Comments for Accounting Unleashed!

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Comment on Accounting humor – debits go on the left! by Bink

Bink — Tue, 21 Jun 2011 20:38:35 +0000

I heard this joke in my accounting class at Sir George Williams University in 1962. It was pretty much the same right down to the desk drawer and at that point the punchline was “The debits are on the window side.”

Sorry about the bump.

- Bink

Comment on QuickBooks Training: Using QuickBooks Classes by tony

tony — Sat, 02 Apr 2011 17:05:42 +0000

Great video tutorial, it is helping me clear up my understanding and use of the classes option to distingush between companies I follow in quickbooks.
In the viedo when you used the class for a vendor reciving a bill you checked the class that is bieside the vendor name.
When you assigned a class to a customer job or transaction you used the class option on the area where the item is being invoiced.
Is there a difference?
My doubts are when assigning a class whether it should be assigned to the originator of the bill/invoice, the person receiving the payment.
Like if company A sells to Company B, who should the invoice be assigned to? Comp. A or Comp. B?

If when receiving a bill:
Company A receives bill from company B. How is the bill classsified? By A or By B?

Thanks,

Tony