Are you confused about payroll deductions and payroll liabilities? If so, don't feel alone! They can confuse a lot of people.
As bookkeepers we see a lot of things that we feel to be "odd" when dealing with payroll deductions. From the normal employee advance and repayments, to deductions for Fed-Ex or UPS fees, tool repayments, voluntary disability payments, you name it!
The question always seems to center around - is this really a company expense and how the heck do I record these transactions? p> Continue reading
10 articles from the web on General Business, Bookkeeping, Accounting, Payroll & Taxes, Construction, Marketing and Social Media Continue reading
QuickBooks, by default, offers a single account called Payroll Expenses in your Chart of Accounts and all of the pre-programmed Payroll Items for wages and taxes are assigned to that one single account. Continue reading
A QuickBooks Payroll Tip for creating a more functional Payroll Liabilities section on your Chart of Accounts in 3 Steps Continue reading
We've compiled a list of daily, weekly, monthly, quarterly, and annual bookkeeping and accounting tasks to help you stay on track. Continue reading
Frequently you will run across a transaction that you just aren’t sure which account you should be posting it too. Often times you end up “just picking one”, and tell yourself that you’ll remember to ask your accountant about it Continue reading
The QuickBooks Chart of Accounts is a complete list of a businesses accounts and their balances. You will use it to track how much money you have spent, how much money you have – and - how much money you owe. Continue reading
It is a common occurrence over time, especially if you have had numerous bookkeepers; to discover that you have duplicate items in your QuickBooks Item List or accounts in your Chart of Accounts. Continue reading
Setting up or modifying an existing Chart of Accounts is not an overwhelming task in QuickBooks. You can add, edit, or merge accounts with a a few mouse clicks. Continue reading
The QuickBooks Chart of Accounts is the framework used to categorize the information and transactions used to create reports. By using a chart of accounts and creating reports, you will always know the current state of your business. Continue reading