A step-by-step demonstration is exactly what I needed to see so I could understand the entire process. Thank you so much!
@joannadeluna28372 жыл бұрын
I just want to thank you for this video!!! I have not balanced my books in months bc I was overwhelmed with the process of setting these accounts up! Actually I was totally lost bc I only have to do this type of thing every couple of years when we trade in our work truck. So I forget how to do this in that time span... THIS IS PERFECT!!!! Thank you so much for helping!!! SAVING FOR NEXT TIME ❤❤❤❤❤
@ecquickbookstraining2 жыл бұрын
Thank you Joanna, I am glad it helped.
@amandadelacruz4992 жыл бұрын
I'm have not yet completed your video and I already love it! Exactly what I needed, Thank you so much!!!
@ecquickbookstraining2 жыл бұрын
Glad it was helpful!
@genecreamers52332 жыл бұрын
This what great! Thank you, so many of the other videos skip how to set it up in the chart of accounts. Thanks!
@ecquickbookstraining2 жыл бұрын
You're welcome!
@shirleyjimenez82454 жыл бұрын
Hi this video it is very helpful, different from other entries affecting 3 accounts
@msmillionaire712 жыл бұрын
Thank you for this tutorial. I sincerely appreciate it!!
@ecquickbookstraining2 жыл бұрын
You are so welcome!
@patriciaontiveros46402 жыл бұрын
Thank you for the demonstration it was easy to understand the process
@brendaberry9812 жыл бұрын
Thank you. You make a great teacher
@ecquickbookstraining2 жыл бұрын
I appreciate that! Thank you.
@AdminPiscopoTransport Жыл бұрын
Amazing video can you please make another one on the latest version
@mochabeautyioable4 жыл бұрын
Very easy to follow!! Thanks for sharing!😊👍🏽
@nidasfilms4 жыл бұрын
This video with Excel link and the Education video are awesome. I really appreciated. I have a question about the GST: do I need to record the tax each month depending on the principle amount I paid? Please let me know. Thank you
@rebekahsowards91584 жыл бұрын
Thank you for sharing this and also your worksheet. So helpful!
@ecquickbookstraining4 жыл бұрын
You are so welcome!
@LegacyFenceFlorida4 жыл бұрын
Thank you so much for this video! You explained everything so well!
@taniarwm6540 Жыл бұрын
easy to understand! One question - writing cheques to the vendor, Dealer, in this case leaves you with all these payments but not invoice. do you need to enter an invoice first?
@ecquickbookstraining Жыл бұрын
No you can record it as a check or expense in QuickBooks
@erikaestrada8632 Жыл бұрын
the best video I found
@maribelslxs4 жыл бұрын
👍👍👍👍👍👍 Loved it!! Some of it was a little too fast. Maybe slow down when you switch from different screens but other that 5 STARS!! Sorry not sorry but women are a part of the trucking industry! Either behind the wheel or behind the books!
@plbhandymanservicesllc76045 жыл бұрын
nice video , but i have question how to record when you trade in vehicle is all ready in quickbooks and pay off the balance with check the new vehicle?
@jillos12714 жыл бұрын
Very good explanation!
@cmorampudi2 жыл бұрын
Best tutorial ma'am ... Awesome ...
@2011mapac4 жыл бұрын
Excellent video. It help me a lot. Thank you.
@premierautoimportsllc4700 Жыл бұрын
I have a small dealership. Can you post a video on how to enter a vehicle that I purchased from an auction for sale. Additionally if that video can walk thru the process of selling that vehicle someone with on the lot financing.
@roseycecola60815 жыл бұрын
Perfect. Extremely helpful. Thank you
@sharonsanchez28514 жыл бұрын
Thank you for making this so easy.......How do you show when you trade in one company vehicle for another company vehicle?
@jessicaLiz7774 жыл бұрын
Thank you for posting! very easy to follow and understand. Super excited to finally enter a loan properly and use the template :)
@SammyTOPTEC Жыл бұрын
THANK YOU!
@ecquickbookstraining Жыл бұрын
Welcome!
@livsambo3 жыл бұрын
Thank you very much for this video. It has helped me alot.
@ecquickbookstraining3 жыл бұрын
Glad it helped!
@Kim-ml6iq4 жыл бұрын
Excelent explanation!
@ecquickbookstraining4 жыл бұрын
Thanks!
@leadergeovanni77406 ай бұрын
This should have 44k likes!
@ParisL032 жыл бұрын
Thank you so much I was having a hard time trying to figure this out. My question to you is I'm new to QuickBooks checking my books from last year which were mostly done by my accountant's secretary I only wanted the expenses. I don't see that account been recorded and we did purchase a vehicle in 2020 can I enter it myself so I can keep a record of loan and payments? Thank you 😊
@impactodelsurenterprise24403 жыл бұрын
How do you do this using the fixed assset manager?
@krystalwathen85235 жыл бұрын
This was very helpful. How would I record a payoff to the current loan due to refinanced with another bank and enter in a new loan?
@ecquickbookstraining5 жыл бұрын
You can do a journal entry, Create a new liability account for the new loan, Credit the new liability account and debit the old liability account. Then you just start making payments to the new liability account
@blancadiaz8522 жыл бұрын
Do i record anything in fixed asset for the vehicle once it is paid off?
@richwahneEXPERTSmadeEasy11 ай бұрын
Your download spreadsheet is set up for 60 months - how do I change it to reflect a 72 month loan?
@forestminer4 жыл бұрын
Thank you!
@josealba995 жыл бұрын
how do you record sales tax on the general Journal entry
@blancadiaz8522 жыл бұрын
Could you do a step-by-step video on how to do a purchase a home? A client buys houses to flip, but he has two that he has kept, but there were no payments. They were bought with cash.
@farrarjo15 жыл бұрын
This was very helpful!!
@FernandoLarez4 жыл бұрын
Thanks!
@otiliobanda72125 жыл бұрын
Very Helpful, thank you so much :)
@gtgigi693 жыл бұрын
Thank you for this awesome video, is it the same when you leasing a company truck?? I’m a small trucking company and we have 2 trucks that we are leasing to a owner operators Can someone please help?
@mariadelara14464 жыл бұрын
Liz thank you so much!! You made it very easy to understand. I would like to know how can I enter more than one equipment loans?
@ecquickbookstraining4 жыл бұрын
Your Welcome. Maria good video suggestion.
@mariadelara14464 жыл бұрын
EC QuickBooks Training hopefully you get to make a video . That would help me a loooooot!!!
@mirnabenitez199312152 жыл бұрын
would it be the same for a truck lease ?
@user-vp3vo3qz2d11 ай бұрын
My accountant wants me to break down the purchase price, sales tax, down payment, trade in prior depreciation and then record the loan with ST and LT can you help me record thank you
@texascorporatehousingsolut59682 жыл бұрын
Hi! Super helpful! Is there any way to get the template with active formulas?
@darkfire_05792 ай бұрын
what about depreciation?
@ahlamkhaldon18444 жыл бұрын
thank u very much
@baifo39043 жыл бұрын
You didn't record your tax itc on purchase of the truck?
@deneslengyel40314 жыл бұрын
Good morning Liz When you are entering your vehicle into the GJ does the starting total of $26,598.19 include the taxes and the interest your are paying as well?
@ecquickbookstraining4 жыл бұрын
Yes you include taxes. Interest is recorded when you do your monthly payment.
@brendascally1163 жыл бұрын
very nice demonstration, but how do you account for the dealer fees and the sales tax?
@marcosdellavalle23093 жыл бұрын
so total purchase includes sales, tax dealers fees, docs etc..?
@user-mb5ut7ld7p Жыл бұрын
How can I record a cash loan from a family member to a business with an interest of 5%?
@MuhammadUsman-ft2iu4 жыл бұрын
I haved purchased a car, which is down payment is 3 lac and installment is 27000 of per month. Total Value of car is 18 lac.. no interest... What should be the entry all of this? please tell me in reply
@henrychou76885 жыл бұрын
Is it possible to create Fixed Asset and main account and the other two (liability and interest) under it as sub-accounts?
@serviceservice90264 жыл бұрын
Great video! How do I record a trade in?
@skimflick4 жыл бұрын
Do you also have a tutorial if down payment includes a trade-in?
@dominionsiteoffice12953 жыл бұрын
Hai, How to create a Payment Schedule for any Applicant if a Property is sold out to him on Installment
@anjanettemercer41473 жыл бұрын
Hello, this was a good video; I am trying to reorganize my Quickbooks. No one taught me how to use it; I just jumped in and have been using it for a few years; it serves its purpose for keeping my books and payroll straight, but when I run reposts things are off, and that's because my accounts were not set up correctly, in the begin. I have 3 questions: 1) I pay more than the minimum payment on my vehicles, wha is the correct way to record the extra principle payments? (Should I add the principle to my spreadsheet calculations and use that information moving forward). 2) I purchased 2 trucks at the same time. The loan companies are different. Should I keep it how you have it (3) account set up or name the vehicles #11 & #12 and create(6) accounts to keep everything separate? 3) do you have a video on the best way to set up, name, and number your chart of accounts (101 Chart of accounts for Dummies)? LOL Thanks again for your time and expertise.
@ecquickbookstraining3 жыл бұрын
Hi Anjanette, If you pay more that what is due. It will go towards your principal. Yes, Keep each vehicle separate on your balance sheet.
@anjanettemercer41473 жыл бұрын
@@ecquickbookstraining thank you so much
@anjanettemercer41473 жыл бұрын
@@ecquickbookstraining THANK YOU
@veronicacoldiron73935 жыл бұрын
This was VERY helpful! I am re-working the Chart of Accounts at a trucking company and they have each individual truck listed as an expense line item on the GL. Should the individual trucks be entered as assets, or line items, or both?
@ecquickbookstraining5 жыл бұрын
They Should Be Assets. Any expenses for the trucks such as gas, maintenance will then go on an expense account.
@veronicacoldiron73935 жыл бұрын
@@ecquickbookstraining Thank you!
@jojobetzy3 жыл бұрын
how to download the excel sheet?
@joannamilligan6895 жыл бұрын
Hi Liz. This is exactly what I was looking for, except that in Canada we have H.S.T. I'm not sure how, or at what point to record that tax. Any idea? Thanks ....Joanna Milligan
@ecquickbookstraining5 жыл бұрын
Tax for any asset purchase is part of that purchase price I would include it in the numbers when recording your vehicle purchase.
@indiraramos59833 жыл бұрын
how to record down payment if you paid with credit card?
@jacobmayorga97034 жыл бұрын
How do you properly record the sales tax paid on the vehicle? My CPA says that I need to input the sales tax paid on the vehicle in QB as well. It's confusing because it's rolled into the auto loan obviously, so I'm not sure how to do this. Any help you can offer is much appreciated. Thank you!
@ecquickbookstraining4 жыл бұрын
Yes, it would be the purchase price plus any sales tax and other fees you paid that need to be recorded. It should all be broken down on the contract I believe the Total Cash Price on the contract includes sales tax. Many record the purchase price only without including sales tax and other fees.
@amberprice4075 жыл бұрын
How would you record the truck payoff if another loan was obtained to pay it off all together? Thanks!
@ecquickbookstraining5 жыл бұрын
You can do a journal entry, Create a new liability account for the new loan, Credit the new liability account and debit the old liability account. Then you just start making payments to the new liability account
@amberprice4075 жыл бұрын
@@ecquickbookstraining Thank you so much!!
@beyenetekle84295 жыл бұрын
Thank you Liz. [1] Is the fixed asset account going to stay as $26,598.19 on Balance sheet ? [2] When is going to change reflecting loan payments, interests, or depreciations ?
@ecquickbookstraining5 жыл бұрын
Fixed asset will not change only liability, but you will also do depreciation against the asset
@guyD0 Жыл бұрын
@@ecquickbookstraining do you have a video on that?
@pervezkhn5 жыл бұрын
Nice video
@lindamister53825 жыл бұрын
Where is the link to excel page
@ecquickbookstraining5 жыл бұрын
bit.ly/2Ln5Rgl
@pervezkhn5 жыл бұрын
I am from Afghanistan and want to make payroll liabilities in QB so kindly make a video on this the tax rates on payroll is For monthly payrolls Income more than Income up to Tax 0 5000 0 5,000 12,500 2% of amount over 5,000 12,500 100,000 150 + 10% of amount over 12,500 100,000 Above 8,900 + 20% of the amount over 100,000 I have ask many experts but couldn't answer so kindly make a video on this
@ecquickbookstraining5 жыл бұрын
Yes I can. I will be answered on 11/29/18
@ecquickbookstraining5 жыл бұрын
Hi Pervez here is your video request kzbin.info/www/bejne/m5ytlqR7qLuBias