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Andrew R. Molo, CPA
Registrace 24. 10. 2016
ARMaccounting - Quickbooks Online Solutions
SOLVED!: QBO BILLABLE EXPENSE REPORTING (BILLED AND UNBILLED CHARGES REPORT)
Hey guys! Reporting for Billable charges has been a long outstanding issue in QBO. In this video, You'll learn the work around methods and solutions into generating reports for Billed and Unbilled charges which will make reporting easier and the cleanup process smoother.
Download Google sheet template here: sheetsake.sellfy.store/p/billable-expense-reoporting-system-for-qbo-users/
Download Google sheet template here: sheetsake.sellfy.store/p/billable-expense-reoporting-system-for-qbo-users/
zhlédnutí: 165
Video
QBO RESTAURANT DAILY SALES REPORT: THE ULTIMATE GUIDE
zhlédnutí 10KPřed rokem
Hey guys, It's been a while since I uploaded my last video. Here is a guide on how to enter daily sales transactions from your favorite POS systems into quickbooks online! Please don't forget to like and subscribe. Enjoy!
QBO TUTORIAL-SECURITY DEPOSITS WORK FLOW (LEASING)
zhlédnutí 890Před 2 lety
Hey guys! It's finally out! A guide on how to process Security deposits from moving in to moving out of tenants. Please don't forget to like and subscribe! For shortcuts: Part 1: SETUP ACCOUNTS & ITEM CATEGORY 0:00 Part 2 RECEIVE PAYMENT FOR SECURITY DEPOSIT 2:43 Part 3: CHARGE EXPENSES & DAMAGES TO SECURITY DEPOSIT 6:06 Part 4: REFUND SECURITY DEPOSIT TO TENANT 14:45 Music: Get ready by David ...
QBO TUTORIAL- TRACKING ECOMMERCE INVENTORIES NO THIRD PARTY APPS and JOURNAL ENTRIES.
zhlédnutí 460Před 2 lety
Hey guys! It's been a while since I posted my last video. Glad to be back again, and this time I'm sharing with you an unconventional way of recording and tracking ecommerce inventories in quickbooks online without the use of third party apps and Journal entries. Disclaimers are in the video. Here are the links to the files I used. docs.google.com/spreadsheets/d/1E-EqJvfA-eMkpha3Ibaj0BQdV44qWKE...
QBO-RESTAURANT INVENTORY SETUP EXPLAINED!
zhlédnutí 7KPřed 3 lety
Hi Restaurant owners/bookkeepers. Have you ever run into the issue of managing inventories and cost of goods sold for ingredients? I received a lot of inquiries on this matter for past few months. In this video I will be explaining whether or not tracking ingredients as inventories is a good idea for restaurants. I hope you find this helpful. please leave a comment, like and subscribe.
QUICKBOOKS ONLINE - FULL SETUP FOR RENTAL PROPERTY (Leasing) BUSINESS.
zhlédnutí 19KPřed 3 lety
Hey rental property businesses and future quickbooks online users! Sorry this took a while to finally upload. but here it is! a full setup guide on quickbooks for Rental property businesses. It includes all stages from subscription to enrollment of properties & tenants to automated invoicing, to reports that will help you with your schedule E and other requirements. For your convenience, you ca...
QBO TUTORIALS-WRITE OFF BAD DEBTS WITH SALES TAXES
zhlédnutí 621Před 3 lety
Have you ever had an uncollectible invoice requiring write off? what if the sales tax on such invoice was already paid? how do you write off without affecting sales taxes? Check this out!
QBO TUTORIALS-ADJUSTING SALES TAXES 3 WAYS.
zhlédnutí 254Před 3 lety
Forgot to charge sales taxes on invoice? how do you adjust sales taxes without affecting income? Here is are 3 ways to do that properly in quickbooks online.
QUICKBOOKS ONLINE-BILLABLE EXPENSES TUTORIAL
zhlédnutí 6KPřed 3 lety
Charging clients expenses you incur? you can track these transactions smoothly through quickbook online's billable expense feature. check this out!
QUICKBOOKS ONLINE ADVANCED CATEGORIES: LOCATIONS for PROPERTY RENTAL BUSINESS
zhlédnutí 981Před 3 lety
Property Rental Business? Leasing out apartment or condo units? you can organize your financial records on a per property unit basis with quickbooks online's advance gategorization. check this out!
Quickbooks Online FULL SETUP FOR RESTAURANTS
zhlédnutí 40KPřed 3 lety
Hey Restaurant Owners, struggling on your quickbooks online setup? Here is a full guide that might help you out. if you find this video helpful, please don't forget to like and subscribe! Initial Setup 00:20 Account & settings 2:06 Chart of Accounts 9:43 Products & Services 20:18 Sales taxes 27:30 Custom Reports 29:37 Test run 38:41 Chart of Account import file: docs.google.com/spreadsheets/d/1...
Thank you, very helpful
Hi. I liked your explanation, thank you. But it would make more sense to call the top part of the split-up source and the bottom part, target. Where the money goes should be the target in my opinion.
Hello :) I tried my best to not be too technical with my explanations. but technically, target lines, by its definition are categories used to split a certain amount into multiple classifications for reporting purposes. While source lines usually tell us where funds are being directed to and from. So, the terms I mentioned are slightly modified rather than made up. but thanks for sharing your thoughts.
hey can you upload the chart of account again please
Can I import and set up Chart of accounts based on new POS Z report or Sales report? I switched from Square to Toast, which doesn't integrate. I have been advised to not attempt to use Sales Receipts when recording Sales data for Toast. Very lost and overwhelmed. Bookkeepers too as they quit. Books aren't too bad or unreconciled. Just need direction
Usage Hi Sir Andrew, can we do billable expense if the QB subscription is Online Simple Start?
new files for the Chart of Accounts or Non-Inventory Items? would you update the links?
Good day, What about my billables for the client, I didn't encode it in my expenses, I invoice it directly to the client, will it have a problem with the reports? Thank you, more power
hi. it wont show up on the reports.
Hi Andrew, we would love guidance and advice as we migrate to Quickbooks. How can we get in touch privately?
This is a great video, Thank you so much!! so clearly explained.
hi sir Andrew can i get access for the charts of account and non-inventory file. thanks much
Have you uploaded new files for the Chart of Accounts or Non-Inventory Items yet? If so, would you send me the links?
Great Video Andrew! I use QB Desktop pro. I am getting tired of switching companies each time I need to record something. I own several strip malls and looking to migrate to QB online but do not want to pay for multiple subscriptions (1 for each strip mall or entity). Each time I call QB, they tell me I need 1 subscription per. But this video makes me believe that I can use locations to treat each mall separately. Is that true? Can I filter reporting the same so that my accountant can treat each mall independently?
Thank you! very helpful.
Hey..... how to create Sales Service fee /Charge 8%?
Hello sir. I have a client and im new in real estate property. I have a question po sana vka pwde nyo po ako matulungan? Thank you
Thanks for the tutorial. By the way chart of account file and non-inventory file are no longer exist. Will you be able to upload new files? Or send the new link? Thank you
Thank you for this; it is very helpful. Still trying to figure out how to easily account for credit card fees that are deducted by Toast from our net settlement amount (Toast doesn't include that on the sales report, so I would have to go to a different report to find that number; annoying!). Also, we cash out tips to our servers at the end of the night, and then receive them back (the credit card tips) from Toast in the next day's deposit. Not exactly sure how to account for that; I assume we should record the cash "tipout" payment as an expense and then match it to the "income" amount received when Toast deposits the credit card payment into our bank account? Seems pretty complicated and time consuming...
Short answer - bank clearing account and a tips liability account. I currently do the accounting for 5 restaurants who use Toast. I’d be more then happy to go into more detail if you’re still lost.
@@hss9774 I would love a bit more detail from you. We thought we had all working well with the cash clearing out when the days "invoice" was negative because of cash tip payout but end of month shows all is not well. I think it is the mentioned tip liability that you mention. Appreciate any info. Thank you.
Very timely and relevant. Thanks for sharing this
Thank you for the easy-to-flow tutorial! However, the link to the chart of accounts is missing. Can you provide the link?
I am selling my business to my employee. Can i export all of my accounts and employee info to her QBs but then wipe all the data to start clean for her new beginning and her tax info? Creating her whole chart of accounts seems daunting so I hope there is a way. Thank you!!!
It was very helpful. Thank you!
Hi! When will the files be available? Thank you for this quick and easy tutorial.
Hi. I happened to clear out my drive a year ago and accidentally deleted the files. I am working on an updated tutorial that includes inventory tracking under the two bin system. Its alot fancier thana this the basic concepts and are applicable to restaurants who use stockrooms. Will be uploading very soon.
@@AndrewRMoloCPA thank you! will wait for that tutorial.
pre. ka anu ano mo si engr. pet molo?
Twin brother
@@AndrewRMoloCPA woahh
Hey! thank you for this, seems like the file has been deleted
Yeah, sorry bout that. Will restore them soon I lost the files in my drive a few months ago.
Thank you!!!
how to get this application
You don’t happen to have this in transcript form, do you?
Unfortunately not.
Very Helpful.
Very informative as easy as that
Hi Andrew, What do you do if your POS deposits two amounts for one day? An example would be that it splits the credit cards into two deposits.
On the same account? Or separate
What did you mean by "don't forget to reverse this entry next month"?
GREAT VIDEO . THANK YOU
can you able the doc of the chart of account? link enable
Thank you. For clients that have many small billable expenses, the challenge with this approach I think is that it may results in a ton of little billable expenses invoices. It'd be nice to consolidate them into one clean invoice for the customer.
I agree. Thats why some clients would rather just generate a transaction list and use that as a billing statement breakdown instead of going through the billable expenses one by one. But for smaller businesses, this should do the trick.
Super helpful! Thanks was just thinking about this for a food truck we are building.
I have been searching for a video on this ,thank you so much. Very helpful, much appreciated!
thanks!
Hi Sir Andrew, can we ask how will the check amounting to $36.00 would appear on bank deposit list? We can't see the amount unless we will set first on Sales Receipt as "Deposit to: Undeposited/Payment to Deposit"
Hi, for checks received, you can create a separate account and name it Undeposited checks if you wanna track checks separately from undeposited cash.
If my client is receiving inventory every week, do I need to do an inventory count every week and do the journal entry, for that weeks inventory or just wait til the end of the month and do one journal entry?
I am evaluating moving my restaurant to Square for Restaurants and I use QB Online. I currently have the ability to import directly into QB a journal entry very similar to what you sent up by memorializing in a sales invoice. While this is an excellent example of the manual method of memorializing a daily sales report.....Does Square's accounting import tool connected to Quickbooks not have the ability to automate the exact process you are describing?
It does. But it needs to be mapped correctly. You will still need to learn how to do it manually in order to know exactly how to map the accounts during the integration process
More Videos in QuickBooks Online particularly in Property Rental Company.
I love your content. Very informative.
Its really help full teaching , please guide me, how to set and record expenses in real estate businness
Does anyone think QuickBooks should be used (for sales, accounting, or in general) on any one of MacOS or Windows? (Win 11) Or does it seem identical to you
Just want to ask if in amazon invoices are always the "same number" up to the end???
plz. guide me, how to setup accounts in QBO for start up expenses employees training and salaries, Construction and decoration Expenses of business premises, travel expenses, all these expenses are made before business starts operation, Regards,
I synced the bank account to the quickbooks but i see in most of the cases the entries came in as received deposits instead of spent expense. What should i do please help 😢😢😢???
Really helpful video! I have a questions about gift cards. We use Square to manage the gift cards, and sometimes customers pay with gift cards and sometimes customers buy gift cards. How do we reflect this in our daily sales receipt? We currently have a Gift Card account in quickbooks that tracks sales and redemptions of gift cards
Hi Kevin, it depends on how the gift cards are generated. At the top of my head I can think of two ways. 1. Gift cards are outright expenses, nobody in the company pays for it. In this case create a gift card expense account in the chart of accounts(you can place this under marketing and advertising), link a gift card item to that and use that as a line item (negative sign) on the sales receipt. 2. Gift cards are eventually paid by the management to effectively reimburse the dishes served for free. In this case the same concept as the first one but use an other asset account instead, this will represent the receivable you have from who ever pays for it perhaps the owner of the business. When the owner finally pays for it, just create a journal entry debitting cash and creditting the other asset account used. 3. There is a gift card fund setup. In this case, create a short term liability account. When fund is setup or simply refunded, create a journal entry debitting to cash and creditting to the other liability for gift cards account. When gift cards are consumed by customers, create a gift card item and link to the other current liability account then apply to the sales receipt using the same concept as 1st scenario. Always negative sign. Gift cards are a bit complicated as it is dependent on the the workflow and source of fund. Hope this helps.
Hi, Andrew! You're the only person I've found that details anything about Revel. Thank you! Can you tell me how you account for tips paid out? IE: How that's accounted for in the line items?
Also, The credit card line needs to match what will be deposited to the bank, so any tips need to be added in, correct? Then the offset would be the tips paid out?
Hi, the tips you received that reflects on the Revel reports are target lines, so you need to create a service item, name it Tips, and then link it to an other primary income account named tips as well. Make sure you link it both on the purchase and sale field when creating the item so it appears both in sales and expense transactions. When you dispose tips to the staff or whoever, just create a separate expense transaction and use either the tip item or the tip account. It will net out in the profit and loss.
Thank you for making this video, I am trying to set up QB and this really gave me a clear idea of how to easily do it. Thank you!!!