Add Bank Account First We will open the dashboard of QuickBooks Online and click on the Chart of Accounts option in Accounting to add a new bank account, then it will show us physical type accounts such as current assets, current liabilities, inventories. We will click on the new button […]
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PROFIT AND LOSS OR INCOME STATEMENT REPORT
Profit & loss Click the option of Report in the Dashboard of Quickbooks Online and go to the standard report, after that we will open Profit and Loss by clicking and the date for which the balance sheet is to be checked. In this, we can also check the entire […]
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BALANCE SHEET REPORT
Balance Sheet format report option In the 1st dashboard, you will click on the report option and open the date in the balance sheets. After that, we will click on the upper-cost option, we will fill all the options in it and we can also change the header and footer […]
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ENTRY FOR THE SECOND MONTH OF OPERATION
Short term investment deposit In this, we will open the dashboard and go to the balance sheet and look at the short term investment in it, how my short term investment happened, we will then click the plus icon provided in it, and in that area, I will open the […]
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ENTER DATA FOR THE FIRST MONTH OF OPERATION
Journal report and financial statement 1st we want to check the month for which we want to check the report, click on the report option and go to date and run and report the run, after that we will check the total liabilities and then check the total assets both […]
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ENTER DATA FOR THE FIRST MONTH OF OPERATION
Job or sub-customer sales receipt Now we are going to the dashboard and go to the sales item .now we click into the plus icon and choose the customer on the left-hand side and within the customer section, we are looking for the sales receipt. we are going to select […]
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ENTER DATA FOR THE FIRST MONTH OF OPERATION
Record short term investment We are going to go to that checking account down here or the accounting down here on the left-hand side. we could select a short term investment account. if we had it. but if dealing with cash that’s usually the first thing that’s easiest for most […]
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ENTER DATA FOR THE FIRST MONTH OF OPERATION
Record owner &loan deposit Now we are going to the dashboard and select much be accounts and that will give us the chart of account so if we select the top item here which will be the chart of accounts. Then we going to each account and this is where. […]
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START A NEW COMPANY FILE
Start a new company file overview This is where we are going to start a new company.it will be a bit longer of a section that many of the ones we have seen in the past. we will include the setup of a new company that will go onto its […]
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ADJUSTING ENTRIES AND REVERSING
JOURNAL REPORT AND FINANCIAL STATEMENT Go to the first click to report and see what we have for the balance sheet.now the balance sheet is as of a point in time I am going to put the month of February which is 01/02/20 to 28/20/20 and run the report. we […]
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ADJUSTING ENTRIES AND REVERSING
SHORT TERM LOAN A short term loan is a loan that we pay in 12 months, it is called a short term loan, we can do it in Quickbooks online, we can see our loan debt wise to see how much the loan is increasing or we can balance it. […]
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We will have to adjust entries for a loan payable just in entries related to accrued interest. we will have gesine entries related to an invoice and account receivable that needs to be adjusted to the current time period. We will have the account receivable reversing entry having to reverse […]
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BUDGETING
BUDGETING OVERVIEW We look at some reports in terms of the major reports for you in the budget including the basic budget as well as a comparative budget comparing the budget to the actual performance.once the time period that had been budget had passed. BUDGET PROFIT AND LOSS In this, […]
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Quickbooks online test drive
We are going to the test drive logging. if they ask are you a robot, so I am going to say no I am not a robot. Then are going to continue and that all take us to Craig’s design and landscaping services. This is going to be the file […]
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Different between Quickbooks desktop and Quickbooks online
(a) Quickbooks desktop (1) one time purchase:- they are one-time purchase on Quickbooks desktop and use us businesses (2)Can have multiples company files with one purchase of QuickBooks:-IN this books we are using in multiples companies files (3)Static backup files:-here all the transaction of the company he restores our static […]
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What are the major differences between Tally and Quickbook
Quickbooks are focused on bookkeeping. Tally is focused on more advanced inventory and project management features. Quickbooks only offers a subscription-based payment model Tally allows you to purchase Tally as a one-off license Overview QuickBooks Online Accounting Software from Intuit is a cloud-based accounting software offered in a SAAS model. […]
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Step by Step guide and tutorials for TDS filing in India
1 How can I file TDS? Guide for Uploading TDS Returns on the Income Tax PortalYou must hold a valid TAN and it should be registered for e-filing.Your TDS statements should be prepared using Return Preparation Utility (RPU) and validated using File Validation Utility (FVU)You can prepare your returns in […]
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Top 10 Software for GST, Tax, and accounting in India
MARG GST:-This is one of the best GST software you can use for your business at an affordable price. Besides, the user interface of the software is convenient for beginners. The software also allows the users to convert the bill into various formats and provides the option to send them […]
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Section-1 and section-2 of the CGST ACT
What is actionable claim under GST| section 2(1) Transfer of property act,1882.actionable claim A claim to any debt other than a debt secure by mortgage of improvable property or by hypothecation or pledge of moveable property, or to any beneficial interest in movable property not in the possession, either actual […]
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ISSUE OF GSTIN
The successful completion of an application process GST comparable it will To methodically they generate and issue a registration certificate to the application all business entities registering on the GST will be provided a band unique identification number known as GST Eilean or GST or number we had covered this […]
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