While a debit card looks and is accepted as a credit card, they are very different from one another, despite the Visa or Mastercard logo on the debit card.
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Tag: ask the accountant
What Was the July 31 QuickBooks Deadline?
Ask the Accountant… Question: What was the July 31, 2024 deadline from QuickBooks all about? Answer: Intuit/QuickBooks set July 31, 2024 as the last day that QB Desktop (Pro and Premier) could be purchased by a new customer or a current customer with a non-supported QB product. The good news is that the July 31…
Read MoreAsk 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…
Read MoreAsk the Accountant: Navigating the ‘Chart of Accounts’
Ask the Accountant… Question: Can I use the QuickBooks Online Plus Chart of Accounts that is included in the program? Answer: Yes, but it is a poor format for our industry. QuickBooks is a wonderful product and is the No. 1 accounting software for a small-to-medium-sized businesses. It is used by a wide range of…
Read MoreKnowing QuickBooks’ Two ‘View’ Options and Which Is Best For You
Ask the Accountant… Question: In QuickBooks Online, I have gotten used to the options on the left side of the screen that included things like Dashboard, Banking, Sales, and Expenses. Now an entirely different list of options is showing with things like “Get things done,” “Business Overview,” “Bookkeeping,” and “Commerce.” What happened? Answer: QBO offers…
Read MoreHow Can I Solve These QuickBooks Problems?
Ask the Accountant… Question: My QB Premier is having problems. Can you suggest anything to try to fix this? Answer: The problem might be that you are missing an update. Go to Help > UPDATE QuickBooks Desktop > Update Now. This will download and install any updates you don’t yet have, provided your QB Premier…
Read MoreMeet Amy Williams: Attorney and Promotional Distributor
Ask the Accountant… Question: I get frequent requests for names of accounting or legal professionals “who know our industry.” They are few and far between. I was recently introduced to an attorney who indeed “knows our industry,” and you might want to meet her. Answer: Amy Williams is an attorney who is also an ad…
Read MoreCan You Still Purchase QuickBooks Premier?
Ask the Accountant… Question: Can I still purchase QB Premier? Answer: I recently received a copy of The Woodard Report, which addresses this very question. Intuit has announced that, as of July 31, 2024, no new subscriptions for QB Pro Plus or Premier Plus will be sold. This will not impact current subscribers of QB Pro Plus…
Read MoreWhat To Do About ‘Odd, Glitchy,’ QuickBooks?
Ask the Accountant… Question: My QBO is doing odd, glitchy kind of things. Is there anything I can do for it? Answer: QuickBooks Online (QBO) can have issues. You can try the universal fix of shutting the program and your computer down and restarting it. When you reopen QBO, do so with the Chrome or…
Read MoreHow To See List of Entries in QuickBooks
Ask the Accountant… Question: How do I see a list of entries in QuickBooks? Answer: You didn’t say which QuickBooks you use, but these reports are available in both QB Desktop (Pro, Premier, and Enterprise) and QuickBooks Online (QBO). In QBO, go to “Reports” (on left side of screen), select the “Standard” Tab, scroll down…
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