QuickBooks & FreshBooks – Part 3 – Sales Tax

Part 3: Handling Sales Tax

QuickBooks is an accounting application and FreshBooks is an invoicing application. They are two different things, but in the end to have your data matching in both, there could be a ton of double entry resulting in valuable time consumed and strenuous effort.

You can have your data accurate in both, while not matching in both. Matching and accuracy are two different things. For all of the numbers to match up, it is a matter of accuracy. To have all of the details such as sales items etc. it would be a matter of matching.

In this blog post, I will begin to show you ways to get accurate data from FreshBooks into QuickBooks.

This blog post is Part 3, if you have not read the previous posts, I suggest that you do:

Part 1: Methods 1 & 2 to getting FreshBooks Income into QuickBooks

Part 2: Method 3 to getting FreshBooks Income into QuickBooks

Also useful, is my post: Handling Credit Card and PayPal Processing Fees in QuickBooks, which has a short segment relating to FreshBooks as well.

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Tags: Accrual, Accuracy, Accurate Data, Amp, Bas, Blog, Credit Card, Freshbooks, Good Stuff, Income Accounts, Invoicing, Matter Of Fact, Paypal, Quickbooks Accounting, Receivables, Sales Tax, Segment, Strenuous Effort, Tax Accounting, Two Different Things

Handling Credit Card Processing Fees (or PayPal Fees) in QuickBooks

There is always that never ending problem, where you just don’t get all of your income

Many merchant accounts (these are the people that permit you to accept credit cards) just take a monthly debit out of your bank account at the end of the month, these are easy to account for, you simply enter a withdrawal in your account register for the amount debited and categorize it as Merchant Processing Fees, which should be a COGS or an Expense (this varies by where you are located and your industry, check with your accountant if you are unsure).

However, what about those merchant accounts that take the percentage before you even get the money, similar to Paypal? This makes it more difficult to track, however, I do have an answer.

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Tags: Accountant, Accounting, Cash Receipts, Chase Paymentech, Checking Account, Checkout, Cogs, Credit Card Processing, Credit Cards, Google, Invoices, Lump Sum Fees, Matter Of Fact, Merchant Account, Merchant Accounts, Monies, Paypal Account, QuickBooks, Three Ways, Worry

Making FreshBooks work with QuickBooks and vice versa – Part 2

Part 1: Dealing with Income – Continued (Part 2)

QuickBooks is an accounting application and FreshBooks is an invoicing application. They are two different things, but in the end to have your data matching in both, there could be a ton of double entry resulting in valuable time consumed and strenuous effort.

You can have your data accurate in both, while not matching in both. Matching and accuracy are two different things. For all of the numbers to match up, it is a matter of accuracy. To have all of the details such as sales items etc. it would be a matter of matching.

In this blog post, I will begin to show you ways to get accurate data from FreshBooks into QuickBooks.

Read More »

Tags: Accounts Receivable, Accuracy, Accurate Data, Amp, Blog, Cash Basis, Cash Revenue, Freshbooks, Getting Money, Ideal, Invoicing, Quickbooks Accounting, Strenuous Effort, Two Different Things, Vice Versa

Making FreshBooks work with QuickBooks and vice versa

Part 1: Dealing with Income

QuickBooks is an accounting application and FreshBooks is an invoicing application. They are two different things, but in the end to have your data matching in both, there could be a ton of double entry resulting in valuable time consumed and strenuous effort.

You can have your data accurate in both, while not matching in both. Matching and accuracy are two different things. For all of the numbers to match up, it is a matter of accuracy. To have all of the details such as sales items etc. it would be a matter of matching.

In this blog post, I will begin to show you ways to get accurate data from FreshBooks into QuickBooks.

Read More »

Tags: Accounts Receivable, Accuracy, Accurate Data, Customer Center, Entities, Freshbooks, Invoices, Invoicing, Journal Entries, Main Menu Bar, Quickbooks Accounting, Receivable Balance, Receivables, Short Cuts, Strenuous Effort, Two Different Things, Vice Versa

Setting up a new customer or client in QuickBooks

This is a very simple blog post on how to set up a new client or customer in QuickBooks.

Step by Step:

1. Open QuickBooks

2. On your Menu bar click Customer Center

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Tags: Amp, Bare Minimum, Blog, Crm Application, Crm System, Customer Center, Customer Name, Invoicing, Menu Bar, New Job, Other Additional Information, Quickbooks Premier, Screen Shots, Step 1, Step 2, Step By Step, Visuals, Voila