Oct 26, Late Filing Penalties

What is the best account to record late filing penalties in or should there be an account designated specifically to this? I usually create a sub

Comments

Post a Comment

Popular posts from this blog

The Ultimate QuickBooks Online Year End Checklist

Image
Daisy Flowers has just finished off with a long and productive year, but now, she’s worrying about tax time, again. She knew that she needed to catch up, and so she read and followed the steps behind  H ow to do a full year worth of bookkeeping when you need it done yesterday,   part 1  and  part 2 . But, despite doing everything she could to catch up, Daisy is still desperate for guidance. She wants to make sure that she didn’t miss anything important, but she doesn’t know where to begin. What Daisy needs, is a process. And today,  I’m going to share with you  and Daisy,  the Ultimate QuickBooks Online Year End Checklist .      What is the Ultimate QuickBooks Online Year End Checklist? It’s a list of important steps that you need to take before finalizing your books for your tax return....
Read more

How to fix Uncategorized Income and Expenses in QuickBooks Online

Image
One faithful day, Jeff opened his QuickBooks Online company file to view his Profit & Loss report. He hadn’t looked through his QBO company in a while, but with tax time approaching, he wanted to make sure that nothing unusual stood out. But as Jeff looked through the Profit & Loss report, he saw two strange accounts: Uncategorized Income and Uncategorized Expense . He couldn’t remember how these accounts even got there. He thought he was doing everything right, but now he wasn’t so sure. Jeff shuddered with disbelief – his tax accountant was not going to like this. Jeff knew that he had to take action, but he didn’t know where to begin. If you’re like Jeff, and you have uncategorized income and uncategorized expenses on your books, then stick around as I show you how to fix uncategorized income and expenses in QuickBooks Online. FAQ: Why do we see uncategorized income and expenses in QuickBooks Online? One of the most common problems that I see on the Profit & Loss re...
Read more

How to fix Uncategorized Income and Expenses in QuickBooks Online

Image
One faithful day, Jeff opened his QuickBooks Online company file to view his Profit & Loss report. He hadn’t looked through his QBO company in a while, but with tax time approaching, he wanted to make sure that nothing unusual stood out. But as Jeff looked through the Profit & Loss report, he saw two strange accounts: Uncategorized Income and Uncategorized Expense . He couldn’t remember how these accounts even got there. He thought he was doing everything right, but now he wasn’t so sure. Jeff shuddered with disbelief – his tax accountant was not going to like this. Jeff knew that he had to take action, but he didn’t know where to begin. If you’re like Jeff, and you have uncategorized income and uncategorized expenses on your books, then stick around as I show you how to fix uncategorized income and expenses in QuickBooks Online. FAQ: Why do we see uncategorized income and expenses in QuickBooks Online? One of the most common problems that I see on the Profit & Loss re...
Read more