Mikeg ✭✭✭
Community stats
- Username Mikeg
- Email;
- Joined
- Visits 3,897
- Last Active
- Roles Member
- Points 385
- Badges
- 15
- Posts
- 995
Reactions
-
Re: Tracking real estate loans
@mdkoch84, I would use Long Term Liabilities. Using the accounts under Loan and Line of Credit assumes it will be connected. Since it cannot, there is less flexibility to categorize transactions from… (View Post)1 -
Re: Struggling with Sales and COGS
@Angie015616, I would recommend categorizing all purchases of products for resale to Purchases. Since you have a high volume of activity I would use a journal entry to true up the inventory balance o… (View Post)1 -
Re: Tracking real estate loans
@mdkoch84, If you want to know the principal balance on a monthly basis then you would split the disbursement between Interest Expense and Mortgage Payable - XYZ. Follow the amortization schedule to … (View Post)1 -
Re: How to record payment that I make on behalf of client?
@MNE, The amount you bill a client should be considered your gross revenue which would include reimbursed expenses. Court filing fees etc. would be categorized accordingly, as they are paid. You coul… (View Post)1 -
Re: Retroactive pay
I would increase the pay by the amount of gross wages that were due. If you have other items such as deductions, I would make one time adjustments to catch those up as well. Best of luck (View Post)1
