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Linda Saltz, CPA, QBalance.com

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QuickBooks best practices, troubleshooting, accounting, tax We have over 70 pages of website content about QuickBooks tips, running a business, tax and business startup at http://www.qbalance.com

Bernie Akporiaye

U.S.
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Questions relating to budgeting and planning software and other Enterprise Performance Management questions in general.

Recent Answers

2017-03-04 Hire Purchase:

Is the Toyota on the books as a company car? I don't know how the loan could   exist on the books without the car also being included on the books.   You can check the fixed asset schedule that comes with

2017-03-02 Purchase of Land:

Yes that is right,    Set up a new account (if you dont have one already) call Land  type = Fixed asset.  Land is not depreciated.     If later you should begin building on the land, set up a other current

2017-02-27 Purchase of Land:

Hi FA,     No do not treat as a fixed asset yet.  It is considered a "deposit".  I would set up a new account called Deposit on Land,  it is a current   asset type of account.  Post the payments to that

2017-02-20 Profit:

Hi FA,     Your goal is to have the profit and loss represent a true statement of net income.   So the best review is to make sure you have accounted for all your balance sheet accruals   correctly.  

2017-02-17 Opening Balance:

So when the check was written to petty cash to reimburse it,  what expense category did you use  to code that check?   Whatever that expense account was,  that is the one you need to use.   You should

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