Quickbooks – how to record personal withdrawal?

Question
What account do I use to pay myself (not a corporation) and transfer monies from my business to my personal accounts?

Respones
Do you have your personal checking account(s) setup in the same QuickBook company file? Are you setup for online banking to download the transactions? Assuming that neither of the above is true, the Chart of Accounts should have owner/equity accounts that you would debit when withdrawing money from the business and credit your bank account to reduce the monetary balance. You can rename the account in the Chart of Accounts as well as create new equity accounts (say, one for each partner).

Quickbooks – tracking probono work

Question:
Just starting law office and doing some probono. However, I want them still to show. Do I create an invoice and write off the amount? How is the best way to do this?

Quickbooks – billing for Time

Question:
I want to bill for attorney time, legal assistant time and create invoices with the attorney and/or legal assistant time on the invoice. I cannot find an invoice template that offers this or add a column/create new field. Anyone have a template?

Response:
First verify that you have time tracking turned on by edit/preferences/time & expenses/company preferences/do you track time –> yes and selecting your first day of the week. It will ask to close all windows and then when you click on the ‘home’ icon, you will see an ‘employee’ section there with the option to enter time. When you enter time using the weekly time sheet, notice the last column. It has a check box to indicate whether the time is billable or not.

Alternatively, you can also enter time as a single activity. Now, when you create an invoice, at the bottom, there is an option/box for ‘add time/costs’ which when selected shows a tab with time activities previously entered in your timesheets. Select the appropriate ones to include on the invoice.