In response to the amount of questions I have been receiving via email, I decided to start this page to answer any questions you have about problems with your bookkeeping.
Rather than answering individual questions via email, this will give everyone a chance to read about problems that others are having too, and find out how to solve them. It will become a FAQ about Bookkeeping.
The advice I give is only from my experiences and way of doing things. Please help me by also contributing to the answers. This is a two way web page...you and me. You can ask a question, answer a question or do both. You will become my co-expert on these questions by rating and submitting comments.
All other questions about any aspect of bookkeeping and accounting can be asked just below, on this page.
Ask questions about the problems you are having with bookkeeping. You can even answer questions that have already been asked. It's free, it's easy and it's fun.
This is for everyone to participate in. Let's all help and be helped. Don't forget to check back soon to view the answers. I'll do my best to give my personal reply within 24 hours.
You have the option to upload a photo if you want to show the problem. Sometimes it helps to see what you are talking about, but it's not absolutely necessary.
Important: When you ask your question, please include as many details as possible.
Click below to see contributions from other visitors to this page...
Petty Cash Questions





Petty Cash Questions - Ask a question or share your expertise about petty cash
Work Questions





Work Questions, Ask and answer questions about work.
Customer Questions





Customer Questions, Ask and answer questions about customers here.
Gas Questions





Gas Questions, Find or ask questions about gas receipts and expenses.
Managing Vendor discounts





Hi
I am wondering what is the correct way to manage discounts I get from Vendors. They are flat rate discounts which vary from product to product.
I ...
Vehicle Questions





Vehicle Questions, The place to go for answers to your questions about your company vehicle, entries for the purchase of a new vehicle, vehicle trades and vehicle payments.
Suspense Account Questions





Suspense Account Questions - Ask, answer or comment on questions about suspense or clearing accounts.
Company Start-Up Questions





Find company start-up questions to start a set of books for a new business
Payroll Questions





Payroll Questions - Find out what you need to know about payroll services and verifying a payroll client.
What Are Prototypes And Product Creation




What are prototypes, design and development of a product categorized as?
LLC Questions




LLC Questions, Ask or answer questions about LLC Corporations
Equity Questions




Equity Questions, Find out what you need to know about owner's equity here.
Cost of Goods Sold Questions




Cost of Goods Sold Questions, Find out more about cost of sales and cost of goods sold otherwise known as COGS.
Tax Questions





Tax Questions, Get answers to your tax questions regarding sales taxes, VAT, estimated taxes paid, real estate taxes, etc..
Asset Questions



Asset Questions, Find out what you need to know about assets.
Reimbursement, Employee to Employer
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We bought cell phones for some of our Employees, to be used for both business and personal use. Employee is responsable for an agreed upon portion of the ...
Merchant Credit Card Fees
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When I receive a credit card payment of, lets say, $100. But the merchant credit card company only deposits into my account $97.50 due to deducting $2....
Investing In Construction Company In Panama.
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Good day, I would like to recieve some information regarding my question, please.
My incorporation just finished the prosess of refinancing, and because ...
Year End Rollover
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What happens when a end of year rollover is done in an accounting package?
Income Tax
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I just turned 18. I've been living with my boyfriend. Can he claim me on his income tax?
Journal Entry For Redemption Of Product Certificate
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I am self-employed and work on commission as a distributor. Booking that commission is straight forward. My question is: They also issue product certificates ...
Meaning Of Bookeeping Debits and Credits
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What is debit and credit?
Gas Receipts and Lunch Receipts
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Hi, Example I keep my gas receipts for the month. I keep my client lunch receipts for the month.
I have to submit HST taxes quarterly in Ontario Canada....
Banking Fees
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I am the volunteer treasurer for my church. At the beginning of each month the bank statement shows the account fees for the activity of the previous ...
General Ledger
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When an owner buys goods or services with their personal money with the intention of being re-paid later, how is this shown on a general ledger? In addition ...
Salary Credited or Debited?
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Is salary debited or credited?
Thank you for your question about salaries. The salaries account for amounts paid to employees typically carries a ...
S Corp Questions
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S Corp Questions, The place to go when you have a question about S Corporations
Cash Questions




Cash Questions, Get your questions about cash answered here.
Paycheck Withholding
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We formed a small family partnership to handle our parent's finances and care. In 2010 we issued only 2 payroll checks and withheld all of the payroll ...
Insurance Questions
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Insurance Questions, Ask or answers insurance questions pertaining to insurance claims, insurance reimbursements, life insurance and more.
Depreciation Questions
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Depreciation Questions, Find out what you need to know about depreciation of assets.
Taxation Laws for BAS Agents
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What are the taxation laws apply to a bookkeeper who is working as a BAS service provider?
Reporting Prize Incentive Earnings
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I am trying to prepare my 1099's in Quickbooks and I need to include the value of the prizes/awards that my vendors received.
Should I use a journal ...
Equipment Questions
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Equipment Questions, Ask any question you have with regards to property plant and equipment.
Owner Questions
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Owner Questions, Get your questions about owners answered here.
Accrual Basis Questions




Accrual Basis Questions - Ask, comment or answer questions about accrual basis bookkeeping.
Trusts
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We have set up a trust for a retarded child. We are not using the money out of it for her yet - it is just in the bank collecting interest. I am told ...
Loan Questions




Loan Questions, Ask questions and get answers on loans and lending.
Company Questions
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Company Questions, Ask your company questions here.
Mortgage Questions
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Mortgage Questions, Ask or answer questions pertaining to mortgage payments, mortgage liability or any other question you may have about mortgages.
Gift Certificate Questions





Gift Certificate Questions, Get your gift certificate questions answered here.
Chapter Journal Questions
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Chapter Journal Questions, Ask questions from books for examples on how to journal
Trade Questions
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Trade Questions, Ask any question you have about trading such as trade in computer or trade in car for example.
Register Is Off
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The register in my account is off. It shows I have a negative balance, however I can reconcile every month. How do I fix the register to show the correct ...
From Chapter Bill of Exchange
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Manish accepted a bill of Rs.40,000 drawn by Krishna at 3 months.
Krishna got the bill discounted with his bank for Rs.39,000.
Before the due date, Manish ...
Financial Report
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Hi,
The opening balance for the period + the income from the P & L minus the expenses on the P & L does not equal the ending balance in the GL. What ...
Unbilled Suppliers Orders
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I receieved invoices dating back July 2008 from one of my suppliers for unbilled orders I placed with him.
The total of all the invoices come to approximately ...
VAT Questions





VAT Questions, Ask and answer questions pertaining to VAT.
Quick School Question
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On August 4, Sanders provides services to Frederickson for $5,000, terms 3/10, n/30. Frederickson pays for the services on August 12. What amount would ...
Sales Questions
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Sales Questions - Get answers about cash sales and sales journal entries here.
Ledger
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If a firm purchases office equipment which account should record the purcase the purchase account? Or do you make a office equipment account?
Invoice Questions
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Invoice Questions, Find out about invoicing and invoice discounts.
Revenue Account Questions





The Revenue Account Questions page is where you can find information regarding income and revenue.
Deposit Questions
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Deposit Questions, Get your questions about deposits answered here.
Donation Questions
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Donation Questions, Ask any questions you have about donations or services you have donated.
Sole Proprietor Questions





Sole Proprietor Questions, Get your sole proprietor questions answered here.
Miscellaneous Questions





Miscellaneous Questions, Can't find a category that fits your question? Ask it here.
Transaction Questions
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Transaction Questions, Ask or help answer questions regarding to account transactions.
General Ledger Questions
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The General Ledger Questions will help you with general ledger adjustments and other miscellaneous general ledger account issues.
Purchase Questions
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Purchase Questions, Ask purchase questions here such as stock purchases and purchasing a business
Closing Questions
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Closing Questions, The place to ask questions about closing books.
Income Tax Questions
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Income Tax Questions, Ask your income tax questions here or answer a question about income taxes.
Stock Questions
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Stock Questions, This is where you can ask and answer questions about stock.
Partner Questions
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Partner Questions, The place to go to ask questions about business partners.
Freight Questions
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Freight Questions, Ask your questions pertaining to freight charges.
Bank Account Questions




Bank Account Questions - Ask or answer questions about bank accounts and reconciliations.
Want to Claim for a House
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My husband is unemployed since one and half year we have one son n we live in my mother in low's house we have no property now she want us to be out from ...
Percentage Questions
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Percentage Questions, Get your questions about percentages answered here.
PREPARE FOR END OF FISCAL YEAR
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We have a new Treasurer bookkeeper and I am a new president of a small 501c3 non-profit. This clause shown below is in our bylaws and It seems the past ...
Money Questions



Money Questions, Get your questions answered with regards to money.
Budget Questions
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Budget Questions, This is where you can ask your questions about budgets or budgeting.
What Would Be Debit in the Case Given Below
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Let off the part of the premises receiving rent by checque $75
Bookkeeper Questions




Bookkeeper Questions, Ask questions pertaining to bookkeepers here.
Clean Up Questions
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Clean Up Questions, Find out more about cleaning up the books.
Workers Compensation
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I have a client and the employer takes a percentage of his income weekly for workers compensation. Do I report it?
Inventory Questions
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Inventory Questions - Get answers to your inventory questions here.
Account Questions



Account Questions, Find out what you need to know about different accounts.
Refund Questions



Refund Questions, This is where you can ask or answer all of your refund questions..
Fee Questions
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Fee Questions, Ask and answer questions pertaining to fees such as mortgage and late fees.
Handling A SEP IRA Contribution?
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SEP IRAs retirement plans similar to 401Ks except that the company makes 100% of the contributions. There are numerous requirements that are well documented ...
Double Entry Questions
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Double Entry Questions, Learn more about the double entry format.
Personal Questions



Personal Questions is where you can ask questions and get answers about how to treat personal property and transactions such as personal laptops and personal donations.
Posting Questions




The Posting Questions page is where you can read and help answer questions about making journal entries and which accounts should be posted to.
Credit Card Questions
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Credit Card Questions, credit card charges, credit card fees
Rent Questions




Rent Questions, Find out what you need to know about rent expenses.
Property Management Escrows
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A homeowner buying on land contract who is paying water directly was delinquent and water amount went to taxes.
Can we take the amount paid by land ...
Check Questions





Check Questions, Get your questions answered pertaining to checks.
Transfer Questions


Transfer Questions, Ask and answer questions about transfers here.
Unanswered Bookkeeping Questions





Unanswered Bookkeeping Questions, please help and share your expertise on Bookkeeping here.
HST Questions


HST Questions, Find out more about HST or ask and answer a question.
Networks
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What is a network? And components of a network?
Quickbooks Questions
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Quickbooks Questions, Ask and help answer questions pertaining to the Quick books software.
Wrong Form of the Social Security
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There are 2 business and I have been doing my income tax by a bookkeeper. The other business went with another accountant and he said that he had found ...
Classify Questions




Classify Questions, Ask questions about the classification of transactions.
Credit Questions


Credit Questions, Get your credit questions answered here.
More Bookkeeping Questions





More Bookkeeping Questions, Find more miscellaneous questions about here.
Labor Questions
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Labor Questions, Get your questions about labor answered here.
Over/Under Billing
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How do you book over/under billing for WIP on Profit and Loss.
Expense Questions





Expense Questions, Ask or answer questions pertaining to expenses.
What Is The Proper Way To Itemize This Scenerio?
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What is the proper way to itemize this scenerio?
Company I am helping is a middle man for title company and County court houses.
He receives money ...
Business Questions



Business Questios, This is where you can ask all of your questions pertiaining to business.
Rebate Questions
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Rebate Questions, Ask any questions you have about rebates here.
Life Insurance Questions
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Life Insurance Questions, Find out what you need to know about life insurance policy's and life insurance entries.
Sage 50
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In sage 50, where do i find the suppliers payment wizzard, and which box on the suppliers window do i bring the payment wizzard up.
also i would like ...
Correction Questions





Correction Questions, Find out how the correct procedures and how to correct entries.
suppliers wizzard
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Hi.
Could you please tell me where i can find the suppliers payment wizzard, on the suppliers list, thank you.
Service Questions
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Service Questions, Ask or answer questions pertaining to the service industry.
Journal Questions




Journal Questions, Have a general journal question? Ask it here!
Help Answer Questions
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Help Answer Questions, Share Your Expertise and Help with Unanswered Questions here
Trial Balance Questions
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Trial Balance Questions, This is where you can ask trial balance questions.
Lease Questions
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Lease Questions, Learn about leased assets and leased equipment bookkeeping entries.
Retainer Questions
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Retainer Questions, Find out how to record retainer fees here.
Foreign Currencies
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I have a new client who deals in US $ and does not need to exchange into CAD $ as he pays his expenses, salaries etc all in US $ .
I am writng from ...
Entering Questions
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Entering Questions, Ask your questions about entering transactions here.
Website Business Questions
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Website Business Questions, Learn about what kind of bookkeeping format or system should be used for your website business.
Underpayment Penalty
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A taxpayer may owe an underpayment penalty for what?
Hi,
Thanks for your question,
A taxpayer may owe an underpayment penalty when he/she is ...
Receipt Questions




Receipt Questions, Get your questions about receipts answered here.
Balancing Questions
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Balancing Questions, This is the place to ask questions do with subjects such as balancing at year end and balancing daily receipts.
Prepaid Questions
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Prepaid Questions, Learn how to account for prepaid expenses such as pre paid rent and prepaid estimated taxes.
Salary Questions
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Salary Questions, Find out the meanings of salary, category for salary and more.
GST Questions





GST Questions - Ask a question or share your expertise about GST.
Payment Questions




Payment Questions, This is the place to ask all your payment questions such as credit card payments, bond payments, remittance payments and estimated tax payments.
Bad Debt Questions
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Bad Debt Questions, Learn what you need to know about bad debts.
Employee Questions
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Employee Questions, Ask and answer questions about employees here.
Capital Account Questions





Capital Account Questions - View, ask or comment on questions about the capital account
Funding Questions




Funding Questions, Find out what you need to know about funding.
Write Off Questions
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Write Off Quetions, Find out how to post write offs such as how to write off creditors and write-off petty cash.
Business Startup Questions
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Business Startup Questions, Find out how to separate business and personal transactions along with how to record business startup transactions.
Corporate Questions
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The Corporate Questions page is a place where you can view, ask or answer questions all about corporations.
Accounting Questions





Have an accounting question? You can ask or answer accounting questions here.
Liability Account Questions





Liability Account Questons - Ask, answer or comment on questions about liability accounts.