Quick Books has a GST Agent! How good is that! Gives tips on errors and inconsistencies that need looking at

Something that I don’t like about quick books (sorry). If you think an invoice from a client has been paid but cannot locate the receipt it may be shown as an 'unapplied cash payment': On a cash basis, Unapplied Cash Payment Income shows on the Profit & Loss Why?-because QuickBooks has received money but hasn’t matched it to an invoice. On accrual basis, that amount does not appear as income at all. Instead, it sits on the Balance Sheet as a liability (basically “money received but not yet earned”). In fact, it is very difficult to find on the balance sheet as it is ‘hidden’ in the accounts receivable balance! Accounting term ‘hidden’ meaning very difficult to locate!!

Hi- anyone using quickbooks here? Are you liking the new look?

QBO 10 day challenge is coming soon1 Stay tuned!