What are noncash investing and financing activities, and how are they recorded in QuickBooks?
You should have a Quickbooks manual in which to look up things like this.
http://http-download.intuit.com/http.intuit/CMO/quickbooks/2016/docs/QuickBooks_2016_User_Guide.pdf
Noncash investing and financing activities refer to transactions that do not involve the exchange of cash but still have an impact on a company's investing or financing activities. These activities typically involve the acquisition or disposal of assets or the issuance or retirement of debt or equity instruments.
In QuickBooks, noncash investing and financing activities are recorded using journal entries. Here is how you can record these transactions:
1. Open QuickBooks and go to the Company menu.
2. Select Make General Journal Entries.
3. Enter the date of the transaction.
4. In the Account column, select the appropriate account for the transaction. For example, if you are recording the acquisition of an asset, select the asset account.
5. Enter the amount of the transaction in the Debit or Credit column, depending on the nature of the transaction. Debit represents an increase, and credit represents a decrease in the account balance.
6. Repeat steps 4 and 5 for each account affected by the transaction.
7. Click Save & Close to save the journal entry.
It's important to consult with your accountant or bookkeeper to ensure that you are accurately recording the noncash investing and financing activities in QuickBooks. They can guide you through the specific accounts to use and ensure that the transactions are recorded correctly.