QuickBooks Online: Chart of Accounts (1 hour full tutorial)

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Hector Garcia CPA

Hector Garcia CPA

Күн бұрын

Пікірлер: 293
@grilledpikachu
@grilledpikachu 9 ай бұрын
Can you share the list of default QBO accounts with us?
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
Unfortunately, this seems to be a moving target. Here is the legacy database that contains the coa per industry: hectorgarcia.com/coasheet
@grilledpikachu
@grilledpikachu 9 ай бұрын
@@HectorGarciaCPA This is a long list haha. I meant the sheet @29:08 The one that has account types and sub types. Thanks!
@josephandrago6721
@josephandrago6721 4 ай бұрын
@@HectorGarciaCPA 7777777777777777777u77u7vc"'vugvvvv'vvvvhvuvugvh'''''vcvccvuuvccygcccyugvhucuvcgcvc"''v hybvckklhnvv v""' '
@TonyRodriguez-Trod312
@TonyRodriguez-Trod312 4 ай бұрын
Thank you
@nn-nn147
@nn-nn147 22 күн бұрын
@@HectorGarciaCPA Wowww this is wonderful database! Thank you very much!
@chrisflores-j5z
@chrisflores-j5z 2 ай бұрын
I have been watching your videos for about a year now. I also have certifications in QBO and QB Pro adviser for 2024, But I never really could make a balance sheet and Profit and Loss statement that made sense to me. I recently watched your videos on how to categorize uploaded bank transactions plus some other videos and I can see where I was making mistakes. This video was very helpful. I almost quit trying to use QB all together and not pursue a Bookkeeping Business. I am glad I sat down and watched this video; I am going to go back and practice again and see how it goes.
@PlanningwithGlenna
@PlanningwithGlenna 9 ай бұрын
This was extremely helpful! Thank you. I have used QB desktop for years but am switching over to online and starting over for several reasons. You have saved me so much time! I know I will be watching your other videos.
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
Great to hear!
@Christ_is_King951
@Christ_is_King951 26 күн бұрын
This is dynamite info. Basically everything in here is more than enough to get a first time business owner started to hit the ground running. Thank you Hector 🙏
@HectorGarciaCPA
@HectorGarciaCPA 26 күн бұрын
:)
@NicholRandolph24
@NicholRandolph24 Ай бұрын
Hector, thank you for making a detailed video for chart of account. I’ve struggled to categorize due to not knowing what can be merged or made inactive. This is so helpful and will be watching again since I kept getting interrupted.
@jonathanrianto4668
@jonathanrianto4668 3 ай бұрын
Watching from Kenya, Your presentations are worthy of time taken. Thank you
@andesenn
@andesenn 6 күн бұрын
Thank you for sharing your expertise. I'm just starting out and your's are the best and most imformative presentations I've seen. They are helping me navigate QB without freaking out. LOL
@HectorGarciaCPA
@HectorGarciaCPA 6 күн бұрын
@@andesenn awesome
@Dieselandjax
@Dieselandjax 3 ай бұрын
So glad I found this channel. I’m in school learning this .
@HectorGarciaCPA
@HectorGarciaCPA 3 ай бұрын
:)
@SP-mg3li
@SP-mg3li 10 ай бұрын
Great information! Thank you for taking the time to have these Master-Classes! Really helpful!
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
Glad you like them!
@nn-nn147
@nn-nn147 22 күн бұрын
you are the best tutor, Hector! Thank you for your thorough and super understandable explanation.
@HectorGarciaCPA
@HectorGarciaCPA 18 күн бұрын
You are welcome
@kazeemoluwatobilobasimeon5984
@kazeemoluwatobilobasimeon5984 11 ай бұрын
I pray you are able to see these questions sir. 1. why do we need categorization of transactions? Why do we categorize internal transactions and bank transactions. can "Rule" categorize internal transactions too? What is the essence of reconciliation in the generation of report. Can a report still be generated without reconciliation? What happens if a transaction reflecting internally and in the bank account are not categorised in the same chart of account; how will it affect reconciliation? What is the main purpose of chart of account? (I hope you see these sir, I need help. Most videos are explaining the tools and not the background knowledge. I am just a Medical scientist hoping to start a business)
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
They need time be categorized to be organized in your financial statements. You should run reports AFTER reconciling
@kazeemoluwatobilobasimeon5984
@kazeemoluwatobilobasimeon5984 11 ай бұрын
@@HectorGarciaCPA Alright sir. Thank you.
@happysmiling7411
@happysmiling7411 10 ай бұрын
Good stuff, Hector. Clear and straightforward. For LT Liabilities (Notes Payable), why wouldn't you create sub accts under Noted Payable for the two F150 loans?
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
Yeah you can.. thats optional
@wlfwlker3704
@wlfwlker3704 10 ай бұрын
Great information and easy to follow. I will watch for awhile and possibly join your group. Thanks Rick🙂
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
great
@TraciBradley-i8k
@TraciBradley-i8k 11 ай бұрын
Thank you HECTOR!!! You have saved me time and frustration 🎉
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
Happy to help
@Shine-me2iy
@Shine-me2iy 9 ай бұрын
This is helpful! Hope you could also explain the difference between P&L accounts and Balance Sheet accounts. Thank you so much.
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
Not sure if that exact content exisits, but this might help kzbin.info/www/bejne/pqXce6mnfbaArtUsi=QJDhPsCU-11GnWfZ
@sectumsampra
@sectumsampra 3 ай бұрын
Thank you so much! This was wonderful! I had my CoA set up but there were great tips in here on organizing it better!
@halalaffirmations
@halalaffirmations Жыл бұрын
Do you recommend recording Amazon Seller Income, Amazon KDP, and Amazon affiliate as separate income on Quickbooks? Or all under Amazon income?
@HectorGarciaCPA
@HectorGarciaCPA Жыл бұрын
I would separate it
@halalaffirmations
@halalaffirmations Жыл бұрын
@@HectorGarciaCPA thank you for the quick reply.
@yshangot1009
@yshangot1009 10 ай бұрын
This one is really helpful ! Thanks a lot Hector !
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
:)
@EmperorThePro
@EmperorThePro 8 ай бұрын
Just received my ProAdvisor certification today, but watching your videos i feel like theres a long way to go before I master QBOA. Here's to a commitment to finish all your 2024 Playlist!
@HectorGarciaCPA
@HectorGarciaCPA 8 ай бұрын
Oh yeah
@kellynusbaum2757
@kellynusbaum2757 9 ай бұрын
Would you know by chance, why my New Account Window looks different from both of your two window examples and why is there different window like a New General Categories?
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
They changed it again!! Thats why
@kellynusbaum2757
@kellynusbaum2757 9 ай бұрын
@@HectorGarciaCPA Do you have a new video to show how to add equipment fix assests, original cost, and accumulated depreciation because my text book doesn't teach the new way
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
@@kellynusbaum2757 no i dont.
@miguelescobar5476
@miguelescobar5476 10 ай бұрын
Este es el curso que tanto estaba buscando!!! execelente metodología Hector, saludos.
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
Perfecto
@user-ej9pz5zd5i
@user-ej9pz5zd5i Жыл бұрын
hi hector.. Loved the way u explained each and everything..
@HectorGarciaCPA
@HectorGarciaCPA Жыл бұрын
:)
@MommyNel_Levi
@MommyNel_Levi 6 ай бұрын
i miss my accounting subject in college which i really enjoyed❤, thanks for the refresher in chart of accounts
@HectorGarciaCPA
@HectorGarciaCPA 6 ай бұрын
:)
@lion-o22
@lion-o22 Жыл бұрын
Hi Sir, how to create separate account for Cash On Hand in such a way that it is not a sub-category of Bank Accounts?
@HectorGarciaCPA
@HectorGarciaCPA Жыл бұрын
Cant.. needs to be under the Bank Accounts type
@heikihamunyela8121
@heikihamunyela8121 11 ай бұрын
just create a separate patty cash bank account and use it for that purpose. It works.
@nicholeashlynthornelltripp9670
@nicholeashlynthornelltripp9670 15 күн бұрын
How do you purge your QBO account and start over from scratch? I'm within 60 days of purchase. And do you have a current video on importing COA? Is the "create empty COA" still an option?
@HectorGarciaCPA
@HectorGarciaCPA 12 күн бұрын
There is a special link, look it up
@cherutokirwa7820
@cherutokirwa7820 4 ай бұрын
Hi Hector. This was really helpful. I'm however unable to input opening balances after importing the chart of accounts. Kindly assist.
@HectorGarciaCPA
@HectorGarciaCPA 4 ай бұрын
You need to do it via a journal entry now
@PatelRajnikantVadibhai
@PatelRajnikantVadibhai 2 ай бұрын
Hello sir, I just seen your video and it's very well and good understanding.
@HectorGarciaCPA
@HectorGarciaCPA 2 ай бұрын
@@PatelRajnikantVadibhai great
@danilomercado7196
@danilomercado7196 24 күн бұрын
trying to decide which option is best for me.. can I have multiple departments ( at least 2 ) with the basic plan ? any help would be greatly appreciated.
@HectorGarciaCPA
@HectorGarciaCPA 24 күн бұрын
No.. for classes or locations you need the $99 a month plan
@tinamichele6992
@tinamichele6992 5 ай бұрын
What is the difference between linking an account (and letting QBO fill in this information) vs manually entering the balances (which seems tedious and prone to human error)?
@HectorGarciaCPA
@HectorGarciaCPA 5 ай бұрын
When you link the accounts; sometimes it brings the wrong amount. You need manually verify the balances and reconcile the banks. But you can download the activity once the accounts are linked and speed up the process. But there is always a manual element
@chytealthedeal
@chytealthedeal 10 ай бұрын
Thanks for this💚. I have a new client, previous year already cleaned up, taxes done and switching from Xero to QBO. Can I use their Trial Balance report to do a huge JE for all of the Opening Balances other than the main Bank account?
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
Yes thats that proper way
@chytealthedeal
@chytealthedeal 10 ай бұрын
Thank you 💚
@liombaliomba2662
@liombaliomba2662 8 ай бұрын
Thank you, very easy to understand and extremely helpful. ❤
@andyfaulkner_GLTS
@andyfaulkner_GLTS 6 ай бұрын
Thank you for a very informaative video. May be you can help with a question. In my old quickbooks desktop I was able to apply a discount in line item for an individual produt or a subtotal but in quickbooks online it will not do a percentage rate only a fixed price which does not change if you edit the quantity of items.
@HectorGarciaCPA
@HectorGarciaCPA 6 ай бұрын
Correct. QB online does not support that functionality. You need to enter it manually
@brinalidobariya7751
@brinalidobariya7751 11 сағат бұрын
Can we like do something like this that i made chart of accounts as expenses and then ihave 10 different expenses and i make that 10 account as subaccount of expenses can i do that ?
@HectorGarciaCPA
@HectorGarciaCPA Сағат бұрын
Yes
@mirnaromeroguerrero6356
@mirnaromeroguerrero6356 6 күн бұрын
Good evening! I would like to know how can I categorize my chart of accounts like yours? Thank you!
@HectorGarciaCPA
@HectorGarciaCPA 6 күн бұрын
You have to delete accounts and create new ones
@mirnaromeroguerrero6356
@mirnaromeroguerrero6356 6 күн бұрын
@ thank you!
@brendanbenson-qs9be
@brendanbenson-qs9be 9 ай бұрын
I'm following along your setup videos for QB and have unfortunately already linked a bank account from 12 months prior. I want to start over with 01/01/24 as my beginning. How do I do this? Do you have a point in one of your videos where you already explain this?
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
I dont have a video on this. This requires some cleanup work
@Chicana1824
@Chicana1824 7 ай бұрын
​@HectorGarciaCPA is there a way to "factory reset" the qbo account and start fresh with no linked accounts? My partner needs to record everything from March, only a few months, and I am trying to get him started on the right foot setting up his COA and products/services and he unknowingly already linked bank accounts too during initial set up. I would prefer to just erase everything or reset it back to its original format and start clean. I'll also mention that he is currently still in a 30 day free trail period until 6/30/24 if that is helpful.
@mqjona2719
@mqjona2719 4 ай бұрын
Thanks much Hector for this video. I prefer assigning of numbers to accounts too for my easy tracking.
@HectorGarciaCPA
@HectorGarciaCPA 4 ай бұрын
Agreed
@zahidsarwar-o3f
@zahidsarwar-o3f Ай бұрын
thank you so Much Mr. Garcia it was really helpful ❤❤❤❤❤
@grilledpikachu
@grilledpikachu 9 ай бұрын
Can you please share the account types and sub types sheet? @29:08
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
The link is in the videos description
@barakatbasma
@barakatbasma 6 ай бұрын
Amazing: thank you so much you answered most of the points that I wanted to research, especially the Opening Balance Equity
@HectorGarciaCPA
@HectorGarciaCPA 6 ай бұрын
Glad it was helpful!
@janetrobinson8925
@janetrobinson8925 3 ай бұрын
Very good presentation, easily understood. Thank you, Hector.
@HectorGarciaCPA
@HectorGarciaCPA 3 ай бұрын
@@janetrobinson8925 :)
@kathyrodgers1681
@kathyrodgers1681 3 ай бұрын
Why is my charts not the same as yours? Example. Going to accounts and making anew one with an opening balance it doesn’t give me the options of using a checking or even a savings. Yes I have purchased the program so i don’t know why it’s not letting me open new accounts.
@HectorGarciaCPA
@HectorGarciaCPA 3 ай бұрын
You can onky add beg. Balance to new balances sheet accounts
@thamaramartino2025
@thamaramartino2025 Жыл бұрын
Hector una pregunta, si un cliente viene ya con el plan de cuentas creado y las extensiones de las tarjetas de creditos no fueron creadas como sub cuentas, se puede modificar, o hay que desconectar las cuentas del banco, crearlas en el plan de cuentas y volverlas a conectar...?
@HectorGarciaCPA
@HectorGarciaCPA Жыл бұрын
Si
@profitablebusiness8559
@profitablebusiness8559 10 ай бұрын
Hey heater for the sub accounts does that require personal accounts as well or just business accounts ? With chase
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
Generally business only
@profitablebusiness8559
@profitablebusiness8559 10 ай бұрын
@@HectorGarciaCPA okay great thank you so much
@tonipeaker-rm5lz
@tonipeaker-rm5lz 10 ай бұрын
Thank you Hector very informative ❤
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
My pleasure!
@thamaramartino2025
@thamaramartino2025 Жыл бұрын
Saludos Hector, gracias por tus videos son de mucha ayuda, siempre los veo cuando tengo dudas, queria consultarte si las 1099's se pueden corregir en Quickbooks online? Gracias de antemano por tu atencion.
@HectorGarciaCPA
@HectorGarciaCPA Жыл бұрын
Si en Febrero abren esa opcion
@NaomiMacPherson-dv4lq
@NaomiMacPherson-dv4lq 8 ай бұрын
I just purchased QBO for my personal finances. I plan on buying for my corporation as well. First, I want to start with my personal finances to get to know QBO well. I want to do all my finances from 2018 - to now. My Corporation started in 2020 so I need to start in 2020 for that. Anyway, can I start adding in 2024 stuff while I am putting in 2018, 2019, 2020, 2021, 2022 and 2023? or should I do all my 2018 1st and then close each year before I move on to another year. How should go about this?
@HectorGarciaCPA
@HectorGarciaCPA 8 ай бұрын
I would go in order
@okivillarreal2577
@okivillarreal2577 10 ай бұрын
Is there a way to create a new "Detail Type" when you are creating a new account under Chart of Accounts? I have an Expense that does not fall under any of the categories listed under "Detail Type" and would like to create a new heading that would appear directly under "Expenses"
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
Not possible
@okivillarreal2577
@okivillarreal2577 10 ай бұрын
😪 Thank you@@HectorGarciaCPA
@ktxthrifts
@ktxthrifts 7 ай бұрын
Is your version the online version? I have an old online self-employed simple version and I do not see any of these options. I'm thinking I need to upgrade?
@HectorGarciaCPA
@HectorGarciaCPA 7 ай бұрын
You might not have the same version.. the “self employed” edition is very different
@officialhabibspeakz5735
@officialhabibspeakz5735 10 күн бұрын
Thank you for the wonderful lesson. Also, why do we need to edit the date when we could have entered it correctly when posting the transactions? I understand the idea of backdating, as we can't prepare a balance sheet for the actual year based on the historical cost principle. with Love from Nigeria.
@HectorGarciaCPA
@HectorGarciaCPA 10 күн бұрын
@@officialhabibspeakz5735 its a complex answer, hard to elaborate here
@officialhabibspeakz5735
@officialhabibspeakz5735 10 күн бұрын
@@HectorGarciaCPAAlright sir.
@arnoldboo42
@arnoldboo42 8 ай бұрын
How should you we account for revenue and expenses from cash app not recognize in your bank statement
@HectorGarciaCPA
@HectorGarciaCPA 8 ай бұрын
Depends on what you spend the money on
@arnoldboo42
@arnoldboo42 8 ай бұрын
@@HectorGarciaCPA Wow thank you for your quick response. Tithes coming in and expenses. Note we are just using quickbooks for recording purposes only. Bills already paid etc..
@HectorGarciaCPA
@HectorGarciaCPA 8 ай бұрын
@@arnoldboo42 makes sense
@arnoldboo42
@arnoldboo42 8 ай бұрын
@@HectorGarciaCPA could I make adjustments for both (cash app) offerings and expenses not recognized by the bank??
@kapilPuli
@kapilPuli 7 ай бұрын
Please send spread sheet of expense and income category to classify in books
@HectorGarciaCPA
@HectorGarciaCPA 7 ай бұрын
link in the the decription
@NaomiMacPherson-dv4lq
@NaomiMacPherson-dv4lq 8 ай бұрын
Do I have to have my chart of accounts done before I start? or could I add an account after I start transacting.
@HectorGarciaCPA
@HectorGarciaCPA 8 ай бұрын
QBO will generate a standard chart of accounts for now
@NaomiMacPherson-dv4lq
@NaomiMacPherson-dv4lq 8 ай бұрын
@@HectorGarciaCPA Then I can adjust it as I am transacting or do I have to change the chart of accounts before I start transacting.
@ahmedatef7585
@ahmedatef7585 5 ай бұрын
The balance sheet lists all the current assets, including Inventory and A/R under the Current Assets. How to classify the bank accounts under separate types in the balance sheet (Cash and cash equivalents - or Bank)? Please advise
@HectorGarciaCPA
@HectorGarciaCPA 5 ай бұрын
Cash or Cash Equivalent = Bank
@ahmedatef7585
@ahmedatef7585 5 ай бұрын
@@HectorGarciaCPA Ok All current accounts listed together, not diffrentiate to bank, AR, Inventory. How i divide or diffrentiate the accounts in the BS?
@guiaobed4289
@guiaobed4289 11 ай бұрын
I am watching all your videos and I am learning a lot. Thank you so much! :) My question is what if the OBE amount is negative?
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
Adjust against retained earnings
@dawnp1402
@dawnp1402 11 ай бұрын
Is there anyway to upload a bank statement to a reconciliation? The accountant wants pdfs but I can’t find anywhere in QBO to upload them too.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
No, but you can upload it to a vendor or something
@victoriaday6030
@victoriaday6030 7 ай бұрын
Can you explain why you didn't leave the generic Services Income account and then make Remote and Onsite services subaccounts? Thanks. (I haven't used QB for a number of years and am enjoying your videos to refresh my QB neurons.)
@HectorGarciaCPA
@HectorGarciaCPA 7 ай бұрын
No specific logic, its always potentially different for every company, based on how the want to see it.
@christinalyons6174
@christinalyons6174 2 ай бұрын
I was today years old when I learned if you use the QBO provided COA template to import a COA with sub accounts into QBOA, you DO put a space after the colon and the sub account name: ie: Payroll expenses: Wages BUT when using the journal entry template provided by QBO to import a Journal Entry using that SAME account, there is no space in the account name Payroll expenses:Wages 🤯
@HectorGarciaCPA
@HectorGarciaCPA 2 ай бұрын
@@christinalyons6174 no space
@ccafKhmer
@ccafKhmer 11 ай бұрын
Hello, in Quickbooks oline plus, can we import budget plan?
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
Yes
@ccafKhmer
@ccafKhmer 11 ай бұрын
@@HectorGarciaCPA but my version does not have the option!
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
@@ccafKhmer are you in the US? Because I cant answer any questions on non-US versions
@ccafKhmer
@ccafKhmer 11 ай бұрын
@@HectorGarciaCPA I am in Cambodia!
@jessie160011
@jessie160011 10 ай бұрын
Is there a way we can add a header account and then a sub account. such as HEADER (COGS - Emergency ) SUB-ACCOUNT(s) (Materials), (Labor), (Overhead), (Sub-trade)...
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
Yea, you can have subaccounts. I though i covered that in the video
@jessie160011
@jessie160011 10 ай бұрын
Yes, sub accounts were explained, but i'm interested in knowing if we can add a HEADER account that reads (COGS- Emergency) so i can attach my sub accounts Kinda like quickbooks desktop allows. @@HectorGarciaCPA
@AccalaKessler
@AccalaKessler 6 ай бұрын
Hello. Does Hector have a video on how to record the healh insurance premium payments that are paid on behalf of an S-Corp owner who owns more than 2%? I know that my payroll provider is handling how it is reported on the owner's W2, but I am not certain how to code it in QBO. If he does not have a video on this, can you point me to any resources for learning the correct way to book these transactions? Thank you.
@HectorGarciaCPA
@HectorGarciaCPA 6 ай бұрын
I don’t have a video on it. But basically, the company paid portion of HI is part of Salaries and Wages Expense
@AccalaKessler
@AccalaKessler 6 ай бұрын
@@HectorGarciaCPA thank you for your reply
@normavalderrama1170
@normavalderrama1170 Жыл бұрын
Hertor me podria decir que tax line escoger para Owner draw y para retained earning
@HectorGarciaCPA
@HectorGarciaCPA Жыл бұрын
cualquiera, no importan los "tax lines"
@jiaminghuang6748
@jiaminghuang6748 2 ай бұрын
May I have a question? If I create a new account , just like a vehicle , and add a balance to it as of 01/01/2024. Then it will increase my asset, and change the amounts in my Balance Sheet. But what did I decrease? I know creating an account is not recording a transaction. But I keep worrying about the double side entries? Do you mind explaining it to me?
@HectorGarciaCPA
@HectorGarciaCPA 2 ай бұрын
Equity
@jiaminghuang6748
@jiaminghuang6748 Ай бұрын
Got you. Thank you so much.​@@HectorGarciaCPA
@sandysharpe5819
@sandysharpe5819 2 ай бұрын
I have worked with chart of accounts for years and just watching this video gave me quite a bit of insight into better understanding the chart of accounts. Great video. Ps. I was trying to download the sample chart of accounts but with no success. Is is still accessible for download?
@HectorGarciaCPA
@HectorGarciaCPA 2 ай бұрын
Great.. yeah its on the website
@chingkiey8160
@chingkiey8160 5 ай бұрын
thank you Hector for this video - I learned many things from this tutorial.
@HectorGarciaCPA
@HectorGarciaCPA 5 ай бұрын
:)
@hemanifinancials
@hemanifinancials 5 ай бұрын
Is there a way to do away with the default chart of accounts?
@HectorGarciaCPA
@HectorGarciaCPA 5 ай бұрын
Have to delete all the accounts manually
@harrietdiedering5755
@harrietdiedering5755 Жыл бұрын
Hi Hector, just love your videos! Quick question, if I start e.g. with the Essentials version on your discount link and change to Plus a few months later, will I keep the 30% off or are they lost then?
@HectorGarciaCPA
@HectorGarciaCPA Жыл бұрын
In the system, you lose it, but if you email me hector@garciacpa.com i can have my Intuit contacts fix it after the fact.
@harrietdiedering5755
@harrietdiedering5755 Жыл бұрын
@@HectorGarciaCPA Thanks for answering that quick!
@EdgarUSA
@EdgarUSA 10 ай бұрын
Thank you Hector. Super important information
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
My pleasure!
@fatimahabdrahman3754
@fatimahabdrahman3754 5 ай бұрын
Hello Hector. Thank you for a very informative video. In your presentation, I saw a list of accounts such as the owner's draw and personal expense account. Do those 2 have different meanings , or can we use them interchangeably? Does the owner's draw refer to salary? Thank you. Fatimah
@HectorGarciaCPA
@HectorGarciaCPA 5 ай бұрын
They are the same at the end of the day
@fatimahabdrahman3754
@fatimahabdrahman3754 5 ай бұрын
@HectorGarciaCPA thank you for the quick reply. I appreciate it very much.
@karenmaeabao6310
@karenmaeabao6310 11 ай бұрын
You saved me Hector, thank you so much.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
Glad to hear it!
@SicontEnterprisesofAmericaIncR
@SicontEnterprisesofAmericaIncR 11 ай бұрын
Hola hector, yo importo un plan de cuentas pero esta activa la empresa se reemplaza las otras cuentas .
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
No. Las anañade
@KeithShivner-bw6dz
@KeithShivner-bw6dz 9 ай бұрын
How would add phone expenses when you're using your own personal phone? What % of the bill is applied to business expenses? Where would you post that, reimbursement?
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
50/50 is a good starting point
@innerpeace7106
@innerpeace7106 6 ай бұрын
can you share the pratice file all the section.TIA
@HectorGarciaCPA
@HectorGarciaCPA 6 ай бұрын
Not available
@iuliia7914
@iuliia7914 11 ай бұрын
Thank you for your explanation. Could you explain please, how create in new version QB sub account, I tried but it doesn’t gives to me to do it. Thank you Sir again for your support us
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
I think it was explained in the video.. no?
@iuliia7914
@iuliia7914 11 ай бұрын
@@HectorGarciaCPA I understood, that’s looks so strange, when you create account everything is ok, but second version doesn’t give me created sub account. When I was in first version I never had this issue. Could you help me please. I am studying the program and preparing for certification. Could it be a problem with the version?
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
I cant see what you are seeing @@iuliia7914
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
@@iuliia7914 yes, or the country
@DiegoCasagrandeOnline
@DiegoCasagrandeOnline 9 ай бұрын
Great video! Helped me a lot! Thank you!
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
Awesome
@peejprz
@peejprz 14 күн бұрын
Thank you for sharing your knowledge sir! bless you!
@HectorGarciaCPA
@HectorGarciaCPA 13 күн бұрын
:)
@BardenAccounting
@BardenAccounting 11 ай бұрын
When adding the assets, why wouldn't you just book the full value of the truck and then create a separate accumulated depreciation - vehicles account with the accumulated depreciation amount for the vehicle?
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
That can be done too.. there is no rule saying that is wrong or right
@GrethelAnnQuinto
@GrethelAnnQuinto 9 ай бұрын
hello hector, can you share the QB chart of accounts with us? thank you.
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
Links are in the video description
@iuliia7914
@iuliia7914 11 ай бұрын
Hello Sir. I’m so grateful for your support. I have a question for you. I tried to enter the initial balances in the bank account, but the program does not show this option. could you explain to me how I can get the leftovers when I start working with the program. thank you in advance and with respect to you.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
Once the account is created, that option goes away. So you need to do it via a journal entry
@iuliia7914
@iuliia7914 11 ай бұрын
@@HectorGarciaCPA Thanks for your attention to me. It was never been created . It’s such trending QB format that never gives to me to do that. Jus only when I opened sample firm I can to do that. Of course I did everything with journal entries. Thank you for your help Sir. Could I ask you another question please. How I can to find mistakes with some journal or special report. Have a great day for you. I’m so grateful. 🙏🙏🙏 you are the best
@iuliia7914
@iuliia7914 11 ай бұрын
@@HectorGarciaCPA I just want to note that I tried to this action in training version.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
@@iuliia7914 dont know what you are asking
@sunlight3819
@sunlight3819 3 ай бұрын
Very helpful video. Thanks for sharing!
@aleenaosama1
@aleenaosama1 4 ай бұрын
I just joined a new client, his qbo is pretty messed. The deposits are added as payment. How can i rectify.. 😢
@HectorGarciaCPA
@HectorGarciaCPA 4 ай бұрын
Wow.. you might need to change the payments account to undeposited funds
@aleenaosama1
@aleenaosama1 4 ай бұрын
@@HectorGarciaCPA any simple way to do it, or any of your videos can guide me with it? Or should I do it the regular way.
@rainierproducts1457
@rainierproducts1457 11 ай бұрын
Great video, Hector! I can see this is not your first rodeo. Is there any way I can get my hands on your custom chart of accounts. That would save me a lot of time.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
I sell it to my non-clients: qbkaccounting.com/ultimate-chart-of-accounts-for-quickbooks-desktop/
@parkashmagar8468
@parkashmagar8468 9 ай бұрын
I can't connect the dot which may be due to lack of practical knowledge can you suggest me how to make sure learn qb really fast,, it's headache to me😢
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
“Fast” is not a thing. It takes months of practice to start getting comfortable with it
@parkashmagar8468
@parkashmagar8468 9 ай бұрын
@@HectorGarciaCPA is there scope now too like I was trying to learn tally but many stds says about Xero and qb so I am learning them now, I am part qualified ACCA I am lost I don't know what to learn what not to, to many riddles to solve I think I would lost my mind🥲 And thanks for your reply
@Sbdbbookkeeping
@Sbdbbookkeeping 2 ай бұрын
very informative video. thanks you for the great content 😊
@HectorGarciaCPA
@HectorGarciaCPA 2 ай бұрын
Glad you like it
@jessireadsthings
@jessireadsthings 9 ай бұрын
THANK YOU, THANK YOU! This video saved me so many headaches. I have a quick question if you (or anyone) could answer. I'm starting a sole proprietorship and have $5000 of my own money to invest for start-up costs, any idea how I would set up an account to track that? Not sure if it should be classified as an Uncategorized Asset or some type of income? Thanks in advance!!
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
You can have an account called that literally
@DenissKaskurs
@DenissKaskurs 4 ай бұрын
Thank you for your great tutorials.
@HectorGarciaCPA
@HectorGarciaCPA 4 ай бұрын
My pleasure!
@MIRGIANVANESSAVARELAVENTURA
@MIRGIANVANESSAVARELAVENTURA 11 ай бұрын
Saludos Hector, me puedes ayudar? necesito un tutorial completo de Quickbooks en español
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
No hay en mi canal
@josemarieaviles
@josemarieaviles 11 ай бұрын
Hello Sir, I am starting to binge watch your videos about QuickBooks, aside from this 2024 playlist that you have recently created, what other playlist of yours would you recommend? I'm an accountancy student and planning to be a virtual bookkeeper at the same time.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
2024 playlist is the best option for QB videos
@josemarieaviles
@josemarieaviles 11 ай бұрын
@@HectorGarciaCPA thank you so much
@nicardopinnock6389
@nicardopinnock6389 6 ай бұрын
Can you share your version of chart of accounts with us?
@HectorGarciaCPA
@HectorGarciaCPA 5 ай бұрын
All links are in videos description
@marinamanan6070
@marinamanan6070 9 ай бұрын
Thank you Hector, I enjoyed your videos🥰🥰
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
:)
@chytealthedeal
@chytealthedeal 10 ай бұрын
Where is the link to buy your COA?
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
qbkaccounting.com/ultimate-chart-of-accounts-for-quickbooks-desktop/
@leonornunezliendo597
@leonornunezliendo597 3 ай бұрын
Do you have Accounting classes?
@HectorGarciaCPA
@HectorGarciaCPA 3 ай бұрын
No
@jullienoble8547
@jullienoble8547 11 ай бұрын
Hello Sir. Nice videos and it's easy to understand.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
:)
@jullienoble8547
@jullienoble8547 11 ай бұрын
@@HectorGarciaCPA I just want to ask about Chart of account Sir. what is the best account title for Fund Transfer the reason of fund transfer is converting US currency to Canadian Currency. Then vice versa. I'm using Canadian QBO right now.
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
@@jullienoble8547 where is the money transfering to?
@jullienoble8547
@jullienoble8547 11 ай бұрын
From US to CAD.
@MinervaCorral-p6r
@MinervaCorral-p6r 5 ай бұрын
Do you provide QuickBooks training in Spanish?
@HectorGarciaCPA
@HectorGarciaCPA 5 ай бұрын
@@MinervaCorral-p6r we offer private training in spanish and english
@bethgalano2874
@bethgalano2874 11 ай бұрын
Thanks Hector! Great Job!
@HectorGarciaCPA
@HectorGarciaCPA 11 ай бұрын
Glad you liked it!
@mardelascott7936
@mardelascott7936 4 ай бұрын
Great information! Really helpful!
@HectorGarciaCPA
@HectorGarciaCPA 4 ай бұрын
Glad it was helpful!
@Salvan45
@Salvan45 8 ай бұрын
Hector How come I cannot enter an amount in my chart of account .
@HectorGarciaCPA
@HectorGarciaCPA 8 ай бұрын
I don’t know why YOU can’t. But in general it needs to be a balance sheet account only and with no activity
@kuldeepdadhich9312
@kuldeepdadhich9312 9 ай бұрын
Fantastic Knowledge Thanks for this wonderful class
@HectorGarciaCPA
@HectorGarciaCPA 9 ай бұрын
Thanks and welcome
@preciousmoyyo
@preciousmoyyo 3 ай бұрын
Where do I add the currency?
@HectorGarciaCPA
@HectorGarciaCPA 3 ай бұрын
You need to turn it on first
@KingTV6
@KingTV6 8 ай бұрын
It wasn't helpful but superbly helpful. Much Appreciate!
@HectorGarciaCPA
@HectorGarciaCPA 8 ай бұрын
:)
@Connie-ss6ht
@Connie-ss6ht 6 ай бұрын
Can I have an excel copy of your chart of account spreadsheet please?
@HectorGarciaCPA
@HectorGarciaCPA 6 ай бұрын
Look at the links in the description
@carlahaynes6863
@carlahaynes6863 10 ай бұрын
Thank you so much, really helpful!
@HectorGarciaCPA
@HectorGarciaCPA 10 ай бұрын
:)
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