I have taken a client who is an eCommerce seller and he uses PayPal for his payments from the store, so there are few payments in his Paypal which are on hold and those are not part of the ...
  1. If you prepare your clients books using accrual accounting, you can treat these payments (reconciling items) as deposits in transit on QBO and record the sale. ... Read more

I Just got an EIN number for a little jewelry shop, online.. I wont have employees or make much income. Its basically to shop wholesale. I understand how it works with purchases but when filing taxes, will I need to ...
  1. If you want to reduce the income number by those expenses, you should retain copies of receipts with your bank statements for proof of the expenses. Many small ... Read more