It is easy to make a depreciation worksheet in Excel without using complex and conditional formulas. You only need to familiarize yourself with the SLN , DDB, and SYD formulas to compute depreciation. I’ll show you how I built a depreciation worksheet from scratch, from setting up column headers to entering formulas and using each…
How To
How to Use ADP RUN Payroll in 7 Easy Steps
If you’re new to ADP RUN payroll, you can get started quickly with the right preparation. Once your account is set up and your information is loaded into its platform, running payroll becomes a repeatable process that involves a few simple steps. In this guide, I’ll walk you through how to use ADP for payroll…
How To Write off Bad Debt in QuickBooks Online Like a Pro
To properly manage uncollectible accounts in your bookkeeping, it’s important to understand how to write off bad debt in QuickBooks Online. Step 1: Identify the bad debt. Step 2: Create a bad debt expense account. Step 3: Create a bad debt item. Step 4: Create a credit memo for the bad debt. Step 5: Review…
How To Make a Journal Entry in QuickBooks Online
Making a journal entry in QuickBooks should be rare and done only for specific purposes. Most of QuickBooks Online’s input screens automatically generate the necessary entries in the background. However, if you do need to create one manually, the process of how to make a journal entry in QuickBooks Online is as follows: Step 1: Navigate…
How to Calculate Payroll: Everything Employers Need to Know
Before hiring employees, make sure you know how to calculate payroll for your business. It helps you avoid costly pay-related mistakes, stay compliant with tax laws, and prevent paycheck issues that frustrate workers. You can do payroll manually, use an online small business payroll calculator, or run it through software. No matter the method, understanding…
How To Record Bank Deposits in QuickBooks Online
I’ll walk you through recording deposits in QuickBooks Online, from recording receipt of payment to recording noncustomer deposits and cash back.
When you’re in a rush, it may be tempting to get your payments into QuickBooks as quickly as you can and ignore some of the finer details. Don’t do it. Knowing how to record a deposit in QuickBooks Online and doing it properly will help you avoid headaches and keep your blood pressure down. So,…
How to Do Payroll in QuickBooks Online in 7 Easy Steps
If you’re already using QuickBooks Online and need to pay employees, consider adding QuickBooks Workforce (formerly QuickBooks Payroll) to your plan. You can access it from the same system you use to manage your company’s books, allowing for the seamless transfer of your payroll expenses to the appropriate general ledger accounts. In this guide, I’ll…
How To Use Classes and Locations in QuickBooks Online
QuickBooks Online Plus and Advanced let you organize and analyze your financial data using classes and locations, which you can enable in account settings. Once active, you can create categories tailored to your business structure and assign them to transactions like invoices, expenses, and bills. This allows you to generate detailed reports, including P&L by…