I am new here so I hope that I ask the right questions to get the right answers. Hope this works!
I have a client that has a small business that she conducts from her home. Once I establish what her square footage is of the home and the office space used. How do I enter the mortgage payment (interest and principal) utilities, etc into Quickbooks. What should the journal entry be? Please not that she has had this business for 3 years and has not filed taxes since 2005. The business started in 2006 and no taxes have EVER been filed and no accounting system ever used.
I am now entering all the information that she has kept on this business into Quickbooks and have come down to the mortgage payments and utility payments, car expenses etc. Can someone help me?
ncsage..... in NC
I have a client that has a small business that she conducts from her home. Once I establish what her square footage is of the home and the office space used. How do I enter the mortgage payment (interest and principal) utilities, etc into Quickbooks. What should the journal entry be? Please not that she has had this business for 3 years and has not filed taxes since 2005. The business started in 2006 and no taxes have EVER been filed and no accounting system ever used.
I am now entering all the information that she has kept on this business into Quickbooks and have come down to the mortgage payments and utility payments, car expenses etc. Can someone help me?
ncsage..... in NC