NC Iowa | farm160 - 2/5/2018 20:32
I don't understand your use of the equity category for taxable non farm income and non taxable non farm income. Given what you're trying to do, I'd set those up as "other income"
EDIT--- I'm trying to add the picture but it's not working--I'll keep trying
thanks,
i originally had the non farm items set up as 'other income' and 'other expenses' . i got to thinking about it, and thought they would still show up on a report as farm other income and farm other other expenses.
i thought maybe i should have had them in a non income and expense category to avoid them from being included when i ran my schedule f report. that is why i was considering parking them in the equity accts.
i have not tried to run a report yet, so wasn't sure where the 'other' categories would show up, or if they could be seen separately.
where to include them was the main question i had. i think you answered my question and confirmed i was right the way i had them set up originally.
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quickbooks accounts setup? help.
