I recently took a new client who is a Shopify seller, he is using multiple gateways including Shopify payments and Paypal. currently, his Paypal is connected with qbo and creating a mess due to duplicated transactions, I would like to ...
  1. Hi there, when you have a client with a large number of transactions running through Paypal I would not advise you to use the QBO to PayPal sync. As you stated ... Read more

So i have a client who is LLC not SCorp he purchased SEP IRA. Where in the chart of accounts would that expense that is tax deductible for before it hits his 1040 Tax Return?
  1. Hi if your client is an LLC and reports business income and expenses on the Schedule C of 1040, the SEP-IRA contributions should not be recorded on the profit a ... Read more

I have a client who is Amazon FBA seller and he is operating two Amazon seller accounts under One LLC, Yesterday he asked me how we can change our accounting method from Cash to Accrual as my tax consultant is ...
  1. Hi there are a few changes you will need to make in how you are recording the transactions in order to move from Cash to Accrual accounting. First, this change ... Read more

I use QuickBooks Online for majority of my clients. I have a new one who has a mortgage through his bank and wants me to get this into his chart of accounts so he can view the ...
  1. Unfortunately, QBO does not have an option to link a Bank Loan account, the way you can link a Bank Account or Credit Card Account. You can set up a long term l ... Read more