Andrew R. Molo, CPA

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@skipyyxD 18 күн бұрын

Shouldn't the JE debit and credit $336? So that the Cost of Sales ending balance would be $579. And not the other way around?

@jilldunsford5732 21 күн бұрын

awesome video and custom spreadsheet! thanks! question, have you found a work around to compare which expenses are billable and which expenses aren't billable per customer?

@jilldunsford5732 21 күн бұрын

if I do the trx list by date, and filter for expenses/checks and billable expense charge, and then group by DATE and have the range to last month, it groups all expenses/checks and billable charges by day, so then you can see if the expense was recognized and if a billable charge was also created that same day, not a perfect work around as lots of other expenses come up and vendor isn't an option and neither is COGS accounts, I could use locations and put COGS and only included expenses with that location, but then that's one more thing to remember to do, so not really a great solution either..

@PsalmsGod Ай бұрын

Hello thanks

@RogerWalker-z7c Ай бұрын

Do you have a Chart of Accounts for restaurants?

@paultell949 Ай бұрын

What about the fixed assets? Building, equipment, etc...and how to calculate per plate sales and profitability?

@simoneisaac8580 2 ай бұрын

is Cost of Sales the same as Cost of Goods Sold?

@AndrewRMoloCPA Ай бұрын

technically yes. cost of goods sold specifies that it is a sale of goods. while the other is generic.

@Kwanine 2 ай бұрын

Thank you! But how would you do this if we also have sales from Doordash and Ubereats. Sales from credit cards are deposited daily but sales from doordash and ubereats are deposited weekly. We use toast. Thanks again!

@barbmummey5467 2 ай бұрын

Very helpful video. Your spreadsheet is clever. You are really generous to make it available to us, but unfortunately, link didn't work.

@AndrewRMoloCPA 2 ай бұрын

Hi I just updated the link. feel free to create a copy of the file.

@AnjalaNazreelIbrahim 4 ай бұрын

Thank you, very helpful

@naganha3873 4 ай бұрын

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.

@AndrewRMoloCPA 4 ай бұрын

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.

@PASTABOXPR 4 ай бұрын

hey can you upload the chart of account again please

@Perksdowntown 5 ай бұрын

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

@mariazusetteagcopra9880 6 ай бұрын

Usage Hi Sir Andrew, can we do billable expense if the QB subscription is Online Simple Start?

@portyvibez4077 6 ай бұрын

new files for the Chart of Accounts or Non-Inventory Items? would you update the links?

@ajymercado1849 6 ай бұрын

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

@AndrewRMoloCPA 6 ай бұрын

hi. it wont show up on the reports.

@kittymarfori2691 6 ай бұрын

Hi Andrew, we would love guidance and advice as we migrate to Quickbooks. How can we get in touch privately?

@PoonamJeewan 6 ай бұрын

This is a great video, Thank you so much!! so clearly explained.

@anetlansang9317 7 ай бұрын

hi sir Andrew can i get access for the charts of account and non-inventory file. thanks much

@caseydebord1102 8 ай бұрын

Have you uploaded new files for the Chart of Accounts or Non-Inventory Items yet? If so, would you send me the links?

@MikeHoubba 8 ай бұрын

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?

@josefinanavarro431 9 ай бұрын

Thank you! very helpful.

@lalutahsin9119 9 ай бұрын

Hey..... how to create Sales Service fee /Charge 8%?

@sabrinatuazon2131 9 ай бұрын

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

@rotchanahirshberg6341 9 ай бұрын

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

@carolhpratt 9 ай бұрын

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...

@hss9774 6 ай бұрын

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.

@JenBooking 6 ай бұрын

@@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.

@mariazusetteagcopra9880 10 ай бұрын

Very timely and relevant. Thanks for sharing this

@Akidan-he8yw 10 ай бұрын

Thank you for the easy-to-flow tutorial! However, the link to the chart of accounts is missing. Can you provide the link?

@bajajudy8003 10 ай бұрын

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!!!

@The-Adventurous 10 ай бұрын

It was very helpful. Thank you!

@marydelnicole7528 10 ай бұрын

Hi! When will the files be available? Thank you for this quick and easy tutorial.

@AndrewRMoloCPA 10 ай бұрын

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.

@marydelnicole7528 10 ай бұрын

@@AndrewRMoloCPA thank you! will wait for that tutorial.

@marcfebra6042 Жыл бұрын

pre. ka anu ano mo si engr. pet molo?

@AndrewRMoloCPA Жыл бұрын

Twin brother

@marcfebra6042 Жыл бұрын

@@AndrewRMoloCPA woahh

@vishalshah7628 Жыл бұрын

Hey! thank you for this, seems like the file has been deleted

@AndrewRMoloCPA Жыл бұрын

Yeah, sorry bout that. Will restore them soon I lost the files in my drive a few months ago.

@nuclearpeppers Жыл бұрын

Thank you!!!

@praveentheddu9151 Жыл бұрын

how to get this application

@Lljonesinhsv Жыл бұрын

You don’t happen to have this in transcript form, do you?

@AndrewRMoloCPA Жыл бұрын

Unfortunately not.

@SarabjitSingh-w8b Жыл бұрын

Very Helpful.

@renzjosermiral8606 Жыл бұрын

Very informative as easy as that

@sunshyn4me1 Жыл бұрын

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.

@AndrewRMoloCPA Жыл бұрын

On the same account? Or separate

@Storm_Swifty Жыл бұрын

What did you mean by "don't forget to reverse this entry next month"?

@yopaulo Жыл бұрын

GREAT VIDEO . THANK YOU

@PizzaGarage-s1v Жыл бұрын

can you able the doc of the chart of account? link enable

@milkzaccounting Жыл бұрын

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.

@AndrewRMoloCPA Жыл бұрын

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.

@ChrisColotti Жыл бұрын

Super helpful! Thanks was just thinking about this for a food truck we are building.

@gloriagaither8522 Жыл бұрын

I have been searching for a video on this ,thank you so much. Very helpful, much appreciated!

@soniamareeneri2574 Жыл бұрын

thanks!

@carlanoona Жыл бұрын

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"

@AndrewRMoloCPA Жыл бұрын

Hi, for checks received, you can create a separate account and name it Undeposited checks if you wanna track checks separately from undeposited cash.

@sheliaforbes6792 Жыл бұрын

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?

@jeffsmith7393 Жыл бұрын

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?

@AndrewRMoloCPA Жыл бұрын

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

@carlosanchezjr5536 Жыл бұрын

More Videos in QuickBooks Online particularly in Property Rental Company.

@carlosanchezjr5536 Жыл бұрын

I love your content. Very informative.

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