DO NOT DO THIS in QuickBooks (When Adding Bank Transactions)

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Күн бұрын

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Additional Videos:
How to categorize Transactions into QuickBooks using Bank Feeds: • QuickBooks Online Tuto...
Most Updated Bank Feeds Tutorial (June 2020): • QuickBooks Online - Im...
Advanced Bank Rules Update: • QuickBooks Online: Ban...
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Table of Contents:
00:00 The wrong way: Skip Payee Names
05:12 Using Reports to inspect categorization
06:53 Expenses by Vendor Summary
07:53 The correct way!
08:35 Outro

Пікірлер: 267

@NinaRossBusiness 3 жыл бұрын

Thank you for the clarity. My current Clients use QB Desktop. I now have a Client that uses online. Your channel is bringing me up to speed. 👍👍

@MichaelBnothere 3 жыл бұрын

I learned the hard way when first starting with QuickBooks to be patient with it and build a good foundation. Once you have that it's all good. I wish I would have saw this video first. But you are correct

@lucildarosa6184 3 жыл бұрын

Thank you Hector for all your videos. Great explanation

@beckyh3041 3 жыл бұрын

Oh my word! I love you made this video because I am spend time explaining to my clients that you don't just go in to their bank feed and click Add!!!! There is more to it then that. Thanks!

@HectorGarciaCPA 3 жыл бұрын

Yea it’s such a pain

@shonagraham5243 3 жыл бұрын

@@HectorGarciaCPA The way they market Quickbooks suggests the ease. Way too intuitive for me. I'm old school.

@205pisces 2 жыл бұрын

Just started QB Online. Only did it to pay my first employee. Just so you know, knowing what not to do is way better than knowing what to do. I'm struggling, but this is a step in the right direction. Thank you so much

@richardnaylor910 Жыл бұрын

I agree. There is not enough "don't do it this way" guidance out there across lots of different services. It's as valuable as the "do it this way" advice for sure.

@angelhodgdon1127 2 ай бұрын

@@richardnaylor910 Especially if a client (or yourself) has already done the bank feeds "The Wrong Way" and now you have to sort it all out. It does help Soooo much to know what was probably entered wrong. Thanks again Hector. It's now 2024 and this video is Still Helping people. : )

@fallsvitalaccountantservic9284 3 жыл бұрын

Great information Hector. It does makes lots of sence to have the Payee with all the transactions. Thank you

@HectorGarciaCPA 3 жыл бұрын

Oh yea.

@yolibethbenitez5164 Жыл бұрын

You’re a great teacher, I’ve learned a lot from you.

@changingmyself 2 жыл бұрын

Hector, I recommend people to watch your videos almost every day to learn how to use quickbooks, you are excellent to watch and learn from. Thank you for making these!

@HectorGarciaCPA 2 жыл бұрын

You welcome

@LuisPerez-vu1jm 2 жыл бұрын

Thank you for Taking time out of your busy schedule to help us. I am new to Quick Books. Need help downloading, classifying, and Reconciling.

@massavincy 2 жыл бұрын

You're a great teacher (speaking as a teacher myself)!! I am now, however, an accountant or bookkeeper and your video is SOOOOO helpful. I agree with other comments that as newbies it's very helpful to also know "what not to do." Very. Keep up the good work.

@HectorGarciaCPA 2 жыл бұрын

Great!

@sandykaur1099 3 ай бұрын

@@HectorGarciaCPAI did something wrong…could you please help me out with this please

@19buttercup 3 жыл бұрын

I'm new at learning QBO and this video really taught me a lot! I was making assumptions that QBO was categorizing the bank feed for me, but QBO does some strange categorizing on its own. I spent hours and hours undoing the "adds" without looking at each transaction carefully. Silver lining: it taught me a lot and I think I can offer a clean-up service when I go into business for myself as a virtual bookkeeper (targeting first of 2021 to start my biz). I am going to watch your other bank feed videos to gain more knowledge. Thanks Hector!

@HectorGarciaCPA 3 жыл бұрын

Great!

@vickimurphy5183 2 жыл бұрын

If you haven’t taken the very first accounting class, Principles of accounting, I would take at least that class if you are considering offering bookkeeping services. Make sure you have a very good understanding of double entry accounting and GAAP principles. Tax returns are built on the bookkeepers work and preparers don’t review the thousands of transactions coded by a bookkeeper; unless asked to audit the work. Because of this my firm only hires bookkeepers with at least a 2 year business or accounting degree to make sure they understand the basic principles of accounting.

@tuckergriffinbeydler3597 2 жыл бұрын

Did you start your business?

@safeerullah2003 Жыл бұрын

Hi. Any way to undo all added transections in one short.or only way to undo one by one?

@juliepowell6622 3 жыл бұрын

Easy to comprehend and easy to do, thanks.

@crashkahuna 3 жыл бұрын

Really good points. I wish there was a Vendor/Customer Required option like there is for class. We are cleaning this up now.

@HectorGarciaCPA 3 жыл бұрын

Agreed

@lachulismakeup8643 3 жыл бұрын

Very helpful, thank you for explaining it

@tannertucker22 3 жыл бұрын

Thank you. Also a cpa. Some functionality is a blessing and a curse. Good explanation.

@arlenegriffin4523 3 жыл бұрын

Love your Videos and they are so helpful because I am thinking of a home bookeeping business. I hate retirement and need to work. Great way to keep busy. Thank you so much.

@HectorGarciaCPA 3 жыл бұрын

@CecilleTabuena_godissogood 2 жыл бұрын

As a Bookkeeper, I see to it that there should be a Payee listed on every transaction for easy monitoring/tracking purposes whenever there is something to check with. Thank you so much, Hector. 👍😊

@HectorGarciaCPA 2 жыл бұрын

Yeap

@jaynefranzinoromero1640 2 жыл бұрын

Thank you, Hector!!

@misskristinn 3 жыл бұрын

Amazing video!!!! Thank you Hector. Lifesaving tips haha

@AnnaPrinces2020 Жыл бұрын

Thank You so much for this topic!!!!! I really needed it!

@HectorGarciaCPA 4 ай бұрын

Sure, my pleasure

@donaldsylvester8469 Жыл бұрын

thanks a lot for these tips.....very well worth watching sir.

@crisbergere7788 3 жыл бұрын

Thank you Hector!

@landirover8927 2 жыл бұрын

As always, great stuff 😎

@bordershader 3 жыл бұрын

OMG, I have not long switched from Xero to QBO and this has been confusing me SO MUCH, it all makes sense now! Now I need to disentangle what my clients are doing *cry, weep* 😆 THANK YOU!

@HectorGarciaCPA 3 жыл бұрын

I feel Your pain.

@superjtrdr 2 жыл бұрын

It's a blessing to be able to track all monies going out this way but almost all are incorrectly categorized. One of the tricky ones for me was when I returned an item. That is common in my business. I just screenshot the download then delete it. Then create a vendor credit memo for the amount. I sure hope I am doing it right.

@DreamBuilderIfyoucanDreamitWec 2 жыл бұрын

Thank You, Hector.

@kansassprayfoaminsulationl7808 2 жыл бұрын

You are awesome! This info is Dead ON!!!

@yourdroid3373 3 жыл бұрын

I'm a corporate accountant looking to do some bookkeeping on the side. I don't really use quickbooks and i'm finding your videos very helpful in learning their system and the mistakes clients are likely to make within that layout.

@HectorGarciaCPA 3 жыл бұрын

Yeap.. good luck!

@fanitabohorquez 3 жыл бұрын

Good Tips!!!! Thankyou Hector

@HectorGarciaCPA 3 жыл бұрын

You welcome

@powercommercialwash147 3 жыл бұрын

Hello Hector! Thanks for all the videos you put out! I ran into a problem when I was reconciling. I can't find a couple of months of bank feeds and when I go to reconcile(page) there's a positive difference. There is only deposits listed below.

@DragonHeartTree 2 жыл бұрын

Great video, thanks!

@alexanderl.savage-smith9317 3 жыл бұрын

This was great. Always good to know what to do and what NOT to do. Thanks!

@colombialibre8419 Жыл бұрын

Very good videos I learn a lot with you! Thank you very much!

@HectorGarciaCPA Жыл бұрын

Great

@Oliver-lh8ly 3 жыл бұрын

I am very glad I have not made this mistake. I am new to quickbooks but I cringed when blindly approving everything. lol Thanks for this video, I enjoyed learning more about the functionality of quickbooks.

@theconjuror112 3 жыл бұрын

I love your channel, Hector! Awesome content brother!! 😎👍

@HectorGarciaCPA 3 жыл бұрын

You welcome

@pamj9196 2 жыл бұрын

Hector, you are the best! I refer all my clients to your videos. This one was way fun and, as a bookkeeper, I had a few chuckles. I'm surprised you didn't mention accepting and duplicating credit card payments. How do you like the new "paired transaction" feature? Thank you for all of your excellent instruction!

@HectorGarciaCPA 2 жыл бұрын

I didn’t because i know the paired transaction were coming, so im glad i didn’t cover it now

@Mr.Noones 2 жыл бұрын

Thank you for the quick import list tip…

@kellyv1672 3 жыл бұрын

So helpful!

@crystal227 3 жыл бұрын

Thank you so much!

@janetflowers9009 3 жыл бұрын

Great Advice!

@chloemackie4870 2 жыл бұрын

I have not done this thankfully! Plenty of other mistakes though. One of them was a workaround for things like business insurance and utilities where the vendor changes more or less annually but you want to see all of the suppliers in one place, not least so you can remember who the current vendor is - I now realise tags are the perfect solution for this and I am off to sort that out. It does mean an unmanageable vendor list though, shame its not possible to prioritise these according to frequency/account size...

@HectorGarciaCPA 2 жыл бұрын

If they ever implemente Vendor Type, would be great

@rayevollmer7925 3 жыл бұрын

Hi Hector, do you have a video on how to determine the difference when in the For Review "finding a match" between bill payment and bill june statement? TIA

@ronhoover5516 3 жыл бұрын

Well done!

@certifiedquickbooksintegra6393 3 жыл бұрын

Great explanation

@fortinolopez793 3 жыл бұрын

Excelente información amigo

@ameliafemigullas2308 2 жыл бұрын

thanks for this new learning

@HectorGarciaCPA 2 жыл бұрын

@solallein 3 жыл бұрын

Quickbooks boss sharin all the goods for us little guys. Thanks man

@zofiakolakowska4373 3 жыл бұрын

Hi Hector. How do I fix this error: quickbooks generate zero amount for bill stub payment. Thanks

@demandhomecare Ай бұрын

can you do video on how to use card reader and take on the spot payments

@HectorGarciaCPA Ай бұрын

Interesting request

@akshayparmar2921 3 жыл бұрын

How to remove or delete partially applied transaction in review tab which are auto reviewed by rules (banking?)

@noormotani9719 3 жыл бұрын

I am a new user taking over an existing company on quickbooks. I am a 30 user of Sage 50. Do you have a crash course available?

@GabrielSanchez-pe1cr Жыл бұрын

Thanks for sharing.

@HectorGarciaCPA 4 ай бұрын

Sure, my pleasure

@ronniewright3706 Жыл бұрын

Hi Hector, thanks for putting your knowledge out there. I'm with you all the way on this one. My question is, I have an expense in my bank feed which has been entered and paid, yet when I allocated this transaction to the correct customer/vendor, class, category, VAT etc it's now added it to that person's account. QB was suggesting the wrong person and transaction. I'm thinking that amount is not in twice, thereby overstating our expense? Any tips or help would be much appreciated. I'm not sure you'll see this as this video is 2 years ago, but thought it worth a try! All the best.

@HectorGarciaCPA Жыл бұрын

This happens a lot. You need to create the transaction outside of banking first and then match it

@christalpenaloza7694 2 жыл бұрын

So basically this is like a bank reconciliation. When you do the matching right?

@hediyehfarahnik8273 10 ай бұрын

Thank you for all your help. Please let me know if I can change invoice to the bill on the QuickBooks online.

@HectorGarciaCPA 10 ай бұрын

You cant

@bethdulaney-dowlar6214 2 жыл бұрын

How should I handle payments I receive from our financing merchant to pay customer invoices?

@chucktrotter9699 3 жыл бұрын

9.5.20 Good video thanks

@chrisherring7866 Жыл бұрын

Hey Hector, I have learned a lot from your videos but I do have a question. Is it better to enter the expenses one by one or just categorize them when doing the bank feed?

@HectorGarciaCPA 3 ай бұрын

Bank feed, much faster

@kimberlycary2722 Жыл бұрын

Confusing, but still very helpful 👌

@HectorGarciaCPA 4 ай бұрын

Thanks

@jeremiahruddell6014 3 жыл бұрын

Thank you for all your informative videos. By chance are you located in or near San Diego? I'd like to hire you for some help with my quickbooks. Thanks

@HectorGarciaCPA 3 жыл бұрын

Am in Miami

@olufemiagbato8519 Жыл бұрын

I have a major problem with my QBO Balance being different from my Bank Balance. I have transactions being recorded as duplicate causing my QBO account to be much higher. I have Sales receipts synced from my woocommerce website that show in QBO as deposits. The actual deposits from STRIPE, SQUARE, PAYPAL or Cash Deposits related to the same sale are also shown as deposits. So I am getting some duplicated sales in my QBO. How do I fix this?

@heather7862 2 жыл бұрын

I’m an accounting major and the quick books textbook in one of my classes literally tells you it’s not necessary to enter payee information on an expense form lol. I just don’t feel like it’s complete so I always enter the payee/vendor.

@vickimurphy5183 2 жыл бұрын

They are right that it isn’t “necessary” but that doesn’t change that you have an incomplete database which limits your reports. If someone only cares about taxes and tax categories it isn’t “necessary” but again if they audit you 5 years later you and your client will be glad you entered the extra details.

@njokikaranja3458 2 жыл бұрын

@@vickimurphy5183 Vicky is correct. Entering the vendors will also help you run various reports by ‘vendor name’ so it’s important to include it.

@MrStormCrow 2 жыл бұрын

just because it's not necessary doesn't mean you shouldn't do it. I'm doing every manual entry as I can and receipt for each transaction. I also put a detailed description as much as I can so that I can easily understand my bookkeeping.

@amtax4755 Жыл бұрын

I’m preparing for quickbooks pro advisor certification. The training videos say it’s always a good idea to enter all vendors and as much info as possible for reposting purposes:)

@Luckeydogs 2 жыл бұрын

Thank you

@xochitlreyes1472 3 жыл бұрын

I need a teacher through soom, would you know of a company or a person that can help me individually. Can you do it?

@romanstenseventeen314 3 жыл бұрын

Hector, do you know any resources with practice exercises I can do with QBO? I'm asking b/c I recently got certified with QBO, and would like to work employment with QBO, and need to practice scenarios in QBO.

@HectorGarciaCPA 3 жыл бұрын

I don’t.: just my videos

@charliewilcutt7862 3 жыл бұрын

I am new to QuickBooks I am having troubles getting my US bank into this system , any idea on doing this been watching the video but still not understanding.

@Victor_Finanza_Facil 2 жыл бұрын

Hector this is a great video, I have a furniture store and sometimes i buy products just to have it in stock, how should I categorize this, i created a new item call inventory, but doesn’t show on my expenses, or it shouldn’t show there, don’t know how to categorize, should i count it as a expense of that month? Hopefully you can answer this question, thank you.

@pjnelson8971 2 жыл бұрын

Items that are held in inventory aren't expenses when you purchase them. They become expenses when you sell or use them. Create an asset account for the inventory and expense accounts for the vendors that you purchase the items from. When you buy the items, debit your bank account and credit the current asset account. When you use or sell the items, debit the asset account and credit the expense account.

@kimberlyjohns1111 2 жыл бұрын

Hello Hector. First I want to say I love watching you! I have an issue.... I am a long time QBD user and I just started a new job as handling Property Management. The issue is they have been running everything using class and that is fine. They do not use A/R function or A/P function. It has never been set up. I have tried to explain to the person that is training me. I have not had any luck. I feel I am chasing my tail, when things could flow a lot smoother. Would you have any suggestions for me??? Thank you and Take Care!!

@HectorGarciaCPA 2 жыл бұрын

Class is the correct approach

@aliciavielledent 3 жыл бұрын

Hi Hector, thank you for your video. I love it! I do have one question, hopefully you have an idea of what's going on: I do the bank reconciliations and everything matches with my bank statements, but in the banking tab where it shows the bank balance (in quickbooks) doesn't match at all, and the problem is in the financial statements it shows that balance instead of the one in the "reconcile" tab. Do you how can I fix that?

@HectorGarciaCPA 3 жыл бұрын

I wouldn’t stress what the bank balance on bank feeds say, honestly. The balance sheet is what matters

@aliciavielledent 3 жыл бұрын

Hector Garcia CPA the balance sheet shows the balance in banking feeds, that’s the issue... can I change that?

@HectorGarciaCPA 3 жыл бұрын

Alicia Vielledent then you are fine, if the Banks are reconciled and all the uncleared transactions are deleted and/or accounting for the next period; then you are ok

@ryantunison5433 2 жыл бұрын

As a business owner that still uses QB Desktop, if anyone is doing their own Bookkeeping, I would not endorse automatic entries until you understand by entering manually first.

@HectorGarciaCPA 2 жыл бұрын

Agreed

@garycurtis 2 жыл бұрын

Hector, amazing videos and so helpful, thank you so much. I have a question, When I get paid for an invoice, lets say its 2000.00, but when I deposit it into the bank I get less cash received 1500.00, so I only deposit 500.00, how do I enter that?

@lizevans7060 Жыл бұрын

I'm fairly new to QBO, but I believe you would create a receive payment transaction and have it point to undeposited funds. Then create a bank deposit and select the correct invoice payment. Under the 'Add funds to this deposit' section, itemize your cash back as a negative number.

@vikkipowers7284 2 жыл бұрын

How do I correct it if I put an item under the wrong category?

@mearthastesoros9026 3 жыл бұрын

I can seem to download last year transactions. I filtered to last year and still nothing🤯 i updated and nothing😫

@billrobinson198 2 жыл бұрын

When I tag an entry from my Profit and Loss, it gives me the error message: The transaction you are editing has been reconciled. Saving your changes could put you out of balance the next time you try to reconcile. Are you sure you want to modify it? I thought you said it doesn't change anything in the postings? What gives?

@olgag872010 3 жыл бұрын

Question, for a Construction company, they pay a Bond, which is like an insurance is what I'm told. How would that be entered or what is the chart of accounts code for it? Prepaid or Liability?

@HectorGarciaCPA 3 жыл бұрын

Expense if it’s just for current year.. if it’s for next year, do prepaid

@TheLordIsMyStrengthSallyMoreno 2 жыл бұрын

Hi Hector, this was very helpful. I do have a question, I'm helping a good friend, she had Quickbooks Desktop, but changed to Online Plus. We integrated the old to the new. Now we need to unreconcile all of her bank statements. I need help can you please give me some ideas?

@HectorGarciaCPA 2 жыл бұрын

There is another video on “undo reconcile”

@darwingallardo3204 3 жыл бұрын

thanks

@renovativehome 3 жыл бұрын

Please could you tell me how to allocate transfers between bank accounts? Or do i just 'exclude transaction'? I use QB app for self-employed. Thank you.

@HectorGarciaCPA 3 жыл бұрын

I don’t support Self-Employed. But yes sounds like excluding would work

@renovativehome 3 жыл бұрын

@@HectorGarciaCPA okay, thanks so much.

@dinage766 2 жыл бұрын

What is the best practice to offset AR with AP when a customer is also a vendor on Qb online?

@pjnelson8971 2 жыл бұрын

I am assuming that the expenses are being withheld from the income.. Create items for the expenses and link those items to the specific expense accounts that you wish to apply them to. Then, when you have an income invoice created for that customer, enter in the expenses using the items that you created and enter the dollar amounts as a negative number. It will debit those amounts from the invoice and credit the proper expense accounts.

@vsusanAdmin 3 жыл бұрын

Thanks for the vid once again Hector. QBO does not give us the choice to batch add payee name

@HectorGarciaCPA 3 жыл бұрын

That’s right... that tool doesn’t exist

@rebeccamclelland9499 3 жыл бұрын

Is there an easy way to upload the transactions for this year (2021) from my old company file to a new company file? I am now using QB Pro 2021 Desktop.

@HectorGarciaCPA 3 жыл бұрын

Not easily; but you can condense the file and eliminate all the transactions prior to 2021

@elilourdes9778 2 жыл бұрын

Please share link to upload bank feeds properly

@henrypekarsky4749 3 жыл бұрын

I am the Business Manager at a church and my staff was using desktop quick books. We have now switch over to the online plus. Can we do Fund Accounting with QuickBooks Plus. If not what would be your recommendations to do fund accounting. Hank

@HectorGarciaCPA 3 жыл бұрын

QBO plus can do fund accounting with classes. Yes

@angelajoseph6112 2 жыл бұрын

Hi when I run a profit and loss statement, it does not show all my transactions, such as my personal expenses. Why is this

@Jim.Hummel 3 жыл бұрын

Agreed...Add the details necessary to get good data out. It literally only takes moments! I have a question, that I have been unable to get a clear answer to...I have an accountant with who I've worked for many years. I would like to take over some of the grunt work without having to create things from scratch. Is it possible for my accountant to export my company "file" (past transactions, COA, etc.) and then for me to be able to import that into QBO? Does it matter if he's using a desktop version of QB Accountant? Many thanks in advance. I look forward to exploring your YT channel.

@HectorGarciaCPA 3 жыл бұрын

It could be completely converted to qBo from desktop.

@Jim.Hummel 3 жыл бұрын

@@HectorGarciaCPA - AWESOME! Thank you!

@donnabradshaw9390 2 жыл бұрын

Can you attach receipts from the bank 🏦 download screens. Right now I have to import the items, then go to the register, and open often and attach receipts. I use Desktop. Would QB on line make this easier?

@HectorGarciaCPA 2 жыл бұрын

Yes it would

@ahmedali-ok2lv 3 жыл бұрын

Hey Hector hope you are doing well. I have this query when i Link my bank statement in QuickBooks online. It automatically put the transactions in relevant heads. And when i categorize the transactions, duplication arises and few of entries balances come as double. My question is how do I disable that auto putting of balances from bank. Thanks

@HectorGarciaCPA 3 жыл бұрын

You would need to disconnect bank feeds and enter it manually in the register.

@ahmedali-ok2lv 3 жыл бұрын

@@HectorGarciaCPA how do i do it

@uroospunyali8861 3 жыл бұрын

Hello, my great tutor Hector. I need your help. As I have mentioned earlier that I am new for Quickbooks online. I was following your presentation and adding and matching the bank with Quickbook, I wanted to open the transaction, but I click add on the transaction by mistake without matching it and the transaction disappeared from the bank feed. How do I find out that transaction and undo it? Please help me. I shall highly appreciate it. Thanks.

@HectorGarciaCPA 3 жыл бұрын

It’s in the tab called “entered” or “reviewed” inside the Bank Feeds area

@christajo Жыл бұрын

After connecting bank feeds, CC, POS, etc, QB has created thousands of duplicate transactions (it was reconciled correct) What's the best way to reset? Start over? Journal entry. The books are insane no joke 🤯

@HectorGarciaCPA Жыл бұрын

Probably start over

@markchristiandelacruz5148 3 жыл бұрын

Is there a way to check IP Address of user activity in QBO? NEED YOUR HELP PLEASE!

@HectorGarciaCPA 3 жыл бұрын

I don’t know

@GUITARMOVIL 2 жыл бұрын

Hello Hector i just want to ask you that is is possible to change the date that I want the transactions appear in Banking, when I link a bank account in Quickbooks?

@HectorGarciaCPA 2 жыл бұрын

Yes can edit them after you bring them into banking

@MelissaNY-Reviews 2 жыл бұрын

I have converting many companies from manual to computer accounting, using many different software. I tell every Garbage in , garbage out. If you don’t enter as software ask (such as client/vendor information) you will create more work for yourself. You do t know the value of you client in AR, or you’re not prepared for IRS audit because you didn’t process W-9 then 1099- Misc at year end.

@HectorGarciaCPA 2 жыл бұрын

Exactly

@tomochieng4298 19 күн бұрын

Kindly help me like imported data to the quick books I realized that their are uncategorized transaction how can I categorize the transactions then add please ?

@HectorGarciaCPA 19 күн бұрын

You can UNDO the categorized transactions and re-code them

@sader4920 2 жыл бұрын

Dear Mr. Garcia, I made this exact mistake but in the Accountant Desktop 2022 version. Some of the "Payees" aren't even in the vendor list and the wrong category has been added. What is the best way to remedy this error?

@HectorGarciaCPA 2 жыл бұрын

You have to go back and add the vendors

@lawrencessprueljr.5264 Жыл бұрын

Hector, I am a fan. I just started using the online view. What do I do if the accounts were linked and then the connection was lose. when I connected again it created new accounts and it is not accurate?

@HectorGarciaCPA Жыл бұрын

You need to try to reconnect to the first account, dont create new accounts

@byronentz2016 6 ай бұрын

Thanks Hector, One question regarding Vendors.... How would you enter this transaction. Traveling thru a town in the middle of nowhere, Never coming back and you eat at a restaurant. Wouldn't QBO get loads of vendors that are unneeded? Personally, I don't want to have 45000 vendors to look at .

@HectorGarciaCPA 6 ай бұрын

I like entering all the vendors. But you can call it “Misc Restaurant”

@mloza112 2 жыл бұрын

Hello Hector! I recently started watching your videos and I hate to admit that I have been doing it all wrong. I was doing it on my phone and it is very limited what you can do though your phone. Where can I begin to clean up? Specially because all my balances are wrong. I’m very tempted to starting all over for this year but I do not want to lose all my info and receipts. Is there a quickbooks online book that helps you on how to use quickbooks? I didn’t imagine it’d be this hard.

@HectorGarciaCPA 2 жыл бұрын

There is no book to show you how to cleanup… it’s different in every situation. You might need a pro to help you cleanup

@mloza112 2 жыл бұрын

@@HectorGarciaCPA thank you so much for responding! & maybe not a book to show me how to cleanup but the basics and everything to know about quickbooks online.

@traceyweber140 2 жыл бұрын

@@mloza112 If I may I have a suggestion: Andi Smiles has an on-line course $99 she explains everything in terms I could understand and it is step by step. Worth every penny. This is my personal opinion I have no affiliation (thought I better mention that). She also has freebies. Out of all the videos I've watched Hector is my favorite. The one thing I do know about Quickbooks is that it is not quick, lol.

@mloza112 2 жыл бұрын

@@traceyweber140 definitely! Most of the time I am quick to learn every program but this one definitely got me going crazy! Thank you so much. I will look into it!

@subs4stella31 Жыл бұрын

Hector, How do I record deposits done by both cash at bank and from my franchisor? They deposit weekly and then deduct royalties. Do I make an invoice for weekly sales? I was putting into a wash account and I was deducting sales and then I had large negative balances everywhere. I had to start over from 2 yrs of transaction! Help

@HectorGarciaCPA 4 ай бұрын

I would need to look at it. Its not super obvious to me

@jesuscabrera3976 3 жыл бұрын

When you are adding the information from feeds how important for you is to add the source document as an attachment?

@HectorGarciaCPA 3 жыл бұрын

Nope important at all

@jesuscabrera3976 3 жыл бұрын

@@HectorGarciaCPA I always thought that it was a must-have so the expense can be properly supported since bank or credit card statements don't tell you much information apart from that it was paid. so I guess my follow-up question is, does IRS/CRA accept expenses supported by bank or credit card statements? Thanks for your answer!

@melissacole4903 2 жыл бұрын

@@jesuscabrera3976 from my experience with FAR audits, receipts need to be maintained in hard copy or electronic. I am curious if statements alone are somehow acceptable for audits.

@wenom7286 3 жыл бұрын

I have a !Paid (In review) I can't remove from my invoice list for one of my customers - 2 payments for one invoice - both cleared the bank why does this linger?

@HectorGarciaCPA 3 жыл бұрын

Not sure if it’s related to the iPad. They linger because they are probably duplicated.