Resources

Question: How do you record in your bookkeeping when you accidentally pay an employee their gross pay instead of net pay, and they e-transfer you back the difference-including if they send back a little too much? Answer: Record the initial overpayment as usual, then treat the returned funds as a reimbursement from the employee. If...

To set up Expensify to work with QuickBooks Online (QBO) Payroll and reimburse employees for expenses via payroll: Sync Expensify with QBO as a “Bill” (not an expense or journal entry). Create a liability account in QBO to track reimbursable expenses. Add reimbursements as paycheck deductions in QBO Payroll. This process ensures expenses flow from Expensify to QBO...

Do you use QuickBooks Online for your business? If yes, you’ve probably faced some annoying problems. Here are some common issues and how you can fix them. Table of Contents1 Problem 1: Viewing Invoices and Credit Card Entries in QuickBooks Online2 Problem 2: Credit Card Entries with Multiple Items in QuickBooks Online3 Problem 3: Receipts...

QuickBooks Online (QBO) users are frustrated with rising costs, forced subscription models, performance issues, and missing features. Solutions include exploring alternative accounting software, optimizing QBO workflows, and working with certified professionals to ease the transition. Table of Contents1 Why Are Users Angry About QuickBooks Online (QBO)?2 1. Price Increases and Subscription Model3 2. Performance Issues4 3. Missing Features5...

Yes, your journal entry is mostly correct—but let’s refine it to avoid equity account confusion and IRS red flags. Here’s the simplified approach: Debit Business Credit Card Expense: $150 (total bill). Credit Business Checking: $100 (portion paid by the business). Credit Shareholder Contribution (Equity): $50 (owner’s personal payment). No need for “Personal Funds Clearing” or “Loans to...