Have you ever posted to incorrect accounts or classes for a few months in Quickbooks? One way to resolve the problem is to go back to each transaction and change it manually. This is both tedious and time consuming. Fortunately, Quickbooks has an accountant’s tool called “Reclassify Transactions.” This tool is available only in the Accountant’s Copy of Quickbooks for both online and desktop versions. With one click of a button, we can change transactions in batch. The next time you make this kind of mistake, please call us. It will take us far less time than it would take you to fix the errors.
Shareholders Running Afoul of the IRS
Many small businesses are taxed as S corporations because of tax benefits, such as the ability to avoid corporate tax on certain business earnings. Unlike C corporations, S corporations generally do not pay federal income taxes at the corporate level. Alternatively,...
