Looking at an Income statement for a period, under Payroll Expenses is "Wages & Salaries" along with EI and CPP employer portions.
Clicking on "Wages & Salaries" here opens its General Ledger and Vacation pay amounts are not included.
Do we have something…
We are in the final stages of building a house that we will rent out. I have set up a project to track expenses and revenue, but not entirely sure on the accounts to use.
Would I set up an expense account for appliances 5115 and an asset account 1840…
Hi we had an employee use a company account to purchase an item, we paid it already, he now has paid us the cash for the purchase. What do I post and where...
do I do a GL entry where I credit the expense account and debit the bank where I am depositing…
Hello,
I am working with a client that uses the business card for a lot of small purchases and provides the receipt as an expense. Meals, Transporation, Small tools/hardware.
I did not want to enter these as a "payable" individually and began compiling…
Hi there,
As a long time QBO user I am now struggling with understanding the intricacies of entering credit card expenses in Sage 50 as well as seeing historical transaction data. For example, in QBO I could enter expenses simply by going into the…
owner used his own personal bank account to pay(interact) for some opening expenses on new business he has opened. A account that I will not be reconciling. He did this before a seperate bank account and visa were set up. This a partnership. How would…
Hi,
I am trying to figure out the best way to record Subcontractor expenses in Sage 50 2017.
Would it be best when entering the Subcontractor supplier invoice for labour to also record the expenses here
i.e. gas reimb or materials
Also, if no…
Hi,
I'm a new bookkeeper and asked my bookkeeping mentor about posting receipts with GST/HST amounts in Sage which require record sales taxes business paid.
Do I have to record sales taxes paid by business if I don't collect them at the end of the…
I am an accounting/ bookkeeping newbie so please excuse the ignorance on my part. I have a small incorporation I started up in my home and currently pay about $80 a month for home internet charges which I pay personally. I would like to apportion about…