What a very informative and clear explanation! Thank you!!

Hello and thank you for this clear explanation! I can't seem to match multiple payments against sales receipts, only invoices. I wonder about whether that is possible?

Canada

Can I do this if some of the transactions are from previous years where the books have already been closed?

The breakdown of QuickBooks Online plans is quite helpful. For those managing invoices and payments, integrating a tool like InvoiceBerry can simplify the process further, complementing QuickBooks by providing a user-friendly solution for generating and managing invoices.

When you say net income I assume it was before tax ? I believe the tax haven't been considered .

My issue is my automatic credit card payments for software like website hosting and such are charged in USD so the invoice is in USD but my credit card is in CAD so I can't automatically match the two because the prices don't match. Is there any way to go around this? I had QuickBooks for a few months but didn't use it at all because this wasn't working and now I can't downgrade from multicurrency. Most of my income and expenses are in USD but I'm in Canada and there just seems to be no way to work around this without adding each reoccurring expense in manually each month. That would be a full time job on its own.

Thanks VERY MUCH!!!! My bookkeeping service couldn't solve this... All I had to do was change the amount to the amount paid, instead of leaving it as the amount received. I already knew I had to resolve the difference, but it wasn't working because I was resolving the wrong direction.

Can you tell me why our QB Profit and Loss only contains expenses if the expense check written/dated during the month cleared during the month. If the expense check didn't clear during the month the check was written the expense isn't included in the P&L. I thought expenses are recognized in QB when the check is written/dated and not when it clears regardless of whether you are using cash or accrual basis.

Why do uncleared checks show on the bank reconciliation as a negative. If the checks have not cleared the bank but cash has been credited in QB when the check is generated/dated then the balance in QB will be less than the bank so i would think you would add the uncleared amount to the QB balance in order to reconcile to the bank statement.

I want to run the report but only for Paypal transactions, is that possible?

Thx for the info. Is there anymore to it? I do this and write a check. Been doing it for 3 years now and the balance has grown a bunch. Just asking to see if I need to clear it out or something at eoy. Thx again

Great video. Thank you! What if you have deposits that also appear (incorrectly) as payments? What is the problem there? Exact amounts same customer.

Helpful work.Thanks a lot.

Excellent, thanks!

Hi do you know how to split invoice in two clients the job was split by two client which is Neybour but different address other side of road was share garden, paid already bank transfer. Thanks for help

Do you have a video to setup when we charge the credit card fee to the customer? For example, invoice is $1,000 but I want to add a 3.5% fee, new total is now $1,035 (I realize that QB will now charge the fee on the new balance but that's okay). I tried to set up a SERVICE and make it an expense for CC fee, but I don't think that's right. Or can I use the account that you created in this video for the CC fee and do it that way? I hope I'm making sense.

I have a question, if you move old Und Funds to bank clearing account and then record as sales, does that not overinflate the P&L and would then affect Corporate Tax Payable?

I subscribed to Quickbook essentials. I could not work out how to batch re-categorise transactions. Apparently it’s not an option unless you pay them even more per month?

Thank you...I loved it. Great video!

Hi, Thanks for this video....very clear explanation. Question >> is there a way to have QB NOT bunch multiple transactions together. I would like each txn to hit the bank as individual txns. that wud be ideal for my situation. I find that digging deep and looking for matches is not a good use of my time. Its frustrating. Thank you!

thanks!

Thank you! Trying to get my things in better order and recently discovered your helpful videos. Things I wish they taught us in school as it's fundamental!

Are the different designs (Airy new, Airy classic, Modern, Fresh, Bold, and Friendly) no longer an option in the new invoice format?

Can you add a class to the shipping feature?

All this is really useful information, I asked in your other video but was left with a small question. We cleaned our cash account by transferring the balance to an expense account, left with less than $2 under the Home currency level. I tried to edit the rate while doing the transfer, but in that too I was not able to clean that completely. Now what should I do to clean the account at Home Currency level.Hope my quey is clear.

Can i change this back to old format please helo me regarding this

Hey hey go back to customize tab and click on custom fields. You skipped it because you know it doesn't work didn’t you. I saw that. I need to add product categories to the product collum in the new Modern template. Ill pay you to tell me how to do that.. help

The video is really helpful, but have one question. We are clearing our cash account in functional currency booking the amount under an expense, this has cleared the account in Functional currency under the chart of accounts, but when we pull our statement of activity report in home currency, we have a variance of 1.41 due to exchange rate, now to make that 0, so that account is cleaned up at home currency level too. I was thinking to create a journal, but I think that will again open up the balance at the Functional currency level.

So we are getting clients that want to change their CC on file for autopay. QB wont let us add or edit a new card they say we need to add the client again then Merge(That is how we found the video) seems crazy just to change a card that we need to re enter a client?

Hello! Love your channel. I have a question regarding selecting the proper class for a transfer of funds. The company owns rental properties, and at the end of each month, transfers rental income from each of 6 properties into a main LLC account. My question is this: for the transferring of the monthly monies, for these transfers, do I categorize the class as the outgoing account (the property) or categorize the class as the main LLC, where the money is going to? Thanks in advance for your help.

We are cleaning up our cash account inQB, we have balance in books but no physical cash left as we didn’t record everything, now we have to write that off, do you have any suggestions on this.thanks

Fabulous! Thank you!!!

We have so many invoices we have to do them over several days. I am unable to request to send later. How do I change this back? Do you know? Thank You Kim

Should both transactions that are being matched be of the same amount? thanks

Hi, How can I match some deposits made in check and also in cash?

how do I now transfer the funds to my personal checking account

Thank you for your video. I had been struggling with how to track invoice payments via paypal which would result in a "clean" invoice to the client and track the processing fee as an expense. I called QBO, looked a close to a dozen other videos and only you approach and video worked for me! Thank you. I have now subscribed and am on my way to check out your classes on your website.

Thank you for the update! I didn't know it.

hi + thanks for such a nice and simple video. special thanks for taking the time to share with us. i am brand new to quickbooks and so i will most probably be following @florak1087 with more "stupid" questions, lol. i have imported my credit card transactions into QBO but my concern now is that they may have been recorded with improper values??? when i imported, there was a message that read, "CHECK: generally, credit card payments post as positive numbers and charges post as negative ones. occasionally, some banks generate files with this reversed. do transactions below correctly indicate payments and charges?" the default response was "keep original values." i am afraid that i may be reading too much into things, but i imported amex credit card charges >charges showed positive value and any refund and credit showed negative values. did i do the right thing? if not, is there an easy way to reverse these 300+ transactions without losing my mind? HELP!

Hi, Im new to QBO, I have clicked and added a bank feed transaction by mistake, so my question is how to undo that "added" transaction? Thank you. I am enjoying your videos.

My wife is good with QBO and found that I "Received' the total payment, and therefore it would not find the invoice total to match. I had changed the payment to not received and then was able to match my 2 payment amounts. If it were as easy as you show in your vid I wouldn't have needed to look for help, book keeping software is full of details that are time consuming to solve. QBO is no different

I have an invoice for $5600, customer e transfered 3000 and 2600, it wont find the $5600, date is correct, bank acct. correct, what am i missing?

Thank you! Your video saved my day!!!

Thank you for your video! I have too many categories / labels. How do I delete the ones I do not need?

thanks for your time and the video its straight to the point! but now we know how to transfer to the owner equity account, but what is the transaction to record when i cash it out from the bank account

Thank you so much for sharing.

Wow! Ok I think I tried this but the main invoice wasn't showing up. I'll go try again and come back. I should've found this channel years ago

I don't see the link for the finding and fixing duplicated deposits and or undeposited funds that are also doubled up