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multi postings

Posted by Debra 
multi postings
January 23, 2014 04:59PM
Please help. We pay an accountant friend to do our books using Quickbooks and I'm FRUSTRATED. We often pay our bills for home office out of personal account and get company to reimburse us for the business portion--utlities like internet access, etc. When I ask for reports for the end of the year for tax purposes, I get 150 pages of postings 5 cents here, 10 cents there, 46.78, etc. for utiltity. For two months of internet access it takes 28 lines!!! Why is Quickbooks breaking this stuff out so many numbers? What can he be doing that makes this mess??? Any suggestions for handling reimbusing expenses to owner???
Re: multi postings
January 29, 2014 01:44PM
When he posts a credit or offset to something, it disburses it out between every line item by percentage. How can we stop this? Help please
Re: multi postings
January 31, 2014 02:57AM
QuickBooks does not break down transactions unless you manually enter it in one by one. To reimburse expense is not difficult at all, you would just need to have a little knowledge of accounting. The journal entry should be as follows:

Internet expense $50
Owners Equity $50

Reimburse

Owners Equity $50
Bank Account $50

If you would like we can refer you to an accountant who will be able to help out.
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