Issaquah's YouTube channel is great if you want to see what's going on in town. The video guy, Tim Smith, made it fun to participate in the "We've Got This, Issaquah" video compilation about small business resilience in the face of a pandemic and shut down.https://www.youtube.com/watch?v=iYBXpVB54iw&t=0s
YOUTUBE.COM
Local Businesses: We Got This Issaquah
It's now easier to contact QC Computing LLC.
Accounting for Stock Market Investments. Recently I was privileged to work with a client whose income came half from real estate rentals and half from stock market investing. After a series of QuickBooks accountants and bookkeepers had messed up his bookkeeping, it was like a tangled mess of hair. Different people had tried this and that way of tracking his stock market investments, none of which were successful.
QuickBooks is the ideal software for business, and property rentals, so I recommended he leave that part of his business there. But I recommended that he switch to Quicken to account for his stock market portfolio. Quicken is better suited for stock market investments than Quickbooks. For example, one drop down choice in Quicken includes "stock split". How else would you track that one share became two shares, but the purchase price and brokerage fees didn't change?
What tax preparers want to know is date of purchase, # of shares purchased, total cost, minus any brokerage fees. Even if you hold that stock for years, decades, you still need this information when you sell for tax purposes. Make a file for "stock purchases" to store the paper that outlines the trade there. One advantage of Quicken is that if the stock pays dividends and interest, you can see watch how profitable this stock is for you.
If I had to track stock market investments in QuickBooks, I would use items and track it the way one tracks job costing. Each stock would be an item, with additional items for brokerage fees, etc. The purchase would be tracked as a purchase order, and the sale as a sales receipt or invoice/payment. There is a job costing report to show profit. But once again I recommend Quicken for tracking your stock portfolio.
Accounting for Stock Market Investments
It's back! QuickBooks for Mac has a new update for 2019 (last update was for 2016 at which time Intuit announced it would never update the Mac version again so this is a happy surprise). Here are a few of the more prominent features released with this update:
iCloud Document Sharing – Convenient method for sharing QuickBooks for Mac file using iCloud sync. Modify your books on your work Mac computer then continue where you left off on your home Mac computer.
Bank and or Credit Card Reconcile Discrepancy Report – Identifies changes made to reconciled transactions (for newly created transactions, not those prior to this release).
Square Import - Importing sales data from Square via use of .csv file type.
Email Tracking – Track dates emails sent with a tab in the Vendor or Customer Centers.
Report Windows – Improved spacing and readability.
User Passwords – Now required. Personal information is encrypted.
This content is from Laura Madeira's, QuickBooks Desktop 2019: What's new and improved. For all the changes coming with various versions of QB 2019, here is the link to her Firm of the Future blog: Laura Madeira's, QuickBooks Desktop 2019: What's New and Improved.
The picture is from Insightful Accountant. Here is the link to their article: QuickBooks 2019 Desktop - 'Our Summary'
You would consider Frontgate a reputable business, right? Well, think again. Only because I'm an accountant will I be getting a full refund from them for an expensive dining room table. First, they never issued a receipt for the full price (including shipping), I only know it because I asked and wrote it down when I gave her my credit card. Next, I know it seems like a bother to go through receipts relative to the credit card statement but it only takes 15 minutes and I couple it with watching a movie. Because I do it I can warn you that Frontgate would have NEVER given me a refund. First month, no refund as promised. 2nd month, partially refund. wtf? 3rd month, no refund on the rest as promised. 4th month, we'll see? Perhaps I'm special, or perhaps this is how they do business? Have you ever had an experience like this?
