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Accounting Basics & Book keeping

Accounting Knowledges

  • Why are you requesting my bank statement?
  • Create Credit Memo in QBO for Customer Invoice that will not be paid
  • Generate reports in QBO - Balance Sheet and P&L
  • How many bank accounts do you recommend that I have?
  • Converting LLC to C-Corp and Fundraising: Key Considerations
  • How many accounts should I have in my chart of accounts?
  • How do I add a user (such as my tax preparer) to my QBO account?
  • Should I follow Cash basis accounting or Accrual accounting?
  • Chart of Accounts - What is the "Quickbooks Payment Fee" expense account used for?
  • Handling Business Expenses Paid with Personal Credit Card
  • Can you help me understand W9, 1099, and what actions I need to take?
  • What happens to my old (original) QBO file once I cancel that subscription?
  • I received a Purchase Order from my customer. How is that reflected on my accounting books?
  • Where can I find the balance in my Amazon account that has not yet been paid out to me?
  • What is EBITDA?
  • What is the difference between gross and net sales?
  • Chart of Accounts - What is the "R&D Expense" expense account used for?
  • I received a refund from a vendor. How do I categorize this?
  • Chart of Accounts - What is the "Trade Spend" account used for?
  • I received a Loan, how do I record that in my books?
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