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@SamiBigham-k1i7 ай бұрын
I use QBO but this was super helpful! I was able to apply your instructions and record the sale. Thank you!
@QbuniversityOrg7 ай бұрын
Awesome!
@davidrelf61627 ай бұрын
Great turorial!
@QbuniversityOrg7 ай бұрын
Thanks!
@damalaiyans13637 ай бұрын
Question 2, what will be the effect of the loan amortization in the loan manager in QuickBooks?
@QbuniversityOrg7 ай бұрын
You would have to satisfy the loan in loan manager
@damalaiyans13637 ай бұрын
Question 3, if the asset is sold without the loan in the General Journal, what is the effect?
@QbuniversityOrg7 ай бұрын
Do you mean if there is no loan at all or if it was just never recorded in the GL?
@VictorStephanieRutledge3 ай бұрын
If you have a loss on the sale and you debit the gain of sale account, how to do balance the JE?
@damalaiyans13637 ай бұрын
My question is, what will happen to the loan interest payable to the vendor?
@QbuniversityOrg7 ай бұрын
You would just break the interest expense out from the principal of the loan
@damalaiyans13637 ай бұрын
Is it possible to just sell the asset only and continue the amortization of the loan in the QuickBooks, even though the asset is no longer available?
@QbuniversityOrg7 ай бұрын
Yes it is. Typically though if the loan secures the asset it needs to be paid off when sold
@hussainafg165320 күн бұрын
Hi I am facing a problem how to allocate shipping and other cost on item and pay the shipping cost, that it shouldn’t effect wrong profit and loss??
@QbuniversityOrg19 күн бұрын
Are you having a problem when you record an expense that has shipping costs?
@hussainafg165319 күн бұрын
@@QbuniversityOrg no when receiving item from vendor and I pay for the shipping cost.
@hussainafg165319 күн бұрын
@@QbuniversityOrg i want to allocate all freight cost on item in my inventory.
@hussainafg165317 күн бұрын
@@QbuniversityOrg you haven’t answered my question yet sir???
@QbuniversityOrg14 күн бұрын
Are they charging you shipping separate from the actual inventory? If so it’s a pain in QB to add this to inventory in an easy way since it really is allocated to all goods in that shipment. It’s easy to add to inventory, it’s just hard to have it taken back out in COGS. If they are adding it to the invoice in the shipment you get then generally we would just add it to all items in the shipment pro rata so that the cost of each item goes up