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CPA: How do i categorize Directors contributions to the business as its showing as sales?

You should check with a cpa there in the UK.  In the US,…

You should check with a cpa there in the UK.  In the US, a director can loan money to the corporation (ltd), or buy shares of […]

Resolution for 'CPA issue: 'How do i categorize Directors contributions to the business as its showing as sales?' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'How do i categorize Directors contributions to the business as its showing as sales?', click the link below:

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CPA: Inventory

Yes

You need to do a retroactive inventory adjustment to create enough stock at the beginning of the invoice list so that the subsequent invoices can sell those items without going negative.

If you have not already done so – run an item sales report for the period in question so you […]

Resolution for 'CPA issue: 'Inventory' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'Inventory', click the link below:

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CPA: How can I show the transferring of funds between different companies in the Chart of Accounts?

It really depends on the relationship between you and each entity, and the details of each entity.

For instance, there is no Owner in a corporation; you would be a Shareholder, and might not be the only shareholder. Corporations are their own people; the Supreme Court told us so. This is […]

Resolution for 'CPA issue: 'How can I show the transferring of funds between different companies in the Chart of Accounts?' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'How can I show the transferring of funds between different companies in the Chart of Accounts?', click the link below:

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CPA: Does Your Business Use Cash or Accrual Method Accounting?

My business is cash basis as well.  Many of the businesses I work with are the same.  They are mostly small businesses.  The CPA actually recommended this to me way back when I started the business.

 

I think accrual basis gives you a true picture, real time of how you are […]

Resolution for 'CPA issue: 'Does Your Business Use Cash or Accrual Method Accounting?' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'Does Your Business Use Cash or Accrual Method Accounting?', click the link below:

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CPA: How to handle distributions in excess of retained earning in quickbooks

You should never take distributions in excess of basis.  And you (or your CPA) should be tracking basis carefully.

Generally if a shareholder takes dist in excess, I will reclassify the excess distribution as a loan to shareholder.  Then the following year instruct the client to take no distributions until income […]

Resolution for 'CPA issue: 'How to handle distributions in excess of retained earning in quickbooks' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'How to handle distributions in excess of retained earning in quickbooks', click the link below:

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CPA: how to categorize cable tv expense

I’m a CPA. I call it “in-store entertainment” or similar. This is to distinguish from “meals and entertainment” (which means you are wining and dining someone). Because “meals and entertainment” is only 50% deductible, but your pub cable bill is 100% deductible.

Resolution for 'CPA issue: 'how to categorize cable tv expense' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'how to categorize cable tv expense', click the link below:

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CPA: the girl that worked here before me, would enter the bills into QB, but never paid from the bill pay. How do I get them out of my A/P without messing up my books?

The books are already a mess. The same details on the Checks as on the bills = duplicate data.

If this is a cash basis entity, and all of these bills list Expense, then they would not have shown on the P&L and as long as no one used AP for […]

Resolution for 'CPA issue: 'the girl that worked here before me, would enter the bills into QB, but never paid from the bill pay. How do I get them out of my A/P without messing up my books?' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'the girl that worked here before me, would enter the bills into QB, but never paid from the bill pay. How do I get them out of my A/P without messing up my books?', click the link below:

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CPA: Loan from Shareholder vs Capital Contribution in relation to Total Equity and Taxes

To start, I’m not a CPA, but I’ve passed all the tests, have the educational requirements and experience requirements. I’ll be submitting my packet by next month. So, I’m not quite there, but I’m also not just spouting off crazy advice.

 

If you convert your loan from a loan to a […]

Resolution for 'CPA issue: 'Loan from Shareholder vs Capital Contribution in relation to Total Equity and Taxes' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'Loan from Shareholder vs Capital Contribution in relation to Total Equity and Taxes', click the link below:

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CPA: Laptop crashed, bought new laptop. Using QB since 2007. Can’t find original disc. Will QB 2019 let me upload all previous information?

I cannot guarantee that QB2019 will directly open a company file created from QB2007 or even accept a restore from a backup. Yopu are talking 12 years, 12 different upgrades, possibly a change in database type along that way. It certainly is time for you to move to a new […]

Resolution for 'CPA issue: 'Laptop crashed, bought new laptop. Using QB since 2007. Can’t find original disc. Will QB 2019 let me upload all previous information?' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'Laptop crashed, bought new laptop. Using QB since 2007. Can’t find original disc. Will QB 2019 let me upload all previous information?', click the link below:

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CPA: We paid for our shop as we could afford it, this all happened before I started using QBs. What account do I set up for where the money came from for the shop? Thank you

Where the money came from historically is moot, now.

What you should have is Trial Balance information:

Assets

Liabilities

Equity

Your own CPA has been using your info for tax filings. It is either part of taxes, or ask that person to help you out.

Assets = Liabilities + Equity

That’s why it is called Balance Sheet […]

Resolution for 'CPA issue: 'We paid for our shop as we could afford it, this all happened before I started using QBs. What account do I set up for where the money came from for the shop? Thank you' available: Yes.

The CPA issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the CPA issue yourself by looking for a resolution described in the article. If it is a complex CPA issue or you are unable to solve the issue, you may contact us by clicking here or by using other CPA support options.

For more information about resolving issues related to CPA in Quickbooks/QBO or to get support for the issue 'We paid for our shop as we could afford it, this all happened before I started using QBs. What account do I set up for where the money came from for the shop? Thank you', click the link below:

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