Author: Bob Steele CPA

How To Record Home Asset To QuickBooks Personal Account

QuickBooks can be used to track personal bookeeping as well as business bookkeeping. We can tack personal bookkeeping and generate personal financial statements, balance sheet and profit an loss, by entering data from our bank statement into the QuickBooks file. Entering bank statement activity will will help us record activity, cash in flows and outflows,… Continue reading How To Record Home Asset To QuickBooks Personal Account

Set Up New QuickBooks File For Both Business & Personal Bookkeeping

New QuickBooks file designed to be used for both business and personal record keeping with the use of QuickBooks class tracing feature. It is generally recommended to have two QuicKBooks files, one business and one personal, and two bank accounts so that we keep business records as separated as possible. However, some small business owners… Continue reading Set Up New QuickBooks File For Both Business & Personal Bookkeeping

How To Track Personal Charitable Contributions In Our Business QuickBooks File To Make Taxes Easier

Method to track tax related deductions for charitable contributions, in one QuickBooks file, to make year end tax filing much easier. It is generally good advice to keep personal transactions completely separate from business transactions, keeping two separate set up books, and having two separate checking accounts. There are benefits, however, to tracking some personal… Continue reading How To Track Personal Charitable Contributions In Our Business QuickBooks File To Make Taxes Easier

How To Track Personal Tax Deduction Using Business QuickBooks File To Make Tax Preparation Easier

Method to track tax related deductions in one place, in one QuickBooks file, to make year end tax filing much easier. It is generally good advice to keep personal transactions completely separate from business transactions, keeping two separate set up books, and having two separate checking accounts. There are benefits, however, to tracking some personal… Continue reading How To Track Personal Tax Deduction Using Business QuickBooks File To Make Tax Preparation Easier

Payroll Item Setup Health Insurance Employer Paid In QuickBooks

Set up payroll item for health insurance that is employer paid. payroll items are the driving components to how QuickBooks navigates the system. The payroll items will help QuickBooks process payroll and select the correct accounts to be effected. We have set up payroll items related to dental insurance and vision insurance in the past.… Continue reading Payroll Item Setup Health Insurance Employer Paid In QuickBooks

Payroll Item Setup Vision Insurance Employee Paid Before Taxes in QuickBooks

Set up payroll item in QuickBooks for vision insurance that is paid by the employee and paid before taxes. We will compare and contrast this payroll item that is employee paid before taxes to the a prior payroll item for dental insurance that was setup as employee paid after taxes. For more accounting information see… Continue reading Payroll Item Setup Vision Insurance Employee Paid Before Taxes in QuickBooks

Payroll Item Setup Dental Insurance Employee Paid After Tax in QuickBooks

Payroll Items are items QuickBooks uses to help run the payroll process and direct the journal entries and accounts that will be effected by processing payroll. We will add payroll items related to dental insurance. When adding dental insurance payroll item to QuickBooks we will have multiple options. The insurance can be employer paid, employee… Continue reading Payroll Item Setup Dental Insurance Employee Paid After Tax in QuickBooks