Quickbooks 2019 Tutorial for Beginners - How to Understand Your Balance Sheet

[@eiengel8563]

I have a question How I can get a trial balance with beggining balance debít crédit and ending balance

[@QbuniversityOrg]

I believe it’s in a report called Adjusted Trial Balance

[@louietoltolvlog9699]

Thank you so much! How do I edit what’s showing in account balances box on the right side?

[@QbuniversityOrg]

You have to first figure out what is causing the issue then depending on what it is most likely do a journal entry

[@JanieceNollNiece]

Do you have anymore videos on what makes a Balance Sheet look bad, besides a negative equity, and what to takes to make it look better?

[@QbuniversityOrg]

Have a question about how to understand your balance sheet...leave me a comment here!

[@gmslls]

Do you have any other videos that go more in depth on the Bal Sheet, dealing owner distributions, owner investments and how all of that works?

[@QbuniversityOrg]

George Shaw I don’t believe I do, but that’s a great idea for a future video!

[@aliaksandrstihl]

@@QbuniversityOrg Yes, I am an entrepreneur and have set up my own business with a partner. I would love to see a video that goes over how to account for cash investment and cash loans to your own business and how these should be reflected in the cashflow/balance sheets. If you can offer any advice in the meantime I would really appreciate it!

[@QbuniversityOrg]

@@aliaksandrstihl basically these will be either loans or equity investments from you to the business. These would be either loans or equity on the balance sheet and on the cash flow statement these would show up in the Financing section.

[@francieledonadel6349]

Hi! Why is different value between balance sheet (for inventory) and inventory?

[@QbuniversityOrg]

There shouldn’t be. Make sure your date ranges are the same on both reports. But also, the balance sheet reports just your cost in the inventory, not the retail value

[@eyadeyad4326]

Where is tax its should be liabelity

[@QbuniversityOrg]

Depends on the tax and type of entity

[@eyadeyad4326]

The sales payable vat its consider as liabelity or other income i think its should be liabelity

[@eyadeyad4326]

QbuniversityOrg@ receivable vat considered as expenses

[@graceyim2941]

Mat. Does quickbooks automatically put Net income into Equity?

[@QbuniversityOrg]

Yes it does

[@graceyim2941]

@@QbuniversityOrg Thank you thank you. Do I have to add a Net income equity account? Or will it just automatically appear?

[@samaragascon9460]

Thank you for your videos, Matt. Super helpful and easy to understand.

[@QbuniversityOrg]

samarai jg you’re welcome!

[@sandracarroll754]

Very helpful; easy to follow and understand.

[@QbuniversityOrg]

Thanks!

[@Bhaktamital92]

Thank you 🙏, Super helpful

[@QbuniversityOrg]

You’re welcome!