I am just starting out doing some bookeeping for a friend. She paid her 1st and last months rent plus a security deposit. How will I post the last months rent and the security deposit?
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How should I record an estimated tax payment? As a prepaid Asset? And then adjust it when I pay the actual tax at the end of the year?Hi,Thanks for your question. If you are a sole proprietor paying your estimated tax payments out of your business account, the payments would be posted as an Owner's Equity Draw Sub-account as follows:DEBIT Owner's Draw: Estimated TaxesCREDIT Bank Account
(Sturgeon Falls, Ontario Canada)
How to post a prepaid insurance expense, or can I just post it as a one time expense when invoiced? The payments are made monthly over a one year period going into the next year.Nadeen
by Patsy Maxey
How would a copy of a Post joural entry look, to the gneral ledger accounts. Illustrate Insurance expense, Prepaid Insurance. Show how it should look...
How do I record a prepaid auto lease? This is for a 3 year lease and for persoanl use
We are prepaying loan costs for a customer and then the customer reimburses us. Should this be a prepaid asset.
How to treat prepaid expenses if the vendor gives the invoice and paid after 60 days?
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Top 7 New 2018 Income Tax Rules For Individuals There are many big changes going into effect for 2018 tax returns. The changes for individuals were
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Could you please advise how I set up a Personal Drawings account in the QuickBooks chart of accounts? I recall being told not to put it as an expense
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