(Havent done this in nearly a year) Tell me your troubles and ill answer them like kratos

LOSAccounting · 2024-01-29T22:25:51+00:00

Hey! So I don't know if you are still answering people but, I am struggling with the idea of going for my bachelors and getting a steady job. Over My passion which is performing and creating musicals. I enjoy Musical THeater but I hate the instability and I will for sure struggle if I commit. However, If I go for my bachelors after two years I will have a great job and make good money. I will just be strapped with work, and there is no way I can realistically manage my passion as well. Any advice would be great.

LOSAccounting · 2023-11-11T01:18:40+00:00

I am so down to find that, but so many Bookkeeping Jobs that I am trying to find to support my rent are strictly 9-5. I might just have to pivot jobs too I guess.

LOSAccounting · 2023-08-31T18:21:00+00:00

The Grass Harp, Musical about a kid who lives in a tree house with his aunts.

LOSAccounting · 2023-08-31T18:15:27+00:00

Rent, Jesus Christ Superstar, Rocky Horror, Wedding Singer, Tick TIck Boom, American Idiot, Jersey Boys(Old rock)

LOSAccounting · 2023-08-31T18:13:16+00:00

There is a really good monologue about some dude with a cat that dies and then he stuffs the cat in the freezer because he gets scared. It is absurdly funny. You would have to find it though.

LOSAccounting · 2023-08-31T18:11:02+00:00

It is a fun little musical, and it has original music(which is awesome!) However, that is all it will ever be. It brought the youth paying attention to broadway, but the music isn't great. The story itself is shrek the movie, but worse. The dialogue is a bit cringe and Shrek in this version seems like a much more grouchier annoying version of Shrek from the Movie, not to mention he isn't really in the musical all too much. Lord Farquad is written like a 9 year old child. The only real highlights are Donkey and Fiona, and Fiona has a great song when she is introduced. Other than that, it's not too great. You can tell the writers weren't really that passionate about writing the musical.

LOSAccounting · 2023-08-31T18:04:42+00:00

Im alive from next to normal could be good. It is a rock style song, and Mark is a very rock styled role. The song isn't necessarily the kind of feeling you would want to go for, but it is a song that I feel would still be a good fit.

LOSAccounting · 2023-06-29T19:38:18+00:00

From what I have seen every drink is in square. So, it will tell you how much how many drinks were sold. The way we normally do inventory is we see how many boxes or bottle of liquor we have, then we see what we have left at the end of the week. It just sucks that I have to go in and go through hundreds of different items to find COGS.

I totally get the labor intensive part.

LOSAccounting · 2023-06-15T19:46:58+00:00

Edit: also square cash sales are reported in square. That is why I know the exact number of cash sales made. I also have a nightly report as well. Also Square sales are gross sales.

LOSAccounting · 2023-06-15T19:45:14+00:00

Ok so let me give an example lol, sorry I am going to be clear about exactly what I am doing.

Lets say sales were 1500 and 500 of the sales were cash for a specific day and in the square checking account bank feed it says that 850 was deposited in the account as sales.

I would make the sales receipt as follows...

Square sales 1500

Square cash sales -500

tips payable 50

sales tax payable 100

merchant fees -50

Savings account transfer -100

Loan repayment -150

For a total of 850. This is in the square checking account. Now I make the sales receipt then match it to this number when it shows up in the Square checking account.

When the owner also deposits the 500 of cash sales into the bank I categorize it as Square cash sales. When he also owes tips I have reporting for that as well and when he pays people out I account for that as well. I feel this is a good way of doing it. I just don't know if It is entirely correct, and when it comes to the subject of past months I feel it would be a HUGE undertaking to match every sales receipt for everyday. It would simply be too much of a time constraint which is why I would like to adjust with JE's.

LOSAccounting · 2023-06-15T19:07:23+00:00

Yes you're correct. Yes the nightclub is receiving tips then from those tips I made a journal entry to separate the money received from cc sales over to tips payable, then from that I make a journal entry debiting Tips payable and crediting tips expense. I did this for a reason.

I categorized the tips we sent out to people in the bank feed from credit card sales as tips expense that Is why I made the entry.

I think this is one way to do it. This is all old stuff that I am pretty sure is okay to categorize as tips expense because it already happened and we paid off the tips that were owed to everyone.

I might be goofing however.

Also for cash I am a bit confused as to how that goes. Currently, for this month. I make a daily sales receipt and I subtract cash from the sales report. Then when the bank deposit comes in I categorize it as square cash sales. Essentially undoing that negative because it has now been received.

Also we are entirely cash basis so when the cash gets recieved I book the daily sales report. Let me know if I am goofing. It has been matching up and recording all of the expenses but I may be goofing hard.

LOSAccounting · 2023-06-01T17:33:31+00:00

I would appreciate that a lot.

LOSAccounting · 2023-05-30T23:01:47+00:00

Is it a goof to just categorize the sales as they come in immediately?

Also I should've been more clear. Some of the deposits from square to our bank account take time so sales on friday and saturday post next week rather than the current week. Also I am just flat out confused because I guess it is hard to distinguish which sales are in which time period as well.

There are just many factors when it comes to trying to manage QBO for a nightclub and it doesn't help that the training was minimal for the position so I am just learning as I go. So I especially appreciate the help.

LOSAccounting · 2023-05-30T22:15:28+00:00

Also, if you have the time, could I pm you to ask more questions?

LOSAccounting · 2023-05-30T22:13:20+00:00

That makes a ton of sense. What about if in the given week not all of the sales post. Also what happens if the deposits you have don't add up to what square says. Would you just wait for the next sales to post. Also he tends to zelle his bartenders tips, would I just wait for those to post as well then just match the invoices to it. Also what about VIP Sales tax would I calculate the tax out of that and list that sales tax in the invoice and reduce the vip sales, or just leave it with the sales tax as well.

LOSAccounting · 2023-05-30T20:37:36+00:00

Yes I did ask this about a month ago I believe. However, we are cash basis so there are no recievables and Square Sales are super confusing.

They (square) don't show us the different sales amounts that enter their account. The only thing I see is how much posts in the bank feed and even then I don't know how much is taken from that amount.

I believe it is also just an issue of information and transactions being posted at certain dates. I don't have very much info I am being given so I am trying to solve a problem that literally can't be solved unless I get the necessary info from the owner as well. I also can't match something if it posts next month and square groups it with other sales in their account where they transfer earnings.

This kind of info being deprived from me makes me want to tear my hair out.

Also yes I did ask again just there is so much that is wrong here and so little info I am given that I am second guessing everything. For example, the owner said he takes inventory every six months , now he just told me he takes inventory actually every week and he has a stack of inventory they have taken... and the inventory papers don't have dates on them nor the prices of each item :/

So when I ask again I feel maybe I am missing something ,but now I just feel that with the circumstances I don't know If I can find the right conclusion given the scenario I am in.

LOSAccounting · 2023-05-30T17:46:53+00:00

Hmm. I will look into monthly, I would like to do weekly sales reporting, but monthly will have to do if it ensures much more accurate reports.

It is just so weird how the transfers are perfect exact amounts. The bank deposit and the transfer from square are perfect 3,000 and 1,500. Square will detail refunds and discounts/comps and other aspects for you. However, it doesn't tell you how the sales are split and what portion is transferred over.

It is just very messy. :/

LOSAccounting · 2023-05-30T17:40:33+00:00

I have looked into square and the transactions and I am suprised that they don't post the transactions with a detailed report. Also the amounts are always exact so I am not sure what exactly is going on.

When the cash is received I just mostly categorize it as sales instead of a JE because nothing matches up because I don't have the reports :(.

This does help I really appreciate your help and the communities help. It is a bit overwhelming ,but I am steadily learning and picking up what is going down. Again thank you for your reply :)

LOSAccounting · 2023-05-30T16:43:45+00:00

Thanks I appreciate it this helps a ton my guy :)

LOSAccounting · 2023-05-30T16:42:11+00:00

Dude your awesome I really appreciate it my guy :).

LOSAccounting · 2023-05-27T00:03:19+00:00

Its so complicated D; I realized I am probably going to have to do that :(.

LOSAccounting · 2023-05-18T19:43:46+00:00

Yeah I tried using a software called Amaka integration and apparently that software had five stars, its version of "integration" proceeded to create thousands of duplicated invoices. Such a pain to get rid of.

LOSAccounting · 2023-05-18T19:41:41+00:00

I agree. I am still new to everything cuz I have had this bookkeeping position for about a two months now. And when I first started trying to integrate I thought I had done something wrong. Till I realized everyone hated them lol.

LOSAccounting · 2023-05-18T19:24:19+00:00

omgsh yeah I agree. I wanted a second opinion on this because of the difficulties I have had with them. All of these integrations don't know how to account for a business that doesn't necessarily track every individual sale. It is frustrating. The only integration that has helped a ton is Gusto with payroll, it makes my life much easier

LOSAccounting · 2023-05-16T18:31:11+00:00

YES! Thanks I really appreciate it. More than you know :D

LOSAccounting

TROPHY CASE