If so, you should utilize double-entry accounting. The system is designed to keep accounts in balance, reduce the possibility of error, and help you produce accurate financial statements. This then gives you and your investors or bank manager a good picture of...
Hello RaeAsh, thanks for posting in the QuickBooks Community about 100 percent VAT transactions. If you are wanting to post directly to the VAT control account, you could do a journal entry. We'd advice speaking with an accountant for direction on how to do that as we are not trained acc...
I’ve used the words blogger and niche site publisher together as blogging evokes images of a journal type blog which is more of a personal online diary. However, to earn money from your blog, you’ll need to treat it as a business from the get go and focus on how to monetize the n...
No more pulling out the checkbook to write checks and then record them for your records. If you use accounting software, you can enter invoice details, the amount due, and the date due, and choose to pay those invoices when the payment is due. You also have a variety of payment options...
Then create a Journal Entry. Your first line will be the Liability account and the amount will go to the Debit side (debits first). The second line will be the temp account and the amount will go to the Credit side. This journal entry will...
4. Enter Adjusting Journal Entries Adjusting entriesrecord items that aren’t noted in daily transactions. These items include accumulation (known as “accrual” in accounting) of real estate taxes or depreciation accrual, which need to be recorded to close the books. Adjusting items are made in...
are applying the Valued Added Tax (VAT) system, tax on shipping is usually taxable. Since the tax on shipping is an integral part of supplier invoice, that amount is entered from the document in the “Input tax” panel. To enter “Tax calculation” it has to be set to “Manual entry...
This is done by calculating depreciation over the useful life of the asset and then posting a depreciation journal entry to your general ledger using the appropriate schedule. Most capital expenditures are depreciated between 3 and 7 years, but fixed as...
If so, you should utilize double-entry accounting. The system is designed to keep accounts in balance, reduce the possibility of error, and help you produce accurate financial statements. This then gives you and your investors or bank manager a good picture of t...
If so, you should utilize double-entry accounting. The system is designed to keep accounts in balance, reduce the possibility of error, and help you produce accurate financial statements. This then gives you and your investors or bank manager a good picture ...