hi @Allan_in_Florida as you've already noticed, bulk categorizing transfers isn't an available option. Transfers will need to be done manually by categorizing each transaction as a transfer.
hi @FeralFelt when making a transfer between two credit cards, you should be able to complete it by following the same step. Categorize the transaction as "Transfer to Bank, Credit Card or Loan > Select the other credit card account".
Hi @Barsin , how are you? question lets say that in square I have a loan and I got the money transferred from them
my transaction in Square is for $65, then my fees is $1 then the took $10 from my loan repayment then because i have debit card with them they give me a balance or they do and adjustment of$2..These $2 are already included on my transfer of $57 . how would do you record everything? because when I do it I got another transaction from transfer of $ 2 dlls.
That is normal?
thank you.
Hey @Liliana , Square loans are something I'm not familiar with so for that reason I would recommend reaching out to a CPA or accountant who can properly advise you on the best way to account for this.
However, in our Help Center we do have have a couple of Help Center articles which may push you down the right path. This includes how to record loans and how to handle merchant fees. Check them out!
Hi, is there anyway to change the total transaction amount after you've created it? I have some complex transactions that I would like to duplicate each year but have different totals. Thanks
Hi, how can one create under transactions an operating expense to be accrued under a specific accounts payable chart of account, and then record a payment against that accounts payable to balance out the transaction.
Example.
Vendor Trex is to be paid in the current year and under operating expense it is categorized as supplies while under liabilities it is categorized as Supplies payable.
Hence want this amount accrued so it appears on my income statement to be paid at a later date while it appears on my balance sheet under Supplies payable (current liabilities). issue here is how to record payment to balance current liabilities and debit my bank account to complete the transaction once paid.
Bills under purchases does this automatically but challenge is it posts all accruals to a single accounts payable chart of of accounts and does not allocate to specified current liability accounts.
Hope this question makes sense and would appreciate prompt feedback.
Comments
hi @Allan_in_Florida as you've already noticed, bulk categorizing transfers isn't an available option. Transfers will need to be done manually by categorizing each transaction as a transfer.
hi @FeralFelt when making a transfer between two credit cards, you should be able to complete it by following the same step. Categorize the transaction as "Transfer to Bank, Credit Card or Loan > Select the other credit card account".
Hi @Barsin , how are you? question lets say that in square I have a loan and I got the money transferred from them
my transaction in Square is for $65, then my fees is $1 then the took $10 from my loan repayment then because i have debit card with them they give me a balance or they do and adjustment of$2..These $2 are already included on my transfer of $57 . how would do you record everything? because when I do it I got another transaction from transfer of $ 2 dlls.
That is normal?
thank you.
Hey @Liliana , Square loans are something I'm not familiar with so for that reason I would recommend reaching out to a CPA or accountant who can properly advise you on the best way to account for this.
However, in our Help Center we do have have a couple of Help Center articles which may push you down the right path. This includes how to record loans and how to handle merchant fees. Check them out!
Hi, how can one create under transactions an operating expense to be accrued under a specific accounts payable chart of account, and then record a payment against that accounts payable to balance out the transaction.
Example.
Vendor Trex is to be paid in the current year and under operating expense it is categorized as supplies while under liabilities it is categorized as Supplies payable.
Hence want this amount accrued so it appears on my income statement to be paid at a later date while it appears on my balance sheet under Supplies payable (current liabilities). issue here is how to record payment to balance current liabilities and debit my bank account to complete the transaction once paid.
Bills under purchases does this automatically but challenge is it posts all accruals to a single accounts payable chart of of accounts and does not allocate to specified current liability accounts.
Hope this question makes sense and would appreciate prompt feedback.