![]() ![]() Amounts not yet paid are a liability payable to the sales tax jurisdictions.Įxpenses not categorized to a specific expense account like an opening vendor balance. Tracks all sales tax you collect and pay. This includes federal and state income withholding, local and employee paid taxes like Medicare and Social Security.Īt the beginning of a new fiscal year, QuickBooks transfers net income into your retained earnings account. Tracks taxes and deductions from your employees' salaries until you turn them over to the government. ![]() This includes company contributions like company paid health plans and company paid portions of taxes like Social Security and Medicare. Tracks payroll items (expense) for the company, including salaries, wages, bonuses, and commissions. Offsets opening balance transactions to make sure the Balance Sheet remains balanced.Įnter the opening balance for a balance sheet account. If you use more than one A/R account, QuickBooks lets you choose one when you invoice or receive payment. Tracks invoices and payments from customers. If your business uses multiple A/P accounts, QuickBooks lets you choose one when you enter and pay bills. Tracks bills and bill payments for your business. AccountĪutomatically added by QuickBooks when you. You can also edit, delete, or hide an account. If you don't see the account you need, add it manually. QuickBooks adds accounts based on your industry. ![]() Everyone gets the same set of standards accounts. ![]()
0 Comments
Leave a Reply. |