QuickBooks Online Plus: How to undo a bank reconciliation

Good news! VPcontroller.com is very proud to announce our new website: NewQBO.com. Check it out! Remember “NewQBO.com” is all about new QuickBooks Online. Watch this tutorial video: QuickBooks Online Accountant version – How to UNDO bank reconciliation in QBO Accountant How to undo a bank reconciliation: •Choose Transactions > Registers •From the Registers double click […]

why would merchant account fees list under a cost of goods sold and not an “expense”?

Question: Bank fees for merchant charges on credit cards are an expense to me but why does it show as a cost of goods sold? Answer: Good question! Simple logic is its variable cost (aka direct cost). Merchant Fees are directly associated with generating revenue like material cost or direct labor cost. In theory, you […]

How do I void an outstanding check from a previous period and re-issue a replacement in the current period without having to re-state financial statements?

I understand you are not asking just how to void and reissue the check. Your accounting question which involves few steps in QuickBooks online plus or desktop version for that matter. For this example, let us say you wrote a check to AT&T, need to void original check issued on 9/15/2013 and reissued on 12/16/2013. […]

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