BLACKMONEY COMPLAIN

by OM PRAKASH
(FORBESGANJ)

I WANT TO KNOW ABOUT WHERE I INFORM ABOUT ANY TAX EVASION BY SOME ILLEGAL PROPERTY DEALER

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Collecting Money In Advance

by Michelle
(SF Bay Area)

Hello,

Thank you for offering this service. It has been so hard to find good information.

My question is about collecting money in advance of services. Most of the documentation I've seen talks about what accounts to put the money in. This is not what I'm looking for. What I don't know is the life cycle of keeping client revenue ahead of services: the invoicing, collecting, re-invoicing when threshold is reached, and crediting to zero out the balance when services have been fully rendered and the client no longer needs our services. I think I also need to know about reporting and audit trails so the client knows what's going on with his/her retainer account, and how we figure out when the threshold is reached. We have hundreds of clients, so automation is preferred to having to do each invoice individually.

We are not attorneys, but like attorneys, we don't know what the charges will be until after they occur. Also like attorneys, we bill hourly. And also like attorneys, all clients have a different number of hours. The total number of hours cannot be known ahead of time, although it can be estimated for a given period of time, like a month.

Our service is unique, but closest to tutoring as a model.

Thank you in advance for your expertise.





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How To Write Off Money Borrowed To Live On

We borrowed money from friends and family to live while getting a business going. Last year was the first year we could pay any of it back and we did so. How can we write off the money we paid back as a business expense?

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Loan Myself Money

If I loan my business my personal money and then pay myself back, what is the account called in QB where I would record that?

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Money

by Joleen
(st.kitts)

There are 120 students attending a camp.If it cost$75 per student to attend.

(a)how much money must be collect altogether?

(b)If only 100 students have brought in their money , how much remains to be collected

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Moving Monies Between Branches Of The Same Company

We have a business with two parts. One part electrical contracting and one part sales of floor heat. Everything is reported under one business ID number for tax purposes, but there are two separate checking accounts. How would I account for money from one branch to cover bills for the other branch? Obviously it is not income as it has already been claimed as income when received originally.

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Money Transfer Classification

by Gary
(New Mexico)

I'm a sole proprietor of a small business. I have a business bank account and a personal bank account. I need to transfer operating money from my personal account to my business account. How do I classify that transfer in my books, since it's not income and it's not an expense?

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More Money in Bank Than on Paper

by Barbara
(Sallisaw, Ok.)

I am the treasurer for our small church. I have more money in the bank than I show on paper & I don't know why. My Disbursement sheets foot & crossfoot. My income sheets foot & crossfoot. My bank statements balance. In making the Cash Activity Statement - when I take the beginning cash balance (ending from last year)add the total yearly receipts, deduct the disbursements, I think I should balance with my Dec. bank reconciliation. I have over $600.00 more in the bank than on paper. Can you give me an idea what I might have done wrong?

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