How to financials: Difference between revisions
From Pumping Station One
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* Verify that the month you want to import has not already been imported. Reimporting transaction data makes a quick mess in quickbooks. | * Verify that the month you want to import has not already been imported. Reimporting transaction data makes a quick mess in quickbooks. | ||
* Export a single entire completed month only. | * Export a single entire completed month only. | ||
* Log into quickbooks at [https://qbo.intuit.com/app/homepage] | * Log into quickbooks at [https://qbo.intuit.com/app/homepage] | ||
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* Select File Upload | * Select File Upload | ||
* Upload the QBO file you downloaded from the pex site. | * Upload the QBO file you downloaded from the pex site. | ||
== Categorizing PayPal == | == Categorizing PayPal == | ||
Paypal Income is handled a little differently from the other accounts. | Paypal Income is handled a little differently from the other accounts. We do not import individual transactions. Instead, we create journal entries from reports | ||
=== Get Report from paypal === | === Get Report from paypal === | ||
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* Select the completed month you want to export, and press "View Report" | * Select the completed month you want to export, and press "View Report" | ||
* Once the report is generated, Press "Download" next to the pdf combo box. | * Once the report is generated, Press "Download" next to the pdf combo box. | ||
* Rename the Downloaded file from ''MonthlyFinancialSummery.pdf'' to ''paypal-YYYY-MM.pdf'' | * Rename the Downloaded file from ''MonthlyFinancialSummery.pdf'' to ''paypal-YYYY-MM.pdf'' where YYYY is the 4 digit year, and MM is the 2-digit month | ||
=== Create Journal Entry in Quickbooks === | === Create Journal Entry in Quickbooks === | ||
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|Dispute Activity | |Dispute Activity | ||
|'''Member Dues''' | |'''Member Dues''' | ||
| | |'''Member Dues''' | ||
|paypal member dues - dispute activity | |paypal member dues - dispute activity | ||
|G&A | |G&A | ||
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|} | |} | ||
* The paypal statement lists Debit's as negative. Take the absolute value. | |||
* Ignore '''Transfers & withdrawals''' and '''Purchase activity''' for now, those are handled differently. | * Ignore '''Transfers & withdrawals''' and '''Purchase activity''' for now, those are handled differently. | ||
* Dispute activity may show up as a debit or a credit. Pay attention and make sure it matches in quickbooks. | |||
* Dispute activity is usually $0.00, you can skip it if it is | * Dispute activity is usually $0.00, you can skip it if it is | ||
== Resolving == | == Resolving == | ||
Find the receipt in RT for each transaction | Find the receipt in RT for each transaction, or in the area host spreadsheet | ||
=== General Area === | === General Area === | ||
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=== Cold Metals === | === Cold Metals === | ||
* [https://rt.pumpingstationone.org/User/Summary.html?id=378 RT:dba] | * [https://rt.pumpingstationone.org/User/Summary.html?id=378 RT:dba] | ||
=== CNC === | |||
* [https://rt.pumpingstationone.org/User/Summary.html?id=7869 RT:ekobrucki] | |||
== Category == | == Category == | ||
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* Software licenses | * Software licenses | ||
** Going to categorize these as office expenses. The "Regs, licenses, and fees" account will be used for government dealings. | ** Going to categorize these as office expenses. The "Regs, licenses, and fees" account will be used for government dealings. | ||
* | * Online ACH Payment 4970812665 To Cleaners (_######8663) | ||
** | ** Flying Broomstick / Office Expense / G&A | ||
* Checks | * Checks | ||
** Office expenses. | ** Office expenses. | ||
* Bank detail Chase ACH Payments Monthly Fee | |||
** Chase Bank / Bank Charges / G&A | |||
* SMALL BUSINESS ICPAYMENT | |||
** Chase Bank / Laser Cutter Loan / G&A | |||
