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QuickBooks Journal Entries

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[[File:Bill cost variance.JPG]]
 
== Account types {{top}} ==
 
The following table shows some of the account types used by Fishbowl.
 
{| class="prettytable"
|-
!QuickBooks accounts referenced by Fishbowl
!width=125|Recommended account type
!Description
|-
|Accounts Payable
|Accounts Payable
|The account Fishbowl will use to record outstanding bills of a business.
|-
|Accounts Receivable
|Accounts Receivable
|The account Fishbowl will use to record the money owed to a business.
|-
|Undeposited Funds
|Other Current Asset
|This is the account in QuickBooks that handles all undeposited funds.
|-
|Capital Equipment
|Fixed Asset
|All transactions associated with Capital Equipment part types will be tracked in this account.
|-
|Internal Use
|Expense
|All transactions associated with Internal-Use part types will be tracked in this account.
|-
|Non-Inventory
|Expense
|All transactions associated with Non-Inventory part types will be tracked in this account.
|-
|Service
|Expense
|All transactions associated with Service part types will be tracked in this account.
|-
|Labor
|Expense
|All transactions associated with Labor part types will be tracked in this account.
|-
|Overhead
|Expense
|All transactions associated with Overhead part types will be tracked in this account.
|-
|Sales Retail
|Income
|Tracks the income from the sale of taxable items.
|-
|Discount Income
|Income
|Tracks the amounts associated with discounts charged to customers (I.E. for returns or restocking fees).
|-
|Discount Expense
|Expense
|Tracks the amounts associated with discounts given to customers on a sale.
|-
|Miscellaneous Expense
|Expense
|Tracks the expense from the sale of miscellaneous items.
|-
|Shipping Income
|Income
|Tracks customer charges for shipping.
|-
|Shipping Expense
|Expense
|Tracks shipping expense to customers or vendor charges for shipping.
|-
|Shipping Accrual
|Other Current Liability
|An accrual of shipping expenses owed, usually done on a per shipping vendor basis.
|-
|Inventory Asset
|Other Current Asset
|Tracks the current value of your inventory.
|-
|Cost of Goods Sold
|Cost of Goods Sold
|The cost of goods and materials held in inventory and then sold.
|-
|Inventory Adjustment
|Cost of Goods Sold
|This account is used to track cycle-count adjustments to inventory.
|-
|Scrapped Inventory
|Expense
|This account is used when inventory is scrapped (i.e. adjustments go down due to damage, theft, spoilage, etc.).
|-
|Cost Variance
|Other Current Asset
|This account is used only if you are using the Standard Costing method. When inventory is received at a cost different than the standard cost for that item the variance/difference is recorded in this account.
|}
== Import/Export {{top}} ==

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