Free Accounting Software Forums
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How do I best enter a expense paid by someone that needs to be reimbursed?
E.g. I paid parking fee for networking event with cash. I'd like my company to reimburse me for this.
My guess is:
Type: Cash payment
pay to: City council
Account code: Parking fees
However this is only the expense part. I would like to also enter the reimbursement from the company bank account to mine.
In reality a monthly expense statement might have 10 transactions, so if I can get away with 10 transactions (each their own pay-to, Account code and amount), and one reimbursement entry that would be great.
Sorry for this possibly basic question, but I just want to do it correct for this system.
Whilst this is over a month later than I would have liked there are some good reasons why it's taken so long and it's worth the wait. This year we have used the new ATO/SBR technology known as SBR2 and we have been the first software provider and tax agent to lodge the Company tax return using this technology. SBR2 also enables some new forms like the Individual tax return for tax agents so it was important to make the switch.
Given that we have used this new technology for the tax returns we are really well placed to implement the tax returns on time next year and there are also some portal functions like account listing that are being made available through SBR2 that we will implement.
Also during the next part of the year I plan to implement SuperStream so that businesses with employees can pay the super funds in much the same way that they are currently lodging their BASs.
Also the number of users continues to grow and we have now had over 25,000 users join.
At this point it would be great to get some feedback and comments. Please post your comments below.
Can you tell me how to do a trial balance in the system
Why I cannot generate PAYG Summary?
I follow the instructions video carefully.
I could not find my AUSkey using the instructions you gave, but found this on the ATO website, and it worked for me:
Here are the instructions on how to find your AUSkey on OSX Lion. Lion hides your ~Library folder so these instructions have to be followed to find the AUSkey.
[EDIT by Glen: Instructions removed as it was actually from another software providers website. See reply for instructions]
If so, how can I do it through Free Accounting Software ? Thanks
I have attempted several times to open the Invoice Template to customise it and it keeps downloading a zip folder instead of opening up a document as shown in your video. I then downloaded Libra to see if that was the issue, but nothing changed.
Do you have any idea what's happening?
Thanks very much for FAS - it's really user-friendly.
Please excuse my ignorance - but just have a query about how to handle inventory that's paid for in advance. I have watched the video to help set up measurables and have gone through the forums - but I am not quite sure how to set things up if I have made 2 or more advance payments and then received my inventory a month or so later.
Any assistance would be much appreciated.
I want to setup a new customer and generally want to exempt this customer for tax. The customer is in NZ. I go there and work there for a couple of weeks. As the nature of the business is in NZ I do not have to charge him GST.
Your help is much appreciated.
New at this and have followed setup videos. Trying to enter an employee payslip and when I try and save I get a message error=error, you have not selected an account please select and retry.
I have double-checked everything. Employee selected, measurement correct and tax calculating correctly. What account is the error message referring to?
I have just tried to lodge my first BAS statement using Free Accounting Software, but when I try to retrieve my activity statements from the ATO using my Auskey through Free Accounting Software it does not work and I receive this message:
Messages (note that messages created when lodging are not removed until re-lodgement)
Error, FASBOT.ERR, List did not succeed, List did not succeed
Error, CMN.ATO.AS.EM139, EM139NoAsAccount
I can access my BAS statement through the ATO Business portal, I was just wondering if you could help me to access it through Free Accounting software so I can pre fill the statement with the information from Free Accounting Software?
How would I account for a PAYG Installment Obligation from my BAS return ?
I want to enter the receipts of thing my business is buying. My confusion is, inside ether one of these headings I can put cash received or cash payment.
a)Base Premium = X
b)FSL = 0
c)Insurer Policy Charge = X
d)Insurer Total GST = 10% of a +c
e)Stamp Duty = X
f)Broker Fee = X
g)Broker Fee GST = 10 of F
h)Invoice Total = too much! :)
Am I right in thinking that I need to journal these amounts into their applicable accounts? I can't see a way of doing this in the accounts payable section unless I put the total sum into Insurance premiums and then manually adjust the GST.
Then, do I need to account for the stamp duty payment somewhere??
I have opened a new bank account for my new business and have deposited $500 into it for starting capital. How do I post this transaction/opening balance?
Thanks for this software, I was trying to build an access database however this is prefect for my requirements.
I hope you can help me out with a Bank Rec issue - I need to "delete" the rec that was done and redo it correctly, however I cannot find how I can do this. I have located the ungroup option and tried this but when completing the rec again I have multiple balances (offsetting so it nets to zero) but it looks messy.
Is there a way to completely delete the rec and re-perfom this correctly leaving only the correct entries, not multiple balances.
thanks in advance.
I have already entered some transactions but confused how to enter stat up capital could please help. For example start up $95000 out of this $80000 borrowed fund $15000 owner contribution. How do you enter this?
It is on this Friday, 23 August 2013 at 10:00 am at the Blacktown BEC.
The presentation will cover the basics of bookkeeping and financial management for small business owners. I will demonstrate basic bookkeeping tasks using Free Accounting Software. Participants will learn how to set up and maintain bookkeeping records for their business and how to prepare and lodge their BAS and make sure that it is correct.
To register go to http://www.stickytickets.com.au/11985/basic_bookkeeping_for_business_owners_blacktown.aspx
or call the BEC on (02) 9011 6812.
Is there anyway to see all the transactions a customer has had. Or for that face all the transactions from a supplier.
I have a lot of repeat customers and it would be great to click on their customer link and see all the previous orders I have done for them. Also to see at a glance what orders I have made from a particular supplier and how much each was.
I am finding that this function would be very useful more and more these days. Do you think this is something you are working on in the future?
I have a customer who regularly pays the incorrect amount on their invoices, either more or less. How can i apply a different amount to the invoice payment when reconciling.
thanks in advance
For some reason when I entered the opening balance for the bank account being the 30/06/2012 it keeps coming up with this error:
Error: trying to add entry with postingDate 2012-06-30 but entriesClosedToDate is 2012-06-30
What am I doing incorrectly? Thanks Victor.
I am setting up the Sales Invoice and the basic layout appears fine but I as I am not registered for GST I was wondering whether you had a template already for something like this. Also where do I adjust the header so that the it says "Invoice" instead of "Tax Invoice" or have I been given bad advice.
----- The following addresses had permanent fatal errors -----
(* substituted for the real address)
I used a semicolon to separate the individual email addresses.
Is this the right way to do it?
Is it possible to do this?
how many key strokes do you get per line ?, as I had a detailed invoice and only a couple of lines showed up on the PDF
it's using receivable worksheet/ payable worksheet?
EG 4-5000 Income
4-5001 Men's Shed
4-5300 Event Income
4-6000 Play Group
And so on, without this distinction I'm puzzled how the income from various organisations can be reported seperately and in a similar manner expenses.
Your advice would be appreciated as it didn't seem to be included in any of the video's or the manual
I have been working with the software for a while and it is great! I have been working exclusively with cash, but now gearing up to use the business bank account as well for payments and expenses.
My questions are as follow:
1) where do I enter my opening bank statement balance.
2) how should I write down direct debit? is it still consider under "cash"?
3) same question if someone deposit payment directly to my account. do I still do the receipt under "cash"?
4) How do I write down debit card transactions?
Thank you in advance, and keep up with the good work!
Thanks in advance
When creating new customers, employees etc, do you recommend selecting C or Customer; E or Employee etc?
e.g. I enter sale item value of 100, application fills in gst of 10, and total of 110
How do I change my Login username?
I may have overlooked, but I couldn't find a video on how to create your own credit sales invoice?
I would like to create a customised invoice; adding my logo and also payment details for my clients. Where and what fields do I enter the payment details? My clients can pay directly into my bank account and also via PayPal.
Your guidance is highly valued and appreciated.
Been using the software and loving it...
Quick question: what's the best way to handle payroll payments?
I run a photography studio. Most of our income is from sales direct from the customer. However occasionally we sub-contract to other studios. What category should I put this cash payment in? Is it still sales revenue?
I am not registered for GST so I clicked on the GST to be Not Applicable. I then read that I need to have this setup anyway. How do I set up the new tax codes? I went into the taxes section to create a new tax but I don't really know what I need to do? I am a brand new business and would also like to know how to enter my opening bank balance and bank loan balance?
Can we print or export our profit & loss statements?
I have exported a stack of data out of Xero to csv, and want to import all to FAS. Is there a template of how i should set up all the info to import?
So that my bookkeeper can more easily keep track of my eftpos transactions, when I enter the sales into myob, I put them into an account called undeposited funds. Then at the end of each day I prepare a bank deposit in myob which totals the eftpos takings for the day and puts them into my business bank account in myob. This means the eftpos deposits shown in my bank statements match my eftpos deposits into my bank account in myob.
My question is; is there a way I can do this in Free Accounting Software?
My question today is and I think this one will make me look like the total newbie I am. What is a simple way of entering a Pay Pal payment? Do I just put in the net amount and forget about the Pay Pal fee for the transaction. Also do I also need to separate out the postage charge that was part of the payment?
I would like to use this software to email a purchase order (to consolidate everything in order to not double handle)
My original thoughts were to create a "Credit purchase" then when the goods arrive I can make a "Cash Payment"
How ever I am not GST registered (so my tax description is No GST Applicable) yet the companies I purchase my goods from are GST registered so the purchase order needs to show the GST component.
Any ideas how I can show the GST on the "Credit Purchase" in order to email it as a purchase order but have no GST applicable when it comes to making the cash payment?
Cheers for your help
And if I start to use Free Accounting Software in Oct, how do I enter the Balances from the Trial Balance from the Sept Qtr?