you see on the surface.
- Forged Website. If you must visit a financial site, like your bank or credit card company, enter its known address into the browser location field manually. Use a browser with an anti-phishing plug-in or extension, like FireFox version 3 or higher or Internet Explorer 7. These browsers warn you about forged, high-risk sites. Phony Web sites mimic real sites by copying company logos, images, and site designs. Malicious webmasters can also use HTML, Flash or Java Script to mask or change a browser address.
How can I make it to where when I select enter daily sales summary – the one I created with all of the specific line items appears. Is that possible?
If you want to use it over and over again, you should memorize it by selecting the Memorize button (in QuickBooks 2013) or Edit > Memorize Sales Receipt (in older versions). Once it’s memorized, go to Lists > Memorized Transaction List to use it.
Can you tell me how to import them into QuickBooks? I don’t see a designation for that file extension in Utilities. I tried to open it in notepad and it does open in a huge hodgepodge mess between data and computer language.
If you’re using Premier or Enterprise, you could also create assembly items but that’s a little complicated. For more info about how to do it, search QuickBooks Help for assembly items.