Understanding Retained Earnings in QuickBooks
42.1 هزار بار بازدید -
6 سال پیش
-
Have you pulled your Balance
Have you pulled your Balance Sheet and you are wondering where the “Retained Earnings” amount is coming from?
Let’s talk a little about what you’re seeing on your reports… 😊
Learn where retained earnings come from and why they are on the balance sheet.
➡️ Making reports Side by Side
Go up to Window
“Tile Vertically”/ “Tile Horizontally”
Cash Basis – At the moment you spend money it’s an expense, and at the moment you get paid from customers it’s Income.
Accrual Basis – At the moment you bill customers it’s Income, and at the moment you get the bill, it’s expense.
➡️ Profit & Loss
Has your Income, Expenses, Net Income.
➡️ Balance Sheet
Has your Assets, Liabilities, Equity.
➡️ Opening Balance
The account QuickBooks creates – a generalized account.
➡️ Retained Earnings
Profit you’ve made in the previous years.
➡️ Net Income
Current Year Profit
Timestamps:
0:00 - Intro
0:21 - Checking reports side by side
1:05 - Cash vs accrual basis
1:30 - Proft & Loss
1:41 - Balance Sheet
2:27 - Equity
3:06 - What is opening balance?
3:44 - Retained Earnings
4:27 - Net Income
5:01 - Negative in equity explained
5:50 - Why is retained earnings negative?
6:24 - Double-entry accounting
7:06 - Final Thoughts
Need to learn more areas of QuickBooks? Join us on our next workshop to learn how to design QuickBooks for your specific business...
➡️ https://CandusKampfer.com/workshop
Receive our QB tips straight to your inbox each week visit:
➡️ https://CandusKampfer.com/tips
Subscribe here for more QuickBooks tips
➡️ https://www.seevid.ir/c/CandusKampf...
I’d love to connect with you 👇
Instagram: Instagram: candus.kampfer
Facebook: Facebook: CandusKampfer
CandusKampfer.com: https://canduskampfer.com/
TikTok: TikTok: canduskampfer
Pinterest: Pinterest: canduskampfer
#CandusKampfer
Let’s talk a little about what you’re seeing on your reports… 😊
Learn where retained earnings come from and why they are on the balance sheet.
➡️ Making reports Side by Side
Go up to Window
“Tile Vertically”/ “Tile Horizontally”
Cash Basis – At the moment you spend money it’s an expense, and at the moment you get paid from customers it’s Income.
Accrual Basis – At the moment you bill customers it’s Income, and at the moment you get the bill, it’s expense.
➡️ Profit & Loss
Has your Income, Expenses, Net Income.
➡️ Balance Sheet
Has your Assets, Liabilities, Equity.
➡️ Opening Balance
The account QuickBooks creates – a generalized account.
➡️ Retained Earnings
Profit you’ve made in the previous years.
➡️ Net Income
Current Year Profit
Timestamps:
0:00 - Intro
0:21 - Checking reports side by side
1:05 - Cash vs accrual basis
1:30 - Proft & Loss
1:41 - Balance Sheet
2:27 - Equity
3:06 - What is opening balance?
3:44 - Retained Earnings
4:27 - Net Income
5:01 - Negative in equity explained
5:50 - Why is retained earnings negative?
6:24 - Double-entry accounting
7:06 - Final Thoughts
Need to learn more areas of QuickBooks? Join us on our next workshop to learn how to design QuickBooks for your specific business...
➡️ https://CandusKampfer.com/workshop
Receive our QB tips straight to your inbox each week visit:
➡️ https://CandusKampfer.com/tips
Subscribe here for more QuickBooks tips
➡️ https://www.seevid.ir/c/CandusKampf...
I’d love to connect with you 👇
Instagram: Instagram: candus.kampfer
Facebook: Facebook: CandusKampfer
CandusKampfer.com: https://canduskampfer.com/
TikTok: TikTok: canduskampfer
Pinterest: Pinterest: canduskampfer
#CandusKampfer
6 سال پیش
در تاریخ 1397/03/02 منتشر شده
است.
42,169
بـار بازدید شده