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How to Enter a Deposited Check that Needs to be Refunded in QuickBooks
Published 07/31/2010 | 
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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How Do Balance Sheet Balances Affect Year-End Closing Entries in QuickBooks
Published 07/30/2010 | Balance sheet balances don’t affect the closing entries. Only profit & loss balances do. The accounting behind the closing entry is an adjustment to reduce all the revenue and expense accounts down to $0 (which adds up to net income) and moving it to the QuickBooks created retained earnings account, even if you’ve re-named it something else. This allows you to start the new fiscal year with $0 revenue and expense balances.
Note: I normally rename my nonprofit clients' retained earnings account “Need to Allocate” since it needs to be allocated between your unrestricted, temporarily restricted and permanently restricted equity accounts.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
QuickBooks price list | Buy QuickBookse | Free trial of QuickBooks POS | Free trial of QuickBooks Enterprise
How to Book Loan Repayment in QuickBooks
Published 07/29/2010 |
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
QuickBooks price list | Buy QuickBookse | Free trial of QuickBooks POS | Free trial of QuickBooks Enterprise
How to Void Paychecks Already Sent to Assisted Payroll in QuickBooks
Published 07/28/2010 | _____________________________________________________
You can void a paycheck after you send it to the Assisted payroll service. If the void is received after processing begins, tax funds may be applied to future payrolls in the same quarter. If the paycheck is in the last payroll of a quarter, tax funds may be refunded by the taxing agencies and an amendment may be required to correct tax filings.
If an amendment is necessary, contact QuickBooks Assisted Payroll support to start the amendment process. (You may be charged a fee for this service.)
Note: We recommend that you back up your data before you void paychecks.
To do this task:
- Go to Employees > Edit/Void Paychecks.
- Enter a date range in the Show paychecks from and through fields, and press the Tab key to display the checks.
- Select the paycheck(s) you want to void.
- Click the Void button.
- Check to make sure that VOID: is shown in the Memo column and the net amount of the check is now 0.00.
- Once you have read the message that appears, check the checkbox and click Continue. These messages vary based on the check date and the time you start the void process.
- In the Confirmation and Next Steps window, click Send Information to Intuit to ensure that your voided paycheck information is sent to the payroll service. You will need to provide your Payroll Service PIN.
- Click Done to close the Edit/Void Paychecks window.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
QuickBooks price list | Buy QuickBookse | Free trial of QuickBooks POS | Free trial of QuickBooks Enterprise