Glossary
Deferred Revenue: What It Is & How Bookkeepers Record It
Cash is in the bank but the work isn't done yet. Here's why that's a liability, not revenue, and how bookkeepers track every dollar until it's earned.
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Bobby HuangSearch
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Glossary
Credits and Debits: What They Are & How Bookkeepers Use Them
Every transaction hits at least 2 accounts. Credits and debits are the left/right columns that keep books balanced. Here's what that actually means.
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Bobby Huang
Glossary
Cash Flow Statement: What It Is & How Bookkeepers Build It
The cash flow statement reconciles net income to actual cash movement across operating, investing, and financing activities.
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Bobby Huang
Glossary
Balance Sheet: What It Is & How Bookkeepers Read It
Assets = Liabilities + Equity. Learn the 3-section structure, the bookkeeper review sequence, and 4 red flags every month.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize Microsoft 365 in QuickBooks (and Xero)
Microsoft 365 belongs in Software (Detail Type Software), Schedule C Line 27a. No 1099 to Microsoft. Sales tax varies by state. Plus annual-prepay treatment, Copilot, and Azure-split edge cases bookkeepers miss.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize Upwork in QuickBooks (And Why You Don't Issue a 1099)
Upwork goes to Contract Labor (Schedule C Line 11). You don't issue a 1099-NEC to Upwork OR to the freelancer: §6041 corporate exemption applies because Upwork is the payee. The direct-pay-outside-platform $2,000 TY2026 OBBBA threshold is the trap.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize Uber for Business in QuickBooks (Travel vs Meals)
Uber rides go to Travel (Schedule C Line 24a). Uber Eats food goes to Meals (Line 24b, 50%). Commuting is not deductible. Employer-convenience office Uber Eats programs went to 0% deductible TY2026+ per OBBBA. No 1099 to Uber.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize Stripe Fees in QuickBooks (Net vs Gross, 1099-K, and Refunds)
Stripe fees go to Merchant Account Fees (Schedule C Line 27a), NOT Line 17. Each Stripe deposit splits into gross revenue, fees, refunds, and sales tax. Net-vs-gross posting is the #1 trap. 1099-K TY2026: $20,000 + 200 transactions per OBBBA.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize Shopify in QuickBooks (Subscription, Payments, Capital, Apps)
Shopify is two categories at once: subscription (Software) and Payments processing fees (Merchant Account Fees). 1099-K TY2026 threshold $20,000 + 200 transactions per OBBBA. Shopify Capital is a loan, not income. Sales tax collected is a liability.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize QuickBooks Payroll Fees in QuickBooks (and Xero)
QuickBooks Payroll fees go to Legal & Professional Services (Schedule C Line 17). Wages go to Wages & Salaries (Line 26). Employer payroll taxes go to Payroll Taxes (Line 23). Three different lines, often lumped, frequently wrong.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize Google Workspace in QuickBooks (and Xero)
Google Workspace belongs in Software or Dues & Subscriptions, Schedule C Line 27a. No 1099. Sales tax depends on state. Annual $4,200 prepay deducts in full under the 12-month rule. GCP charges split out as Cloud Services.
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Bobby Huang
Chart of Accounts: The Complete Guide for Bookkeepers
How to Categorize AWS in QuickBooks (and Xero)
AWS goes to Cloud Services or Computer & Internet (Office/General Admin), Schedule C Line 25 or 27a. No 1099. Reserved Instances are prepaid expenses, not month-one writeoffs. §174 R&D tagging matters post-OBBBA.
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Bobby Huang