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How to Apply Vendor Credit in QuickBooks Online?
This article will walk you through steps to apply vendor credit in QuickBooks online. Vendor credit occurs when a vendor fails to pay money for the services/ goods you provided to him. In easy words, vendor credits equals to the amount that particular vendor has to pay you in near future. QuickBooks accounting software helps…
Read MoreWhat does Reconciling an Account Involve?
In this post, we are going to discuss what does reconciling an account involve. Reconciliation is an accounting process in which two sets of records are compared to ensure that the results are correct and consistent. Reconciliation also guarantees that the general ledger accounts are correct, consistent, and complete. Nevertheless, in contrast to business, reconciliation can…
Read MoreHow to Write Off Bad Debt in Quickbooks?
This tutorial will show you how to write off bad debt in QuickBooks. Bad debt occurs when a customer owes you money, and you cannot collect it. They owe you money, but you are sure that you’re not getting paid. If your company employs the accrual method of accounting, you may be able to deduct bad…
Read MoreIntuit QuickBooks Ceasing it’s Indian Operations Making Customers Migrate to Zoho Books
All Indian Intuit QuickBooks users are migrating to Zoho Books and here is why you should too. After the sudden announcement of QuickBooks’ discontinuing operations in India, many QuickBooks users are left with panic, frustration, and helplessness. However, there is a silver lining in this situation too. Zoho Books have lent a hand to Indian…
Read MoreWhich Asset Cannot be Depreciated?
In this article, we will discuss which asset cannot be depreciated. Depreciable and non-depreciable assets are two distinct types that must be understood to accurately evaluate a company’s earnings and assets. What is Depreciation Exactly? Depreciation is a non-cash business expense that is computed and allocated throughout the asset’s useful life. Depreciation allows any business to…
Read MoreHow to Use Qbox with Quickbooks: Complete Tutorial
This definitive guide will be focused on how to use Qbox with Quickbooks. What Exactly is Qbox? Qbox is a cloud-based collaboration tool for Windows PCs that allows users to upload data over the Internet. Qbox establishes ‘Sync folders’ on the profile owner’s and shared users’ Windows PCs during installation. Files copied into sync folders…
Read MoreHow to Reconcile in Quickbooks Online?
In this tutorial, you’ll learn how to reconcile in QuickBooks online. The accounting procedure of reconciliation guarantees that two different financial records are accurately matched. It’s critical to reconcile your business bank accounts on a monthly basis and double-check that everything is in order. Why is Reconciliation Important? When you enter and compare data in QuickBooks…
Read MoreWhich Type of Account Typically has Low Liquidity?
Here, we will explain which type of account has low liquidity and also let you know either you should invest in such low liquidity account or not. In finance, liquidity refers to the speed with which any asset can be converted into physical money. Stocks, bonds, and marketable securities, for example, are liquid assets because…
Read MoreWhat Happens If My Stimulus Check Goes to a Closed Account: Here’s Everything You Should Know
Are you concerned about what happens if my stimulus check goes to a closed account? Millions of suitable and eligible Americans are receiving stimulus checks from the government, which means you can receive up to $1,400. Your household income determines your stimulus payment amount and the people dependent on you listed as per your tax forms.…
Read MoreWhich Account Does Not Appear On The Balance Sheet?
Understanding which account does not appear on the balance sheet is crucial to your company’s accounting. Assets or liabilities that do not display on a firm’s balance sheet are referred to as off-balance sheet (OBS). The OBS accounting method is utilized in various situations. Still, it is particularly useful for shielding a firm’s financial statements…
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