USA Quick Books Online - Desktop Version

Joined
May 25, 2021
Messages
7
Reaction score
0
Country
United States
First and foremost, would anyone be so kind as to walk me through the steps necessary to create an accumulated adjustments account on QBO desktop version?

Also- from a technical perspective I would like to make sure my accounting logic is sound. For an S-Corp, we will cost all state and federal income taxes to this accumulated adjustments account as these are non-deductible expenses that we do not want to effect the shareholders basis, correct?
 
Joined
Jun 7, 2022
Messages
2
Reaction score
0
Country
Puerto Rico
Creating the account is not a complicated process. But not sure what type of account you are considering to be (Current Asset, Income, expense, long term asset or just a liability account. Please reply.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top