Recent content by Lauren W

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    USA Quickbooks Report for all items used in 2018?

    Hi all, My bosses have decided they'd like to recategorize all of our items into accounts that make more sense to give information on the business. So rather than be grouped by vendor as sub accounts of product on the chart of accounts, they'll be listed by business type, which would be a lot...
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    USA Is the cost of QuickBooks a prepaid expense? Fixed Asset?

    We purchased our new license for Quickbooks this month, and I'm trying to determine if it should all be expensed now, classified as a prepaid expense, or classified as a fixed asset and depreciated? I believe the license is good for 3 years, however it has no residual value that I know of once...
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    USA Changing Depreciation Policy?

    Hi Guys, thanks for the help on past questions as I continue clean up from the past "accountant" at my company. The previous gall included EVERYTHING as assets on the depreciation schedule, including things like a $100 phone headset, or a cell phone for $145. I'm changing their policy going...
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    USA Deleting old Open PO's

    Using QuickBooks Premier. Will deleting old Open PO's (some with partial receipts) in past periods affect our financial statements or anything else? Trying to clear out a bunch of stuff that's just sitting there and will never be used/completed, but want to make sure I'm not going to screw...
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    USA Sales Tax Payable doesn't match Sales Tax Liability Report

    Trying to enter our sales tax payment (made online through the state website), but having a problem where the "pay sales tax" window is showing vastly different amounts than the sale tax liability report. I've checked the date ranges, and that both are pulling on a cash basis, but still not...
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    USA eliminate CC Payment from reconciliation

    While reconciling the current credit cards, I notice that one has a payment applied in a closed period that cleared the bank account but never showed up on the credit card statement. (This happened before I took over their books, and I've waited a bit to see if it pops up somewhere but nope)...
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    USA Prepaid expenses from Retained earnings?

    Once again I'll preface this by saying I've taken over accounting for a company whose previous "bookkeeper" was self taught and had no oversight in her 25 years with them. There's a lot of weird things going on. I'm still working on cleaning up the balance sheet and I'm on to Prepaid expenses...
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    USA Quickbooks and Bill.com: Purchase Orders

    We are trying to start integrating Bill.com for help with our payables system. A little back history, this company has previously done everything on paper in one office. Now, we're trying to deal with bills coming to office A and needing to be paid from there, but needing to be approved in...
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    USA Book vs Accumulated Depreciation

    I've just started a new job with a small company going through a major transition - a corporate buyout and complete overhaul/cleanup of their accounting. Previously the now-bought-out owner had been doing all the books and the new owners have brought me in to take over. I should also mention the...
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    How did I not think of this before?

    So I'm an accountant, with just a few accounting-knowledgable friends leftover from college, and I'm always wishing I had more people to ask when I get stuck on something new/odd. I worry my friends will say something like "how do you not already know/remember this" and that I'm asking a dumb...
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