Ask the Accountant: Can I Move Order History to QuickBooks?

Ask the Accountant… Question: I am thinking of converting from another industry software into QuickBooks Online. Can I move my order history from my old system into QuickBooks? Answer: I get this question often when discussing system conversions with distributors. Unfortunately, you cannot move order history from another order management system into QB. You can, however, move your Customer and/or Vendor List from your current system into QBO, although I strongly suggest you clean up your lists before making this move. If you are currently in QB Desktop (Pro, Premier…

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Ask the Accountant: What Is Equity, And How Is It Different from Assets?

Ask the Accountant… Question: What is equity in my business and how is that different from assets? Answer: In accounting, equity is assets minus liabilities. Equity is the portion of your business that is yours after debts or liabilities are considered. As an example, if you purchased a house for $300,000 and took a mortgage…

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