Show Me QuickBooks 2004

• Table of Contents • Index Show Me QuickBooks® 2004 ByGail Perry Publisher: Que Pub Date: February 19, 2004 ISBN: ...

Author: Gail Perry

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Table of Contents

•

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

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Table of Contents

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Copyright

ShowAcknowledgements Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Acknowledgments quickly and visually with this user-friendly method of training. Each task includes a screenAbout the Author by-screen visual accompanied by a concise text description that makes performing everyday We Want to Hear from You! tasks quick and simple. Introduction What You'll Learn The Best Place to Start How This Book Works Chapter 1. Setting Up Your Company with the EasyStep Interview Introduction Entering Company Data The Getting Started Checklist Stopping and Restarting the Interview Setting Up Income Accounts Setting Up Expense Accounts Setting Up Items Setting Up Customers Setting Up Vendors Chapter 2. Setting Up and Using Payroll Features Introduction Setting Payroll and Employee Preferences Setting Up Employees Setting Up Employee Payroll Information Setting Up Employee Payroll Taxes Setting Up Sick and Vacation Benefits Entering Year-to-Date Payroll Amounts Setting Up Payroll Deductions Preparing Paychecks Creating Employer Payroll Reports Paying Payroll Taxes with Form 941 Paying Federal Unemployment Compensation Taxes with Form 940 Preparing W-2 Forms Issuing W-3 Forms Employees vs. Independent Contractors

Setting 1099 Preferences Issuing 1099 Forms Outsourcing Payroll Chapter 3. Adding or Changing Information After the Interview Is Completed Introduction Setting General Preferences Setting Desktop View Preferences

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Table of Contents

Sorting Lists

Index

Adding Accounts Show Me QuickBooks® 2004 Using Account Numbers ByGail Perry Adding Customers Adding Vendors Publisher: Que Adding Items in the List Window Pub Date: February 19, 2004 Types of Items ISBN: 0-7897-3078-2 Adding Information On-the-Fly Pages: 320 Creating Subitems Hiding Entries on Lists Deleting Entries on a List Merging Entries on a List Printing Lists

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Setting Accounting Preferences accounting software for small businesses. They are able to find answers to their questions Chapter 4. Invoicing and Collecting Income quickly and visually with this user-friendly method of training. Each task includes a screenIntroduction by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Setting Sales and Customers Preferences Creating an Invoice Printing a Single Invoice Printing a Batch of Invoices Emailing an Invoice Charging Expenses to a Customer Setting Finance Charge Preferences Creating a Monthly Statement Setting Send Forms Preferences Tracking Accounts Receivable Receiving Payments for Invoices Issuing a Credit or Refund Receiving Cash Making Deposits Receiving Advances and Down Payments Issuing Discounts Viewing Unpaid Invoices Creating a Collection Letter Recording Bad Debts Chapter 5. Making Purchases and Recording Payments Introduction Setting Purchases and Vendors Preferences Using Purchase Orders Viewing Items on Purchase Orders Viewing Vendor Information Receiving Goods Paying Bills Taking Discounts Setting Checking Preferences Writing Checks Printing Checks

Using the Check Register Creating Purchase Reports Chapter 6. Collecting and Paying Sales Tax Introduction Setting Sales Tax Preferences Creating a Sales Tax Item Charging Sales Tax to Customers

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Table of Contents

Selling Tax Exempt Items

Index

Selling Items to Tax Exempt Customers Show Me QuickBooks® 2004 Producing Monthly Sales Tax Reports ByGail Perry Paying Sales Tax Taking a Discount for Early Payment Publisher: Que Chapter 7. Using Timesaving Features Pub Date: February 19, 2004 Introduction ISBN: 0-7897-3078-2 Memorizing Transactions Pages: 320 Memorizing a Group of Transactions Using Memorized Transactions Scheduling Recurring Transactions Add a Memorized Transaction to Your Icon Bar Changing Memorized and Scheduled Transactions

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Removing Memorized Transactions accounting software for small businesses. They are able to find answers to their questions Setting Reminders Preferences quickly and visually with this user-friendly method of training. Each task includes a screenUsing Reminders by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Chapter 8. Job Cost Estimating and Tracking Introduction Setting Jobs and Estimate Preferences Job Cost Estimating Setting Up a Job Creating an Estimate Invoicing Against an Estimate Revising Estimates Creating a Work in Progress Report Chapter 9. Tracking Time Introduction Setting Time Tracking Preferences Installing the Timer Exporting Information to the Timer Creating New Timer File Keeping Track of Time Creating a Timed Activity Using the Timer Sending Timer Data to QuickBooks Opening Timer Data in QuickBooks Billing Time from the Timer to the Customer Chapter 10. Miscellaneous QuickBooks Features Introduction Setting Spelling Preferences Creating a Budget Producing Budget Reports Setting Up Classes Using Multiple Classes on One Form Creating Payment Terms Customizing Forms Voiding Checks

Making Journal Entries Using the Audit Trail Using the QuickBooks Remote Access Feature Creating Mailing Labels Chapter 11. Using QuickBooks Online Introduction Setting Service Connection Preferences

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Table of Contents

Activating Your Online Bank Account

Index

Why Bank Online? Show Me QuickBooks® 2004 Retrieving QuickStatements ByGail Perry Matching Transactions Making Online Payments Publisher: Que Sending Online Messages Pub Date: February 19, 2004 Transferring Money Between Accounts ISBN: 0-7897-3078-2 Getting Reports of Online Transactions Pages: 320 Using the QuickBooks Web Site Using the Internet Version of QuickBooks Chapter 12. Preparing Income Tax Returns Introduction Choosing the Correct Income Tax Form

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Which Income Tax Form Should You Use? accounting software for small businesses. They are able to find answers to their questions Assigning Tax Lines quickly and visually with this user-friendly method of training. Each task includes a screenAccessing Reports by-screen visualTax accompanied by a concise text description that makes performing everyday tasks quick and simple. Paying Estimated Taxes Creating a Tax Return Using QuickBooks with TurboTax Chapter 13. Security Introduction Backing Up Your QuickBooks Company File Restoring Backed-Up Information Organize QuickBooks Transactions with a Daily Checklist Using the QuickBooks Online Backup Service Setting Up the Administrator Adding Users Removing Users Closing Financial Records at Year-End Chapter 14. Using Inventory Features Introduction Activating Inventory Setting Up Inventory Items Recording Manufacturing Inventory in QuickBooks Adding to Your Inventory Editing Inventory Items Methods of Valuing Inventory Creating an Inventory Group Setting Up Reminders to Replenish Your Inventory Preparing Inventory Reports Counting Your Inventory Adjusting Inventory Quantities Adjusting the Price of Inventory Chapter 15. Recording Your Assets Introduction Reconciling to Your Bank Statement Recording Automatic Teller Withdrawals

Tracking Petty Cash Receiving Credit Card Payments Recording Deposits As Assets Purchasing Fixed Assets Calculating Depreciation Entering Depreciation Selling Fixed Assets

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Table of Contents

Chapter 16. Recording Owners' Equity

Index

Introduction Show Me QuickBooks® 2004 Understanding the Opening Balance Equity Account ByGail Perry Recording Owners' Draws Entering Prior Period Adjustments Publisher: Que Managing Retained Earnings Pub Date: February 19, 2004 Chapter 17. Recording Liabilities ISBN: 0-7897-3078-2 Managing Accounts Payable Pages: 320 Recording Payroll Tax Accruals Recording Credit Cards Accounting for Deposits or Retainers Recording Loans Recording Loan Payments

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Usingsoftware the QuickBooks Loan Manager accounting for small businesses. They are able to find answers to their questions Chapter 18. Preparing the Top user-friendly Ten QuickBooks Reports quickly and visually with this method of training. Each task includes a screenIntroduction by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Setting Reports & Graphs Preferences Preparing an Income Statement Preparing a Balance Sheet Preparing a Trial Balance Preparing a General Ledger Report Preparing a Budget Report Preparing a Sales Tax Liability Report Preparing a Payroll Liability Report Preparing an Accounts Receivable Aging Summary Report Preparing a Job Progress Report Preparing Accounts Payable Aging Detail Customizing Reports Save Time by Placing Favorite Reports on the Shortcut List Memorizing a Customized Report Index

Copyright Copyright © 2004 by Que Publishing •

Table of Contents

All No part of this book shall be reproduced, stored in a retrieval system, or • rights reserved. Index transmitted by any electronic, mechanical, photocopying, recording, or otherwise, Show Me QuickBooks® means, 2004 without written permission from the publisher. No patent liability is assumed with respect to ByGail Perry the use of the information contained herein. Although every precaution has been taken in the preparation of this book, the publisher and author assume no responsibility for errors or Publisher: Nor Que is any liability assumed for damages resulting from the use of the information omissions. Pub Date:herein. February 19, 2004 contained ISBN: 0-7897-3078-2

Library of Congress Catalog Card Number: 2003114783 Pages: 320 Printed in the United States of America First Printing: March 2004 07 06 Me 05 04 4 3 2 1 helps readers learn visually how to perform tasks using the leading Show QuickBooks accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. All terms mentioned in this book that are known to be trademarks or service marks have been appropriately capitalized. Que Publishing cannot attest to the accuracy of this information. Use of a term in this book should not be regarded as affecting the validity of any trademark or service mark.

Trademarks

Warning and Disclaimer Every effort has been made to make this book as complete and as accurate as possible, but no warranty or fitness is implied. The information provided is on an "as is" basis. The author and the publisher shall have neither liability nor responsibility to any person or entity with respect to any loss or damages arising from the information contained in this book.

Bulk Sales Que Publishing offers excellent discounts on this book when ordered in quantity for bulk purchases or special sales. For more information, please contact U.S. Corporate and Government Sales 1-800-382-3419 [email protected] For sales outside of the United States, please contact International Sales 1-317-428-3341 [email protected]

Credits Publisher

Paul Boger Associate Publisher Greg Wiegand Acquisitions Editor • •

Table of Contents

Michelle Newcomb Index

Show Me QuickBooks® 2004

Development Editor

ByGail Perry

Kevin Howard Publisher: Que

Managing Editor

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Charlotte Clapp Pages: 320

Project Editor Tricia Liebig Production Editor Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting Megansoftware Wade for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Indexer tasks quick and simple. Chris Barrick Proofreader Leslie Joseph Technical Editor Greg Perry Publishing Coordinator Sharry Lee Gregory Interior Designer Anne Jones Cover Designers Anne Jones Sandra Schroeder Page Layout Stacey Richwine-DeRome

Dedication This book is dedicated to my two shining stars, Katherine and Georgia. Thank you both for brightening my life.

Acknowledgements Acknowledgments • •

About the Author Table of Contents Index

We Want to Hear from You!

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Acknowledgments A book like Show Me QuickBooks 2004 couldn't possibly be a one-person job. The group behind this project at Que Publishing forms a team in the very best meaning of the word. Everyone worked together to form a completed whole, and the result is the book you hold in • of Contents your hands. Table Let me just say a special thank you to Michelle Newcomb, who organized the • production ofIndex this book every step of the way. In addition, my hat is off to Greg Perry, who Show Me QuickBooks® rode shotgun on the2004 technical editing end of this book to make sure everything you read is easy understand and actually works the way it is supposed to. Thanks also to Megan By Gail to Perry Wade, Kezia Endsley, Tricia Liebig, Kevin Howard, and Sharry Gregory, all part of the team at Que. Thanks also to the kind and patient technical support team at Intuit, particularly Publisher: Que Jonathan Graham, who helped me work through some areas of the QuickBooks 2004 Pub Date: February 19, 2004 program that were still in production when this project began. Finally, there aren't enough words ISBN: I can0-7897-3078-2 say to thank my devoted husband, Rick, who enthusiastically supports my Pages: 320 of freelance projects and who keeps my computers humming. endless string

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

About the Author Gail Perry is a CPA and a graduate of Indiana University. She has worked in public accounting for more than 20 years and has spent that time helping her clients make the best use of the tax laws and accounting rules that benefit them most. Gail is a former senior tax • Tablethe of Contents consultant with international CPA firm Deloitte, where she specialized in providing tax • Index and advice to small businesses. She has written hundreds of newspaper planning services Show Me QuickBooks® 2004 and magazine articles and is the author of several books, including The Complete Idiot's Guide to Doing Your Income Taxes, Special Edition Using QuickBooks 2002 , and Surviving By Gail Perry Financial Downsizing: A Practical Guide to Living Well on Less Income . Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

We Want to Hear from You! As the reader of this book, you are our most important critic and commentator. We value your opinion and want to know what we're doing right, what we could do better, what areas you'd like to see us publish in, and any other words of wisdom you're willing to pass our way. •

Table of Contents

• Index As an associate publisher for Que Publishing, I welcome your comments. You can email or Show writeMe meQuickBooks® directly to 2004 let me know what you did or didn't like about this book—as well as what we can do to make our books better. By Gail Perry

Please note that I cannot help you with technical problems related to the topic of this book. We Publisher: do haveQue a User Services group, however, where I will forward specific technical questions Pub Date: February related to the book.19, 2004 ISBN: 0-7897-3078-2

When Pages: you write, please be sure to include this book's title and author as well as your name, 320 email address, and phone number. I will carefully review your comments and share them with the author and editors who worked on the book.

Email: [email protected] Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Mail: Greg Wiegand quickly and visually with this user-friendly method of training. Each task includes a screenAssociate Publisher by-screen visual accompanied by a concise text description that makes performing everyday Que Publishing tasks quick and simple. 800 East 96th Street Indianapolis, IN 46240 USA

For more information about this book or another Que Publishing title, visit our Web site at www.quepublishing.com. Type the ISBN (excluding hyphens) or the title of a book in the Search field to find the page you're looking for.

Introduction How You'll Learn • •

The Best Place to Start Table of Contents Index

How This Book Works

Show Me QuickBooks® 2004 ByGail Step-by-Step Perry

Instructions

Organization of the Book

Publisher: Que

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

What You'll Learn Welcome to Show Me QuickBooks 2004 , a visual quick reference guide that shows you how you can take advantage of the nation's best-selling small business accounting program. •

Table of Contents

•

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

The Best Place to Start The best place to start is with a question. What do you want to know? What's not working the way you expect it to work? What QuickBooks features do you think should provide you with more value? What kind of information are you trying to get from your QuickBooks program? • Table and of Contents Ask the question then go to the table of contents or the index, or take a look at the • Indexguide to find the area of the book that contains the answer. troubleshooting Show Me QuickBooks® 2004

Chances By Gail Perryare, you'll begin by finding the answer to your question, and then you'll start paging through the book, discovering new features and learning tips for making your QuickBooks experience more worthwhile and efficient. Publisher: Que

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

How This Book Works Each task is presented on no more than two facing pages, with step-by-step instructions in the left column and screen illustrations on the right. This arrangement lets you focus on a single task without having to turn the page. •

Table of Contents

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Index

Show Me QuickBooks® 2004

Step-by-Step Instructions ByGail Perry

This book provides concise step-by-step instructions that show you how to accomplish a task. Publisher: Que Each set of instructions includes illustrations that directly correspond to the easy-to-follow Pub Also Date: included February 19,in2004 steps. the text are timesavers, checklists, and sidebars to help you work ISBN: 0-7897-3078-2 more efficiently or to provide you with more in-depth information. A "Did You Know?" feature provides tips and techniques to help you work smarter, and a "See Also" feature directs you Pages: 320 to other parts of the book containing related information about the task.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Organization of the Book Show Me QuickBooks is arranged in chapters that correspond with various features of the program. Although every chapter might not apply to your business, there's ample information about the QuickBooks program throughout the book, along with cross-references to other areas of the book, so after you find the answer to one question, you will likely be led to related information. By chapter, these are the topics covered in this book:

Chapter 1, "Setting Up Your Company with the EasyStep Interview"—Chapter 1 provides information about working your way through the EasyStep Interview, what information you need to have on hand before you begin the interview, what areas of the interview you can skip now and complete after starting the program, and how you can leave the interview and return later. •

Table Contents Up and Using Payroll Features"— Learn how to set up your Chapter 2, of "Setting Index activate payroll deductions, record vacation and sick pay, prepare employees, Show Me QuickBooks® paychecks, and2004 pay payroll taxes. Whether you use QuickBooks for your payroll or not, ByGail you'll Perry find useful information in this chapter about accounting for payroll taxes, distinguishing between employees and independent contractors, and issuing 1099 forms. •

Publisher: Que

Pub Date: February 19, 2004

Chapter 3, "Adding or Changing Information After the Interview Is ISBN: 0-7897-3078-2 Completed"— Whether you used the EasyStep Interview or not, there's bound to be Pages: information 320 more you need to enter in your QuickBooks company file as time goes by. This chapter shows you how to set up new accounts, customers, vendors, and items and explains how to manage the lists the QuickBooks uses to organize all this information.

Chapter 4, "Invoicing and Collecting Income"— Learn how to record your company's revenue-producing activities and keep track of customers. Use invoices, track Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounts receivable, make deposits, give discounts, and communicate with your accounting software for small businesses. They are able to find answers to their questions customers. Tips for all these tasks are provided here. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Chapter 5, "Making Purchases and Recording Payments"— QuickBooks provides a tasks quick and simple. place to record names and information about all your vendors and suppliers. Learn how to record purchase orders, enter bills, record receipts of items you've ordered, write checks, and use the check register. Chapter 6, "Collecting and Paying Sales Tax"— If your company sells items that are subject to sales tax, you need to keep track of the tax you collect and the taxable sales you make, and you need to pay that tax to the government. In addition, you need to know how to account for sales to tax exempt entities. Learn how to find the information you need to prepare your sales tax returns and pick up tips on recording sales tax discounts. Chapter 7, "Using Timesaving Features"— QuickBooks has some great timesaving tools, such as reminders, memorized transactions, and scheduled transactions. Learn how to use these features and you'll be ready to leave work early. Chapter 8, "Estimating and Tracking Job Costs"— This chapter is for users of QuickBooks Pro, Premier, or Enterprise Solutions. These versions of QuickBooks provide you with the ability to create estimates, track jobs, and invoice based on the portion of the job that is completed. Chapter 9, "Tracking Time"— Here's another chapter for users of QuickBooks Pro, Premier, and Enterprise Solutions. These versions of the program are packed with a separate timer program that enables you to turn your computer into a time clock and then export the time to QuickBooks where it flows right into the payroll component of the program and also can be billed directly to customers. Chapter 10, "Using Miscellaneous QuickBooks Features"— Here's a catch-all chapter that contains a little bit of everything. Look here for information on spellchecking, creating and using budgets, working with classes, setting payment terms, customizing forms, making journal entries, and using QuickBooks to produce information that will make an auditor happy. Chapter 11, "Using QuickBooks Online"— Take advantage of the online features in QuickBooks, including online banking, saving your company information online, and using QuickBooks from remote locations.

Chapter 12, "Preparing Income Tax Returns"— You might not enjoy the drudgery of preparing income tax returns for your company, but QuickBooks makes the process a whole lot easier by providing reports that detail all the information you need for your quarterly and annual tax forms. Whether your company is a corporation, partnership, not-for-profit, or proprietorship, you'll find the tax information you can produce will save you a lot of time when it comes to preparing information for the IRS. Table of"Taking Contents Advantage of Security Features"— Let's face it; everyone Chapter 13, needs to Index be careful in this era of hacking, identity theft, and vengeful employees. Take Show Me advantage QuickBooks® of the 2004 high level of security offered by QuickBooks to protect your precious financial information. ByGail company Perry • •

Chapter 14, "Using Inventory Features"— QuickBooks offers many features to help you track your inventory and produce inventory reports. Learn how the inventory Pub Date: February features work19, in 2004 QuickBooks and what features are going to help you keep track of ISBN: 0-7897-3078-2 inventory as it moves in and out of your company.

Publisher: Que

Pages: 320

Chapter 15, "Recording Your Assets"— Every company has assets. From bank accounts, inventory, and receivables, to buildings, computers, and furniture, there's plenty to keep track of. QuickBooks provides a complete asset record-keeping system that enables you to keep track of all the assets owned by your company. ShowChapter Me QuickBooks helps readers learn visually how to how perform tasks using the leading 16, "Recording Owners' Equity"— Just much is your company worth? accounting software for small businesses. They are able to find answers to their questions Learn how QuickBooks tracks the value of your company and figure out what you need quickly visually this user-friendly method of training. includesinsists a screento and know about with that pesky Opening Balance Equity accountEach that task QuickBooks on by-screen visual accompanied by a concise text description that makes performing everyday using. tasks quick and simple. Chapter 17, "Recording Liabilities"— Keep track of what you owe and to whom. Manage your payables, and learn how QuickBooks records loans and tracks the portion of your loan payments that represents interest. Chapter 18, "Preparing the Top Ten QuickBooks Reports"— Everyone uses reports in QuickBooks. The reports summarize all the transactions you've entered in your QuickBooks company file and provide the information you need to judge your performance, attract investors, prepare for the future, pay your taxes, collect revenue, and pay your bills. Learn which reports are used frequently and how you can customize the QuickBooks reports so they provide you with just the information you want.

Chapter 1. Setting Up Your Company with the EasyStep Interview • What You'llTable Do of Contents •

Index

Enter Company2004 Data Show Me QuickBooks® ByGail Perry

Stop and Restart the Interview

Publisher: Set UpQue Income

Accounts

Pub Date: February 19, 2004

Set Up0-7897-3078-2 Expense Accounts ISBN: Pages: 320

Set Up Items Set Up Vendors Set Up Customers Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction For many, the bane of owning a small business is the necessity of dealing with accounting issues. When your skill is in providing services or producing inventory, finding the time or inclination to set up and maintain a bookkeeping system is difficult. And yet, it is only with a • Table of Contents quality bookkeeping system that you will know how much money your company is making • Index and thus how successful you are. Many years ago, Intuit came to the rescue of many small Show Me QuickBooks® 2004 business owners with its QuickBooks software, a bookkeeping program that is so sophisticated it provides all the record keeping and reporting opportunities you need to keep By Gail Perry abreast of your company's progress while simultaneously being so easy to use that someone withPublisher: little orQue no accounting background can start using the program right out of the box. Date: February 19, 2004 For Pub many, the biggest hurdle of using QuickBooks is the initial setup process. The reward is ISBN: 0-7897-3078-2 that after the setup has been completed, you never have to do it again. Although it's not a Pages: 320 difficult process, the setup can be tedious and—depending on factors such as the number of accounts your company uses, the quantity of customers and vendors with whom you do business, and the number of people you employ—the process can be very time-consuming. Don't feel you have to complete the setup all at once. Assign yourself tasks and check off each item as it is accomplished. When the setup process is finished, you'll have a program in place will stay with youreaders for the foreseeable future, and your company's keeping Show that Me QuickBooks helps learn visually how to perform tasks usingrecord the leading needs will be greatly simplified. accounting software for small businesses. They are able to find answers to their questions

quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Entering Company Data Step one of being able to use QuickBooks to track your company's financial transactions and produce reports about those transactions is to enter information about your company into your QuickBooks program. This process of entering company data has the effect of • of Contents customizing Table QuickBooks so the program becomes a unique financial information resource for • Index your company. Use the checklist that follows this section to help gather the information you Show 2004 process smooth and efficient. When you open QuickBooks the first need Me to QuickBooks® make the setup time, you are given a choice of creating a new company file, opening an exiting company file, By Gail Perry restoring an existing company file from backup, and opening a sample company file. Select the Publisher: option to create a new company and you'll be ready to begin entering your company Que data. Pub Date: February 19, 2004

ISBN: 0-7897-3078-2 Thecompany file is the term QuickBooks gives to the place on your computer where your Pages: financial 320 company's information is stored. When you select to open a new company file, the EasyStep Interview begins. Follow along, answering each question as well as you can. You can always make corrections later.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenDid You Know? by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. You can change the company data you entered during the interview. After you are running your QuickBooks program, select Company, Company Information from the QuickBooks menu and make any necessary changes.

Open a New Company File and Follow the Interview Questions Select the Create A New Company option. Selecting this option opens the EasyStep Interview. Click the Next button, or press Alt+N, to advance through the interview. Proceed through the introductory screens, acquainting yourself with the various features of QuickBooks. Enter the name under which your company does business and the legal name of your company. Continue clicking the Next button as you enter the rest of the required information about your company. You will be asked to give your company a filename. All your company data will be stored in this file. From this point forward, you can exit the interview at any time (see "Stopping and Restarting the Interview," later in this chapter) and your data will be saved.

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Table of Contents

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

The Getting Started Checklist You can save yourself a lot of time and frustration when setting up your company in QuickBooks by using this checklist to organize your data before you begin the setup process. Gather all this information in advance. When all the documents have been assembled, you're • Table Contents ready to start theofQuickBooks EasyStep Interview. •

Index

Show Me QuickBooks® Note: Some of these2004 items might not apply to your company: ByGail Perry

Complete company name— Including d/b/a name, address, and type of business. the type of tax return your company files (partnership, C corporation, S Pub Date: Februaryproprietorship, 19, 2004 corporation, and so on).

Publisher: Que Note also

ISBN: 0-7897-3078-2

Federal Pages: 320Identification Number. Start date— Determine the date on which you want your first company information to be tracked in QuickBooks. Complete company information, including all balance sheet amounts, should be entered as of the start date. ShowBank Me QuickBooks helps learnchecks visuallyfrom how the to perform taskstousing the leading statements andreaders cancelled start date the present. accounting software for small businesses. They are able to find answers to their questions quickly Chart and of visually accounts— with this If user-friendly it's available;method otherwise, of training. use a listing Eachof task theincludes categories a screeninto by-screen whichvisual you group accompanied your company's by a concise income textand description expense that transactions. makes performing everyday tasks quick and simple. Customer list— This includes all the people and companies with whom you regularly do business and whom you want to track in QuickBooks. Include as much of the following information as possible: name, address, telephone number, fax number, personal contact, ship-to address, sales tax status, payment terms you typically apply to each customer, and current jobs on which you are working for each customer. Inventory list— This includes all the items you sell, including a description of each inventory item, your cost of each item, the standard sales price of each item, the preferred supplier for each item, the quantity of each item currently on hand, and the number of each item at which a reorder request needs to be issued. Details of all amounts you owe as of the start date— This includes the person or company to whom the money is owed and the amount owed. Details of all amounts owed to you as of the start date— This includes the person or company who owes you money and the amount owed. Sales tax information— Include the rate at which you charge sales tax, the name and address of the taxing agency, and the amount of sales tax owed as of the start date. Vendor list— This includes all your regular suppliers and creditors, including the name, the address, the telephone and fax numbers, the personal contact, your account number with each vendor, and whether the vendors require a 1099 form. Any existing budget information for your company. Employees list— Use this if you plan to use QuickBooks for your payroll. Include names and addresses, Social Security numbers, rates of pay, withholding allowances and other deductions, and year-to-date information if your start date is later than January 1 or the first day on which your company does business. Payroll tax information— This includes the state unemployment compensation rate, local tax rates, and amounts of payroll taxes due as of the start date. Information about all assets owned by the company— This includes the original

cost and date purchased. If you have access to this information, you should also note the methods used for calculating depreciation on your assets and the accumulated depreciation to date. Credit card statements you have received since the start date.

•

Details of all financial transactions since the start date— This includes checks written, amounts deposited, credit card transactions, and so on. Table of Contents

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Stopping and Restarting the Interview Fortunately, you don't have to complete the EasyStep Interview in one session. If you need to take a break or gather additional information, you can exit from the EasyStep Interview without losing your place. When you're ready to return to the interview, you'll start right • Table of Contents where you left off. •

Index

Show Me QuickBooks® 2004

Stop the EasyStep Interview ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Click the Leave button in the EasyStep Interview window.

Pages: 320

Pressing Alt+L accomplishes the same thing. The Interview window closes, but the place where you left off is remembered.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Restart the EasyStep Interview

Select File, EasyStep Interview from the menu. The interview window displays the screen on which you left off. Even if you've been gone for days or weeks, the EasyStep Interview always returns to the last screen you viewed.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can start a new company in QuickBooks without using the EasyStep Interview. Early in the EasyStep Interview, you are given an option to skip the interview. If you choose to skip the interview, you can go right to the QuickBooks Company menu, select Company Information, and fill in the blanks to enter the information about your company. Note that skipping the EasyStep Interview is not recommended. You run the risk of omitting necessary data entry if you do.

Setting Up Income Accounts When you use the EasyStep Interview, QuickBooks starts with a list of accounts common to your type of business. Unless all these accounts are inappropriate for you, you'll probably save time by accepting this list of accounts and adding more account names after the • Table of Contents interview if necessary. After asking several questions about your company, the EasyStep • Indexyou to a screen where you can set up income accounts. You have the option Interview takes Show Me QuickBooks® of setting up income2004 accounts now or adding more accounts after completing the interview. ByGail Perry Que SetPublisher: Up Income Accounts Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Click Yes when you are asked whether you want add an income account; then click Next to proceed.

Pages: 320

Enter a name for your account. You are limited to 31 characters for your account name. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingSelect software forline small a tax for businesses. this account.They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Tax lines are optional. Tax lines are necessary if you plan to use QuickBooks in conjunction with a tax software program to prepare company tax returns you plan to take advantage of the tax reporting features • Table ofor Contents available in QuickBooks. If you don't intend to use these features, you can • Index leave this field blank. Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 0-7897-3078-2 See ISBN: Also Pages: 320

SeeChapter 12, "Preparing Income Tax Returns," on page 201, for information about using QuickBooks for preparing your company's income tax returns.

Continue answering Yes when whether want to addusing another Show Me QuickBooks helps readers learnasked visually how toyou perform tasks the income leading account until all income accounts have accounting software foryour small businesses. They arebeen able entered. to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Expense Accounts Expense accounts are used to categorize your company's cash outlays. In addition to the expense accounts that QuickBooks provides with its standard chart of accounts, you will no doubt need to add accounts that are unique to your business. You can wait until the EasyStep • of Contents Interview is Table completed and add your own expense accounts later, or you can enter additional • Index while you are still in the interview. expense accounts Show Me QuickBooks® 2004 ByGail Perry

Set Up Expense Accounts Publisher: Que Pub Date: February 19, 2004

Scroll through the list of expense accounts provided by QuickBooks, comparing the ISBN: 0-7897-3078-2 accounts on that list to those you need for your business. Make a note of any expense Pages: 320 accounts you need to add.

Click Yes when you are asked whether you want add an expense account; then click Next to proceed. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software for small They able to to 31 findcharacters, answers toincluding their questions a name for thebusinesses. account. You areare limited spaces, quickly and visually with this user-friendly method of training. Each task includes a screenfor your account name. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Indicate whether this account is to be a subaccount of another account. If this is a subaccount, enter the name of the parent account. If you plan to use QuickBooks for organizing your tax information, assign a tax line to this account. Click Next to add the new account to your Chart of Accounts. Continue answering Yes when asked whether you want to add another expense account until all your expense accounts have been entered.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Adding Accounts" on page 52 for information on changing account information after you have completed the EasyStep Interview.

Setting Up Items Items are the things your company sells. They include services you provide, products you manufacture or purchase for resale, and other charges such as shipping and sales tax. Anything you list on an invoice is considered an item. Just as with the income and expense • Table Contentsto enter your items during the EasyStep Interview process or enter accounts, you canofchoose • Index items after the interview is completed. Any items entered in the interview can be edited later Show QuickBooks® if youMe need to make2004 changes. The types of items you are asked to enter during the interview include service items, noninventory part items, other charge items, and inventory part items. By Gail Perry The steps here show how to enter inventory part items, which are the items your company keeps on hand in inventory. The setup process is similar for the other types of items. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Set Up Inventory Part Items Pages: 320 Enter a name for the inventory part item you want to set up. This is the name you use when describing this item in your inventory. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading a sales for thisThey inventory item. This answers is the name thatquestions appears on accountingEnter software for description small businesses. are able to find to their an invoice when someone purchases this item. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and a simple. Enter sales price for this item. This is the price at which the item is normally sold to a customer. Indicate whether this item is subject to sales tax.

Did You Know?

•

Entering a sales price is optional. If this price varies from one customer to the next, you might want to leave the sales price field blank and enter the correct price on the customer invoice each time you sell this item. Table of Contents

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que See Also Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 SeeChapter 6, "Collecting and Paying Sales Tax," on page 117, for information on Pages: 320 is applied to inventory items and which customers are affected by how sales tax this charge.

Indicate the income account your company uses to reflect the revenue from the of this inventory Show sale Me QuickBooks helps item. readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Eachfrom taskaincludes a screenEnter the description you use when purchasing this item supplier. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the cost you pay when you purchase this item from a supplier. If the cost varies each time you purchase the item, you can leave the cost area blank. If you want QuickBooks to remind you when to reorder this inventory item, enter the number at which you want to receive a reminder. Enter the number of pieces of this item you have on hand as of the start date for your company. The value of this starting inventory is calculated automatically.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Understanding the Opening Balance Equity Account " on page 258 for information on how your QuickBooks program calculates this account and how you can control the amounts in this account.

Setting Up Customers Your company's customers are the people and companies who pay you for your goods and services. If you keep track of who your customers are and what they purchase from you, you should enter your customer information in your QuickBooks file. If customers are anonymous • Table or of Contents in your business you have no reason to keep track of individual customers, you can enter a • Index name, such as "Cash Customer" or "Mail Order Customer," and credit all generic customer Show sales Me to QuickBooks® this type of 2004 customer. If you sell items on credit and keep track of accounts receivable By Gail Perry in your business, you must enter the balances owed to you by your customers on your start date. Publisher: Que Pub Date: February 19, 2004

Set Up a0-7897-3078-2 Customer ISBN: Pages: 320

Enter the name of a customer. Customer lists in QuickBooks are sorted alphabetically by the first letter of the name you enter. Enter the amount, if any, learn that this customer owed to your company as of the start Show Me QuickBooks helps readers visually how to perform tasks using the leading date. software for small businesses. They are able to find answers to their questions accounting quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can track individual jobs for each customer with QuickBooks Pro. The Pro version of this program has many features for tracking jobs, preparing estimates, and partial invoicing before a job is complete.

Setting Up Vendors Vendors are people and companies from whom you make purchases. Your company's vendors include your sources for supplies, professional services, and inventory items, as well as your landlord and the companies that provide your utilities. Each vendor should be entered • of Contents individually. Table During the EasyStep Interview you should enter each vendor to whom you owe • money as of Index your company's start date. You can enter other vendors as well, or you can wait Show Me QuickBooks® to enter them in the2004 future when you do business with them. ByGail Perry

SetPublisher: Up aQue Vendor Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Enter the name of the vendor. Vendor lists in QuickBooks are sorted alphabetically by the first letter of the name you enter.

Pages: 320

Enter the amount, if any, that you owe this vendor as of your company's start date. This amount is added to your company's Accounts Payable account. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Adding Vendors" on page 57 for information on how to add or edit vendor information after you've finished the EasyStep Interview. QuickBooks enables you to keep track of much more than just a vendor name and amount owed. You can record address and phone information, an email address, a credit limit, and much more.

Chapter 2. Setting Up and Using Payroll Features • What You'llTable Do of Contents •

Index

SetQuickBooks® Payroll and2004 Employee Show Me

Preferences

ByGail Perry

Set Up Employees

Publisher: Set UpQue Employee

Payroll Information

Pub Date: February 19, 2004

Set Up0-7897-3078-2 Employee Payroll Taxes ISBN: Pages: 320

Set Up Sick and Vacation Benefits Set Up Payroll Deductions Enter Year-to-Date Payroll Amounts Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Prepare Paychecks accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenCreate Employer Payroll Reports by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Pay Payroll Taxes with Form 941 Pay Federal Unemployment Taxes with Form 940 Issue W-2 Forms Issue W-3 Forms Distinguish Between Employees and Independent Contractors Set Tax 1099 Preferences Issue 1099 Forms Outsource Payroll

Introduction As an employer, it is your job to keep track of and pay salaries and wages to your employees and subcontractors. Although paying payroll and contractor fees can be time-consuming and tedious when done on paper and with a calculator, you'll find that with QuickBooks the • Tableand of Contents process is quick the record keeping is excellent. •

Index

Show 2004 all the federal payroll tax forms you need, right in QuickBooks, You'llMe beQuickBooks® able to produce including By Gail Perry

Publisher: Form Que 941—

Employer's Quarterly Federal Tax Return

Pub Date: February 19, 2004

Form 940— Employer's Annual Federal Unemployment (FUTA) Tax Return ISBN: 0-7897-3078-2 Pages: 320

Form W-2— Wage and Tax Statement Form W-3— Transmittal of Wage and Tax Statements Form 1099— Information Returns Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Form software 1096— Annual Summary and They Transmittal of to U.S. Information accounting for small businesses. are able find answers toReturns their questions quickly and visually with this user-friendly method of training. Each task includes a screenIn addition, QuickBooks provides abilitytext to set up payrollthat deductions for 401(k) everyday plans, by-screen visual accompanied by the a concise description makes performing health insurance, employee reimbursements, flexible spending plans, and dozens of other tasks quick and simple. deductions. Finally, you can produce payroll reports that summarize all your employee payroll activity and company payroll expenses and liabilities.

Setting Payroll and Employee Preferences If you use QuickBooks to produce your payroll, you can make several settings before using the payroll features, the most obvious of which is turning on your access to the payroll features. On this preferences screen you can also indicate printing options and reporting • Contents options, andTable you of can create some default settings for your employees. •

Index

Show Me QuickBooks® 2004

Set Up Payroll Preferences ByGail Perry

Publisher: Que

Select Preferences Pub Date: February 19, 2004

from the Edit menu.

ISBN: 0-7897-3078-2 Pages:Click 320

the Payroll & Employees icon.

Click the Company Preferences tab. Show Me QuickBooks Click the Full helps Payroll readers option learn if you visually will use how QuickBooks to performtotasks issueusing your the paychecks. leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenYou can select to sort your employee list (available from the Lists menu) by first by-screen visual accompanied by a concise text description that makes performing everyday name or last name. tasks quick and simple. You can select to hide the pay rate for your employees in the Select Employees To Pay window. Depending on who will see your QuickBooks file, this option might have appeal. Check here if you want to have QuickBooks carry forward information from prior paychecks relating to amounts based on quantities. Check this box if you want to have the option of printing separate pages for each employee when you choose to display your employee list. Check this box if you want employee Social Security numbers to appear in report headers. If you need to keep this information confidential, leave the box unchecked. Check this box if you need to report payroll taxes by customer job or type of service.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can carry forward employee quantity information. The quantity carry forward feature is useful for situations in which an employee's pay is based on the number of hours worked in each pay period and an employee typically works the same number of hours in each pay period.

Set Up Employee Preferences Set up employee preferences if you use QuickBooks to calculate your payroll. With the Payroll & Employees preferences window still open, click the Employee Defaults button to set up employee preferences. Enter the name of the earnings item (such as Salary or Regular Pay) that normally should appear on each paycheck. If every employee earns the same amount, enter an amount here. Otherwise, leave this field blank because you will fill in the amount on each individual paycheck. Check this box if you use information from the QuickBooks Timer or time sheets to calculate paychecks. Enter items that appear on all or most paychecks, such as deductions for health insurance. Enter amounts here only if the deduction amounts are the same for each employee or most employees. Otherwise, leave the amount field blank and enter amounts on

individual paychecks. Click OK. Click OK on the main preferences window. •

Table of Contents

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Employees For each employee in your organization, certain pieces of information must be entered. To process paychecks and prepare tax documents for your employees, you need to record the correct name, address, and Social Security number of each employee. In addition, • Table of Contents QuickBooks gives you an opportunity to keep track of personal employee information such as • Index telephone and fax numbers, an email address, and the date of hire. Show Me QuickBooks® 2004 ByGail Perry

Enter Employee Personal Information Publisher: Que Pub Date: February 19, 2004

Select Employee List from the Lists menu.

ISBN: 0-7897-3078-2 Pages: 320

Press Ctrl+N to open the New Employee window. Make sure the Personal tab is selected. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software the employee's for small businesses. title. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter the employee's first name. tasks quick and simple. Enter the employee's middle initial. Enter the employee's last name. Enter the way in which the employee's name should appear on paychecks. Enter the employee's Social Security number. Enter the employee's gender. Enter the employee's date of birth.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter Employee Address Information Click the Address And Contact tab in the New Employee window. Enter the employee's street address. Enter the employee's city. Enter the employee's state. Enter the employee's ZIP Code. Enter the employee's telephone number. Enter any other contact information you have for this employee. Click the Additional Info tab. Enter an employee number, if applicable. Enter other information for this employee.

Click OK. Click Leave As Is if you are not yet ready to set up payroll information. Otherwise, click Set Up Now and continue to the next task.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Employee Payroll Information After you've entered the specific personal information about an employee, it's time to enter the payroll information for the employee. Here you'll enter the amount of salary or hourly wage the employee earns as well as any deductions, other than taxes, that you will withhold • Table of Contents from the employee's paycheck. •

Index

Show Me QuickBooks® 2004

Set Up Employee Payroll Information ByGail Perry

Publisher: Que

IfFebruary you clicked Set Pub Date: 19, 2004

Up Now in the previous task, you can skip to step 6. If you closed the New Employee window after the previous task, select Employee List from the Lists ISBN: 0-7897-3078-2 menu.

Pages: 320

Click the name of the employee for whom you want to set up payroll information. Press Ctrl+E to edit the employee information. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually the drop-down with this user-friendly arrow to display method the of Tabs training. list. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Select Payroll And Compensation Info. Enter the annual salary or hourly rate this employee receives. Indicate the pay period used by your company. Enter any deductions that are regularly taken from this employee's pay. Continue to the next task to enter payroll tax information for this employee.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Employee Payroll Taxes After you've set up the basic personal and payroll information for an employee, you need to enter information about payroll taxes. Your employees will each fill out a W-4 form (Employee's Withholding Allowance Certificate) providing information about marital status, • Contents dependents,Table and of more. •

Index

Show Me QuickBooks® 2004

Set Up Federal Payroll Tax Information ByGail Perry

Publisher: Que

IfFebruary the Edit Pub Date: 19,Employee 2004

or New Employee window is still open on your screen, you can skip to step 7. Otherwise, select Employee List from the Lists menu. ISBN: 0-7897-3078-2

Pages: 320

Click the name of the employee for whom you want to set up payroll tax information. Press Ctrl+E to edit the employee information. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually the drop-down with this user-friendly arrow to display method the of Tabs training. list. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Select Payroll And Compensation Info. Click the Taxes button. Make sure the Federal tab is selected. Enter the Filing Status for this employee, based on W-4 information. Enter the number of allowances the employee is claiming, based on W-4 information. Indicate any extra withholding the employee has requested on the W-4 form. Check all federal withholding options that apply to this employee.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can get a copy of the W-4 form on the Internet. The Internal Revenue Service makes the W-4 form available for printing. Go to http://www.irs.gov/pub/irs-pdf/fw4.pdf for a copy of the current year Form W-4, Employee's Withholding Allowance Certificate. Keep in mind that the IRS doesn't make forms for the next year available online until the forms are actually available for distribution.

Set Up State and Local Payroll Tax Information Click the State tab. Enter the state in which the employee works. Enter the state for which you will withhold taxes. Typically, the employee fills out a form similar to the federal W-4 form for the state in which he works. Enter the number of allowances the employee is claiming, based on information supplied by the employee. Enter any additional required state information for this employee. If the employee is subject to local taxes, click the Other tab and fill out any required information. Click OK.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Other tax information might be required. If QuickBooks is aware of any state or local tax issues pertaining to the state in which this employee works, you might see a reminder window that tells you how to enter other required information.

Setting Up Sick and Vacation Benefits QuickBooks enables you to track allowable sick time and vacation time for your employees. You can keep track of the amount of time to which each employee is entitled, the amount of time each employee actually uses, and the expiration or carryover of that time. •

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Show Me QuickBooks® 2004

Set Up Sick and Vacation Benefits ByGail Perry

Follow Publisher: Que

steps 1–5 of the previous task.

Pub Date: February 19, 2004 ISBN:Click 0-7897-3078-2 the Sick/Vacation

button.

Pages: 320

Enter the number of hours of sick time available to this employee as of the beginning of the current year. Show Me QuickBooks Enter the number helps readers of hourslearn of sick visually time the howemployee to perform hastasks usedusing so farthe this leading year. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenEnter the method your company uses for accruing sick time—is it an annual by-screen visual accompanied by a concise text description that makes performing everyday accrual, a per paycheck accrual, or a per pay hour accrual? tasks quick and simple. Based on your choice in the previous step, enter the amount of sick time accrued for each accrual period. Enter the maximum number of hours of sick time that can be made available to this employee. Check this box if the sick time accrual is to be reset to zero at the beginning of each year.

Enter the number of vacation hours available to this employee at the beginning of the current year. Enter the number of vacation hours this employee has used so far this year.

• •

Enter the method your company uses for accruing vacation time. Table of Contents Index

Show Me QuickBooks® Based on your 2004

accrued ByGail Perry

choice in the previous step, enter the amount of vacation time for each accrual period.

Publisher: Enter Que

the maximum number of vacation hours your company allows an employee to

Pubaccrue. Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320 Check

this box if the vacation time accrual is to be reset to zero at the beginning of

each year. Click OK. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Entering Year-to-Date Payroll Amounts Because government agencies expect you to prepare annual tax reports that include data for the entire year, you might need to enter year-to-date amounts for your payroll records. This applies to you only if you started using QuickBooks at some time after the start of the • Table Contents your year-to-date amounts, you ensure that your year-end tax calendar year. Byofentering • Indexyour employees' W-2 Wage & Tax Reports, will be accurate. forms, including Show Me QuickBooks® 2004 ByGail Perry

Enter Employee Year-to-Date Payroll Amounts Publisher: Que Pub Date: February 19, 2004

Select Payroll Services from the Employees menu; then select Set Up Payroll.

ISBN: 0-7897-3078-2 Pages: 320

Click Set Up Year-To-Date Amounts. If that option is not available, you might have to perform other payroll steps. Depending on type of service you select, these steps differ. Return to this task when you have entered all the payroll information necessary to make the Set Up Year-To-Date Amounts option available. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software forUp small They are able to find answers to their questions the Set YTDbusinesses. Amounts button. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Read and the simple. information presented and then click the Next button when you are ready to proceed.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter the date on which your year-to-date amounts should affect your liability and expense accounts. If you have updated your accounts for payroll expenses with journal entries or have entered up-to-date opening balances for these accounts, enter the current date. If you plan to go back and enter paychecks that have already been issued, enter the date for which you will start entering paychecks. Enter the date on which the amounts you enter should affect your bank account. See the description in the previous step. Click Next. Enter the date on which you plan to start using QuickBooks to regularly issue paychecks. Click Next.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Click the name of an employee for whom you will enter year-to-date information. Click the Enter Summary button. Enter the dates that encompass the year-to-date payroll information you will enter for this employee. Enter the total salary or wages you have paid this employee for the dates specified. Enter all taxes and withholdings that apply to this employee for the dates specified. Click OK. Repeat steps 10–14 for each employee. When all the year-to-date employee information has been entered, click the Next button.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter Payroll Tax Payments Made This Year Click Create Payment. Enter the date on which you made a tax payment. You will enter each tax payment individually. Enter the ending date for the pay period for which you are making entries. Enter the amounts of taxes you paid with this payment. Click Next Payment to enter another tax payment. Click Done when all the payments to date have been entered. Select how you want QuickBooks to affect your company accounts with this entry. If your cash balance is already correctly entered in QuickBooks, you need to affect only your liability accounts with this information.

Click OK. Click Finish to close the Set Up YTD Amounts window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Payroll Deductions Employers deduct a variety of amounts from employee pay. In addition to payroll taxes, there can be deductions for contributions to a disability plan, health insurance plan, 401(k) plan, fundraising organization such as United Way, cafeteria benefit plan, and more. The • Table of up Contents process for setting each of these items is similar. For this example, we'll look at the • Index procedure for setting up a payroll deduction for contributions to a 401(k) plan. Show Me QuickBooks® 2004 ByGail Perry

Set Up Payroll Deductions Publisher: Que Pub Date: February 19, 2004

Select Payroll Item List from the Lists menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the Payroll Item button and select New, or press Ctrl+N. Select Easy Setup. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software Next.for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Click the Continue button at the bottom of the window until the list containing

401(k) appears. Check the box next to 401(k). Note: You can check other payroll deduction items at this time as well. Click Create. •

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Index Click Continue.

Show Me QuickBooks® 2004 ByGail Perry

Click Finish.

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing Paychecks You entered employee information, salary and wage information, tax information, sick and vacation pay rules, and special deductions. You've set up all the information necessary for producing paychecks. Now you're ready to produce some actual paychecks! •

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Show Me QuickBooks® 2004

Prepare Paychecks ByGail Perry

Select Publisher: Que

Pay Employees from the Employees menu.

Pub Date: February 19, 2004 ISBN:Enter 0-7897-3078-2 the cash

account on which the paychecks are to be drawn.

Pages: 320

Indicate whether checks are to be either printed, or handwritten or direct deposited. Show Me QuickBooks Enter the date helps on readers which the learn checks visually will be how issued. to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenEnter the ending date for this pay period. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click to check each employee who will be paid. Select this option if you need to preview checks and possibly enter additional information such as number of hours worked or amount of deductions. Select this option if you're certain the information for each check is correct. Click the Create button. If you chose to preview the checks, each check appears for your approval. On the individual check summaries, make any necessary changes. You can make entries or changes only in white areas. Click Create when you've finished entering changes.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Check off each employee who is to receive a paycheck. You can use the Mark All button to save time. If you're ready to print paychecks now, click the Print Paychecks button. If you plan to print checks later, click the To Be Printed option; then click the Leave button. Later, when you're ready to print checks, select Print Forms from the File menu and select Paychecks. In the window that appears, click Select All or check off each paycheck you want to print. Click the OK button.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating Employer Payroll Reports Payroll reports are available in QuickBooks to meet a variety of needs. You can generate a payroll report on each employee, create a summary of your payroll deductions, summarize your entire payroll, show year-to-date tax liabilities, and more. Here we'll create a payroll • Table and of Contents summary report a year-to-date payroll tax report. •

Index

Show Me QuickBooks® 2004

View a Payroll Summary Report ByGail Perry

Publisher: Que

Select Employee Pub Date: February 19, 2004

List from the Employees menu.

ISBN: 0-7897-3078-2 Pages:Click 320

the Reports button; then select Reports On All Employees, Payroll, Payroll Summary. Select the range of dates you want to cover in your report.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingIfsoftware necessary, for click smallthe businesses. Refresh button They are to update able tothe find report. answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday If necessary, use the bottom scrollbar to view payroll information for all your tasks quick and simple. employees.

View Year-to-Date Payroll Liabilities Select Payroll Item List from the Lists menu. • •

Tablethe of Contents Click Reports button; then select Reports On All Payroll Items, Payroll Liability Balances. Index

Show Me QuickBooks® 2004 ByGail Perry Verify

the dates you want the report to cover.

Publisher: Que

Double-click any amount for another report showing the detail that makes up that amount.

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Paying Payroll Taxes with Form 941 Form 941 is a quarterly payroll tax form on which you report federal income tax withheld, as well as Social Security and Medicare tax. Because these taxes are based on the total wages you paid your employees, and because all this information is already available if you use • Table of Contents your payroll, the creation of this form is easy. QuickBooks for processing •

Index

Show Me QuickBooks® 2004

Pay Payroll Taxes with Form 941 ByGail Perry

Publisher: Que

Select Process Pub Date: February 19, 2004Payroll

Forms from the Employees menu.

ISBN: 0-7897-3078-2 Pages:Select 320

Form 941 and Schedule B.

Click OK. Show Me QuickBooks Verify that the helps state readers in which learn you visually make how your to tax perform deposits tasks is correct. using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenVerify that the date of the payroll quarter is correct. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click Next. Chances are good that these options won't apply to you, but check the box and enter the date of your last tax return if you no longer plan to pay payroll taxes. Check the box if you are a seasonal employer. Click Next.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter the number of employees on your payroll on March 12 of the current year. It doesn't matter in which quarter you're filing this tax return; the March 12 date is the same on every Form 941. Click Next. On the next screens, verify that the numbers calculated by QuickBooks are correct. Click the Yes button on any screen to make adjustments to the calculated amounts. Click Next to proceed to each screen. On the screen for lines 15 and 16, check the appropriate box to indicate how you want an overpayment treated. Check the appropriate box to show how frequently your company makes payroll tax deposits. Click Next. Click the option to preview Form 941 before printing.

When satisfied, click the Print button to print the form.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Paying Federal Unemployment Compensation Taxes with Form 940 Throughout the year, you might be required to make deposits of federal unemployment • Table of Once Contents compensation tax. a year you are required to file a federal Form 940 reporting your • Index annual unemployment compensation tax liability. QuickBooks can prepare this form for you. Show Me QuickBooks® 2004 Prepare the Form 940 in QuickBooks and then print a copy, ready to be signed and mailed. ByGail Perry

Pay Federal Unemployment Compensation Taxes with Form 940 Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Process Payroll Forms from the Employees menu.

Pages: 320

Click the Form 940 option. Click OK. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Enter the year you are method preparing 940.Each task includes a screenquickly and visually with for thiswhich user-friendly of Form training. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click Next. On the next screen, check boxes to answer questions that apply to your company; then click Next. Verify that the calculations are correct on the next screens. Click Yes if you need to adjust any calculations. Click Next (you don't need to click No) to continue. If there is an overpayment, indicate how you want the overpaid amount treated. Click Next. Click the option to preview the Form 940 before printing. When satisfied, click the Print button to print the form.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing W-2 Forms All employers are required to provide employees with a Form W-2, Wage & Tax Report, each January summarizing the prior year's wages and withholding. You can prepare the W-2 Form in QuickBooks and print from QuickBooks directly onto government-supplied W-2 forms. •

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Show Me QuickBooks® 2004

Prepare W-2 Forms ByGail Perry

Select Publisher: Que

Process Payroll Forms on the Employees menu.

Pub Date: February 19, 2004 ISBN:Click 0-7897-3078-2 the Form

W-2 option.

Pages: 320

Click OK. Click a check mark to the left of each employee who is to receive a W-2 form, or Show click Me QuickBooks the Mark All helps button readers to check learn everyone's visually how name. to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenClick the Review W-2 button. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Review each W-2 form, clicking Next after each review is completed. Double-click any amount that needs to be adjusted, making the appropriate adjustment in the dialog box that appears. Click OK when all forms have been reviewed.

Click Print W-2s when all W-2 forms have been reviewed. Click OK to proceed with Printing; then click Print when the Print W-2s dialog box appears.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Issuing W-3 Forms The W-3 form is a summary page that shows the totals of salaries and withholdings from all your W-2 forms. You can produce this form in QuickBooks only after you've completed your company's W-2 forms. If you are submitting your W-2 forms to the federal government by • Table Contents mail, you need toofinclude a W-3 as a cover sheet. The W-3 and accompanying W-2 forms are • submitted toIndex the Social Security Administration, which then provides information to the Show Me QuickBooks® 2004 Internal Revenue Service. ByGail Perry Publisher: Que Form Issue a W-3 Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Process Payroll Forms on the Employees menu.

Pages: 320

Select Form W-2. Click OK. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Remember, visually with youthis need user-friendly to have already method prepared of training. your Each W-2 forms task includes to prepare a screenan by-screen accurate visual W-3 accompanied form. Clickby thea Print concise W-3 text option. description that makes performing everyday tasks quick and simple. Click OK. In the Print W-3s window that appears, click the Print button.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Employees vs. Independent Contractors Part of the process of setting up your company in QuickBooks is choosing how to pay the people who work for you. Not everyone who works for you is an employee. QuickBooks defines employees as people who you pay for services and from whom you deduct taxes, • of Contents sending thatTable money on behalf of the employee to state and federal tax agencies. Independent • contractors, Index on the other hand, are people you hire to do a particular job and are not your Show Me QuickBooks® 2004 employees. You don't withhold taxes from their paychecks. ByGail Perry

Sometimes determining whether someone who works for you is an employee or an independent contractor is difficult, so the IRS has attempted to simplify the process of Publisher: Que distinguishing one from the other. The IRS has published a list of 20 questions to help Pub Date: February 19, 2004 determine whether a worker is an employee or a contractor. There's no set number of right or 0-7897-3078-2 wrong ISBN: answers that determines how to classify the worker. Generally, the more positive Pages: answers you320 give to these questions, the more likely the person is an employee rather than an independent contactor:

1. Do you (as the person paying the worker) give the worker instructions that he is Showexpected Me QuickBooks helps readers learn visually how to perform tasks using the leading to obey? accounting software for small businesses. They are able to find answers to their questions quickly andyour visually with this user-friendly method of training. Each task includes a screen2. Does company provide the worker with training? by-screen visual accompanied by a concise text description that makes performing everyday tasks quick simple. 3. Are theand worker's services integrated into the regular business operation of your company? 4. Is it a requirement that the worker, personally, provide the services? 5. Is the worker prohibited from subcontracting the work? 6. Is the business relationship between your company and the worker an ongoing one? 7. Do you set the hours for the worker? 8. Is the worker expected to work full time for your organization? 9. Is the work performed on your company's premises? 10. Do you instruct the worker regarding the order in which to perform his tasks? 11. Is the worker expected to submit reports (oral or written) that summarize his work progress? 12. Does the worker receive payments at regular intervals, such as weekly or monthly? 13. Does the worker get reimbursed for business and travel expenses? 14. Does your company supply the tools and supplies for this worker? 15. Does the worker have little or no significant investment in the tools used to perform the job? 16. Is the company responsible for absorbing any loss resulting from the work performed? 17. Is the worker prohibited from working for more than one company or person at a time? 18. Is the worker prohibited from making his services available to the general public? 19. Is it the company's responsibility if the worker does not perform to the specifications of

20.

18. 19. the project? 20. Is the company responsible if the worker causes any damage?

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting 1099 Preferences You are required to issue 1099 forms to certain contractors and vendors. To track 1099 information for the contractors you pay, and to have QuickBooks determine who qualifies for a 1099 form, you must turn on the preferences for 1099s. •

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Show Me QuickBooks® 2004

Set 1099 Preferences ByGail Perry

Select Publisher: Que

Preferences from the Edit menu.

Pub Date: February 19, 2004 ISBN:Click 0-7897-3078-2 the Tax

1099 icon.

Pages: 320

Click the Company Preferences tab. Click Yes to turn on your access to the QuickBooks 1099 features. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions QuickBooks has listed 1099 payment thresholds based on federal regulations. If quickly and visually with this user-friendly method of training. Each task includes a screenyou want to change any of these amounts, do so in the white columns. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click OK.

Did You Know? You can give 1099s to contractors under the $600 threshold. Although the IRS requires that you provide contractors with 1099s if you pay them $600 or are allowed to give 1099s for less than $600. If you prefer to • more in a year, Table you of Contents issue 1099 forms for a lesser amount, change the threshold to the amount at • Index which you want to start issuing forms. Don't, however, make the threshold higher. Show Me QuickBooks® 2004 You can face penalties from the IRS if you fail to issue 1099 forms to contractors ByGail Perry who make at least $600. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Issuing 1099 Forms You are required to supply certain independent contractors and businesses with 1099 forms. When you set up your preferences for 1099 forms, you saw the thresholds for 1099 requirements for various types of contractors and others. If your company needs to issue • Contents 1099 forms,Table they of must be mailed to recipients by January 31 of the following year. • Index the 1099 information on your government-supplied 1099 forms. QuickBooks prints Show Me QuickBooks® 2004 ByGail Perry

Issue 1099 Forms Publisher: Que Pub Date: February 19, 2004

Select Print 1099s from the Vendors menu.

ISBN: 0-7897-3078-2 Pages: 320

Enter the dates that cover the period for which you want to issue 1099 forms. Click OK. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingVerify software which forvendors small businesses. should receive Theyforms. are able Uncheck to findany answers vendors to their that don't questions require quickly 1099 and forms. visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Preview 1099 forms before printing. Click Close in the Preview window when you're finished. Click here to print the selected 1099 forms. Click Print when the Print 1099s window appears. Click here to print the 1096 cover sheet that needs to accompany your 1099 forms when they are sent to the IRS.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Issue 1099s just once a year. Issue your company's 1099 forms in January after the year ends, not after every job is completed. The 1099 forms you send to your vendors must be postmarked by January 31.

Outsourcing Payroll If you use QuickBooks to process your payroll, all the payroll expenses and payroll tax liabilities are already entered in your company's financial records. If, instead, you hire an outside service to produce your payroll, the payroll expense and the liability amounts must • of QuickBooks Contents be entered inTable your file. •

Index

Show Me QuickBooks® 2004

Record Payroll Expense and Payroll Liabilities ByGail Perry

Publisher: Que

Select Make General Pub Date: February 19, 2004

Journal Entries from the Company menu.

ISBN: 0-7897-3078-2 Pages:Enter 320

the date of the payroll.

Enter the name of the payroll expense account. Show Me QuickBooks Enter as a debit helpsthe readers amount learn of the visually grosshow payroll to perform (total salaries tasks using and wages, the leading before accounting beingsoftware reduced for by tax small withholdings). businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter one of your payroll tax liability accounts—for example, enter Federal Taxes. tasks quick and simple. Enter as a credit the amount of tax withheld from the employee for this type of payroll tax. Repeat steps 5 and 6 for all your payroll tax liabilities affected by this payroll. Enter the cash account that will be affected by this payroll. Enter as a credit the net amount of the payroll. Click one of the save options.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 3. Adding or Changing Information After the Interview Is Completed •

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Show Me QuickBooks® 2004

What You'll Do ByGail Perry

Set General Preferences Publisher: Que

Set Desktop View Preferences

Pub Date: February 19, 2004 ISBN: Sort a 0-7897-3078-2 List Pages: 320

Add Accounts Use Account Numbers Add Customers Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Add Vendors quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual in accompanied by a concise text description that makes performing everyday Add Items the List Window tasks quick and simple. Add Information On-the-Fly Create Subitems Hide Entries on Lists Delete Entries on a List Merge Entries on a List Print Lists Set Accounting Preferences

Introduction In the first chapter, you learned how to set up your company using the EasyStep Interview. The interview covers the basic start-up mechanisms you need to complete before you can use your QuickBooks program. After you get over the hurdle of entering all the necessary • Table Contents you can use QuickBooks on a daily basis in a style that fits your information in theofinterview, • Indexwithout the controlling aspects of going one screen at a time through the business needs, Show Me QuickBooks® interview process. 2004 ByGail Perry

That said, you might still find you need to enter more start-up type information into your QuickBooks company file after the interview is completed. With the information presented in Publisher: Que this chapter, you'll learn to familiarize yourself with the QuickBooks program itself, learning Pub Date: February 19, 2004 all the ways you can use the various features of the program to customize your QuickBooks ISBN: so 0-7897-3078-2 experience that the program produces exactly the results your company requires. Pages: 320

You will learn that QuickBooks uses lists to keep track of everything, including your chart of accounts; your company's vendors and customers; employees; jobs on which you're working; different options for terms of payment; payroll items that are deducted from paychecks; and more. Anything that's entered on a form is stored in a list. In this chapter, you'll learn how to add lists, change information already lists, change the placement list entries, ShowtoMe QuickBooks helps readers learnexisting visuallyon how to perform tasks using theofleading sort lists, remove entries from lists, and combine list entries. When you change an item on a accounting software for small businesses. They are able to find answers to their questions list, those changes carry through to the forms you use in QuickBooks and the reports you quickly and visually with this user-friendly method of training. Each task includes a screencreate. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting General Preferences When you begin using QuickBooks, there are procedures and options already in place that control the way you enter information and the way QuickBooks performs. You can change many of these options so that the program operates in a way that is conducive to your • Tableand of Contents computing style your company's requirements. The general preferences affect the way • the programIndex works and provide you with an opportunity to set technical performance options, Show 2004 such Me as QuickBooks® what happens when you press the Enter key, how information appears on your screen, and how the editing features work. After you've used QuickBooks for a while, you By Gail Perry might want to revisit the general preferences to make your time spent in QuickBooks easier or more efficient. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Set Personal General Preferences Pages: 320 Open the Preferences dialog box by choosing Preferences from the Edit menu. Click the General option on the visually left sidehow of the dialog box. Show Me QuickBooks helps readers learn to Preferences perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually thisPreferences user-friendly of training. Each includes a screenMake surewith the My tabmethod is selected at the top of task the dialog box. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Check the first box if you want the Enter key to move you between fields, the way the Tab key does. If you leave the box unchecked, pressing Enter typically completes a transaction. If the next box is checked, you'll hear a "beep" sound every time you complete a transaction. Here's an option that everyone has an opinion about. If you want to type 1234 and have it appear as 12.34, check this box. If you want 1234 to appear as 1,234.00, leave the box unchecked. Checking the Warn When Editing option results in a pop-up box appearing every time you make changes to a previously saved transaction.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helpsDeleting readers option learn visually to perform tasks using the leading you The Warn When causes how a pop-up warning to appear whenever accounting software for a small businesses. able to find answers attempt to delete transaction or anThey itemare that hasn't been used. to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Deleting Entries on a List" on page 65 for information about removing items from lists in QuickBooks.

If you've ever seen a message in QuickBooks that gave you the option of checking a box so the message would not reappear, and you checked the box, here's your chance to see those messages again. Check the Automatic Recall option if you want QuickBooks to read your mind. As soon as you start typing, QuickBooks finds the customer or vendor that matches your entry and fills in all related information. When you check the ToolTips option and then place your mouse pointer over a field where the text is too long for the field, QuickBooks displays the extended text. Choose whether you want to have today's date used as the default in new transactions, or you can use the last entered date as the default.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can override customer or vendor information entered by QuickBooks. When you begin a transaction, such as writing a check, you can change the information that fills in automatically right on the form you are using.

Set Company General Preferences With General selected on the left side of the Preferences dialog box, click the Company Preferences tab at the top of the box. Choose whether you prefer to have time shown in decimal or actual minutes format. This choice is significant if you use QuickBooks for tracking time. Indicate whether you prefer to have years shown with four digits. Uncheck the box if you want to display two-digit years. If you change vendor or customer information that appears on your screen, QuickBooks will update the records for that customer or vendor with the new information. Checking this last box prevents QuickBooks from making the update.

IMPORTANTSave your changes. Any changes you make in the QuickBooks preferences dialog box are ignored by the program if you click the "X" or press Esc to close the box. Be sure to click the OK button to save all your changes.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Desktop View Preferences If you use QuickBooks on someone else's computer, you might see a program that looks different from your own. The reason is that there are a variety of ways in which you can customize the appearance of your QuickBooks program. Some people might use a different • Table of Contents color scheme, some might like to use the navigator bar at the side of the screen, and others • prefer not toIndex use this tool. You might prefer to see a separate QuickBooks window on your Show Mefor QuickBooks® 2004 screen each transaction that is in progress, whereas other users might want to fill the screen with a single window. Choose the settings you prefer. If you use QuickBooks on a By Gail Perry network, each user can have separate desktop settings. For that reason, you might see that there are only My Preferences available among the desktop view choices, and no Company Publisher: Que Preferences from which to choose. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Set Desktop View Preferences Select Preferences from the Edit menu, and then click the Desktop View icon on the left side of the dialog box. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions the Mywith Preferences tab, choose whether you wantEach to see one QuickBooks quickly andOn visually this user-friendly method of training. task includes a screenwindow at a time or multiple windows. Note that if you select One Window, can still by-screen visual accompanied by a concise text description that makes performingyou everyday open multiple windows in QuickBooks; they just layer instead of appear separately. tasks quick and simple. Check the Navigator box if you want the navigator bar to appear on your screen.

Choose an option for the display of your desktop. If you select the first option, every time you open QuickBooks, the program will remember how your screen looked the last time you closed the program. Select Save Current Desktop and you can set up a desktop scenario to appear every time you open the program.

Select from a variety of color schemes for your desktop display. The two Windows Settings buttons open Windows program dialog boxes that give you format options for your computer as a whole.

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Show Me QuickBooks® 2004

Did You Know?

ByGail Perry

You can change your screen resolution. If you can't see all your QuickBooks Publisher:inQue windows your screen, your screen resolution might need to be adjusted. Click thePub Display Date: February button19, in2004 the Desktop View preferences, and then click the Settings tab. Experiment with changing the setting on the Screen Area so that you find a ISBN: 0-7897-3078-2 resolution appropriate to your QuickBooks program. The higher the numbers you Pages: 320 select, the smaller your screen items will appear, and more items will fit on your screen.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Sorting Lists Sometimes the list you see isn't the list you need. There are several ways that you can change how your list is sorted. If you've sorted a list and decide that the result isn't what you need, you can easily return your list to the way it was originally sorted. If your list contains • Contents subaccounts,Table youofcan choose to retain the subaccount indentations when sorting. •

Index

Show Me QuickBooks® 2004

Sort a List ByGail Perry

Publisher: Que

Choose list from Pub Date: Februarya19, 2004

the Lists menu and display that list on your screen.

ISBN: 0-7897-3078-2 Pages:Click 320

the heading of one of the columns to sort the list by that column. Notice that an up arrow appears at the top of the column, indicating the column is sorted alphabetically or numerically (depending on the type of content) in ascending order.

Click the column arrow once to change the direction of the arrow and change to a Show descending Me QuickBooks sorthelps order.readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Click visualthe accompanied heading of any by aother concise column text description to sort by that thatcolumn. makes performing everyday tasks quick and simple.

Click the diamond that appears to the left of the first column to return the list to the default sort order. However a list is sorted when you close the list, the same sort order remains in place the next time you view the list.

Did You Know? The default order depends on the list you are viewing. For example, the Chart of Accounts list is sorted first by Type, and then alphabetically by Name. you of use account numbers (see " Using Account Numbers ," later in this • However, ifTable Contents chapter), this list is sorted by account number. • Index Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Adding Accounts During the EasyStep Interview you had the option of accepting a standard chart of accounts for your company. Whether you chose to use the standard accounts or to start from scratch, you always have the option of adding new accounts to your existing list of accounts. There • Table ofto Contents are many reasons add accounts. The standard list provided by QuickBooks might not be • Index sufficient. Your company might have grown to add new types of income and you need Show Me QuickBooks® 2004change. You might have incurred a new expense that doesn't fit into accounts to reflect that any the existing account categories. You might not like the names of the accounts that By GailofPerry were assigned by QuickBooks or by a predecessor. Whatever the reason, adding new account names is a simple process. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Add Pages: an Account 320

Open the Chart of Accounts window by choosing Chart of Accounts from the Lists menu, or by pressing Ctrl+A. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading the Account button at the bottom ofable the window and choose Newquestions from the accountingClick software for small businesses. They are to find answers to their drop-down menu, or press Ctrl+N. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Inand the simple. New Account window, choose the type of account. Cost of Goods Sold has been selected in the figure. If you select a different account type, your screen might look different. Enter a unique name for this account. The name you enter will appear on company financial statements, so be sure the spelling and capitalization are correct.

If this account is to appear on financial statements as a subaccount of another

account, check the Subaccount check box and choose the parent account from the drop-down list. Enter an optional description for this account. The description field, and, if visible, the note or bank account fields are optional fields. If Table you plan to use QuickBooks to prepare information for your company's income of Contents tax return, choose a tax line for this account. Pick the line on which information from • Index this account is to be summarized on your tax return. Show Me QuickBooks® 2004 •

ByGail Perry

Your new account window might include an Opening Balance field. If there is a balance Publisher: Quein the account when you begin using QuickBooks, enter that balance in this field. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using Account Numbers QuickBooks doesn't automatically display account numbers for your company's accounts, but the numbers are still there. In the background, QuickBooks has assigned account numbers for all your starting accounts. You can accept these numbers or change them. When you add • Table Contents accounts, you canofassign any number you want. Your account numbers can be up to seven • Index characters long and contain letters and numbers. Show Me QuickBooks® 2004 ByGail Perry

Use Account Numbers Publisher: Que Pub Date: February 19, 2004

Turn on account numbering by selecting Edit, Preferences, and selecting Accounting ISBN: 0-7897-3078-2 in the Preferences window.

Pages: 320

Click the Company Preferences tab, and then check the Use Account Numbers option to make account numbering available for your company. Show Me QuickBooks helpsthis readers learn visually how to perform tasks using the leading Click OK to save change. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen View visualaccount accompanied numbers by by a concise pressing text Ctrl+A description to openthat the makes Chart of performing Accounts window. everyday tasks quick and simple. Add or change an account number by clicking the account name and then pressing Ctrl+E to edit the account. Enter the account number. Click OK to save the new account number.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Your financial statements are ordered in account number order. When you assign account numbers, those numbers are treated as if they are a part of the account name, and any financial statements that appear in account name order are ordered chronologically by account number. Keep this in mind when selecting account numbers for your accounts so the accounts on your financial statements will be ordered correctly.

Adding Customers To use QuickBooks to its full advantage, enter all your customer names and details in your QuickBooks company file. Sometimes it isn't feasible to enter all customers. For example, if you operate a retail store where customers shop anonymously, you don't have the luxury of • Table of Contents obtaining names, addresses, and other details. But for many businesses, knowing your • customers isIndex a requirement for successful business dealings. By using QuickBooks to keep Show 2004 you can personalize their billings, send invoices and mailings trackMe of QuickBooks® your customers, effortlessly, By Gail Perry and see at a glance the status of their accounts. QuickBooks provides you with built-in fields for entering detailed information about each of your customers. Publisher: Que Pub Date: February 19, 2004

Add Customers ISBN: 0-7897-3078-2 Pages: 320

Select Customer:Job List from the List menu to view a complete list of current customers. Click the Customer:Job the bottom the dialog boxusing that the appears, and Show Me QuickBooks helps readersbutton learn at visually how toofperform tasks leading then click New for from the businesses. drop-down menu (or able presstoCtrl+N). accounting software small They are find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Enter visualall accompanied by a you concise description that makes performing everyday the information havetext about this customer, including name, address, tasks quick billingand andsimple. shipping addresses, phone and fax numbers, and email address. Click the Check Credit button if you want to use the QuickBooks Credit Check service, a fee-based service available to QuickBooks users. Click the Address Details buttons if you need to specifically identify which pieces of the address go with the descriptions of street, city, state, country, and so on. Using the Copy button enables you to quickly transfer address information from the Bill To address field to the Ship To field. Click the Additional Info tab to progress to the next customer information screen.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

If you plan to track this information, enter the type of referral that led this customer to you. Enter the terms you've chosen for this customer. You can select to add your own options to this and the other drop-down lists.

See Also See "Creating Payment Terms " on page 176 for information on setting up payment terms for your customers.

If the customer is subject to sales tax, you can identify the type of sales tax and indicate that the customer is taxable in the Sales Tax Information section of the window.

You can use the Custom Fields area to create useful fields of your own. Click the Define Fields button to add your own fields to this area. Click the other tabs to enter information such as credit limit, credit card number, status of job, and so on. •

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Adding Vendors Vendors are businesses and people who regularly sell you goods and services. When you enter vendor information in QuickBooks, you have all the details you need to contact your vendors, prepare purchase forms, process year-end 1099 forms, write checks, and create • Table of Contents spending. You might have set up many of your company's vendors reports of your company's • Index through the EasyStep Interview. You can add to that list at any time, either when you worked Show Me QuickBooks® 2004 with the process described here or "on-the-fly," as described later in this chapter. ByGail Perry Publisher: Que Enter Vendor Address Information Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Open the Vendor list by selecting Vendor List from the Lists menu. Open the New Vendor window by pressing Ctrl+N or by clicking the Vendor button at the bottom of the New Vendor window and selecting New.

Pages: 320

Enter a name for the vendor. This is the name you use to choose the vendor from vendor list.helps readers learn visually how to perform tasks using the leading Show your Me QuickBooks accounting software for small businesses. They are able to find answers to their questions quickly and with this to user-friendly training. QuickBooks Each task includes a screenIf visually a balance is due this vendormethod at your of company's start date, enter by-screen visual accompanied by a concise text description that makes performing everyday the amount and the start date in the space provided. tasks quick and simple. Enter the vendor's legal name in the Company Name field. This is the name that appears on forms you prepare for this vendor. Enter the name of a personal contact, if applicable, and the mailing address of the vendor. This address appears on forms you prepare for this vendor. Enter other pertinent information, such as an additional contact name, telephone and fax numbers, email address, and so on. If there is a name other than the Company Name that needs to appear on checks to this vendor, enter that name in the space provided.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter Additional Vendor Information Click the Additional Info tab to access another page of information for the vendor. Enter an account number. This is the number that this vendor has assigned to your company. For categorizing purposes, enter the type of goods or service you acquire from this vendor. Enter terms, if applicable. The payment terms you enter allow your QuickBooks program to calculate the due date of payments owed to this vendor. If you are required to supply this vendor with a 1099 form, check the appropriate box and enter the vendor's tax identification number. You can use the Define Fields button to create new fields that are customized to your business needs. Click OK to complete the entries for this vendor.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Adding Items in the List Window Anitem is a description that appears on your purchase and sales forms. Services and products that you buy and sell are items, as are the charges related to those services and products, including discounts, freight charges, late fees, and sales tax. Anything that can • of Contents appear as anTable entry on a sales or purchase form is considered to be an item. At any time you • Indexitem list, increasing the number of items that can be entered on your can add to your Show Me QuickBooks® company's forms. 2004 ByGail Perry Publisher: Que Add Items Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

To create a new item, open the Item List by clicking the option of the same name on the Lists menu. Press Ctrl+N to open the New Item window.

Pages: 320

Select the type of item from the drop-down list that appears. Your item type must be selected from one of the 10 categories offered in this list. Inventory Part has been in this example. Yourlearn screen might how differtoifperform you select a different item type. Show selected Me QuickBooks helps readers visually tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually withby this user-friendly methodthis of training. Each includes a screenEnter a name which you will identify item when youtask enter the item on by-screen visual accompanied by a concise text description that makes performing everyday purchase and sales forms. If the item is to be a sub-item of another item, check the tasks quick and Of simple. Sub-item box and enter the parent item. Enter the description you use for this item on purchase forms such as purchase orders and bills. Enter the cost you pay when you purchase this item. If the cost varies with each purchase, leave this field blank and enter the cost on the bill when you enter the actual purchase in QuickBooks.

Enter the account to which you will charge the expense for this item.

If you purchase this item from the same vendor time after time, enter the vendor name. Otherwise, leave this field blank and enter the vendor name on the bill each time you purchase the item.

• •

If you are creating an inventory item, enter the asset account to which this item is added Table whenofpurchases are made. The Asset Account field might not appear, depending Contents on theIndex type of item you are creating.

Show Me QuickBooks® 2004 ByGail Perry If

you are entering an inventory item, enter the number of the items to trigger a reorder. Enter also the quantity of items currently on hand.

Publisher: Que Pub Date: February 19, 2004

Enter sales information for this item, if applicable, including the name of the item ISBN: 0-7897-3078-2 as it appears on an invoice, the sales price, whether or not the item is taxable, and the Pages: 320 to which income from the sale of this item is credited. account

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Types of Items QuickBooks gives you the option of creating 10 types of items. Any items that you create must fit into one of these 10 categories. • •

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Service— Labor charges and professional fees. Index

Show Me QuickBooks® 2004

Payment— Money received that reduces the amount owed on an invoice.

ByGail Perry

Inventory part— Merchandise your company purchases, keeps in stock, and resells. Publisher: Que

Non-inventory part— Pub Date: February 19, 2004

Products you sell but do not normally keep in stock or products you do not purchase (such as livestock that you raised or food dishes that you ISBN: 0-7897-3078-2 prepared). Pages: 320 Group— A group of related items that are saved as one item. Typically you sell the entire group as a whole, but you can also reserve the option to sell pieces of the group individually.

ShowDiscount— Me QuickBooks An amount helps readers of money learn subtracted visually how fromto a perform total or subtotal tasks using costthe of an leading item, accounting such as software a sale markdown for small businesses. or a reduction They in are sales able price to find of a answers specific item. to their questions quickly and visually with this user-friendly method of training. Each task includes a screenSalesvisual tax—accompanied A sales tax item a sales tax at athat specified that represents by-screen by acalculates concise text description makesrate performing everyday amount you pay to a sales tax agency. tasksthe quick and simple. Sales tax group— You can combine related sales tax items, such as state, county, and city tax, as one group, and the group will appear as one item on an invoice. Subtotal— This item serves the purposes of providing a subtotal on an invoice; you can use this subtotal in calculations. Other charge— Items that don't fit in the other groups, such as freight, finance charges and late fees, special handling charges, and rush charges are all considered to be Other Charge items.

Adding Information On-the-Fly When you need to add an item to your Items list, a customer to your customer list, a vendor to your vendor list, or any other piece of information to a list in QuickBooks, you can open the list and add the item, a process that has been described in this chapter. Alternatively, you • Contents can add the Table item of "on-the-fly," which is to say that you can open a form, such as an invoice or • Index enter the name of the piece of information you want to add to a list. When a bill, and simply Show Me QuickBooks® 2004 that name represents a new entry on the list, a window appears on your screen telling you this is not found on your company lists and asking you whether you want to add By Gailinformation Perry the information now. Choosing to do so makes your job a bit more efficient. For purposes of thisPublisher: demonstration, the next example adds a customer "on-the-fly." The technique shown Que here can be used on any QuickBooks form. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Add a Customer On-the-Fly Open an invoice by selecting Create Invoices from the Customers menu or by pressing Ctrl+I. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions the Customer:Job field, enter method a the name of a customer not includes already in your quickly andInvisually with this user-friendly of training. Each task a screenCustomer:Job List. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click in another field of the form, or press Tab to move to the next field. A Customer:Job Not Found window appears. You have three choices relating to this customer. Clicking Quick Add adds the customer name to your Customer:Job list, and you are ready to complete the form. Clicking Set Up opens the New Customer dialog box, where you can enter all the pertinent information about this customer. Clicking Cancel closes the Customer:Job window. You cannot complete the invoice form until you either add this customer to your Customer:Job list or enter a different customer name.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Invoice forms vary. The invoice form that appears on your screen might vary slightly from the one shown here, depending on the standard type of invoice you chose for your company in the EasyStep Interview.

Creating Subitems You might have noticed that when you set up a new item, customer, vendor, or account, you can designate that the item is a subitem, a lower-level item under a parent, or leader item. If you didn't designate the sub-status when you first entered the information, you can do so • Table Contents after the fact, andofit's really easy. Open the appropriate list and simply drag the item to its • new parent, Index and then drag to indent. Show Me QuickBooks® 2004 ByGail Perry

Create a Subitem Publisher: Que Pub Date: February 19, 2004

Open a list. This example uses the Chart of Accounts list. You can open this list ISBN: 0-7897-3078-2 quickly by pressing Ctrl+A.

Pages: 320

Place your mouse pointer over the diamond to the left of the item that is to become the subitem. The mouse pointer turns into a black four-sided arrow. Show Me QuickBooks helpspointer readerssolearn to perform tasks using the Drag the mouse that visually the itemhow is located directly beneath the leading item that accounting software for small businesses. They are able to find answers to their will be its parent. A dashed horizontal black line appears where the item isquestions to move. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Release and simple. the mouse pointer. Again, place your mouse pointer over the diamond to the left of the item that is to become the subitem. Drag the mouse pointer slightly to the right. A dashed vertical black line appears where the item is to move. Release the mouse pointer. The item is now indented beneath its parent.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Hiding Entries on Lists There might be an entry on one of your company lists that you no longer need to look at. For example, there might be a vendor you dealt with two years ago that is out of business now. If you were to open an old form or prepare a report in which that vendor participated, you • Tableto of view Contents would still need the vendor name. Now, though, when you look at your Vendor List, • you see thatIndex vendor. Because the vendor is no longer available as a current supplier, you can Show Me QuickBooks® 2004so it no longer appears on the list. Now you won't run the risk of hide the vendor's name choosing By Gail Perrythat vendor by mistake. Also, the vendor you hide is no longer included in reports. Publisher: Que

Hide a List Entry Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Open a list. This example uses the Vendor List. Click the name of a vendor you want to hide.

Show Me QuickBooks helpsbutton readers visuallyofhow perform usingchoose the leading Click the Vendor atlearn the bottom the to dialog box,tasks and then Make accounting software for small businesses. They are able to find answers to their questions Inactive. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Check and simple. the Show All check box to display hidden entries on the list.

Did You Know? The Show All box is not always accessible. If there are no hidden members of a list, the Show All box is dimmed and cannot be checked.

Change the Hidden Status of List Entries Hiding information on a list is not a permanent situation. Display hidden entries by checking the Show All box, and then click an entry you want to display.

• •

Click Vendor menu at the bottom of the dialog box, and then select Make Tablethe of Contents Active.Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Deleting Entries on a List There might be an entry on one of your company lists that you want to remove completely. You can remove list entries that have never been used. This option generally applies to account names that QuickBooks entered when you first set up your company and that you • of Contents never intendTable to use, but can also be used for other information you don't need. For example, • Index if you open the Terms List and see several options for payment terms that your company Show Me use, QuickBooks® doesn't you can2004 delete the unwanted choices. ByGail Perry Publisher: Delete a Que List Entry Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Open the list. This example uses the Chart of Accounts List.

Pages: 320

Click the account you want to delete. Click the Account button at the bottom of the dialog box, then select Delete from Show the Me QuickBooks helps readers learn visually how to perform tasks using the leading menu. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Click visualOK accompanied when the Delete by a concise Accounttext window description appears. that makes performing everyday tasks quick and simple. Click Cancel if you change your mind and want to keep the account.

IMPORTANTThere's a shortcut for deleting list entries. Select the entry you want to delete, and then press Ctrl+D.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Merging Entries on a List If you tried to delete an entry from one of your lists and were prevented from doing to, it is because the entry was used at some time in the past on at least one of your company's forms. QuickBooks does not allow you to remove any member of a list that appears on a • Table of Contents form. You can make that list entry inactive by hiding it (see "Hiding Entries on Lists" • previously inIndex the chapter), or you can merge the entry into another entry on the same list. Show QuickBooks® 2004 WhenMe you merge, you combine the unwanted entry into a different entry that you want to keep. For example, say you have a customer named Redland Farms, but when you originally By Gail Perry set up the customer you entered the name as Redling Farms and used that name on an invoice form. Create a new customer named Redland Farms, and then merge Redling Farms Publisher: Que into Redland Farms. All activity of Redling Farms is now part of Redland Farms, and Redling Pub Date: February 19, 2004 Farms no longer exists in your records. If you open the invoice that was prepared for Redling Farms,ISBN: you 0-7897-3078-2 will now see Redland Farms as the customer name. Pages: 320

Merge a List Entry Show Me QuickBooks readers learn visually how to perform tasks using the leading Open a list. helps This example uses the Customer List. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can't delete an entry from a list if it has been used previously. If you try to delete the entry by pressing Ctrl+D, you will receive an error message telling you the entry cannot be deleted.

Click the customer name you want to remove from the list but can't because it has been used before. Click the Customer:Job button at the bottom of the window, and then select Edit from the drop-down menu. You can press Ctrl+E instead.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. When the Edit Customer window appears, change the Customer Name at the top of the window to the name of the customer whom you want to merge this customer information.

IMPORTANTBe sure to spell the name of the customer correctly. When merging one customer's information into another's, or when merging any two list entries, take extra care with the spelling and, if applicable, the punctuation of the name. QuickBooks recognizes a merge attempt only when the name matches exactly the name of the entry to which you are merging. Click the OK button. Click Yes to execute the merge. The unwanted customer name is removed from the customer list and all transactions from that customer are transferred to the customer into which you merged.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Printing Lists Most of the time you'll probably be content with viewing your lists on-screen. But sometimes you need a printed copy of a list to show someone else, or for purposes of checking off list entries as you perform some task, or for other reasons. Printing a paper copy of your list • provides youTable withofaContents printed snapshot of the list as of today. You might want monthly copies • Index of certain lists for comparison purposes. Perhaps you need a copy of your customer list that Show Me QuickBooks® 2004 includes telephone numbers. You can easily print your lists whenever you need them. ByGail Perry Publisher: Que Print a List Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Open the list you want to print, such as the Chart of Accounts, Vendor List, and so

Pages: 320

on.

To print a simple copy of the list, without adding any formatting, press Ctrl+P. Show Me QuickBooks readers that learnappears, visually click how the to perform tasksto using In the Print helps Lists window Print button printthe theleading list. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Alternatively, visual accompanied click the byReports a concise button text description at the bottom that ofmakes the list. performing everyday tasks quick and simple. Depending on the list you opened, the choices vary. Choose from whatever lists appear on the menu. Click the Reports option at the bottom of the Reports menu to see other options.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Accounting Preferences Accounting preferences are rules for your QuickBooks program that relate to your company's unique way of using this program. Included in this section is the opportunity to turn on or off the account numbering feature, and the opportunity to use other important features such as • Table Contents class tracking andofthe audit trail. If you use an outside accountant, you will probably be • Index required to use an audit trail. There's also an option here to require users to enter account Show Me QuickBooks® 2004 forms. This is a safeguard to prevent QuickBooks from assigning numbers on QuickBooks your to an account other than the one you probably want to use! By Gail transaction Perry Publisher: Que

SetPubAccounting Date: February 19, Preferences 2004 ISBN: 0-7897-3078-2 Pages: 320

Open the Preferences window by selecting File, Preferences. Click the Accounting icon on the left side of the window.

Click the Company Preferences tab at the top of the window. There are no options My Preferences tab. Show on Me the QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually this Numbers user-friendly of training. Each task includes a screenCheck the with Account box method to turn on account numbers. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Turning off account numbers does not remove the numbers. If you decide to turn off the account numbers option, for example if you want to print a report that doesn't display account numbers, the numbers you assigned to accounts remain in place. The next time you turn on account numbers, all the numbers return.

Check the Show Lowest Subaccount Only box if you use account numbers and you can display subaccounts independent of their parents on reports. Check the Require Accounts option to prevent a user from exiting a form without entering related account information.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learnoption visually how to the perform using the leading If Check the Use Class Tracking to enable Classtasks feature in QuickBooks. accounting software small you businesses. to find that answers to their questions to you check this for feature, have an They optionare of able requesting the user be prompted quickly and visually assign classes.with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Setting Up Classes" on page 174 for information about creating and using the QuickBooks Class feature.

Turn on the audit trail so you can produce a record of all transactions and changes in your QuickBooks company file. Your accountant might require you to use this feature. Indicate a date after which no entries can be made to your company file unless a password is entered.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks simple. Did quick You and Know? Only the Administrator can set accounting preferences. If your QuickBooks file is set up for multiple users, one user is designated as the Administrator. Only the Administrator has the right to change settings of the accounting preferences.

See Also See "Setting Up the Administrator " on page 220 for information giving administrative rights to one user.

Chapter 4. Invoicing and Collecting Income • What You'llTable Do of Contents •

Index

SetQuickBooks® Sales and Customers Show Me 2004

Preferences

ByGail Perry

Create an Invoice

Publisher: Print aQue Single

Invoice

Pub Date: February 19, 2004

Print Batch of Invoices ISBN:a0-7897-3078-2 Pages: 320

Email an Invoice Charge Your Expenses to a Customer Set Finance Charge Preferences Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Createsoftware a Monthly accounting forStatement small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenSet Preferences for Sending by-screen visual accompanied by Forms a concise text description that makes performing everyday tasks quick and simple. Track Accounts Receivable Receive Payments for Invoices Issue a Credit or Refund Receive Cash Make Deposits Receive Advances and Down Payments Issue Discounts View Unpaid Invoices Create a Collection Letter Record Bad Debts

Introduction Having a method of recording your income is likely one of the main reasons you purchased your QuickBooks program. You need to be able to track your company's revenue and record income transactions so you know how well your company is performing. You need a vehicle • Contents your income into appropriate accounts so that you can produce whereby youTable can of separate • Index statements that tell you where your company's strengths and weaknesses reliable financial Show Me QuickBooks® are. You need to be 2004 able to provide your customers with an opportunity to make down payments By Gail Perry and partial payments, and you need to give them the right to receive refunds and credits for returned merchandise or unfulfilled obligations. You need to have the mechanism in place for recording amounts you deposit in your bank account. In this day and age, you Publisher: Que need to be able to email an invoice to customers. If you incur expenses on behalf of a Pub Date: February 19, 2004 customer, you need to be able to charge those expenses to your customer. You also need to 0-7897-3078-2 be ableISBN: to assess finance charges for late payments. Pages: 320

All of this and more can be accomplished through the invoicing and collection services available in your QuickBooks program. This chapter explains how you can meet all of your revenue-collection obligations. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Sales and Customers Preferences You can customize some of the standard features that apply to invoices by making adjustments in the Sales And Customers preferences screen. The types of preferences that relate to your sales operations include setting a default shipping method, setting a standard • Tablefor of Contents markup percent items you purchase and resell to customers, and indicating a standard • FOB for yourIndex company. In addition, you indicate how you want reimbursements to be Show Me QuickBooks® 2004 records, in what order customer payments are to be applied to recorded in your financial outstanding invoices, whether you want to be told you are about to issue a duplicate invoice By Gail Perry number, and whether you want to use the QuickBooks Price Level feature. The QuickBooks Price Level feature enables you to easily apply discounts or price increases to items on your Publisher: Que invoices. The settings you make here affect all of your company's invoices. Note that only a Pub Date: February 19, 2004 user with administrative rights can make changes to sales' and customers' preferences. ISBN: 0-7897-3078-2

Pages: 320

Set Sales and Customers Preferences Select Preferences from the Edit menu. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions the Sales & Customers icon. quickly andClick visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick andthe simple. Click Company Preferences tab. Indicate the most common shipping method that your company uses. Enter a percent that is to be used for standard markups on items your company buys and resells to customers. Indicate the normal FOB status that applies to your sales.

Did You Know?

• •

You can change preference settings on invoice forms. The settings you make in the Sales and Customers Preferences dialog box affect all of your company's Table ofinvoices. Contents However, you can override these settings, if necessary, on the actual invoices. Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 Did You Know? ISBN: 0-7897-3078-2 320for FOB Pages: stands

Free on Board. FOB refers to the physical place where the ownership of an item changes hands from the vendor to the purchaser. This designation is used when discussing shipping costs and is important for determining who has the responsibility of shipping and insurance costs. " FOB Our Warehouse" for example, means the ownership of the item transfers to the purchaser when it leaves seller's warehouse. responsible for leading Show Me QuickBooks helpsthe readers learn visually The how purchaser to performistasks using the shipping charges and on the item from time leaves the seller's accounting software forinsurance small businesses. They arethe able to it find answers to their questions premises. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Check here if a customer reimbursement for expenditures you make will be recorded as income rather than an offset to the expense account. Check this box if you want to receive a warning when you are about to issue an invoice with a number that duplicates another invoice. Check here if you want to use the QuickBooks Price Levels feature for quickly adjusting amounts on sales forms by a preset percentage. Check here if you want to round sales prices up to whole dollars. This option is available only if you choose to activate price levels. Check here if you want QuickBooks to apply customer payments to outstanding invoices, with the payment being applied to the earliest invoice first, unless there is an exact match of payment to invoice amount. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating an Invoice The invoice is the basic form you use to charge your customers for goods and services. Invoices include detailed lists of all items that you charge to a customer. There are three invoice forms available in QuickBooks. Choose the form that best suits the type of business • of Contents you do. You Table can use the invoice form as a document that you give or send to your customers, • Index or you can use it purely for internal purposes, to record sales that occur in your company. Show Me QuickBooks® 2004 ByGail Perry

Create an Invoice Publisher: Que Pub Date: February 19, 2004

Select Create Invoices from the Customers menu, or press Ctrl+I.

ISBN: 0-7897-3078-2 Pages: 320

Select a customer and, if applicable, a job from the Customer:Job list. Verify that the date is correct, making any necessary changes. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software here if foryou small want businesses. to choose They a different are able style to of find invoice. answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter the terms that apply to this customer. tasks quick and simple. Enter each of the items that this customer is purchasing, along with quantities and amounts (the amounts might appear automatically, depending on how the items are entered in your records). Check a box if you want to print this invoice now or email it to your customer. Otherwise, the invoice will be added to the queue to print later. Select a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Printing a Single Invoice When it's time to send your invoice to a customer, it pays to first take a look at the form and double-check to make sure everything is the way you want it. After previewing the invoice, you can choose to print the form right away or save it for printing later, perhaps with a batch • Table of Contents of other invoices. •

Index

Show Me QuickBooks® 2004

Print a Single Invoice ByGail Perry

Publisher: Que

Prepare Pub Date: February an 19, invoice. 2004 ISBN: 0-7897-3078-2 Pages:Click 320

the drop-down arrow next to the Print button.

Select Preview from the menu. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Didvisual Youaccompanied Know? by a concise text description that makes performing everyday tasks quick and simple. Program advertisements appear from time to time. When you make certain selections in QuickBooks, you might notice extra windows appearing, offering more information about special features such as how to print labels or how to order pre-printed supplies. When these windows appear, you can check a box in the window to keep the window from appearing again in the future, or you can simply click OK to close the window.

After previewing your invoice, click the Close button to close the Preview screen. Click the Print menu again to choose from various print options. Select Print (or press Ctrl+P) to print the invoice. Click Print in the Print One Invoice dialog box that appears.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Printing a Batch of Invoices Sometimes it's easier to print several invoices at once, particularly if you have to change the paper you use in your printer. You can save your invoices with instructions to print later, and then follow these instructions to print all the forms at once. •

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Show Me QuickBooks® 2004

Print a Batch of Invoices ByGail Perry

Select Publisher: Que

Print Forms from the File menu, and then select Invoices.

Pub Date: February 19, 2004 ISBN:Check 0-7897-3078-2 each invoice

you want to print at this time.

Pages: 320

You can save time by using the Select All and Select None buttons, and then checking or unchecking the invoices. Show Me QuickBooks Click OK. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenClick the Print button. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Emailing an Invoice The most popular form of communication these days seems to be email, so why not take advantage of this medium to dispatch your invoices? Email is easy and you can get your invoice into the hands of your customer quickly. One word of warning: Make sure your • Table ofthe Contents customer expects e-invoice so your message won't get lost in the shuffle of junk that • Index boxes. If your customer is keen on electronic communication, you might be permeates email Show Meencourage QuickBooks®an 2004 able to electronic payment, which reduces the turnaround time on your invoice even By Gail more. Perry Publisher: Que

Indicate Status on an Invoice Pub Date: Email February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Create an invoice, or open an invoice form already created but not yet printed. Check the To Be E-mailed box to initiate email delivery.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Save invoice. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen If visual the customer's accompanied email by address a concisewas textnot description entered previously, that makesyou performing are prompted everyday to tasks quick enter and it now. simple. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Email addresses entered on-the-fly are saved for future use. If you are prompted to enter your customer's email address, you only have to enter it once. Your entry is saved with this customer's information for future use.

Send One Invoice by Email Open the invoice on which you indicated email delivery. Click the drop-down arrow next to the Send button. Select E-mail Invoice. Verify that the information in the cover letter is correct.

Click the Send Now button.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Send a Batch of Email Invoices Select Send Forms from the File menu. Click to the left of each form you want to send. Check marks appear to the left of each selected form. Click any form to preview the accompanying cover letter. Click Send Now.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Charging Expenses to a Customer When you make a purchase on behalf of a customer, you need to designate the customer on the bill. Then, when you create an invoice for the customer, you can request that expenses be charged as well as any other items that go on the invoice. You can also choose a markup for • ofintend Contents the expense Table if you to sell it to your customer at a profit. •

Index

Show Me QuickBooks® 2004

Designate Customer When Making a Purchase ByGail Perry

Publisher: Que

Prepare Pub Date: February a 19,new 2004bill

for a purchase, or open an existing bill.

ISBN: 0-7897-3078-2 Pages:Enter 320

the customer's name and, if applicable, a job.

Save the bill. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can associate an expense with a customer without charging the customer for the expens. If you click the invoice icon next to the customer's name on a bill, a red "X" appears on the invoice and the amount is not charged to the customer.

Place Expenses on a Customer Invoice Open an invoice form and enter the customer information.

If this pop-up dialog box appears, click OK. Click the Time/Costs button. Click the Expenses tab.

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Show Me QuickBooks® Enter the 2004 markup

amount or percentage if none appears.

ByGail Perry

Verify the account where the markup income is recorded. Publisher: Que Pub Date: February 19, 2004

Click in the left column to check any item you want to include on this invoice.

ISBN: 0-7897-3078-2 Pages: 320

Indicate whether the expenses are taxable to the customer. If you are charging more than one item to the customer and if you want all the items to appear as a single item on the customer invoice, check this box. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Click OK. with this user-friendly method of training. Each task includes a screenquickly and visually by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Complete the invoice and save it.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can remove the markup amount from the customer invoice. If you increase the expenses charged to your customer by a markup amount, this amount appears on your customer invoice unless you check the Print Selected Time and Costs as One Invoice Item option. When you check this box, the markup still appears on your screen version of the invoice, but the printed version combines the markup with the billed expense into one amount.

Setting Finance Charge Preferences Do you charge your customers a fee for late payments? If so, you can create several settings to ensure that the process of assessing finance charges is consistent and automatic. Any settings you establish here can be revised later, but you'll save yourself time by thinking • Table of Contents through these options and making the settings before you start dealing with customers who • Index made late payments. Show Me QuickBooks® 2004 ByGail Perry

Set Finance Charge Preferences Publisher: Que Pub Date: February 19, 2004

Select Preferences from the Edit menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the Finance Charge icon. Click the Company Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingIndicate software the forannual small businesses. interest rateThey that are yourable company to findcharges answersfor to late theircustomer questions quickly payments. and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Indicate the minimum finance charge, if any, that your company assesses on late payments. Indicate the number of days after the payment due date that you allow as a grace period before finance charges are assessed. Enter the account you use to track finance charges. Check this box if you add previous finance charges to the balance when computing additional finance charges. Choose whether finance charges are assessed based on the due date or the invoice date. Check this box if you want to send an invoice to customers when finance charges are assessed. If you check this box, QuickBooks automatically generates invoices and places them in your print queue. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating a Monthly Statement Nobody wants customers who don't pay their bills on time. But if you have some customers like this, you probably want to send them a reminder that they owe you money. The monthly statement lists outstanding invoices and also provides you with an opportunity to assess a • Table of Contents finance charge. •

Index

Show Me QuickBooks® 2004

Create a Monthly Statement ByGail Perry

Publisher: Que

Select Create Statements Pub Date: February 19, 2004

from the Customers menu.

ISBN: 0-7897-3078-2 Pages:Indicate 320

the date that will appear on the statement.

Choose whether you want to prepare statements for invoices issued during a particular timeframe or for all outstanding invoices. If you choose a particular timeframe, enter the range of dates to be covered in this statement period. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and If visually you choose withtothis prepare user-friendly statements method for all of outstanding training. Each invoices, task includes check this a screenbox if by-screen you want visualtoaccompanied limit the statements by a concise to invoices text description more than that a designated makes performing number everyday of days tasks quick overdue. and simple. Select the customers who will receive statements. If you select any option other than All Customers, you can then select the specific customers who will receive statements.

Did You Know? • •

You can't save statement options. If you make selections in the Table of Contents statement dialog box and then click Close rather than printing or emailing Index your statements, the choices you made are not saved.

Show Me QuickBooks® 2004 ByGail Perry

Choose the form to use for the statements. Publisher: Que Pub Date: February 19, 2004want Indicate if you

to create one statement per customer or per job.

ISBN: 0-7897-3078-2 Pages: 320

Check here if you want to provide details from the invoice(s) on the statement.

Check these boxes to customize the selection of which customers receive statements. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Choose between printing and emailing statements. Statements are not queued for quickly and visually with this user-friendly method of training. Each task includes a screenlater printing. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Send Forms Preferences You can create default cover letters that accompany your invoices, estimates, statements, purchase orders, and any other forms you send by email. You can change a message before it is sent, but this timesaver will give all of your emailed business forms a professional look. •

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Show Me QuickBooks® 2004

Set Send Forms Preferences ByGail Perry

Select Publisher: Que

Preferences from the Edit menu.

Pub Date: February 19, 2004 ISBN:Click 0-7897-3078-2 the Send

Forms icon.

Pages: 320

Click the Company Preferences tab. Select the form for which you are creating a default cover letter. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Select a salutation. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Select the style you want to use for names. Type the text of your default letter. Click here to check the spelling in your letter. Repeat steps 4–8 for each type of form. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? There's no need to save as you go. When creating default cover letters, you don't have to save your work as you switch from one letter to the next. All of your letters are saved at once when you click the OK button.

Tracking Accounts Receivable QuickBooks keeps track of all amounts owed to you by your customers. In addition, QuickBooks produces aging reports to show you how long overdue these outstanding amounts are. Examine these reports frequently so you can keep on top of your company's • Table of Contents collection effectiveness and so you'll know which customers have trouble making timely • payments. Index Show Me QuickBooks® 2004 ByGail Perry

Track Accounts Receivable Publisher: Que Pub Date: February 19, 2004

Select Customers & Receivables from the Reports menu.

ISBN: 0-7897-3078-2 Pages: 320

Select A/R Aging Summary to see a list of customers and the amounts owed by them. Select A/R Aging Detail to see every invoice that is overdue. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Double-click visually with any this amount user-friendly to see the method actual ofinvoice training. form. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Press Esc to close the reports.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Receiving Payments for Invoices You've received a check from a customer! Now you need to record the payment and indicate that the invoice has been paid. Doing so clears your accounts receivable account and places the funds in an undeposited funds holding area in your QuickBooks file until you deposit the • Contents funds. WhenTable you of actually deposit the money, the undeposited funds account is cleared and • Index cash is increased. Show Me QuickBooks® 2004 ByGail Perry

Receive Payments for Invoices Publisher: Que Pub Date: February 19, 2004

Select Receive Payments from the Customers menu.

ISBN: 0-7897-3078-2 Pages: 320

Enter the customer's name Enter the payment method. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingConfirm software the fordate small on businesses. which the payment They areisable received. to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter the amount received. tasks quick and simple. Enter the check number or other applicable reference number. Verify that the amounts are applied appropriately to the outstanding invoices by checking the invoices in order of how the payment will be applied. Indicate whether the amount is to be deposited immediately or grouped with other undeposited funds. Click a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Issuing a Credit or Refund If a customer returns an item or if for any other reason you need to issue a credit or a refund to a customer, you can do so easily. You are given room to fully describe the reason for the credit or refund, and you can indicate whether tax applies to the amount. •

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Show Me QuickBooks® 2004

Issue a Credit or Refund ByGail Perry

Select Publisher: Que

Create Credit Memos/Refunds from the Customers menu.

Pub Date: February 19, 2004 ISBN:Enter 0-7897-3078-2 the customer's

name and, if applicable, the job to which this credit or refund

Pages: 320 relates.

Verify that the date is correct. Show Me QuickBooks Enter the item helps for readers which the learn credit visually or refund how to is being perform issued. tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenDescribe the reason for the credit or refund. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the quantity, and, if applicable, the rate. Enter an optional customer message. Indicate if you want to print the credit memo or send it by email (these two options are not mutually exclusive—you can do both if you want). Save the credit memo.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Customer messages are saved in QuickBooks. If you enter a message in the Customer Message area, and this is the first time you've used that message, you are prompted to add the message to your saved messages so that you can select the message again in the future, without having to retype it. Click the down arrow in the Customer Message area to view other messages that have been saved.

Receiving Cash Companies that make cash sales need to record these sales, just as companies that issue invoices record their sales. If yours is a cash business, such as a retail store, you probably don't keep a list of all of your customers. For sales to anonymous customers, you can create • Tablename of Contents a customer and it something like Cash Customer or simply Customer, and still record • Index your sales properly in QuickBooks. Show Me QuickBooks® 2004 ByGail Perry

Receive Cash Publisher: Que Pub Date: February 19, 2004

Select Enter Sales Receipts from the Customers menu.

ISBN: 0-7897-3078-2 Pages: 320

Enter a generic name for the cash customer in the Customer area. Select Quick Add to add this name to your customer list if the name has not been used previously. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Verify visually the with date this of the user-friendly sale. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the item(s) sold. Enter the quantity and rate. Indicate whether the cash is to be grouped with other funds or deposited immediately. Click the Print button if you need a paper copy of this form. Save the form.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Use the Deposit To option for sales entered after the fact. If you are recording a sale that occurred previously, and the cash has already been deposited in your bank, be sure to use the Deposit To option for treatment of cash and indicate into which account the money was deposited.

Making Deposits When you record the receipt of a payment, you always have the option of recording an immediate deposit or grouping the payment with other payments to be deposited later. If you've chosen to deposit the funds later, you need to follow these steps to record the actual • Table of Contents deposit. •

Index

Show Me QuickBooks® 2004

Make Deposits ByGail Perry

Publisher: Que

Select Make Deposits Pub Date: February 19, 2004

from the Banking menu.

ISBN: 0-7897-3078-2 Pages:Change 320

the payment type if you want to view a particular type of payment (such as only cash or only MasterCard and Visa).

Check off each of the deposits you want to make at this time. You can use the Select All button to check off the entire list at once. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually OK. with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Verify the account to which the money will be deposited. Verify the date of the deposit. Verify all deposit information. If you intend to take cash back from the deposit, enter the account from which to withdraw the cash. Enter an optional menu regarding the cash back. Enter the amount of the cash back. Click the Print button if you want to print a deposit slip or a summary of the deposit. Choose which documents you want to print. Click the Print button. Save the deposit.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Receiving Advances and Down Payments You might require that your customers or clients give you advance payments, retainers, layaway payments, or down payments on purchases of goods or services. If it's a down payment on the purchase of goods, you can create an invoice for the goods and then can • Table of Contents record the payment as a partial payment for that invoice (see "Receiving Payments for • Index in this chapter). If you are taking an advance payment or a retainer for Invoices," earlier Show 2004 goodsMeorQuickBooks® services that have not yet been invoiced, the procedure for recording the payment is somewhat By Gail Perry different. Publisher: Que

Receive Pub Date: Advances February 19, 2004 and Down Payments ISBN: 0-7897-3078-2 Pages: 320

Select Make Deposits from the Banking menu. Note: If the Payments to Deposit window appears, ignore that window at this time by clicking the X in the upper-right corner to close the window.

Indicate thehelps account into learn whichvisually this money be deposited. Show Me QuickBooks readers how will to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with of this user-friendly method of training. Each task includes a screenEnter the date the deposit. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the name of the customer and, if applicable, the job related to this deposit. Enter the account in which the deposit will be recorded. Typically this is a current liability account, not an income account. Enter optional information about the method of payment. Enter the amount of the deposit. Click Print to print a deposit slip or deposit summary. Save the deposit.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Issuing Discounts If you offer discounts to your customers, you can record that information on a separate Discounts and Credits screen in QuickBooks. There are three types of discounts you can issue—sales discounts that you enter on a customer's invoice, early payment discounts • Table of Contents recorded automatically for customers who pay within a specified time period, and company• Index wide discounts such as when your company has a clearance sale on excess inventory items. Show Me QuickBooks® 2004 The first two types of discounts are discussed here. Company-wide discounts are discussed in the "Adjusting Price of Inventory" section of Chapter 14. By Gail Perry Publisher: Que

Enter a Sales Discount on an Invoice Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Press Ctrl+I to open an invoice.

Enter the relevant customer information and a description of the items this customer is purchasing. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software for small They are able to find answers to their questions Discount in thebusinesses. Item section. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Add anda simple. description of the discount. Enter the percent of discount. Enter the percent as a negative number. The discount is then applied to the item on the line above. Complete the invoice.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? A discount can be applied to more than one invoice item. Use Subtotal as an invoice item if you want to subtotal two or more items above the subtotal line, and then apply the discount to the subtotal line.

Enter a Discount for Early Payment Select Receive Payments from the Customers menu. Verify the date on which the payment is received.

Did You Know? Date of receipt can differ from date of deposit. When issuing a discount for an early payment, the date on which the payment was received is of paramount importance. QuickBooks automatically enters today's date when you open the Receive Payments form. Make sure the date on which the payment was actually received appears on this form.

Enter the customer's name. Enter the amount received.

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Click the invoice Show Me QuickBooks® 2004

to which you want to apply a discount.

ByGail Perry

Click here to open the Discount and Credits window. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Confirm the discount amount as computed by QuickBooks, and make any necessary changes. Verify the account to which the discount will be charged. Click Done. Check off the invoice(s) being paid. Save the customer payment screen.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Viewing Unpaid Invoices How much is owed to your company and who owes it? This information is readily available on the Open Invoices report. This report shows the detail of all amounts due from every customer and job. Information on this report is grouped by customer and job. •

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Show Me QuickBooks® 2004

View Unpaid Invoices ByGail Perry

Select Publisher: Que

Customers & Receivables from the Reports menu, and then choose Open Invoices. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages:Click 320

the down arrow to select a different method of sorting the report.

Click Print to print a paper copy of the report. Show Me QuickBooks Double-clickhelps any amount readers to learn seevisually the actual how invoice. to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenPress Esc to close the report. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating a Collection Letter Of course you can open your word processing program and write an extemporaneous letter to the customer who owes you money. Or you can save time and use a standard form letter that is available to send to any customers who owe you money, any time. Before printing the • Table of Contents letters, you have the capability to customize the letters and add personal information if • necessary. Index Show Me QuickBooks® 2004 ByGail Perry

Create a Collection Letter Publisher: Que Pub Date: February 19, 2004

Select Write Letters from the Company menu.

ISBN: 0-7897-3078-2 Pages: 320

Select the type of letter you want to create. For this example, a collection letter is selected. Click Next. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Select visually from with thethis various user-friendly options to method determine of training. who willEach receive taskthis includes letter.a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click Next. The list that appears here is the result of the selections you made in step 4. Check off all members of the list who will receive the letter. Click Next.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Select from a variety of available letters. If you are creating a letter from scratch, you won't see this screen. Instead, you will see a Microsoft Word document where you can create your own custom letter. Click Next. Enter the name and title of the person who will sign the letters. Check the box if you want to be advised of missing information on your mailing list, such as a missing mailing address or ZIP Code. Click Create Letters button. A Microsoft Word document containing all the letters will open. Scroll through the letters to make sure they read the way you want them to. If necessary, you can add information to any letter. Select File, Print from the Word menu.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Recording Bad Debts If your company keeps records on an accrual basis, you've already recorded income when a job is completed and invoice, even though you haven't yet received the payment from your customer. So when you discover that the customer isn't going to pay, you need to offset the • Table of Contents income you recorded with a bad debt expense. •

Index

Show Me QuickBooks® 2004

Record Bad Debts ByGail Perry

Publisher: Que

Select Receive Pub Date: February 19, 2004Payments

from the Customers menu.

ISBN: 0-7897-3078-2 Pages:Enter 320

the name of the customer and job, if applicable, for whom you will record a

bad debt. Leave the amount set to zero. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software to place for a small checkmark businesses. to theThey left are of an able uncollectible to find answers invoice. to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Click OK in the warning box. tasks quick and simple. Click the Set Discount button. Enter as a discount the amount of the uncollectible debt.

Did You Know? You enter bad debts as positive numbers. Even though you are reducing the amount owed by the customer, enter the amount as a positive number. QuickBooks will reduce the amount due by the number you enter.

Change the discount account to the account where you record bad debt expenses. Click the Done button. Save the Receive Payments window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 5. Making Purchases and Recording Payments • What You'llTable Do of Contents •

Index

SetQuickBooks® Purchases 2004 and Vendors Show Me

Preferences

ByGail Perry

Use Purchase Orders

Publisher: Que View Items

on Purchase Orders

Pub Date: February 19, 2004

View Information ISBN:Vendor 0-7897-3078-2 Pages: 320

Receive Goods Pay Bills Take Discounts Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Set Checking Preferences accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenWritevisual Checks by-screen accompanied by a concise text description that makes performing everyday tasks quick and simple. Print Checks Use the Check Register Create Purchase Reports

Introduction Nearly every business engages in spending of some sort. Businesses purchase inventory items, pay rent, buy supplies, clean their premises, pay employees, purchase equipment; the list goes on and on. The tasks described in this chapter will assist you in keeping track of • Table ofand Contents your expenditures knowing how much it costs to run your business. Besides knowing how • Index it's important to know how much you owe and when your payments are much you spend, Show Me QuickBooks® 2004 due. You can have all this information at your fingertips when you track your expenses using QuickBooks. By Gail Perry QuickBooks provides an option to use purchase order forms to record the items you have Publisher: Que ordered so you can predict what bills are pending. Using purchase orders also enables you to Pub Date: February 19, 2004 keep track of what is on order so you don't reorder the same items. In QuickBooks, purchase ISBN: 0-7897-3078-2 order information flows directly to bills as soon as you receive the items you ordered. This Pages: 320 have to enter your purchase information twice. And if there are discounts way you don't available for early payment, QuickBooks calculates those for you. You can save time by using QuickBooks to print your checks, and you can produce a variety of reports that show you how much your company is spending and what you are purchasing. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Purchases and Vendors Preferences Before you use the purchases and payments features of QuickBooks, you need to set some preferences to establish how the program will function. Some of these preferences might have been set when you used the EasyStep Interview, but it's worthwhile to examine the • of Contents preferences Table that are in place and make sure you are taking advantage of all QuickBooks has • Index to offer in this area. Determine whether you plan to use the QuickBooks inventory and Show Me QuickBooks® 2004 consider having QuickBooks give you a reminder in advance of bills purchase order features, payment By Gail Perrydue dates, and advise QuickBooks as to whether you normally take advantage of early payment discounts available from your vendors. Publisher: Que Pub Date: February 19, 2004

Set Purchase Orders and Inventory Preferences ISBN: 0-7897-3078-2 Pages: 320

Open the Preferences window by selecting Preferences from the Edit menu. Click the Purchases & Vendors icon. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software for small Preferences businesses.tab. They are able to find answers to their questions the Company quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick If and you simple. plan to use the inventory or purchase orders features in QuickBooks, check the Inventory And Purchase Orders Are Active box. Check the inventory warning box if you want to receive a warning message when you try to issue an invoice for items not in your inventory. Check the purchase order warning box if you want to be warned that you are about to use a duplicate purchase order number.

Set Bills Preferences Fill in the blank to indicate how many days after receiving a bill the bill is due.

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Did You Know?

Show Me QuickBooks® 2004 ByGail Perry

QuickBooks assumes bills are due in 10 days. Because some vendors offerQue a discount for bills paid within 10 days, QuickBooks sets the bill due Publisher: date at 10 days and adds the bill to your reminder list at that time. If you Pub Date: February 19, 2004 typically pay bills in 30 days, enter 30 here, or whatever timeframe is ISBN: 0-7897-3078-2 standard for your company. Pages: 320

Check the warning box if you want to be told you have received a bill with a duplicate number. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading the box if youbusinesses. typically take advantage andto credits. accountingCheck software for small They are able of to discounts find answers their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen If visual accompanied by a concise text description thatenter makes everyday you check the discounts and credits box, you must anperforming account that will be tasks quick andwith simple. credited your discounts and credits.

Using Purchase Orders The purchase order feature of QuickBooks is optional, but if you like to plan ahead, using purchase orders is a good idea. As soon as you enter a purchase order in QuickBooks, the process of tracking your company's spending begins. You can see at a glance what is on • Table of Contents order and how much money is committed. Purchase orders make bill paying easier because • Indexon the order flows right on to the bill. Give purchase orders a try and see the information Show Me QuickBooks® 2004to the relevance of your company's record keeping in QuickBooks. whether they don't add ByGail Perry Publisher: Que Use Purchases Orders Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Open a new purchase order by selecting Vendors, Create Purchase Orders from the menu.

Pages: 320

Click the drop-down arrow to choose a vendor from the existing vendor list. The vendor's name and address appear in the Vendor area below. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know?

You can enter a new vendor on-the-fly. If the vendor for this purchase order is not on the list, just enter the new vendor's name in the Vendor field and you can add the name to your Vendor list.

If the goods are to be shipped to a location other than your company, enter the shipping location. If the address has changed for this vendor, enter the corrected information in the Vendor area of the form. You can make this change permanent if you want. Verify the date and purchase order number; revise if necessary.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Order Items on a Purchase Order Enter the name of the item you plan to order. A description and price will fill in if this information has been saved previously.

See Also See "Adding Items in the List Window" on page 59 for information on setting up inventory items.

Enter the number of items you want to order. Verify the price that appears, or enter a price if no price appears. Leave the price field blank if you are uncertain. If this order is for a specific customer, you can enter the customer's name. Enter an optional message that will appear on this purchase order. Check the box to add this form to your print queue for printing later. Check the box to email this form to the vendor.

Select a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Viewing Items on Purchase Orders You can prepare a report showing all outstanding purchase orders so you can easily see which items have been ordered and have yet to be received. Then it's a simple matter to view an individual purchase order. You can change the order if necessary, or indicate that all or • Contents some of the Table itemsofhave been received. After items are received, they are removed from the • Index purchase order and added to your company's accounts payable, ready for your payment. Show Me QuickBooks® 2004 ByGail Perry

View Items on Order Publisher: Que Pub Date: February 19, 2004

Open the Purchase Orders List by selecting Vendors, Purchase Orders List from the ISBN: 0-7897-3078-2 menu.

Pages: 320

View all outstanding orders. Double-click any order on the Purchase Orders List to view the actual order. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Press visually Esc to with close thisa user-friendly purchase order method you are of training. viewing. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click the Reports button to view a menu of reports relating to purchases. Choose from reports based on purchases or vendors. Select a report to view. Change the date at the top to see items on order as of a specific date or for a particular time period. Scroll through the report to see all items on order.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Viewing Vendor Information QuickBooks provides a one-stop window where you can view all the transactions currently active with a particular vendor. You can see outstanding bills, outstanding orders, payments issued, contact information, credit limit, and account number. You can order activities from • Table of this screen, such asContents recording the receipt of items and bills, payment of bills, and preparation • of reports. Index Show Me QuickBooks® 2004 ByGail Perry

View Vendor Information Publisher: Que Pub Date: February 19, 2004

Click the Vendors option on the Navigator menu, and then click the Vendor Detail ISBN: 0-7897-3078-2 Center on the window that appears. Alternatively, you can select Vendors, Vendor Pages: 320 Detail Center from the top menu.

Select a vendor. View the vendor list by clicking the arrow and choosing the dropdown arrow. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingSelect software for smallyou businesses. Theyby are able tothe find answers questions information want to view clicking arrow nextto totheir the Show option. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick View andan simple. original form by double-clicking the form name. Pick an activity by clicking the Activities arrow.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Receiving Goods When you receive items you ordered, those items need to be added to your inventory. Other goods you order, such as supplies, also need to be acknowledged in QuickBooks so that the outstanding purchase order can be closed and the payment process can begin. You can check • Table of Contents the goods you ordered against the purchase order, or you can enter a bill directly into • Index QuickBooks without the step of the purchase order. Show Me QuickBooks® 2004 ByGail Perry

Receive Goods Publisher: Que Pub Date: February 19, 2004

Select Receive Items from the Vendor menu, or from the Activities menu in the ISBN: 0-7897-3078-2 Vendor Detail Center.

Pages: 320

Click the down arrow or begin entering a vendor name in the Vendor area of the Create Item Receipts window. Show Me QuickBooks helps readers to perform using to thereceive leadingitems If an open purchase orderlearn existsvisually for thishow vendor, you aretasks prompted accounting software for small businesses. They are able to find answers to their questions against a purchase order. Click Yes to see open orders. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Check and simple. the order or orders that apply to the goods you received. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Check the box if a bill was received with the shipment. The form name changes to an Enter Bills form. Verify the bill's due date. If you haven't transferred information from a purchase order, enter information about items received and price. Verify the quantity of items received. Verify the total amount due on the bill. Click here if you need to view the purchase order. Select a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Purchases orders are automatically adjusted. If you receive items against a purchase order, the purchase order is adjusted to reflect items received. If the entire order is not received, the purchase order is adjusted to show the remaining items still on order.

Paying Bills Receiving merchandise and recording bills that are due solves the problem of getting the information about your purchases into QuickBooks. The next step is to pay for your company's expenditures. You probably have a plan in place for paying bills. Maybe you write • Table Contents checks weekly or of twice a month. Whenever you're ready to make payments, you'll find the • Index bill-paying features of QuickBooks easy to master. Show Me QuickBooks® 2004 ByGail Perry

Pay Bills Publisher: Que Pub Date: February 19, 2004

Select Pay Bills from the Vendors menu.

ISBN: 0-7897-3078-2 Pages: 320

Set the due date for bills you want to view, or click Show All Bills to show all outstanding bills. Check off all bills you intend to pay. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Verify visually the with payment this user-friendly amount for each method bill and of training. change if Each necessary. task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You don't have to pay 100% of the bill amount. If you change the amount of payment on a bill to less than 100% of the amount due, the bill remains in your payables system with the remaining amount still due.

Verify the bank account upon which checks are drawn. Indicate the date on which checks are written. Click one of the pay buttons to complete the bill payment.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Taking Discounts When you pay your bills early, you might be entitled to take a discount offered by your vendor. Check the terms of the bill you received to see whether there is an option for a discount. Terms such as "2% 10 Net 30" provide for a 2% discount if the bill is paid within 10 • of Contents days. Some Table companies also offer a discount if the entire balance is paid in full within 30 days • Index as opposed to financing over a longer period of time. When you enter your bill in QuickBooks, Show Me QuickBooks® you can describe the2004 discount terms, and then you can apply the discount right in QuickBooks. The discount is calculated automatically, and you can override the calculation if By Gail Perry necessary. Publisher: Que Pub Date: February 19, 2004

Take ISBN: Discounts 0-7897-3078-2 Pages: 320

Open the Pay Bills window. Click the Show All Bills option. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know?

Bills still in the discount period might not appear on the unpaid bills list. If a vendor offers a discount for early payment, and the bill is technically not due yet, the bill does not appear on the list. Clicking the Show All Bills option displays all bills currently outstanding, including those not yet due.

Check off bills for payment. Click a bill with a discount date, and then click the Set Discount button. You will see the discount has been calculated. Verify that the amount is correct and make any necessary changes. Enter an account in which the discount will be recorded. Click Done to return to the Pay Bill window. Complete the bill payment process.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Checking Preferences If you write checks in QuickBooks, you can set certain preferences so that the checks are created to your specifications. For example, you can control which cash account is used for certain types of checks, and you can indicate whether you want your account information to • Tablecheck of Contents appear on your voucher. You can have QuickBooks change the date on your checks to • Index match the date on which they are actually printed instead of the date on which they are Show Me QuickBooks® 2004 created. You can also require QuickBooks to warn you if duplicate check numbers are about toGail be Perry used, and you can request that certain payee information be included on the check. By Publisher: Que

SetPubChecking Preferences Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Select Edit, Preferences to open the Preferences window. Click the Checking icon on the left.

Click the My Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingIndicate software for small are able to find answers their questions which bankbusinesses. account willThey be used for each type of formto listed. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? QuickBooks makes its own selection if you don't specify a bank. If you leave the bank account options blank, QuickBooks chooses an account based on the account you used the last time you opened one of these forms. You can always override the bank account information on a form if necessary.

Click the Company Preferences tab to see the company-wide options.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Choose visual accompanied the first option by to a concise display text the name description of your that company makes account performing on check everyday tasks quick stubs.and simple. Leave this box unchecked to have QuickBooks print checks using the date on the check form. Check the box to have QuickBooks use the date on which the check is printed. Check here to force QuickBooks to position your cursor in the payee field on checks. Checking this box enables QuickBooks to provide you with a warning when you are about to issue a check with a duplicate number. When this feature is on, QuickBooks will fill in the account number of any vendor or customer you enter on a form. Indicate which account is to be used for payroll and payroll tax liabilities.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Did quick You and Know? tasks simple. Only the administrator can make company-wide changes. If your QuickBooks program is set up for multiple users, only a user with administrative rights can make changes on the Company Preferences tab in the Preferences window.

Writing Checks When you pay a bill in QuickBooks, the program issues a check for that payment. Whether you actually print checks using your QuickBooks program, or simply enter payments you've made into the program, you need to familiarize yourself with the QuickBooks check-writing • of Contents feature. You Table can write checks for obligations that don't have accompanying bills, such as your • Index rent. Or maybe when you write hand-written checks that need to be entered into QuickBooks. Show Me QuickBooks® 2004 The best way to enter these payments into your QuickBooks program is through the Write Checks feature. By Gail Perry Publisher: Que

Write Checks Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Select Banking, Write Checks from the menu, or press Ctrl+W. Verify the account on which this check will be written.

Show Me QuickBooks helps readers Enter the payee's name. learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied byall a concise textAdescription that appear makes performing everyday IMPORTANT Respond to warnings. warning might when you enter a tasks quick payee.and Thesimple. type of warning depends on the circumstances. For example, you might be told you have outstanding bills from this vendor. Read the warning, decide how you will respond, and then click OK to clear the warning from your screen. Enter the check amount.

Verify the date and check number, if applicable. Enter the expenses, the amount, and an optional memo.

If you are purchasing inventory, click the Items tab. Enter the items, the quantity, and the cost. Indicate whether this is to be an online payment. •

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Show Me QuickBooks® 2004

See Also

ByGail Perry

Publisher: Que See "Making

Online Payments " on page 195 for information on making Internet.

Pub Date: Februaryover 19, 2004 payments the ISBN: 0-7897-3078-2 Pages: 320

Check the box if this check is to be placed in the print queue. Record the check by selecting a save option. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Printing Checks When you write checks in QuickBooks, you indicate whether you want to print the check immediately (by choosing the Print option at the top of the window), print it at some future date (by checking the To Be Printed box), or not print it at all. When you choose to print • Contents checks later,Table you of can choose to print the entire batch of outstanding checks, or you can pick • the ones youIndex want to print and save the others until later. Show Me QuickBooks® 2004 ByGail Perry

Print Checks Publisher: Que Pub Date: February 19, 2004

Select File, Print Forms, Checks from the menu.

ISBN: 0-7897-3078-2 Pages: 320

Verify the bank account. Verify the first check number for this batch of checks. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingCheck software off all forchecks small businesses. that are to be They written. are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday IMPORTANT Place the check forms in printer. Before continuing, be sure to place tasks quick and simple. your actual check forms in the printer. Click OK. Verify the printer settings. Select the check style that matches your actual checks. Indicate whether you want your company name, address, and logo printed on the checks. Click Print to send the checks to the printer.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using the Check Register The check register displays all the transactions that affect the cash account. There is a separate check register in QuickBooks for each cash account (and also all your other balance sheet accounts, except Retained Earnings). Every time you make a payment or record a • of Contents deposit, the Table transaction is automatically recorded in your check register. You can view the • transactionsIndex that have been recorded in the register, you can make entries directly into the Show Me QuickBooks® 2004 register, and you can choose a transaction and go directly to the originating form. ByGail Perry Publisher: Que Use the Check Register Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Press Ctrl+A to open the Chart of Accounts.

Pages: 320

Double-click your checking account to open the register. Scroll to view existing transactions. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Double-click visually with any this transaction user-friendly (except method in the of Number training.field) Each to task view includes the original a screenform by-screen and make visual corrections accompanied if necessary. by a concise text description that makes performing everyday tasks quick and simple. Click a transaction, and then click the QuickReport button to obtain a report showing all transactions for the selected payee. Choose from a variety of sort options. Enter a transactions right in this register by filling in each appropriate field, and then clicking the Record button. Click the Go To option to search for a transaction in this register. Right-click a transaction, and then choose Void to void the transaction. Press Esc to close the window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Voiding Checks" on page 179 for information on voiding transactions in QuickBooks.

Creating Purchase Reports QuickBooks provides a variety of reports that enable you to see how much you've spent, what you've spent your money on, and which items are on order from which vendors. You can request reports grouped by vendors, items, or jobs. You can also view summary reports that • of Contents provide totalTable amounts, or you can request detailed reports that show every item and every • transaction. Index You can view the reports on-screen, or choose to print paper copies of the Show Me QuickBooks® 2004 reports. ByGail Perry Publisher: Que Create Purchase Reports Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Vendor List from the Lists menu.

Pages: 320

Click the Reports button in the Vendor List window. Select Reports on All Vendors. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Select visually from with a variety this user-friendly of report types. method Profit of training. & Loss reports Each task showincludes your expenses a screenby-screen arranged visualby accompanied vendor. Accounts by a concise Payabletext reports description show how thatmuch makes money performing you owe. everyday For tasks quick this example, and simple. Purchase reports have been chosen. The side menu shows which reports are available in the type you chose.

Chapter 6. Collecting and Paying Sales Tax • What You'llTable Do of Contents •

Index

SetQuickBooks® Sales Tax Preferences Show Me 2004 ByGail Perry

Create a Sales Tax Item

Publisher: Que Charge Sales

Tax to a Customer

Pub Date: February 19, 2004

Sell Tax Exempt Items ISBN: 0-7897-3078-2 Pages: 320

Sell Items to Tax Exempt Customers Produce Monthly Sales Tax Reports Pay Sales Tax Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Take asoftware Discountfor forsmall Earlybusinesses. Payment They are able to find answers to their questions accounting quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction If you sell items at retail and the items you sell qualify for sales tax, you are expected to collect sales tax from your customers at the time of the sale and remit that tax to the government on a timely basis. •

Table of Contents

• Index Because sales tax appears as a separate item on your invoice forms, you must set up a Sales Show Me QuickBooks® 2004 to accommodate the presence of the tax on forms. After you've set Tax Item in QuickBooks upGail anPerry item, the tax flows onto your sales forms so you can charge your customers for the tax. By

In some states, various goods are exempt from sales tax. New Jersey, for example, doesn't tax Publisher: the saleQue of clothing. Illinois doesn't tax the sale of newspapers and magazines. Pub Date: February 19,you 2004 QuickBooks enables to specify which items you sell are subject to the tax and which are not. ISBN: 0-7897-3078-2 Pages: 320

Some customers are exempt from sales tax. For those customers, QuickBooks gives you an option of exempting the customers or particular sales from sales tax. After you've collected tax, you are required to remit the tax to your state or local government. QuickBooks provides you with a form that summarizes your tax collections. You Show Methis QuickBooks helps readers learntax, visually how to perform tasks using the leading can use form to calculate your sales and then you can make your payment. You can accounting software for small businesses. They are able to find answers to their questions also take advantage of opportunities for early payment discount if your tax collection agency quickly and visually with this user-friendly method of training. Each task includes a screenallows such a discount. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Sales Tax Preferences Before you can apply sales tax on your sales to customers, you must establish some preliminary information about your sales tax requirements. In the Preferences window, you indicate when tax is charged to your customers, the frequency with which you pay sales tax • Table of Contents to the government, and the name of the taxing jurisdiction to whom you pay tax. You can • also indicateIndex whether you want taxable items to be tagged on invoices. Show Me QuickBooks® 2004 ByGail Perry

Set Sales Tax Preferences Publisher: Que Pub Date: February 19, 2004

Select Edit, Preferences to open the Preferences window.

ISBN: 0-7897-3078-2 Pages: 320

Click the Sales Tax icon. Click the Company Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingSelect software Yes for to indicate small businesses. that your company They are charges able to find sales answers tax. to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Indicate the terms you want to use to refer to taxable and non-taxable sales. tasks quick and simple. Indicate the name of the sales tax item you most frequently charge to customers. Check this box if you want a T to appear on sales forms to identify taxable items. Indicate when customers actually owe sales tax. Show the frequency of your sales tax remittances. Click OK to save your changes.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Did You Know tasks quick and simple. Tax can be owed at the time of sale or at the time of payment. If your company's financial records are kept on the accrual basis, tax is owed at the time of sale and you remit the tax to the government when you file your sales tax return, whether or not the customer has paid the bill. If your records are kept on the cash basis, the sales tax is not owed by the customer, nor do you owe it to the government, until you collect the money from the customer.

Creating a Sales Tax Item Remember, items are the pieces of information listed on sales and purchase forms, such as the goods you purchase. Sales tax is an item too, because it occupies a line on your sales forms. Before you can charge a customer sales tax, you have to set up the Sales Tax item, • Table of Contents indicating the name of the tax, the taxing authority that ultimately receives the tax payment, • and the rateIndex at which tax is calculated. After all this is set up, charging sales tax becomes Show Me QuickBooks® 2004 automatic. ByGail Perry Publisher: Create a Que Sales Tax Item Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Open the New Item window by selecting Lists, Item List, and then pressing Ctrl+N.

Pages: 320

Select Sales Tax Item as the item type. Give your sales tax a name. "Sales Tax" is fine if there is only one tax and only one Show rate. Me QuickBooks how to perform tasksoffices, using the leading If you pay helps tax atreaders multiplelearn ratesvisually or to different government choose a name accounting software for small businesses. They are able to find answers to their questions that distinguishes this tax from the others. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Enter and a simple. description of the tax and, if applicable, to what it applies. Enter the rate for this tax. Select the name of the agency to which you pay the tax. This agency is added to your vendor list. If the tax agency does not appear on the list, select Add New to enter the agency name. Click OK to save your changes.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Adding Vendors" on page 57 for information on entering detailed information about new vendors.

Did You Know You can create a separate item for each sales tax you pay. If you pay tax to more than one taxing authority, create a separate item for each rate and each tax agency. When you charge a customer on an invoice, just select the proper tax item. QuickBooks will calculate the right amount and create a tax payable entry to the proper government authority. You can Quick Add your sales tax agency to your vendor list. When you enter the name of your sales tax agency not previously entered, you are asked if you want to Quick Add this name to the Vendor List or set up the vendor. Selecting Quick Add puts just the agency name on your Vendor List. You can edit the vendor later to enter address, phone number, and other pertinent information.

Charging Sales Tax to Customers QuickBooks calculates sales tax based on the rate you entered. All items on an invoice that are subject to tax are added together and the tax rate is applied. Items that have been designated as non-taxable are exempted from the tax calculation. All you have to do is • Table Contents indicate which taxofrate to use and QuickBooks does the rest. If you charge the same tax rate • Index on everything you sell, the process of charging sales tax is easier still. Show Me QuickBooks® 2004 ByGail Perry

Charge Sales Tax to a Customer Publisher: Que Pub Date: February 19, 2004

Open an invoice (press Ctrl+I).

ISBN: 0-7897-3078-2 Pages: 320

Enter the customer name and the item(s) you plan to sell. Select the correct tax. If you pay tax at only one rate and to only one government office, only one tax will be listed here. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can create a new sales tax item on-the-fly. On an invoice form, click the down arrow in the Sales Tax area and select Add New to enter a new sales tax item.

Save the invoice.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Selling Tax Exempt Items If your state's tax law allows you to exempt certain items from the sales tax calculation, you can make this exemption automatic when you set up the non-taxable items. Each state has different rules about what is and isn't taxable. Find out the rules for your state, and then set • Table of Contents up your items accordingly. •

Index

Show Me QuickBooks® 2004

Sell Tax Exempt Items ByGail Perry

Publisher: Que

Open the19, Item Pub Date: February 2004list

by selecting Lists, Item List from the menu.

ISBN: 0-7897-3078-2 Pages:Double-click 320

the item that you want to make tax exempt. The Edit Item window

appears. Change the tax code to Non to indicate that this is a non-taxable item. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software OK. for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Selling Items to Tax Exempt Customers Some customers are exempt from paying sales tax. They will tell you who they are. You need to acquire a tax-exempt number from the exempt customers, and QuickBooks gives you a place where you can enter this number. Then when you issue an invoice to that customer, tax • Table of Contents is not charged. You don't have to make any changes on the invoice because the process of • Index not taxing particular customers becomes automatic. Show Me QuickBooks® 2004 ByGail Perry

Sell Items to Tax Exempt Customers Publisher: Que Pub Date: February 19, 2004

Select Customer:Job List from the Lists menu.

ISBN: 0-7897-3078-2 Pages: 320

Double-click the name of the customer not subject to sales tax, or press Ctrl+E to open the Edit Customer window. Click the Additional Info tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Change visually the with taxthis code user-friendly to Non for non-taxable method of training. status. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. If applicable, enter the customer's resale number. Click OK to save your changes.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? The Job Info tab might not appear in your Edit Customer window. The Job Info tab appears in the Edit Customer window only when there are no specific jobs set up for the particular customer. If you have added individual jobs for this customer, the Job Info tab appears in the Edit Job window for each job. In this situation, there is no need for a Job Info tab to appear in the main customer window.

Producing Monthly Sales Tax Reports Every state has a different form that accompanies sales tax payments. Although QuickBooks does not prepare the sales tax form for each state, the program does provide a sales tax report. This report helps you fill out the sales tax form for the state or states to which you • Table of Contents must make payments. •

Index

Show Me QuickBooks® 2004

Produce Monthly Sales Tax Reports ByGail Perry

Publisher: Que

Open the19, Vendors Pub Date: February 2004

menu and select Sales Tax.

ISBN: 0-7897-3078-2 Pages:Select 320

Sales Tax Liability from the submenu.

Change the dates to reflect the time period that is covered by your current sales tax bill. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick simple. Didand You Know? The sales tax report is comprehensive. The report contains the total sales for the time period, the amount of taxable sales, the amount of nontaxable sales, the tax rate for each type of sales tax you pay, and the amount of tax currently owed to each jurisdiction to whom you pay tax. You can transfer this information directly to the necessary tax form.

Click the Print button to print the report. Close the report.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Paying Sales Tax When it's time for you to pay your sales tax, open the Pay Sales Tax window. From there, you can issue checks for sales tax payments and relieve your sales tax liability at the same time. By using the QuickBooks sales tax payment process, all accounts are charged properly. At • Contents the information in this window if you want to know the status of any time youTable canof examine • Index your sales tax payable. Show Me QuickBooks® 2004 ByGail Perry

Pay Sales Tax Publisher: Que Pub Date: February 19, 2004

Open the Vendors menu and select Sales Tax.

ISBN: 0-7897-3078-2 Pages: 320

Select Pay Sales Tax from the submenu. Verify that the bank account is correct. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingVerify software the date for small that businesses. will appear on They theare check. able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Verify the date on which sales tax is due. tasks quick and simple. Click to check each sales tax item you want to pay. Check the To Be Printed box if you plan to use QuickBooks to print this check. Click OK to execute the payment.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Tax amounts are cleared from the Pay Sales Tax list. When you click OK to pay these amounts, the amounts are removed from the list. The next time you open this list, any amounts you paid no longer appear there.

Taking a Discount for Early Payment If you pay your sales tax early or on time, you might have an opportunity to take a discount for the timely payment. If you simply reduce the amount you pay in QuickBooks, it will look like you didn't pay the entire bill and you'll still carry a liability on the books. Instead, you • of Contents can account Table for the discount separately. You can enter the discount in your company records, • Index which reduces the amount due, and then when you're ready to pay the tax, the correct Show Me QuickBooks® amount appears. 2004 ByGail Perry Publisher: Que Take a Discount for Early Payment Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Open the Chart of Accounts by pressing Ctrl+A.

Pages: 320

Double-click the Sales Tax Payable account to open the register associated with this account. Show Me QuickBooks helps readers learn visually how to perform using the leading In the transaction at the bottom of the register, change tasks the date if necessary to the accounting software for small businesses. They are able to find answers to their questions date the discount is issued, or leave today's date in place. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Inand the simple. Vendor area, enter the name of the government agency to which you pay the sales tax. In the Paid area, enter the amount of the discount. In the Account area, enter the account where you want to record the discount. Enter an optional memo describing the discount or the month to which the discount applies. Click Record to save the transaction.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can record discounts in a separate account. Your company might have a specific account where discounts are recorded, or you might have to establish a new account that you can call Discounts Taken, or simply Other Income.

Chapter 7. Using Timesaving Features What You'll Do • •

Memorize a Transaction Table of Contents Index

Memorize a Group of Transactions

Show Me QuickBooks® 2004 ByGail Use Perrya

Memorized Transaction

Schedule a Recurring Transaction

Publisher: Que

Pub Date: February 19, 2004

Change Memorized and Scheduled Transactions ISBN: 0-7897-3078-2

Remove Pages: 320Memorized Transactions Set Reminders Preferences Use Reminders Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction Simplify your life by memorizing transactions in QuickBooks. A memorized transaction is a transaction to which you assign a name, such as a report you have prepared, a check you have written, or a form that you have filled in. Then, you can recall and repeat the • Table of Contents transaction without reconstructing it. When you take the time to create a form or a report • Index that you plan to use again, using the memorization feature to recall the transaction saves you Show Me QuickBooks® 2004 the time of having to create the transaction again. The memorization feature also enables you create forms that other QuickBooks users at your company can access. By Gailto Perry If several transactions go together and are used repeatedly, you can memorize all the Publisher: Que transactions as a group, and then execute them all together. Pub Date: February 19, 2004

0-7897-3078-2 Do youISBN: want to take this simplification technique one step further? Set up your memorized transactions Pages: 320 to be recurring transactions and QuickBooks will do the work for you. With recurring transactions you can have a reminder sent to yourself letting you know it's time to execute a transaction, or you can have QuickBooks perform the whole transaction for you. How easy is that? QuickBooks can send invoices automatically, issue purchase orders, and even pay bills.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Memorizing Transactions In QuickBooks, you can memorize any transaction you want. Wait until you see how much time you save when you use this feature. You can memorize transactions that you re-use frequently, or memorize a transaction that you might not use often but that is time • Table of Contentsto create. Here's an example of a purchase order for several items consuming or complicated • Index you order frequently. Consider creating a purchase order for all the items you order from a Show QuickBooks® singleMe vendor. Then,2004 when it's time to place an order, you just open the memorized transaction By Gail Perry and fill in the quantities. Publisher: Que

Memorize a Transaction Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Select Vendors, Create Purchase Orders to open the Purchase Order window. Enter the Vendor name.

Show Me QuickBooks helps readers learn visually from how to perform using leading Enter the items you normally purchase this vendor,tasks leaving thethe quantities accounting software for small businesses. They are able to find answers to their questions blank. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Press and Ctrl+M simple. to begin the memorization process. Enter a unique name for this transaction. Select Don't Remind Me. Click OK. Continue using the Purchase Order form if you like. Or, press Esc and select No to close the form without creating an actual purchase order.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can close the transaction without saving it. After you've memorized your transaction, you don't need to continue using the form, nor do you need to save it. The form in this example was just used as a basic design for the transaction you memorized.

Memorizing a Group of Transactions If you frequently perform the same transactions together, why not memorize them as a group and execute the whole group at once! For example, you might have several fixed monthly expenses that are due at the same time, such as rent, security service, insurance, • Table of Contents loan payment, and so on. You can save all these expenses as a group called "Monthly • Index Expenses," and then issue one order. The entire group of transactions will then be executed Show Me QuickBooks® 2004 at once. ByGail Perry Publisher: Quea Group Memorize Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Create a memorized transaction, as shown in "Memorizing Transactions" previously in this chapter.

Pages: 320

Press Ctrl+T to open the Memorized Transaction list. Show Me QuickBooks helps readers learn visually perform Click the Memorized Transaction button,how andto then selecttasks New using Group.the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Enter visualaaccompanied unique nameby forayour concise memorized text description group. that makes performing everyday tasks quick and simple. Choose whether you want QuickBooks to issue a reminder when the group is due. If you ask for a reminder, indicate how frequently you want to be reminded of this group of transactions. If you ask for a reminder, indicate the next date on which you want to be reminded. Click OK to establish your new group.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Memorized groups appear in bold. The memorized groups stand out on your Memorized Transaction list because they appear in bold. The word Group also appears in the Type column.

Add a Transaction to the Group With the Memorized Transaction list still open, click once on the memorized transaction that you want to add to the group. Click the Memorized Transaction button at the bottom of the list and choose Edit (or press Ctrl+E). Click the With Transactions in Group option. Choose the name of the group to which this transaction is to be added. Click OK to save the group assignment you have made for this transaction.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Memorized groups appear together in the Memorized Transaction list. You'll see all the members of a group listed beneath the group heading on your Memorized Transaction list.

Using Memorized Transactions Okay, you've memorized some transactions, now what? You can take advantage of your memorized transactions by remembering to use them when you want to save time. Any time you want to use a memorized transaction, just open the list of memorized transactions, • Table of Contents choose the transaction, and use it as you do any other QuickBooks form. •

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Show Me QuickBooks® 2004

Use a Memorized Transaction ByGail Perry

Publisher: Que

Press Ctrl+T to open Pub Date: February 19, 2004

the Memorized Transaction list.

ISBN: 0-7897-3078-2 Pages:Double-click 320

a memorized transaction that you want to use. The original form will

appear. Now use the form as you use any QuickBooks form, making any necessary adjustments. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Select visually a save withoption this user-friendly to finalize the method transaction. of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Memorized transactions aren't written in stone. You can open a memorized transaction, and then make changes to the information that appears before you transaction. • execute theTable of Contents •

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que See Also

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

See "Using Reminders" on page 140 later in this chapter for tips on having Pages: 320 QuickBooks remind you that it's time to use one of your memorized transactions.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting Did Yousoftware Know?for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday You can quickly execute the transactions for an entire memorized group. tasks quick and simple. Double-click the name of the group in the Memorized Transaction list to access the Using Group window. Enter the date on which you want the transactions in the group to be executed, and then click OK. All the transactions in the group will be executed at once.

Scheduling Recurring Transactions The next level of convenience after having QuickBooks memorize a transaction for you is to have QuickBooks take care of executing the transaction too. After you get the hang of this procedure, you can let QuickBooks do all your work! (Just kidding.) Seriously, it's nice not to • Table of Contents have to worry about paying the rent on time—ask for a friendly reminder or just let your • program do Index your chores automatically. This example sets up your monthly rent or mortgage Show Me QuickBooks® 2004transaction. payment as a recurring ByGail Perry Publisher: Create a Que Recurring Transaction Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Open the transaction window. For this example, press Ctrl+W to open the checkwriting window.

Pages: 320

Enter the name of the vendor or payee, in this case your landlord or mortgage company. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software for small They are able to find answers to their questions the amount ofbusinesses. the payment. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Enter and the simple. account to which the payment will be charged. Indicate whether this check is to be printed or if the payment is to be made online. Press Ctrl+M to memorize the transaction. Select Automatically Enter.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can turn an already-memorized transaction into a recurring transaction. Just open the memorized transaction, and then press Ctrl+M and choose Automatically Enter. Proceed with the next steps.

See Also A monthly journal entry for depreciation expense lends itself well to the scheduled transaction feature. See "Entering Depreciation" on page 253 for information on setting up a transaction for entering depreciation.

Choose Frequency of Recurrence Indicate how often you want this transaction to occur.

Show the next date when this transaction will occur. If there is a fixed number of occurrences for this transaction, for example 24 loan payments remaining, enter that number. Otherwise, leave this field blank.

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Show how many days in advance of the due date you want this transaction to be Table of Contents executed. Index

Show Me QuickBooks® 2004 ByGail Perry Click

OK.

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Add a Memorized Transaction to Your Icon Bar If you use the QuickBooks Icon Bar (displayed by choosing Icon Bar from the View menu), you might want to take advantage of this shortcut. You'll save yourself the step of opening the Memorized Transaction list and searching for your memorized transaction. Instead all you • have to do isTable clickofaContents button and the memorized transaction appears. Any report, form, or • Index as a button on your Icon Bar when you follow these simple steps. check can appear Show Me QuickBooks® 2004 ByGail Perry

Open the report, form, or check that you want to add to the Icon Bar.

Publisher: Que

Select Add ["active window"] to Icon Bar from the View menu.

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

In320 the Pages:

Add Window to Icon Bar dialog box that appears, scroll through the list at the left to choose an icon for this transaction. Click once on the icon you want to use.

Enter a label for the transaction. This is the text that appears beneath the button on the Icon Bar. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Enter a description for the transaction. This is the text thattask appears briefly when quickly and visually with this user-friendly method of training. Each includes a screenyou pass your cursor over the button on the Icon Bar. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click OK. The icon for your transaction becomes a permanent part of your Icon Bar.

Changing Memorized and Scheduled Transactions It's funny, isn't it, how some things never seem to stay the same? Rents increase, payment due dates change, companies you did business with close or are bought by other companies, and customers move on. Your memorized and scheduled transactions don't have to be • Table Contents trashed when theoffacts change. Just tweak the transaction to keep up with the times. •

Index

Show Me QuickBooks® 2004

Change Memorized Transaction ByGail Perry

Publisher: Que

Press Ctrl+T to view Pub Date: February 19, 2004

the Memorized Transaction list.

ISBN: 0-7897-3078-2 Pages:Double-click 320

a transaction to open the actual form.

Make any necessary changes to the form. Show Me QuickBooks Press Ctrl+M helps to re-memorize readers learn the visually revisedhow form. to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenClick Replace. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Change a Recurring Transaction Press Ctrl+T to view the Memorized Transaction list. Remember, all your recurring transactions are also memorized transactions. Click once to select the transaction you want to change. Press Ctrl+E to edit the recurrence information for this transaction.

Choose a different reminder option, if necessary. Change the frequency of the recurrence, if necessary. Change the next scheduled date for this transaction, if necessary.

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Change the number Show Me QuickBooks® 2004

of transactions remaining, if necessary.

ByGail Perry

Click OK. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Removing Memorized Transactions The time might come when you no longer need a transaction you memorized. Maybe you've finished paying the monthly car payments you memorized, or maybe you've purchased a building and are through paying rent. When that time comes, you can leave the transaction • Table of Contents on your memorized transactions list as a reminder of past events, or you can clean house and • Index throw that transaction away. Show Me QuickBooks® 2004 ByGail Perry

Remove Memorized Transaction Publisher: Que Pub Date: February 19, 2004

Press Ctrl+T to open the Memorized Transaction list.

ISBN: 0-7897-3078-2 Pages: 320

Click once on the transaction you want to remove. Click the Memorized Transaction button at the bottom of the window, and then select Delete (or press Ctrl+D). Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually OK. with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Reminders Preferences QuickBooks has a feature called Reminders that helps you keep track of everything that needs to be done. You can be reminded of bills to pay, checks and other forms to print, customers who are late with their payments, money waiting to be deposited, and you can • Table ofof Contents even be reminded your brother's birthday. Use the Reminders to help organize your tasks. • Index reminders preferences, the Reminders feature will behave just the way you By setting certain Show QuickBooks® 2004 want Me it to. ByGail Perry Que SetPublisher: Personal Reminders Preferences Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Preferences from the Edit menu.

Pages: 320

Scroll through the icons on the left side of the window, and then click the Reminders icon. Show Me QuickBooks readerstab. learn visually how to perform tasks using the leading Click the Myhelps Preferences accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Choose visual accompanied whether you by want a concise to havetext reminders description displayed that makes when you performing open your everyday tasks quick company and file simple. in QuickBooks.

Set Company Reminders Preferences Click the Company Preferences tab.

Click in the Show Summary column for each type of information you want to display in your Reminders list. These items will display on a single line with a total amount.

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Click in the Show List column for each type of information for which you want the detailsTable to display in your Reminders list. These items will display with a summary and a of Contents detail of every individual item that makes up the summary. Index

Show Me QuickBooks® 2004 ByGail Perry Click

in the Don't Remind Me column for each type of information that will be excluded from your Reminders list.

Publisher: Que Pub Date: February 19, 2004

Indicate how many days in advance of the due date these items will appear in your ISBN: 0-7897-3078-2 Reminders list.

Pages: 320

Click OK.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using Reminders Paper to-do lists are so passé! Use the QuickBooks Reminders list to keep your desk space clean and your tasks organized. QuickBooks will remind you to notify your customers their invoice payments are overdue, pay your bills, print your checks and other forms, follow up on • Table of Contents unfilled purchase orders, deposit the money you've collected, execute memorized • transactions,Index and more. Show Me QuickBooks® 2004 ByGail Perry

Use Reminders Publisher: Que Pub Date: February 19, 2004

If the Reminders list does not appear, choose Company, Reminders from the menu.

ISBN: 0-7897-3078-2 Pages: 320

Double-click any summary entry (shown in bold) to see the detail that makes up that total. Click Collapse All to show only the summary information for each type of entry. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually Expand withAllthis to see user-friendly details of method all summary of training. entries.Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Double-click a detail entry to go to the original form for that entry or to execute a command associated with that entry. Click Custom View to return to the display you chose in Reminders Preferences. Press Esc or click the "X" to close the window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 8. Job Cost Estimating and Tracking • What You'llTable Do of Contents •

Index

SetQuickBooks® Jobs and Estimate Show Me 2004

Preferences

ByGail Perry

Set Up a Job

Publisher: CreateQue an

Estimate

Pub Date: February 19, 2004

Invoice Against an Estimate ISBN: 0-7897-3078-2 Pages: 320

Revise an Estimate Create a Work in Progress Report

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction If you use QuickBooks Pro, you have access to the job cost estimating feature, whereby you can create estimates for your work and track income and expenses on a job-by-job basis. In fact, this is often the one feature that causes people to choose QuickBooks Pro over the • Table of standard version ofContents QuickBooks. •

Index

Show Me QuickBooks® 2004 Anestimate is a bid or quote for a job. You create an estimate and then invoice the customer either at the completion of the job or as the job progresses. Estimates can be revised as work By Gail Perry on the job advances, and QuickBooks enables you to create more than one estimate for the same job. Publisher: Que

PubinDate: February 19, estimate 2004 Keep mind that an is not the final word on what a job will cost. Consider placing a ISBN:in 0-7897-3078-2 disclaimer the message area of the estimate form indicating that the numbers presented in the estimate Pages: 320 are based on reasonable assumptions but that you reserve the right to change the estimate prior to the completion of the job and with the approval of the customer.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Jobs and Estimate Preferences To take full advantage of the Estimates feature in QuickBooks Pro, you need to set the preferences for jobs and estimates. Here you can turn on the access to estimates and progress billing and protect yourself against accidentally issuing two estimates with the same • Table of Contents number. If you use progress billing, you might appreciate a feature that enables you to leave • zero-balanceIndex amounts from partially billed estimates off your invoices. Show Me QuickBooks® 2004 ByGail Perry

Set Jobs and Estimate Preferences Publisher: Que Pub Date: February 19, 2004

Select Preferences from the Edit menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the Jobs & Estimates icon on the left side of the Preferences window. Click the Company Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingIfsoftware you planfor to small track jobs businesses. by status, They check are to able see towhether find answers theseto status theirdescriptions questions quickly are and appropriate visually with to your this user-friendly work and make method any necessary of training. changes. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click Yes to turn on the estimates feature. Click Yes to turn on the progress invoicing feature. Check to have QuickBooks give you a warning if you attempt to issue an estimate with a number that duplicates another estimate. This option is not available if you do not choose to use estimates. Check to remove zero-balance items from invoices. This option is not available if you do not choose to use progress invoicing. Click OK to save your settings.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Job Cost Estimating The purpose for estimating is to determine the cost of a job in advance. By estimating the actual cost, as accurately as possible, you can make an intelligent bid on a job and set parameters for factors such as •

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TheQuickBooks® profit you 2004 expect Show Me

to earn on the job

ByGail Perry

How long the job will take to complete

Publisher: Que The quantity

and types of employees and subcontractors necessary to complete the

Pub work Date: February 19, 2004 ISBN: 0-7897-3078-2

What parts and supplies you are required to have on hand before the work begins Pages: 320 By preparing a detailed estimate, you can judge your company's capability to complete the job on schedule. Included in your estimate should be the following types of expenses: Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Employee labor— of employees, of skills needed, cost ofalabor, and quickly and visually with The this number user-friendly method oftypes training. Each task includes screenamount of time required to complete the job by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Subcontracted labor— The same information as with employee labor Materials— The types of materials and quantity of each, length of time required to obtain or produce materials, and cost of materials Tools— The types of tools and equipment required to perform the job and the cost of any tools or equipment not already owned by the company or subcontractors Overhead— The cost of indirect expenses such as administrative costs, facility expense, employee benefits, and wear and tear on equipment and tools

Setting Up a Job Depending on the type of business you have, you might need to track revenues and expenses on a job-by-job basis. You can track multiple jobs for the same customer and then create invoices and record your expenses as they relate to the individual jobs. Before allocating • of Contents revenue andTable expenses to a particular job, you must set up the job and identify with which • customer theIndex job is associated. Show Me QuickBooks® 2004 ByGail Perry

Enter New Job Information Publisher: Que Pub Date: February 19, 2004

Open the Customer: Job List by selecting Customer:Job List from the Lists menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the name of the customer to whom this job relates. Click the Customer:Job button; then select Add Job to open the New Job window. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software a name for small for thebusinesses. job. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Verify the contact name and address for this customer and make any necessary tasks quick and simple. changes.

Important! Be sure to click the customer name before selecting Add Job. Although you can change the customer name in the Add Job window, the related customer information such as address and contact information is not automatically updated. Rather than trying to change all this information each time you add a new job, select the customer name first and then open the Add Job window.

If this is all the information you plan to add at this time, click OK to save your entries.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly training. Each task includes a screenEnter Additional Information formethod a NewofJob by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click the Additional Info tab to enter other information relating to the job. Select the customer type. If the type you want to use does not appear, select Add New from the drop-down menu to add a new type to the available options. If applicable, select the preferred method of sending invoices and other forms to this customer. If applicable, select a price level to be used for this customer.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter Payment Information for a New Job Click the Payment Info tab to enter more information relating to the job. If you use account numbers for your jobs, enter the number here. If applicable, enter the credit limit this customer has with your company. You will be warned if you attempt to issue an invoice for more than the customer's credit limit.

Did You Know? Credit limits generate warnings when you issue an estimate or invoice. If you attempt to create an estimate or invoice for more than the customer's credit limit, QuickBooks gives you a warning.

Indicate the payment method typically used by this customer. If a credit card is chosen, you can enter the customer's credit card information here.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Some of this information might already appear. Much of the information relating to individual jobs, such as price levels and credit limits, was already entered when you set up the customer. Unless a change relating to the specific job occurs, you can accept the information that carries over from the customer.

Enter Specific Job Information Click the Job Info tab to enter more information relating to the job. Enter the status of this job if you track this information. Enter the projected start date for this job. Enter the projected end date for this job. Enter the actual end date for this job. Enter a description for the job. Select a job type for this job. If the applicable job type does not appear, click the Add New option to enter a new type of job.

Click OK to save your entries.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating an Estimate If you use QuickBooks Pro, you can create estimates that provide preliminary planning information for each of your jobs. The forms QuickBooks provides for your estimates look very similar to invoice forms. Fill out an estimate, showing the anticipated time, items, and • Table of to Contents expenses you plan allocate to this job. Estimates are saved, referred to, revised, and • (ultimately) Index used to create invoices as the job is completed. Show Me QuickBooks® 2004 ByGail Perry

Create an Estimate Publisher: Que Pub Date: February 19, 2004

Select Create Estimates from the Customers menu.

ISBN: 0-7897-3078-2 Pages: 320

Indicate the customer and, if applicable, the job for which you are preparing an estimate. Verify that the correct date appears on the form. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Enter visually all the with items this and user-friendly expenses method that relate of training. to this estimate. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Select a save option to complete the estimate.

Did You Know? Estimate amounts do not affect your financial statements. Unlike the act of entering an invoice in QuickBooks, the creation of an estimate does not affect your balance sheet or income statement. • company's Table of Contents •

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Invoicing Against an Estimate After you have an estimate in your QuickBooks file, you can refer to that estimate when you're ready to prepare an invoice. When you prepare an invoice for a job that has been estimated, you have the option of invoicing for the complete estimate, a percentage of the • of Contents estimate, or Table specific items on the estimate. The concept of invoicing a portion of the estimate • Index invoicing. With progress invoicing, you invoice the customer as the job is called progress Show Me QuickBooks® 2004 progresses as opposed to waiting to invoice when the entire job is completed. ByGail Perry Publisher: Que Prepare an Invoice for 100% of the Estimate Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Press Ctrl+I to open an invoice form.

Pages: 320

Enter the name of the customer and, if applicable, the job. If an estimate exists, the Available Estimates window appears. Show Me QuickBooks helps readers how perform tasks using the leading Click the estimate againstlearn whichvisually you want toto invoice. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Click visualOK. accompanied by a concise text description that makes performing everyday tasks quick and simple. Select to create an invoice for 100% of the estimate. Click OK; the amounts from the estimate are entered on the invoice. Verify that all amounts on the invoice are correct. Make any necessary changes in the white columns on the invoice. Select a save option to complete the invoice.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Prepare an Invoice for a Percentage of the Estimate Follow steps 1–4 from the previous example. Select to create an invoice for a percentage of the entire estimate. Indicate the percent to be used on the invoice. Click OK. All the information from the estimate is transferred to the invoice, and the percent you chose is applied. Verify that all the amounts on the invoice are correct, making any necessary changes in the white columns on the invoice. Select a save option to complete the invoice.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Prepare an Invoice for Selected Items Follow steps 1–4 from the previous two examples. Select to create an invoice for the selected items or a different percentage of each item. Click OK. Click here to show the quantities and prices of the estimated items. Click here to show the percentages of the estimated items. In the white area, indicate the percent, quantities, or prices of each item you want to include on the invoice. Click OK. Save your invoice.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Zero-balance items don't show on the printed invoice. Assuming you set the jobs and estimates preferences to hide zero-balance items from your invoice, you won't see those items on your printed invoice. They do, however, appear on the invoice you see onscreen. Click the Print button at the top of the invoice and then select Preview to view the actual invoice before it prints. You'll see that the zero items do not appear.

Revising Estimates Plans can change, and when that happens, QuickBooks is ready to change with you. If you create an estimate for a customer and then find the job requirements have changed, the price of materials has gone up, it won't take as long as you predicted to do the work, or any other • Table of Contents change has occurred, you can easily revise your estimate to keep up with the changes. •

Index

Show Me QuickBooks® 2004

Revise an Estimate ByGail Perry

Publisher: Que

Select Jobs, Time Pub Date: February 19, 2004

& Mileage, Estimates by Job from the Reports menu.

ISBN: 0-7897-3078-2 Pages:Double-click 320

the Amount for the estimate you need to change.

Make changes on the estimate form. Show Me QuickBooks Click a savehelps option readers to savelearn yourvisually changes. how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating a Work in Progress Report After you've entered estimates into your QuickBooks file, you can produce a report that displays all outstanding jobs, the amount of estimates on these jobs, the amount that has been invoiced so far, and the percent that has been invoiced. You can customize this report to • Table of Contentsin which you are interested. show only the information •

Index

Show Me QuickBooks® 2004

Display a Work in Progress Report ByGail Perry

Publisher: Que

Select Jobs, Time Pub Date: February 19, 2004

& Mileage, Job Progress Invoices vs. Estimates from the Reports

menu. ISBN: 0-7897-3078-2

Pages: 320

Click the Modify Report button. Click to place a check before each column you want to include on the report. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software to uncheck for small anybusinesses. columns you They don't areneed ableto tosee. find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Click to select the order—ascending or descending—in which you want to see tasks quick and simple. information displayed. Click OK to display the revised report.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Filter a Report by Certain Criteria Complete steps 1 and 2 in the previous example. Click the Filters tab. Select a filter that will be used to limit the information that displays on your report. In this example, the report will be filtered to display only certain names. Select the criteria to apply to this filter. Enter any additional information requested, based on the filter you have selected. The options that appear here can vary, depending on which criteria you chose in step 4. Click OK (there might be more than one opportunity to click OK) to return to your filtered report.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 9. Tracking Time What You'll Do • •

Set Time Tracking Preferences Table of Contents Index

Install the Timer

Show Me QuickBooks® 2004 ByGail Export Perry

Information to the Timer

Create New Timer File

Publisher: Que

Pub Date: February 19, 2004

Create a Timed Activity ISBN: 0-7897-3078-2

Use Pages: the 320 Timer Send Timer Data to QuickBooks Open Timer Data in QuickBooks ShowBill Me Time QuickBooks helps readers visually how to perform tasks using the leading from the Timer to thelearn Customer accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction The timer is a feature that is unavailable in the standard version of QuickBooks. You must be running QuickBooks Pro, Premier, or Enterprise Solutions to have access to this feature. The timer provides QuickBooks Pro users with the ability to use the computer like a time clock, • Table of Contents tracking time spent and assigning that time to customers and jobs. In addition to using the • Index time clock features, you can use the timer to record a description of the work you performed Show Me QuickBooks® 2004 you spent. and the amount of time ByGail Perry

Information recorded in the timer can be transferred directly to your company payroll if you use QuickBooks for preparing your payroll, and you can transfer time charged to a job Publisher: Que directly to a customer invoice. Pub Date: February 19, 2004

ISBN:works 0-7897-3078-2 The timer on any computer. The owner of the QuickBooks program can provide employees Pages: and 320 contractors with a copy of the timer program, loaded with company customer and job names as well as designated tasks, and the worker can then record time spent and export the information back to the company file, saving time and paperwork.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Time Tracking Preferences Setting time tracking preferences is as simple as turning on the feature. That, along with designating the first day of your work week, is all you need to do to activate this feature. When you enter the first day of your work week, you are indicating on which day of the week • Table of Contentsto begin. Remember, if you don't have QuickBooks Pro, this feature you want your timesheets • Index is not available to you. Show Me QuickBooks® 2004 ByGail Perry

Set Time Tracking Preferences Publisher: Que Pub Date: February 19, 2004

Select Preferences from the Edit menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the Time Tracking icon. Click the Company Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software Yes tofor turn small on businesses. time tracking. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Select the first day of your work week. tasks quick and simple. Click OK.

Installing the Timer Install the timer so you can begin using the time tracking features of QuickBooks Pro. When you install the timer, you can track time on your computer and use the timer to bill time to clients and record time for payroll purposes. •

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Show Me QuickBooks® 2004

Install the Timer ByGail Perry

Click Publisher: Que

the Start button on your taskbar.

Pub Date: February 19, 2004 ISBN:Select 0-7897-3078-2 Programs,

QuickBooks, Install QuickBooks Pro Timer.

Pages: 320

Read the instructions; then click Next.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Confirm the location of the program, or click Browse if you want to choose a different location on your computer for the timer program. Click Next. Click Next to continue. You need to restart your computer before the timer program is accessible. Make

sure all your other programs are closed and then click Finish.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Exporting Information to the Timer The timer uses information from your QuickBooks file to enable your employees and contractors to charge time to customers and jobs. Employee names; descriptions of payroll items such as salary, hourly, overtime, and so on (not amounts, just the names of these • Table Contents and related jobs; and classes (if applicable) all are fed into the items); names of of customers • Index timer. Then an employee or a contractor simply uses the timer like a stop watch to record Show Me QuickBooks® 2004 The total time for the project can also be entered directly into the time spent on a project. timer. This information must be exported to the timer before your employees or contractors By Gail Perry can start using the timer. Publisher: Que Pub Date: February 19, 2004

Export Information to the Timer ISBN: 0-7897-3078-2 Pages: 320

Open QuickBooks and select Timer from the File menu; then select Export Lists for Timer. You see a graphic illustration how thehow timer OK. Show Me QuickBooks helps readers learnofvisually to works. performClick tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this method of training. Each task includes a screenEnter a filename foruser-friendly the timer file, preserving the .IIF extension QuickBooks by-screen visual accompanied by a concise text description that makes performing everyday supplies. tasks quick and simple.

Did You Know? You need to provide this file to others. Remember the folder where this file is saved because you will need to copy this file for any employees or contractors who are using the timer on another computer. Keep in mind that, in addition to those who use desktop models, employees and contractors using laptop computers can also take advantage of the timer feature.

Click Save. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating New Timer File When using the timer—whether it is on your computer, as illustrated here, or on someone else's computer where you have installed the program—you don't need to have your QuickBooks program open. The timer works independently of QuickBooks, which is why you • of Contents can provide Table the timer to others who aren't using your computer. You record time and • Index activities in the timer, and use the memo area to describe the work you do. Show Me QuickBooks® 2004 ByGail Perry

Create New Timer File Publisher: Que Pub Date: February 19, 2004

Click the Start button; then select Programs, QuickBooks Pro, QuickBooks Pro ISBN: 0-7897-3078-2 Timer.

Pages: 320

For this example, we will assume you haven't used the timer before. Click Create New Timer File. Show Me QuickBooks Click OK. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Give visual your accompanied timer file aby name. a concise You are textlimited description to eight thatcharacters makes performing and no spaces. everyday tasks quick and simple. Click OK. You are reminded you need to import the timer information. Click No to continue to the import session. Select File, Import QuickBooks Lists from the Timer menu.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Click Continue on the Import QuickBooks Lists window. Enter the filename where your timer data was exported from QuickBooks. Click OK. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Keeping Track of Time Why do we need to keep track of time? Why can't we just go to work, do our jobs, come home at the end of the workday, and be done with it? • Table ofreasons Contentsfor time tracking. This list explains some of the reasons we need to There are several • keep track ofIndex the amount of time spent at work and what is done with that time: Show Me QuickBooks® 2004 ByGail Perry

When companies know how long it takes to do a particular job, they can determine when a job will be completed.

Publisher: Que Pub Companies Date: February compare 19, 2004

the length of time different workers take to complete the same work determine how to place workers in positions where they will be most useful and ISBN:to 0-7897-3078-2 efficient. Pages: 320 If a company pays or charges by the hour for services, the company needs to know how much time is spent on a job to assess the cost of the job.

Non-salaried workers who are paid by the hour must keep track of time to be paid. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting Knowing software the amount for small of time businesses. a job has They taken areinable the to past find helps answers a company to theirestimate questions the quickly amount and visually of timewith a similar this user-friendly job will takemethod in the future. of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Creating a Timed Activity Before you can begin clocking your time, you must indicate the type of activity you are performing, the name of the customer or job to which this activity applies, and the class (if applicable). You might want to include a brief description of the exact work you are • Tableindicate of Contents performing and whether this time is directly billable to the customer. After all this • Index information is entered, you'll be ready to start using the timer. You don't have to enter this Show Me QuickBooks® 2004 information each time you use the timer for the same job. Once entered, the job information will be accessible in the future. By Gail Perry Publisher: Que

Create a February Timed Pub Date: 19, Activity 2004 ISBN: 0-7897-3078-2 Pages: 320

Click the New Activity button in the Timer window.

Enter the date. The timer defaults to today's date; enter a different date, particularly if you are entering time for work that was performed at an earlier date. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingSelect software small businesses. They able who to find answers theirfrom questions yourfor name (or the name of theare person is using the to timer) the quickly and visually with this user-friendly method of training. Each task includes a screendrop-down menu. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Select a customer and job from the drop-down menu. Select a service item from the drop-down menu. If your company uses classes, select a class from the drop-down menu. Enter an optional note describing the work. Indicate whether this time is to be billable to the customer. Click OK. Repeat these steps to create more timed activities.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Did You Know? quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday The name must be on the list that was imported from QuickBooks. If your tasks quick and simple. name doesn't appear on the list, you need to first enter the name as an employee or a vendor in QuickBooks and then re-export the files from QuickBooks to the timer. The same goes for the other timer information that needs to be entered from drop-down lists.

Using the Timer After you've set up at least one timed activity in your timer, you can use the timer to record your time on the activity. You have the choice of actually using the timer as a stop watch or entering your total time for a project. •

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Show Me QuickBooks® 2004

Use the Timer ByGail Perry

Click Publisher: Que

the Start button on your taskbar. Then select Programs, QuickBooks Pro, QuickBooks Timer. Pub Date: February Pro 19, 2004 ISBN: 0-7897-3078-2 Pages:Select 320

an activity from the drop-down list.

Click Start and begin working. Show Me QuickBooks When you have helps finished readersworking learn visually and arehow ready to perform to stop the tasks clock, using click theStop. leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenThe Stop button changes to Resume, and you can click Resume to continue running by-screen visual accompanied by a concise text description that makes performing everyday the timer. tasks quick and simple. To enter your time directly into the timer instead of running the stop watch, click Edit Activity. Enter the correct time in the Duration field. Click OK. When you are finished recording your time, select File, Exit from the Timer menu.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Sending Timer Data to QuickBooks After recording information in the timer, you need to send the data back to be incorporated into your company's QuickBooks file. This is a reverse of the export/import process you used when you sent employee and job data to the timer from QuickBooks. When time data has • Table Contents been returned to of QuickBooks, you can bill the time to clients and link it to the payroll • program. Index Show Me QuickBooks® 2004 ByGail Perry

Send Timer Data to QuickBooks Publisher: Que Pub Date: February 19, 2004

Select File, Export Time Activities from the Timer menu.

ISBN: 0-7897-3078-2 Pages: 320

Click Continue. Enter the date through which timer activities should be exported to QuickBooks. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software OK. for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter a filename for your export file. The date of the export has been used as the tasks quick and simple. filename in this example. Click OK. Click OK. You can now close the timer program.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Opening Timer Data in QuickBooks QuickBooks imports data from the timer directly into the payroll part of the program. Once imported, you can pay employees with the data from the timer and bill time to your customers. •

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Show Me QuickBooks® 2004

Open Timer Data in QuickBooks ByGail Perry

InQue your Publisher:

QuickBooks program, select Timer from the File menu; then select Import Activities from Pub Date: February 19,Timer. 2004 ISBN: 0-7897-3078-2 Pages:Click 320

OK.

Locate and click the file. Show Me QuickBooks Click Open. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Click the name of the report you want to view. Click View Report to see the details of the imported activities.

When the report appears, double-click an employee activity to see that the activity has been entered in the Time/Enter Single Activity window of your company's payroll system. Click the Timesheet button to view the complete time record for this employee. •

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Billing Time from the Timer to the Customer When you enter time that is allocated to a customer or job in the timer, the information carries over directly to that customer when the time is imported into QuickBooks. See how to apply that time to a customer invoice. •

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Show Me QuickBooks® 2004

Bill Time from the Timer to the Customer ByGail Perry

Import Publisher: Que

time from the timer, as shown in the previous example.

Pub Date: February 19, 2004 ISBN:Select 0-7897-3078-2 Customer,

Create Invoices or press Ctrl+I to open an invoice.

Pages: 320

Enter the customer name and job on the invoice. If time has been billed to this customer, a Billable Time/Costs window appears. Show Click Me QuickBooks OK to closehelps this window. readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenClick the Time/Costs button. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click the Time tab. Click to check each item you want to include on this invoice. Click OK. Click one of the save buttons to save the invoice.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 10. Miscellaneous QuickBooks Features • What You'llTable Do of Contents •

Index

SetQuickBooks® Spelling Preferences Show Me 2004 ByGail Perry

Create a Budget

Publisher: Quea Produce

Budget Report

Pub Date: February 19, 2004

Set Up0-7897-3078-2 Classes ISBN: Pages: 320

Use Multiple Classes on One Form Create Payment Terms Customize a Form Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Void Checks accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenMakevisual a Journal Entry by-screen accompanied by a concise text description that makes performing everyday tasks quick and simple. Use the Audit Trail Use the QuickBooks Remote Access Feature Create Mailing Labels

Introduction This collection of miscellaneous tips and techniques contains something for every QuickBooks user. Here you'll find shortcuts such as using and customizing the icon bar and tips for correcting errors. You'll learn about the QuickBooks budget features and find out how to • Table of Contents create mailing labels. •

Index

Show Me QuickBooks® 2004 This chapter contains information about working with an outside accountant who can access your information and help you make year-end journal entries to produce accurate By Gail company Perry financial statements. You'll learn how to void checks without affecting a prior period balance. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Spelling Preferences To spell correctly, or not to spel corectley—fortunately, there's a bit more to setting your spelling preferences than that! Do you want QuickBooks to check your spelling on your forms? Are there certain types of words you want the spellchecker to ignore? The spelling • of Contents preferences Table are personal settings as opposed to companywide settings, so each QuickBooks • user at your Index company can choose the spelling features appealing to him. Show Me QuickBooks® 2004 ByGail Perry

Set Spelling Preferences Publisher: Que Pub Date: February 19, 2004

Select Preferences from the Edit menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the Spelling icon. Click the My Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingCheck software this for boxsmall to require businesses. that QuickBooks They are able spellcheck to find answers each of your to their forms questions before quickly printing, and visually saving, with orthis sending user-friendly the form.method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Check here to eliminate URLs from the spellcheck. Check here to eliminate spellchecker alerts on words containing numerals. Check here to eliminate proper nouns from the spellcheck. Check here to eliminate from the spellcheck words that contain all capital letters. Check here to eliminate from the spellcheck words that contain capital letters after the first letter.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Spellchecking is not available on all forms. The QuickBooks spellchecking feature is available only on forms you send to customers. This includes invoices, purchase orders, estimates, sales receipts, and credit memos. You can enforce automatic spellchecking as indicated in step 4, or you can spellcheck these forms on an individual basis by clicking the Spelling button at the top of the form.

Creating a Budget You can set up a budget in QuickBooks that can be used to track your company's financial progress throughout the year and to draw comparisons between actual and budgeted performance. The easiest way to begin budget creation is to use a year-end income • Tableyour of Contents statement from company's previous year. You can use the numbers on the financial • statement toIndex get started with your budget and then fine-tune the budget after all the prior Show QuickBooks® year'sMenumbers have2004 been entered. QuickBooks has created a wizard to walk you through the process of setting up your budget. By Gail Perry Publisher: Que

Create a February Budget Pub Date: 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Select Planning & Budgeting from the Company menu; then select Set Up Budgets from the side menu that appears.

Enter the year for which this budget will apply. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingIndicate software for small businesses. They are able find and answers to balance their questions whether this budget is to be based onto profit loss or sheet (for quickly and visually with this user-friendly method of training. Each task includes a screenthis example, we will use profit and loss). by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click Next. If you want your budget organized by customer and job or by class, indicate that here. For this example, we will not organize the budget by these criteria. Click Next. Select whether you want to create your budget from scratch or from prior year financial statement numbers. For this example, we will create the budget from scratch. Click Finish.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Budget setup is easy after the first year. If you've used QuickBooks in the past, your prior year's financial information is already saved in your file. Instad of creating your budget from scratch, you can use the prior year's financial statement numbers as your starting point and save yourself the time of looking up and entering this information.

In the white areas, fill in the monthly amounts for your budget. QuickBooks automatically summarizes your monthly amounts in the annual total column. Save time by entering an amount in the first month; then click the Copy Across button to insert that amount in every other month for the year. Automatically increment a budgeted amount by clicking the Adjust Row Amounts button. In the window that appears, indicate the percent or dollar amount by which you

want the budgeted amount to increase each month. If you enter a negative amount, the budgeted amount decreases each month. Click OK.

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When you have finished entering all the budgeted information, click Save to save your budget. Table of Contents

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Index

Show Me QuickBooks® 2004 Click OK to close

the budget window.

ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can save your budget as you go. You can click the Save button while you're working on your budget to make sure your budgeted information is saved. Clicking Save authorizes QuickBooks to save the information you have entered but doesn't close the budget setup window. Clicking OK saves and closes the window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Producing Budget Reports You can produce several budget reports in QuickBooks, comparing your actual performance to your budgeted performance. Income statements and balance sheets both utilize budgeted numbers. Use these reports to see how your company's performance compares to your • Table of Contents expectations. •

Index

Show Me QuickBooks® 2004

Produce a Budget Report ByGail Perry

Publisher: Que

Select Budgets Pub Date: February 19, 2004from

the Reports menu, and then select Budget Overview from the

side menu that appears. ISBN: 0-7897-3078-2

Pages: 320

Select the budget you want to use in your report. Click Next. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingChoose software how foryou small want businesses. the budget They to be are laid able outtoon find your answers screen. to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Click Next. tasks quick and simple. Click Finish to produce the report.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Classes QuickBooks provides an additional level of organization called classes. Classes enable you to group transactions in ways that can help you better analyze your company's performance. For example, you can use classes to track transactions by region, salesperson, or type of job. •

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Show Me QuickBooks® 2004

Set Up Classes ByGail Perry

Select Publisher: Que

Preferences from the Edit menu.

Pub Date: February 19, 2004 ISBN:Click 0-7897-3078-2 the Accounting

icon.

Pages: 320

Click the Company Preferences tab. Check this box to turn on the class feature. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Click OK. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Select Class List from the Lists menu. The window will be empty. Click the Class button. Then either select New or press Ctrl+N to set up a new class. Enter a name for this class. If the class is a subclass of another class, indicate that here. Click OK to save the class.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? The Class option appears on forms. After you've turned on the class tracking feature, you'll notice a Class box on your various forms. The box is not present when class tracking is turned off.

Using Multiple Classes on One Form You might think that you can enter only one class per form. But what if the information on your form relates to more than one class? For example, you might need to order items from one vendor that relate to different classes. You can solve this problem by putting a separate • of Contents class columnTable on the form instead of using the Class box at the top of the form. Then you can • Index designate a separate class next to each item you order. Show Me QuickBooks® 2004 ByGail Perry

Use Multiple Classes on One Form Publisher: Que Pub Date: February IMPORTANT Turn 19, on 2004 Classes! You must have the Class feature turned on before performing ISBN: 0-7897-3078-2 this task. Pages: 320

Select Templates from the Lists menu. Double-click the form to which you want to add a class column. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software for smalltab businesses. They are able tothat findappears. answers to their questions the Columns in the Customize window quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Check the box next to Class in the Screen column. tasks quick and simple. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Customizing Forms QuickBooks comes with a collection of standard forms, ready for your use. You are welcome to use these forms as is, or you can make changes to customize the forms to the needs of your company. You can add or remove fields and columns, change the size of the forms, and • Table of Contents even add graphic images such as your company's logo. If you're feeling really creative, you • can design aIndex form from scratch. For this example, we will edit an existing form to make some Show QuickBooks® 2004 minorMe changes. ByGail Perry Publisher: Que a Form Customize Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Templates from the Lists menu.

Pages: 320

Click a form you want to revise. Click Open Form. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Onvisually the blank withform this that user-friendly appears, method click theof Customize training. Each button. task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click New to use the existing form as your basis for creating a new, customized form.

Did You Know? Certain form elements can't be changed. You might see a message indicating that some of the design options are unavailable to you. If you chose to edit a standard Intuit form there are certain areas you are not permitted to change. You can overcome this obstacle by choosing to create a new form from the existing template, as we have done in this example.

Enter a name for your new form. Click each tab to view different elements of the form.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Check or uncheck boxes to choose or deselect the elements you want to include on your customized form.

Did You Know? There are screen elements, and there are print elements. For each form, some elements are displayed only on your screen and not on the printed form, other elements are displayed on both the screen and the form, and some elements are displayed only on the printed form. Check boxes in either the Screen or the Print column, or both, to determine where the elements appear.

Click the Layout Designer button. Here you can preview your form and click and drag to move elements to different locations. Click OK when all changes have been completed.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Voiding Checks You can void checks that have been recorded in your QuickBooks company file. There are two methods of voiding, depending on when the check was issued. If the check was issued in the current year, you can void the check in the check register. If the check was written in a prior • Table of year, you should beContents careful not to change amounts that appeared on your financial • statements. Index The steps shown here will prevent that from happening. Show Me QuickBooks® 2004 ByGail Perry

Void a Check in the Current Year Publisher: Que Pub Date: February 19, 2004

Press Ctrl+A to open the Chart of Accounts.

ISBN: 0-7897-3078-2 Pages: 320

Double-click the name of your checking account to open the register. Click the Go To button. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Choose whether to search by Payee, check number, or some other criteria. Enter the name (if you're searching by payee), check number, or other information

to help you find the check you want to void. Click Prev or Next to search backward or forward in the register. Continue clicking Prev or Next until you find the check you're looking for. When the entry for the check appears, press Esc to remove the Go To window. •

Table of Contents

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Index Right-click the register entry.

Show Me QuickBooks® 2004 ByGail Perry

Click Void Check on the pop-up menu. The check amount switches to zero and VOID appears in the memo area.

Publisher: Que

Pub Date: February 19, 2004

Click the Record ISBN: 0-7897-3078-2

button.

Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Void a Check from a Previous Year Select Make General Journal Entries from the Company menu.

Enter today's date (or the date on which the check became void). Enter the name of the bank account on which the check to be voided was drawn. Enter the amount of the check in the Debit column. •

Table of Contents

Enter Index the phrase, Void Check_check number in the Memo column and enter the Show Me QuickBooks® number of the2004 check you are voiding. •

ByGail Perry

Enter the name of the account to which the check was originally charged. Publisher: Que Pub Date: February 19, 2004

Verify the amount that appears in the Credit column.

ISBN: 0-7897-3078-2 Pages: 320

Click Save & Close to save the transaction and close the window. Follow steps 1–7 from the previous task. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading not change the amount of the check! thetomemo field, enter Voided ondate accountingDo software for small businesses. They are In able find answers to their questions and enter the date on which you created the journal entry. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click the Record button. Because this change affects a prior year, you might be required to enter a password before the transaction can be recorded.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Closing Financial Records at Year-End " on page 225 for information on setting a year-end close date and making changes after that date has passed.

Making Journal Entries For some transactions, no QuickBooks standard form is available. For these transactions, you use the General Journal. The General Journal is the place where you adjust the balances in your accounts without the use of forms such as invoices, bills, and checks. In this journal, • Table ofbalance Contentssheet information, void a prior period check (as in the previous you can reclassify • task), recordIndex depreciation and amortization expenses, and reclassify amounts charged to the Show Meaccount. QuickBooks® 2004 Journal entries are made to accommodate these changes. For this wrong General example, By Gail Perrywe will create a General Journal entry to record depreciation expense. Publisher: Que

Make a Journal Pub Date: February 19, Entry 2004 ISBN: 0-7897-3078-2 Pages: 320

Select Make General Journal Entries from the Company menu. Verify the date for this journal entry.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Enter the first account name. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Enter visualthe accompanied amount. by a concise text description that makes performing everyday tasks quick and simple. Enter a description. Enter the next account name. Verify the amount. Repeat steps 6 and 7 if you have more accounts to enter. Click a save option.

Did You Know? Journal entries aren't just for depreciation. Use a journal entry whenever you Table of Contents need to enter or change information in your accounting records and no obvious • Index form is available for the job. •

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using the Audit Trail Your company accountant will love this feature. The audit trail provides a summary of all the transactions that have been entered in your QuickBooks company file, who entered them, and when they were entered. All you have to do to use this feature is turn it on. The Audit Trail • Table ofinContents works completely the background, keeping track of all the transactions. When you're • Index ready, you can produce a report that shows exactly what has been going on in your Show Me QuickBooks® 2004 company. ByGail Perry Publisher: Turn On Que the Audit Trail Feature Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Preferences from the Edit menu.

Pages: 320

Click the Accounting option. Click the Company Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Check visually the with Use Audit this user-friendly Trail box. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click OK.

Create an Audit Trail Report Select Accountant & Taxes from the Reports menu; then select Audit Trail from the side menu. Enter the range of dates that this report should cover. Click Refresh to update the report with the new date range.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using the QuickBooks Remote Access Feature If you travel or work out of the office and want to access your QuickBooks file from a remote location, the Intuit Remote Access feature is the tool you need. If you own the QuickBooks Premier Accountant Edition, this service is free for a year. Otherwise, you must pay a $14.95 • of the Contents monthly fee Table to use remote service. •

Index

Show Me QuickBooks® 2004

Use Remote Access ByGail Perry

Publisher: Que

Go to http://www.quickbooks.com/services/webex/more.html Pub Date: February 19, 2004

to read about the

remote access feature. ISBN: 0-7897-3078-2

Pages: 320

After the feature is activated, you are given a Web address, login name, and password. You can perform the following tasks 24 hours a day with remote access:

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Log in and open your company file. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenEnter transactions in your company file. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick Transfer and simple. files from one computer to another. Print information from your company file.

Creating Mailing Labels Sending an announcement to all your customers, vendors, or employees is easy when you use the address information already stored in your QuickBooks file to create mailing labels. QuickBooks lets you select the group and then produce labels based on your specifications. •

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Show Me QuickBooks® 2004

Create Mailing Labels ByGail Perry

Select Publisher: Que

Print Forms from the File menu; then select Labels from the side menu that appears. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages:Select 320

which group of labels you want to print. For this example, the customer list has been selected. Indicate whether you want to narrow the mailing list to particular types.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingIndicate software whether for small you businesses. want to specify They are ZIP able Codes tothat find begin answers with toatheir particular questions quickly number. and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Indicate how you want the list sorted. Check whether you want to use ship to addresses instead of mailing addresses. Check whether you want to print labels for names that are inactive. Check whether you want to print labels for individual jobs (only applicable if you are printing labels for customers). Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Select the format that applies to the labels you are printing. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually withtothis of training. taskare includes a screenClick Preview seeuser-friendly whether the method labels you are aboutEach to print what you expect. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click Align if you need to adjust the alignment of the text that will appear on your labels. Note: There is an option on the Align screen to print a sample. You can print this on plain paper to see how the labels will look without wasting label paper. Click OK to close the Align window after making any necessary adjustments. Click Print.

Chapter 11. Using QuickBooks Online What You'll Do • •

Set Service Connection Preferences Table of Contents Index

Activate Your Online Bank Account

Show Me QuickBooks® 2004 ByGail Retrieve Perry

QuickStatements (Online Bank Statements)

Match Transactions

Publisher: Que

Pub Date: February 19, 2004

Make Online Payments ISBN: 0-7897-3078-2

Send Pages: Online 320 Messages Transfer Money Between Accounts Get Reports of Online Transactions ShowUse Me the QuickBooks helps readers QuickBooks Web Site learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and with this user-friendly method of training. Each task includes a screenUse thevisually Internet Version of QuickBooks by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction Statistics show that more than a third of Americans are now participating in online banking activities. As banks make their online services easier to access and more cost effective, the use of these services will likely continue to grow. QuickBooks provides a user-friendly • Table of Contents interface with your bank, enabling you to reconcile your bank account online, examine recent • transactions,Index transfer money, and pay bills. Show Me QuickBooks® 2004

You By Gaildon't Perry have to use all the online services offered by your bank. Checking balances and transferring funds are typically free services, but most banks charge a monthly fee or a pertransaction fee for bill payment services. You should weigh this fee against the cost of Publisher: Que postage and paper supplies and the time you will save to determine whether the service is Pub Date: February 19, 2004 worthwhile to you. ISBN: 0-7897-3078-2

If yourPages: bank320 does not provide online banking services and you want to use these features, you can open a new account at a bank that does provide these services. Opening an account for the purpose of using online services doesn't necessarily mean you have to sever ties with your original bank. You can use one bank for online services and keep another for savings and loan services. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Service Connection Preferences You can choose Internet connection settings in QuickBooks. These Internet connection settings enable you to access the Internet automatically or wait for a password. In addition, you can also choose to have QuickBooks automatically download information in the • Contents background Table whileofyou're working. •

Index

Show Me QuickBooks® 2004

Set Service Connection Preferences ByGail Perry

Publisher: Que

Select Preferences Pub Date: February 19, 2004

from the Edit menu.

ISBN: 0-7897-3078-2 Pages:Click 320

the Service Connection icon.

Click the Company Preferences tab. Show Me QuickBooks Select this option helps readers if you want learn QuickBooks visually how to to be perform capable tasks of connecting using the toleading online accounting services software automatically, for small or businesses. if your computer They are is able normally to find online answers whentoyou their are questions working. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Select this option if you want to be prompted to enter a password before an tasks quick and simple. Internet connection is made. Check this box to enable background downloading of service messages. Click OK.

Activating Your Online Bank Account The first stop in using online banking services is getting access to a bank that provides the services you need. After you've opened a bank account and established online privileges, you're ready to put QuickBooks to work. You'll be able to access your bank account directly • Table of Contents from your QuickBooks program. These steps show you how to initiate the QuickBooks online • Index banking feature. Show Me QuickBooks® 2004 ByGail Perry

Activate Your Online Bank Account Publisher: Que Pub Date: February 19, 2004

Select Setup Online Financial Services from the Banking menu; then select Setup ISBN: 0-7897-3078-2 Account For Online Access from the side menu.

Pages: 320

Make sure the Enable Accounts tab is selected; then click Next. Enter your bank name or select My Financial Institution Is Not On This List to bring Show up Me aQuickBooks helpsinstitutions readers learn visually by how to performfrom tasks usingyou thecan leading list of financial recognized QuickBooks which select accounting software for small businesses. They are able to find answers to their questions your bank. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Click andNext. simple. Click Yes to enable additional accounts. Click Next.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Indicate the name of the account you will use for online services. Click Next. Enter the type of account. Enter the account number. Check the boxes to indicate which type of online services you will use with this account. Click Next. Click Leave.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Why Bank Online? Many people are reluctant to conduct financial transactions online. Their concerns can relate to security issues, a loss of personalized service, or the simple desire for a paper document summarizing the transaction. If you are trying to decide whether to bank online, perhaps this • Table ofto Contents list of advantages online banking will help sway you: •

Index

Show Me QuickBooks® 2004

Bank 24/7— You no longer have to worry about when the bank is open. You can bank any time of the day or night when you bank online. Stay warm, dry, and comfortable by banking from your desktop at a time that fits your schedule instead of the bank's Publisher: Que schedule.

ByGail Perry

Pub Date: February 19, 2004

No ISBN: waiting 0-7897-3078-2 in line— How often do you go to the bank and feel like you could read the entire newspaper while you wait in line? Forget about lines. You can conduct your Pages: 320 banking transactions immediately when you bank online. It's as if you had your own private teller, waiting patiently to process your transactions. View all your transactions— When you conduct a transaction at the teller window of your bank, you get a receipt for that transaction. That's all. When you bank online, you Showsee Me every QuickBooks helps that readers visually how to perform tasks thebanking leading transaction has learn passed through your account in the using current accounting software for small businesses. They are able to find answers to their questions cycle, and you see the balances in all your accounts. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied a concise that makes performing everyday Comparison shop for a by bank— Withtext the description advent of online banking, many banks have tasksbegun quick and simple. offering accounts online. You don't have to live in the same town as these banks to have an account there. Although examining bank balances and transferring funds are usually free services, there are other online services you can explore—bill paying for example—for which banks charge a fee. Shop around for a bank that provides the services you want at the price you want to pay. Maintain accurate records— Take advantage of the fact that you can check your bank balance any time, day or night, to ensure your own records in QuickBooks are accurate and up-to-date.

Retrieving QuickStatements After you've initiated online contact with your bank, you can request your bank statement whenever you want to see what transactions have cleared your account. You can easily view your statement with a few clicks of the mouse. •

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Show Me QuickBooks® 2004

Retrieve QuickStatements (Online Bank Statements) ByGail Perry

Select Publisher: Que

Online Banking Center from the Banking menu.

Pub Date: February 19, 2004 ISBN:If0-7897-3078-2 you have more Pages: 320 in appears

than one online account, verify that the correct account name the Financial Institution field.

Click to place a check to the left of the Get New QuickStatement For Account option. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingIfsoftware more items for small appear businesses. on the list,They either are check able or to uncheck find answers themto depending their questions on which quickly tasks and you visually wantwith to perform this user-friendly at this time. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. If you are not already online, click the Go Online button. Once online, that button changes to Send. Click the Send button. Click the QuickStatement option in the lower half of the Banking Center window. Click the View button.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Matching Transactions When you download your bank statement, QuickBooks automatically attempts to match transactions in your bank statement with transactions in your QuickBooks program. Unmatched transactions are noted at the top of the window. You can order QuickBooks to • Table of Contents record an unmatched transaction in your bank account register. •

Index

Show Me QuickBooks® 2004

Match Transactions ByGail Perry

Publisher: Que

Select Online Banking Pub Date: February 19, 2004

Center from the Banking menu.

ISBN: 0-7897-3078-2 Pages:Click 320

the QuickStatement that appears in the Items Received from Financial Institution area of the Banking Center window. Click the View button.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingA software messagefor appears small businesses. indicating how They many are transactions able to find answers are matched to their andquestions how many quickly remain and visually unmatched. with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click OK.

Unmatched transactions are transactions that don't agree in an obvious way with transactions in your register (shown at the top of the window). Change a transaction in

the register so that the information matches the description of an unmatched transaction. Click Record and the unmatched items automatically change to matched.

•

An unmatched transaction that was never recorded in your register can be added to the Table register by clicking the unmatched transaction and then clicking Add to Register. of Contents

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Index

Show Me QuickBooks® 2004

Click Done when all the unmatched transactions have been resolved.

ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You don't have to wait until the end of the month to reconcile your bank account.If you bank online, you can reconcile your bank account whenever and as frequently as you like. Using the matching procedures described here you can ensure your bank balance is always correct.

Making Online Payments You can make electronic payments to your vendors through QuickBooks. The QuickBooks banking center provides a place for you to make sure you have current address and account number information for your vendors before beginning the process of making online • payments. Table of Contents •

Index

Show Me QuickBooks® 2004

Make Online Payments ByGail Perry

Publisher: Que

Press Ctrl+W to Pub Date: February 19, 2004

open a new check.

ISBN: 0-7897-3078-2 Pages:Enter 320

the date on which the check is to be delivered.

Enter the payee name. Address and account number information will fill in automatically. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software the amount. for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter the account that is to be charged with this expense. tasks quick and simple. Check the option for Online Payment. Select a save option. Select Online Banking Center from the Banking menu. Click to place a check to the left of the online payment you want to dispatch. Click Go Online if you are not already online. This button changes to a Send button when you are online. Click Send.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? The address and account number are required for online vendors. If basic information such as the address and account number for a vendor has not been entered and you select the option to send the payment online, you are prompted to enter the required information for the vendor before you can continue with the online payment. You will find the account number on the bill you receive from your vendor.

Sending Online Messages You can send a message electronically through space, as it were, and communicate with your financial institution using your QuickBooks program. You can also make email requests for information or services. •

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Show Me QuickBooks® 2004

Create Online Message ByGail Perry

Select Publisher: Que

Create Online Banking Message from the Banking menu.

Pub Date: February 19, 2004 ISBN:If0-7897-3078-2 you deal with Pages: 320 Message

many online banks, verify that the correct bank appears in the

To field.

Enter a subject for the message. Show Me QuickBooks Verify that the helps correct readers account learnis visually in the Regarding how to perform Account tasks field. using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenEnter your message. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click OK.

Dispatch Online Message Select Online Banking Center from the Banking menu. Click to place a check mark to the left of the message.

Click Send (or click Go Online and then click Send).

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? If you have something important to say, call, don't email. The first "person" to see your message is probably a computer. If you need to discuss an issue right now, call your bank. Banks typically respond to email messages within 24 hours, but you might not be able to wait that long for a response.

Transferring Money Between Accounts You can use the QuickBooks online banking feature to transfer funds between accounts without ever leaving your desk, move excess funds from non-interest bearing accounts into interest-bearing accounts, or transfer money from your main checking account into your • TableUsing of Contents payroll account. the online banking center in QuickBooks, you can also check the • Index balances in all your accounts and transfer funds as necessary. Show Me QuickBooks® 2004 ByGail Perry

Request the Funds Transfer Publisher: Que Pub Date: February 19, 2004

Select Transfer Funds from the Banking menu.

ISBN: 0-7897-3078-2 Pages: 320

Ignore the date—QuickBooks forces this date to read Next Business Day when you indicate you are making an online transfer of funds. Enter the account from which you are transferring funds. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with thistouser-friendly method of training. Each task includes a screenEnter the account which you are transferring funds. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the amount of the transfer. Check the Online Funds Transfer box. Click a save option.

Dispatch the Funds Transfer Select Online Banking Center from the Banking menu.

Click to place a check mark to the left of the funds transfer. Click Send (or click Go Online and then click Send).

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Getting Reports of Online Transactions You can request a report that shows all your online transactions and use this report as a confirmation of transactions that have occurred. You can also customize the report to show only items you've sent or items waiting to be sent. •

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Show Me QuickBooks® 2004

Get a Report of Online Transactions ByGail Perry

Select Publisher: Que

Custom Transaction Detail Report from the Reports menu.

Pub Date: February 19, 2004 ISBN:Click 0-7897-3078-2 the Modify

button at the top of the report window.

Pages: 320

Click Online Status in the Choose Filter list. Select the type of online transactions you want to see. For example, pick from Show transactions Me QuickBooks to send, helps transactions readers learnthat visually havehow beentosent, perform and tasks so on.using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenClick OK. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using the QuickBooks Web Site QuickBooks offers a wealth of business resources on its Web site, from technical support and backup services, to a credit card merchant account program and links to sources for business loans, credit reports, insurance, and more. You can also take advantage of the option to • Table ofproducts Contents such as invoices and checks. order Intuit paper •

Index

Show Me QuickBooks® 2004

Use the QuickBooks Web Site ByGail Perry

Publisher: Que

With your Pub Date: February 19,Internet 2004

connection turned on, go to http://www.quickbooks.com to view the QuickBooks home page. ISBN: 0-7897-3078-2

Pages: 320

Click links to access a variety of tools and resources.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using the Internet Version of QuickBooks Consider using the Web-based edition of QuickBooks if you spend time away from the company and need remote access to your company files. You can access your company QuickBooks information 24 hours a day, creating forms and running reports, and the online • Table of Contents service comes with free technical support from Intuit. You can try the online service for 30 • Index days at no cost. Show Me QuickBooks® 2004 ByGail Perry

Use the Internet Version of QuickBooks Publisher: Que Pub Date: February 19, 2004

Go to the QuickBooks Web site at http://www.quickbooks.com.

ISBN: 0-7897-3078-2 Pages: 320

Click the Learn More option regarding the QuickBooks Online Edition. Follow the links to read about the online version of QuickBooks. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingA software 30-day free for small trial isbusinesses. available. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 12. Preparing Income Tax Returns • What You'llTable Do of Contents •

Index

Choose the Correct Show Me QuickBooks® 2004

Income Tax Form

ByGail Perry

Assign Tax Lines

Publisher: AccessQue Tax

Reports

Pub Date: February 19, 2004

Pay Estimated Taxes ISBN: 0-7897-3078-2 Pages: 320

Create a Tax Return Use QuickBooks with TurboTax

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction No matter what type of business entity your company is, whether it's a corporation, partnership, proprietorship, or not-for-profit, you need to prepare income tax returns at the end of each year. Your government requires that you report a summary of your income and • of Contents expenses forTable the year, and—although it doesn't produce income tax returns—QuickBooks • does provideIndex all the information you need to prepare the forms yourself or have someone else Show Me QuickBooks® 2004 for you. prepare your tax returns ByGail Perry

In this chapter you'll learn how to set up your accounts so the numbers feed into the proper place on tax reports. You'll also learn how to record estimated tax payments and how Publisher: Que QuickBooks ties in with TurboTax income tax software. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Choosing the Correct Income Tax Form Each type of business entity is required to file a different income tax form. In the EasyStep Interview, when you first set up your company in QuickBooks, you were asked to indicate which type of tax form your business files. QuickBooks uses this information to determine • Table of Contents which type of business entity your company is. Before you can use the QuickBooks features • that help youIndex prepare your income tax return, you must have the correct business entity Show Me QuickBooks® 2004 entity you selected, or to change the entity information, follow the selected. To verify which steps presented here. By Gail Perry Publisher: Que

Choose Correct Pub Date: the February 19, 2004 Income Tax Form ISBN: 0-7897-3078-2 Pages: 320

Select Company, Company Information from the menu. Click the drop-down arrow to select a tax form for this entity.

Show Me QuickBooks Click OK. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Which Income Tax Form Should You Use? Each type of business entity commands its own federal income tax return. You should consult with a tax professional to find out which type of tax return you need to file and, for that matter, which type of business entity is best for your company. Here are the various federal • Table tax of Contents business income forms at a glance: •

Index

Show Me QuickBooks® 2004

Form 990— Use this form if you are a tax-exempt organization. Tax-exempt organizations are usually those in the business of helping others. The IRS must give approval to your exempt status. Organizations that qualify for exempt status typically Publisher: Que include organizations that are charitable, educational, scientific, religious, or literary. Pub Date: February 19, 2004 The only income on which this type of organization pays income tax is income not ISBN: 0-7897-3078-2 related to the reason for the exempt status.

ByGail Perry

Pages: 320

Form 990-PF— Private foundations use this form. A private foundation is usually a taxexempt entity that is controlled by an individual or a family. Strict rules apply to this type of tax-exempt organization. Form 990-T— Tax-exempt organizations that have a profitable business not related to Showthe Me exempt QuickBooks helps learn visually how to perform tasks using the leading purpose ofreaders the organization are required to report the tax information from accounting software for small businesses. They are able to find answers to their questions their profitable business on this form. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen accompanied by aform concise makes performing everyday Formvisual 1040— This is the tax usedtext by description individuals.that If your business is a sole tasksproprietorship quick and simple. or another type of business, such as some limited liability corporations, that is not required to file a separate business tax return, your business income and expenses are reported on your 1040. Most commonly, people who report business activity on their 1040s use an accompanying Schedule C to summarize their business transactions. Form 1065— Use this form if you are a partnership. Partnerships are similar to S corporations in that your share of the company's net income or loss is passed through to you and taxed on your individual tax return (1040). Limited liability corporations with more than one member also use a Form 1065. Form 1120— Taxable corporations use this form to report their business activity. Corporations are taxed at their own rates and are liable for their own debts. Form 1120S— Some corporations are classified as S corporations. Instead of being taxed at corporate income tax rates, the income or loss of an S corporation is passed through to its owners, much like a partnership, and taxed on the individual tax returns.

Assigning Tax Lines If you plan to use QuickBooks to help prepare your company's income tax forms, you must assign a tax line to each of your company's accounts. You can assign tax lines as you set up your accounts, or you can open a chart of accounts report, see which accounts are • of Contents unassigned, Table and assign tax lines to all your accounts at once. •

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Show Me QuickBooks® 2004

Assign a Tax Line When Setting Up a New Account ByGail Perry

Publisher: Que

Pres Ctrl+A to open Pub Date: February 19, 2004

the Chart of Accounts.

ISBN: 0-7897-3078-2 Pages:Select 320

New from the Account menu, or press Ctrl+N.

Click the arrow to view the list of tax lines. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Didvisual Youaccompanied Know? by a concise text description that makes performing everyday tasks quick and simple. Tax lines vary depending on the tax return you file. When you selected your company's tax form, QuickBooks loaded the tax lines that apply to that particular form. Different companies see different tax lines on the drop-down list.

Click the tax line that is appropriate for this account. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Assign a Tax Line to an Existing Account Select Accountant & Taxes from the Reports menu; then select Income Tax Preparation. Double-click any account showing in the Tax Line column. Click the down arrow to display the available tax lines. Click the tax line for this account. Click OK. Repeat steps 2–5 for all accounts that need to be assigned to tax lines.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Accessing Tax Reports QuickBooks offers two reports designed to help you or your accountant prepare your income tax return. The Income Tax Summary report displays a summary of your company's income and expenses with one line on the report corresponding to each line of your income tax • Table of Contents return. The Income Tax Detail report shows the complete detail of every transaction that • Index feeds into the individual lines on your company tax return. Print both of these reports for the Show Mewho QuickBooks® 2004 person prepares your income tax returns. ByGail Perry Publisher: Que Open Income Tax Summary Report Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Accountant & Taxes from the Reports menu; then select Income Tax Summary.

Pages: 320

The Income Tax Summary report is automatically compiled based on the previous calendar year. Click to change the range of dates, if necessary. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingDouble-click software forany small businesses. are able find answers to that theirmake questions amount to see They the detail of alltothe transactions up that quickly and visually with this user-friendly method of training. Each task includes a screenamount. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Double-click the unassigned items to display the detail and either assign tax lines or verify that these should indeed remain unassigned. Press Esc to close the report.

Open Income Tax Detail Report Select Accountant & Taxes from the Reports menu; then select Income Tax Detail.

Change the dates, if necessary. Double-click any item to see the original document. Press Esc to close the report.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Paying Estimated Taxes If your business is a taxable corporation or you are the owner of the business and the business income is reported on your personal income tax return, you have a responsibility to estimate and pay quarterly income taxes. The IRS requires quarterly estimated payments of • Table ofyour Contents income taxes, and state might require payments as well. Use the tax reports discussed • Index in this chapter to help calculate your quarterly income tax. Show Me QuickBooks® 2004

Corporate ByGail Perry estimated tax payments are due as follows: Publisher: Que First quarter—

The 15th day of the 4th month of the fiscal year

Pub Date: February 19, 2004

Second quarter— The 15th day of the 6th month of the fiscal year ISBN: 0-7897-3078-2 Pages: 320

Third quarter— The 15th day of the 9th month of the fiscal year Fourth quarter— The 15th day of the 12th month of the fiscal year Individual estimated tax payments are due as follows: Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions First April 15th quickly andquarter— visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday quarter—— June 15th tasksSecond quick and simple. Third quarter— September 15th Fourth quarter—— January 15th If the 15th of the month in which a tax payment is due falls on a Saturday, Sunday, or federal holiday, the tax payment is due on the next business day.

Creating a Tax Return When you have all the information necessary for the creation of your tax return, you can find all the tax forms you need on the Internet. The IRS provides all the tax forms and accompanying instructions on its Web site, available for downloading; all the state revenue • Table of Contents agencies provide their tax forms online as well. •

Index

Show Me QuickBooks® 2004

Download Federal Tax Forms ByGail Perry

Publisher: Que

Determine Pub Date: February 19,which 2004

tax forms you need. The easiest way to do this is to look at last year's tax return. If this is the first year for your company's tax return, start with the ISBN: 0-7897-3078-2 main tax form for your company as described earlier in this chapter. As you follow Pages: 320 along and read the instructions, you will find out which other tax forms you need. Go to the IRS Web site at http://www.irs.gov.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Click the Businesses option. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Click visualForms accompanied And Publications. by a concise text description that makes performing everyday tasks quick and simple.

Click Forms And Instructions.

Scroll down until you see the forms section. Then scroll until you find the form(s) you want to download. Click the form you want; if you want to select more than one form, hold down the Ctrl key while clicking other forms. •

Table of Contents

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Index Click the Review Selected Files button.

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Click the name of a form you want to view. You can view the form onscreen, print it, and save it.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Download State Tax Forms Go to the Fun with Taxes Web site at http://www.funwithtaxes.com. Click the State Tax Forms link. Click the state for which you need tax forms. You will be directed to that state's revenue agency.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Each state has its own Web site. You can use an Internet search engine to find the revenue agency for your state. Or you can go to a Web site that provides links to all state revenue agencies. A site like this is especially handy if you need to file tax returns in more than one state.

Using QuickBooks with TurboTax You already know you can print tax reports in QuickBooks and fill out tax forms either by hand or in a tax preparation program. You also can use QuickBooks to communicate with tax preparation software such as TurboTax and prepare your tax return by transferring • Table of Contents information from QuickBooks to the tax program. •

Index

Show Meyou QuickBooks® 2004 Before can use TurboTax or any other tax software program in conjunction with your QuickBooks By Gail Perry program, you must ensure that all accounts have been properly assigned to tax lines. Publisher: Que When you're certain that your QuickBooks information is ready to be transferred to a tax Pub Date: February 19, 2004 preparation program, start the tax program (TurboTax, for example) and follow the prompts ISBN: 0-7897-3078-2 when asked whether you want to import information from QuickBooks. Pages: 320

QuickBooks can be imported into TurboTax, TurboTax for Business, TurboTax Pro Series, and H&R Block's TaxCut program.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 13. Security What You'll Do • •

Back Up Your QuickBooks Company File Table of Contents Index

Restore Backed-Up Information

Show Me QuickBooks® 2004 ByGail Use Perrythe

Online Backup Service

Set Up the Administrator

Publisher: Que

Pub Date: February 19, 2004

Add Users

ISBN: 0-7897-3078-2

Remove Pages: 320Users Close Financial Records at Year-End

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction Fortunately, we live in a world that is constantly plagued with system failures, computer viruses and worms, hackers, and disgruntled former employees. Why is this fortunate? In the early days of office computing, some 15–20 years ago, we were all very naive about the • Table of Contents problems that could arise from having sensitive records stored on computers. Many • Index to computers cautiously, doubling their effort by keeping a separate set of companies turned Show Me QuickBooks® financial records on 2004 paper, "just in case." Now we've experienced nearly every sort of "just in case" scenario imaginable, and we're better for it. Our paper ledgers are probably gathering By Gail Perry dust by now, but we've learned all sorts of methods for protecting our precious electronic files. Publisher: Que Pub Date: February 19, 2004 In addition to the availability of good storage and backup procedures, QuickBooks users have accessISBN: to a 0-7897-3078-2 multilevel security system within the program. The QuickBooks security system Pages: enables you320 to protect sensitive data from the eyes of unauthorized personnel. In addition, you can protect your data from being changed by unauthorized users. You can also set a password-protected closing date so that no company transactions from before the closing date can be changed without permission of someone with access to the password.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Backing Up Your QuickBooks Company File Abackup is an exact copy of your company data file. Every prudent businessperson should ensure that a functioning backup system is in place. If you use a backup process that backs up your entire system, your QuickBooks company file is included as part of the entire backup • Contents so you don'tTable needofto back up that file separately. If you instead back up specific files • individually, Index these steps will demonstrate how to back up just your company's QuickBooks Show Me QuickBooks® 2004 information. Consider backing up frequently and keeping a copy of your backed-up data somewhere By Gail Perry off your company premises. For this example, we'll save your backup file to a disk. An online backup procedure is presented later in this chapter. Publisher: Que Pub Date: February 19, 2004

BackISBN: Up0-7897-3078-2 Your QuickBooks Company File Pages: 320

Select Back-Up from the File menu. Choose to save your file to a disk. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingVerify software businesses. They is are able to find questions that for thesmall filename that appears the name youanswers want to to usetheir for this backup. quickly and visually with this user-friendly method of training. Each task includes a screenMake changes if necessary. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Verify the location where this file will be saved. Click Browse to choose a different location for your backup file. Click OK to perform the backup procedure. Click OK when the process is completed.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Restoring Backed-Up Information If your company's QuickBooks file has been damaged or you've replaced your computer, you need to restore your company's QuickBooks file from the most recent backup. Note that all transactions you've entered in QuickBooks since the last time you backed up your file will • Table of Contents need to be reentered. For this reason, you might want to enforce a check-off procedure • Index whereby QuickBooks users at your company use checklists to show which transactions they Show QuickBooks® enterMe and when the 2004 entries are made. In the event of a system crash and subsequent restoration By Gail Perry of backup, you'll easily be able to see which entries need to be reentered. Publisher: Que

Restore Backed-Up Pub Date: February 19, 2004 Information ISBN: 0-7897-3078-2 Pages: 320

Select Restore from the File menu to open the Restore Company Backup window. Verify that the filename for your company backup file is correct.

Show Me QuickBooks helps readers learnthe visually how to perform tasks using the leading Verify that the location where backed-up file is stored is correct. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Click visualBrowse accompanied if necessary by a concise to indicate textthe description drive andthat folder makes where performing the backed-up everyday file tasks quick is stored. and simple. Click Restore to begin the restoration process. Click Yes to accept the overwrite of any data currently stored on your computer. Type the word yes to verify you want to continue with the restoration process. Click OK. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Organize QuickBooks Transactions with a Daily Checklist One way to keep track of when information was entered into QuickBooks and who made the • of Contents entries is to Table require all QuickBooks users to fill out a checklist whenever they enter • information.Index Keep all the checklists in a binder or file folder so you can refer to them when Show Me QuickBooks® 2004 you need to trace the origin of a transaction. ByGail Perry

Here's a sample of a checklist for tracking QuickBooks activities: Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Daily Checklist of QuickBooks Activities Date: _______________ Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Quantity Reference accounting software for small businesses. They are able to findComments answers to their questions Name Item Entered Numbers quickly and visually with this user-friendly method of training. Each task includes a screenby-screenPayments visual accompanied by a concise text description that makes performing everyday received tasks quick and simple. Cash sales Bills received Shipments received Purchase orders issued Payments made Estimates issued Time on jobs New customers New vendors Other (describe below)

Using the QuickBooks Online Backup Service For an added measure of security, you can take advantage of Intuit's online data backup service. This fee-based service provides an offsite location for your backup. The online backup service costs $99.95 per year. The Intuit backup service includes triple DES 112-bit • Table ofisContents encryption, which the same encryption standard used by the U.S. government. Files that • Index up online can be downloaded at any time and onto the same or a different have been backed Show Me QuickBooks® 2004 computer from which they were backed up. Intuit offers a free 30-day trial of this service. ByGail Perry Publisher: Que Use the QuickBooks Online Backup Service Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Backup from the File menu.

Pages: 320

Click the Online option. Click OK. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually the Sign withUp this Now! user-friendly link. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Intuit's service isn't the only online backup service available. Many companies offer online backup services. Your company might already have such a service in place for files other than QuickBooks. Explore the Internet, ask for referrals from computer users you trust, and find out what other services are available.

Read about the backup service. Click Start Download Now if you want to use this online service.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up the Administrator QuickBooks provides a login and password system that enables you to restrict which users can view and change your company's financial information. To take advantage of this security system, you must first designate someone as the administrator. The person with • Table of Contents administrative rights (this can be more than one person) has the right to view all company • records and Index make changes to any existing transactions. Show Me QuickBooks® 2004 ByGail Perry

Set Up the Administrator Publisher: Que Pub Date: February 19, 2004

Select Set Up Users from the Company menu.

ISBN: 0-7897-3078-2 Pages: 320

Enter a name for the administrator. Admin has already been entered, but you can replace this with a different name. Enter a password. It can be no more than 16 characters and can include spaces. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenEnter the password again. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Click OK.

Did You Know? The password is optional. QuickBooks provides an option to enter a password when setting up the administrator, but you have the option of leaving this blank and having no password for the administrator.

Adding Users After you've set up the administrator for your QuickBooks company file, you're ready to set up the individual users and assign their rights for accessing and changing information. You can set a separate password for each user; you can assign separate rights to each user as • Table of Contents well. Each user can create a password, or you can have the administrator assign passwords • to each user.Index In any case, only a person logged on as the administrator has the right to Show Methe QuickBooks® initiate setup of 2004 users. ByGail Perry Publisher: Que Add a User Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Set Up Users from the Company menu. (Note: The User List might already be open if you just finished setting up an administrator. In that case, you can skip this step.)

Pages: 320

Click Add User. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software for small businesses. They are able to find answers to their questions a name for this user. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Enter and a simple. password (or have the user enter a password). Reenter the password. Click Next.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Assign All Rights Click All Areas Of QuickBooks if this user is to have the ability to access and make changes in all areas of the program. Click Next. Click Yes. Click Finish.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Assign Selected Rights After assigning a username and password, choose Selected Areas Of QuickBooks if you want to designate to which areas of the program this user will have rights. Click Next. For each area of the program, indicate whether the user has No Access, Full Access, or Selective Access. If you chose Selective Access, indicate whether the user has the right to create transactions, create and print transactions, or create transactions and reports. Click Next. Indicate whether the user has the right to change and delete transactions in the areas to which access has been assigned. Indicate whether the user has the right to change and delete transactions that occurred prior to the company's closing date (addressed later in this chapter).

Click Next. Verify all the access rights that have been assigned to this user. Click Prev to return to a previous page and make changes. •

Table of Contents Index Click Finish to complete the setup of this user's rights.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Removing Users Employees come and employees go. If someone leaves your company, you should remove that user's access to your QuickBooks file. Removing a user is easy, and you can always add the user again should the person requalify for access to your files. Only the administrator has • Table of Contents the right to remove a user. •

Index

Show Me QuickBooks® 2004

Remove a User ByGail Perry

Publisher: Que

Select Set Users Pub Date: February 19,Up 2004

from the Company menu.

ISBN: 0-7897-3078-2 Pages:Click 320

the name of the user you want to remove.

Click Delete User. Show Me QuickBooks Click Yes. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenClick Close to close the User List window. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Closing Financial Records at Year-End "Closing the books" is an option in QuickBooks, not a requirement. If you want to continue to permit changes to transactions from previous accounting cycles, such as the year just ended or an earlier year, you can ignore the option for setting a closing date. If you want to ensure • Table of Contents that your year-end final numbers on your reports remain final, follow the steps in this • Index example to set and protect your company's closing date. Show Me QuickBooks® 2004 ByGail Perry

Set the Closing Date Publisher: Que Pub Date: February 19, 2004

Select Preferences from the Edit menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the Accounting icon. Click the Company Preferences tab. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick simple. Didand You Know? Shortcut for setting the closing date. If your User List window is already open, just click the Closing Date button and the Preferences window opens to the Accounting Company Preferences screen.

Enter a closing date. Click the Set Password button. Enter a password. You are limited to 16 characters, including spaces. Reenter the password. Click OK. Click OK to close the Preferences window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Restrict User Access to Pre-Closing Date Transactions Select Set Up Users from the Company menu. Click a user's name. Click the Edit User button. Click Next until you get to the Changing Or Deleting Transactions screen. Indicate whether this user will have the right to change or delete transactions before the closing date. Click Finish.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 14. Using Inventory Features What You'll Do • •

Activate Inventory Table of Contents Index

Set Up Inventory Items

Show Me QuickBooks® 2004 ByGail Add Perryto

Your Inventory

Edit an Inventory Item

Publisher: Que

Pub Date: February 19, 2004

Learn Methods of Valuing Inventory ISBN: 0-7897-3078-2

Create Pages: 320 an Inventory Group Set Up Reminders to Replenish Your Inventory Prepare Inventory Reports ShowCount Me QuickBooks helps readers learn visually how to perform tasks using the leading Your Inventory accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenAdjust Inventory Quantities by-screen visual accompanied by a concise text description that makes performing everyday tasksAdjust quick and the simple. Price of Inventory

Introduction Merchandise that you own and expect to sell to others is called inventory. You can use QuickBooks to keep track of your inventory. QuickBooks provides a full, interactive inventory feature that constantly tracks and updates your company's inventory totals. Each time you • Contents receive new Table itemsofin stock, your inventory quantity increases and your inventory cost is • recalculated Index to reflect the average cost of all items in stock. Each time you sell an item, your Show Me QuickBooks® inventory decreases.2004 The cost of an inventory item you sell is recorded in your QuickBooks records at the current average cost of the item. By Gail Perry A reorder feature reminds you when supplies are getting low and tells you when you need to Publisher: Que order more. QuickBooks also provides a warning message if you try to sell more inventory Pub Date: February 19, 2004 items than you have in stock. ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

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Table of Contents

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Inventory Items When you set up an inventory item in QuickBooks, you provide descriptive information about the item and basic facts such as cost, sales price, sales tax treatment, and preferred vendor. You can indicate how many you prefer to keep in stock so QuickBooks can warn you when • Tablelow. of Contents stock is running •

Index

Show Me QuickBooks® 2004

Set Up Inventory Items ByGail Perry

Publisher: Que

Select Item List Pub Date: February 19, 2004

from the Lists menu.

ISBN: 0-7897-3078-2 Pages:Press 320

Ctrl+N.

Select Inventory Part from the Type drop-down list. Show Me QuickBooks Enter the name helps ofreaders the item learn as itvisually will appear how on to perform your inventory tasks using list. the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenEnter the name of the item as it appears on purchase orders and bills when you by-screen visual accompanied by a concise text description that makes performing everyday purchase this item. tasks quick and simple. Enter the cost you pay when you purchase this item. Enter the cost of goods sold (COGS) account that will be charged when you purchase this item. Enter the vendor where you prefer to shop for this item. Enter the name of the item as it appears on invoices when you sell this item to your customers. Enter the sales price you charge for this item. If the price varies, you can leave this blank. Enter the income account that is credited when a customer purchases this item. Enter the asset account that is increased when you add this item to your inventory. If you want to be reminded to reorder this item, enter the quantity of items that represents the cutoff for reordering. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Entering the cost is optional. If the amount you pay for this item varies, leaving the cost field blank and entering the cost when you enter a bill from your supplier might be easier.

Recording Manufacturing Inventory in QuickBooks If your company is a manufacturing company making products from raw materials or parts and supplies, you might want to upgrade your version of QuickBooks to QuickBooks Premier or QuickBooks Enterprise Solutions. These programs enable you to create and build items • Table items of Contents from component in your inventory. When the assembly items are completed, the • Index are removed from inventory and the completed assembly items are added component items Show Me inventory. QuickBooks® 2004 to your ByGail Perry

If your company manufactures only a small quantity of items, you can apply a little creative manipulation of the standard version of QuickBooks to record your inventory. Publisher: Que

Pub Date: February 19, 2004 Although you can keep track of individual raw material items with the standard QuickBooks ISBN: 0-7897-3078-2 inventory feature, there is no provision for transferring these items to work-in-progress or finished Pages: goods. 320

One method that works for recording manufactured inventory in the standard version of QuickBooks is to record raw materials as inventory items at the time they are purchased. Then, when the end product has been manufactured, create a sale to yourself of all the individual parts (this isn't difficult if you use the inventory group feature discussed later in Show Me QuickBooks helps readers learn visually how to perform tasks using the leading this chapter) and create a purchase of the finished product item (recording that item as accounting software for small businesses. They are able to find answers to their questions inventory as well). quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Adding to Your Inventory When you record the receipt of inventory items from your vendors, those items are added to your QuickBooks inventory. You can record the receipt of items from a vendor's bill, or if you haven't yet received a bill, the items can be entered from a packing slip. As soon as the bill • ofmark Contents arrives, one Table check turns the QuickBooks record of received items into a bill that needs • to be paid. Index Show Me QuickBooks® 2004 ByGail Perry

Add to Your Inventory Publisher: Que Pub Date: February 19, 2004

Select Receive Items from the Vendors menu.

ISBN: 0-7897-3078-2 Pages: 320

Enter the name of the vendor. Enter the date the items were received. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software the name for small of the businesses. item(s) received. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter the quantity of items received. tasks quick and simple. You can enter the cost of the items if you have this information, or you can leave this area blank.

Did You Know? Entering items changes the average cost. When you add items to your company's inventory, the average cost of that item is updated to incorporate the new items you've added and the cost you've entered. Although you can record the receipt of items without entering a cost, be aware that they will be averaged in with your other items at zero cost, thus reducing the average cost of all the pieces of that item you have in inventory.

Click one of the save options; the items are immediately added to your inventory.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Editing Inventory Items If the information you recorded about your inventory items changes, you can easily edit the information in your QuickBooks records. You can change any information about the item, including the language you use to describe the item, the cost, the sales price, a preferred • Table of Contents vendor, the sales tax status, and so on. The only thing you can't change about the item is its • Index type. After an item is designated as an inventory part item, it must keep that designation. Show Me QuickBooks® 2004 ByGail Perry

Edit an Inventory Item Publisher: Que Pub Date: February 19, 2004

Select Item List from the Lists menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the name of the item you want to change. Press Ctrl+E. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingChange software any forofsmall the information businesses.inThey the Edit are able Itemto window, find answers excepttothe their Type, questions which quickly cannot and visually be changed. with this Note user-friendly that the information method ofthat training. appears Each in the taskedit includes window a screenvaries, by-screen depending visual accompanied on the type ofby item a concise you choose. text description The window that shown makes here performing is for an inventory everyday tasks quick part item. and simple. Click OK.

Methods of Valuing Inventory You can use several methods to value inventory. QuickBooks uses the average cost method, in which the cost of all pieces of a single inventory item is totaled and then the total is divided by the number of items in stock, providing an average cost for each item. Although • of Contents this method Table is effective and easy to maintain, it is not the most popular method of valuing • inventory. Index Show Me QuickBooks® 2004

The By Gailthree Perry most popular methods of inventory valuation are not supported by QuickBooks. They are Publisher: Que Pub Date: in, February 2004 First first19, out (FIFO)—

Users of this method of inventory valuation make the assumption ISBN: 0-7897-3078-2 that the first items you purchase are the first items you sell. You'll notice a grocery store prefers to sell items on this basis, always moving the items with the Pages: 320 earliest date to the front of the shelf so they never have any old stock on hand. The value of inventory at the end of the year (or reporting period) is determined by taking a physical inventory count and then matching the costs of the most recently purchased items to the quantity of items on hand. The cost of the earliest items purchased is then added to the cost of sales. By using this method, your inventory is always valued at its Show Me QuickBooks helps readers learn visually how to perform tasks using the leading most current cost. accounting software for small businesses. They are able to find answers to their questions quickly andin, visually with(LIFO)— this user-friendly method of training. Eachvaluation task includes a the screenLast first out Users of this method of inventory make by-screen visual accompanied by a concise text description that makes performing everyday assumption that the last items (the most recent items) you purchase are the first items tasksyou quick and simple.a clothing store, where the latest fashions are the ones that sell, sell. Imagine whereas the older articles of clothing stay on the racks. Items remaining in your inventory are assumed to be the oldest items and are therefore valued at the cost of the oldest items purchased. Specific identification method— Users of this method of inventory valuation have an inventory that lends itself to the tracking of individual items. As each item is sold, the value of the inventory on hand is reduced by the actual cost of the specific item. For example, all automobiles have a vehicle identification number (VIN), so tracking specific automobiles that go in and out of inventory is easy.

Creating an Inventory Group Sometimes you might want to group several inventory items into one mega-item, so you can refer to the group as a whole. For example, suppose you sell dishware. Your inventory might include plates, cups, saucers, and bowls, all of which could be sold individually. Alternatively, • Table together of Contents you could group one place setting of a plate, cup, saucer, and bowl and sell the • Index item. In this example, a construction company creates a group of items that group as a single Show Me QuickBooks® 2004 together make up the supplies and labor required to build a wooden deck. ByGail Perry Que Inventory Group SetPublisher: Up the Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Item List from the Lists menu.

Pages: 320

Press Ctrl+N. Select Group as the Type. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Enter visually a name withfor this the user-friendly group. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter a description for the group. Check the Print Items In Group box if you want all the details of the group to appear on customer invoices. If you leave this unchecked, only the name of the group prints. Enter the individual items that form the group. Click OK.

Use the Inventory Group

Open a new invoice by pressing Ctrl+I. Enter the customer name. Enter the name of the group.

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Verify that2004 all other Show Me QuickBooks®

information is correct.

ByGail Perry

Click one of the save buttons. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Setting Up Reminders to Replenish Your Inventory If you didn't designate a reorder point when you set up your inventory items, now's the time to do so. Edit your inventory items and enter how many of each item you want to keep in stock. Then use the reminders list to send yourself messages to reorder. Every time the level • Table of Contents of an inventory item in stock drops below the reorder point, a reminder to reorder is added to • Index your reminders list. Show Me QuickBooks® 2004 ByGail Perry

Create a Reminder to Replenish Inventory Publisher: Que Pub Date: February 19, 2004

Select Item List from the Lists menu.

ISBN: 0-7897-3078-2 Pages: 320

Click the item for which you want to establish a reorder point. Press Ctrl+E. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software the reorder for small point. businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Click OK. tasks quick and simple.

View Reminders Select Reminders from the Company menu. Scroll down if necessary until you find the Inventory To Reorder reminder. Double-click Inventory to Reorder. All items that have passed their reorder point now appear.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing Inventory Reports You can produce several standard inventory reports in QuickBooks. You can then use these reports to keep track of how many items are on hand, the value of your inventory, and pricing information. A detailed description of each type of inventory report is included. • Tableyou of Contents Remember that can customize these reports to fit your needs, and you can export reports • to Microsoft Index Excel if you need to present reports in a format not supported by QuickBooks. Show Me QuickBooks® 2004 ByGail Perry

Prepare Inventory Reports Publisher: Que Pub Date: February 19, 2004

Select Inventory from the Reports menu; then open one of the following inventory ISBN: 0-7897-3078-2 reports:

Pages: 320

Inventory Valuation Summary Inventory Valuation Detail Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Stock by Itemmethod of training. Each task includes a screenquickly andInventory visually with thisStatus user-friendly by-screen visual accompanied by a concise text description that makes performing everyday Inventory Stock Status by Vendor tasks quick and simple. Physical Inventory Worksheet Pending Builds

See Also See "Customizing Reports" on page 290 for information on manipulating QuickBooks reports so they display the information you want to see in the manner want to see it. • in which you Table of Contents •

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que For Your Information Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

The Inventory Valuation Summary and Detail reports show the worth of each item Pages: 320 in your inventory, based on the average cost method. The reports also show what percentage of the total inventory each item accounts for, what the items retail for, and what percentage of the total retail value each item accounts for. The Inventory Stock Status reports list each item in inventory and tell you how manyMe areQuickBooks currently inhelps stock, how many on order, and when you can expect Show readers learnare visually how to perform tasks using thetoleading receive thesoftware orders. for small businesses. They are able to find answers to their questions accounting quickly and visually with this user-friendly method of training. Each task includes a screenThe Physical Inventory Worksheet report lists the inventory have set everyday by-screen visual accompanied by a concise textall description that items makesyou performing up for yourand company tasks quick simple.and provides a place where you can enter the quantity you actually have in stock. QuickBooks Premier and QuickBooks Enterprise Solutions users can take advantage of the Pending Builds report. This report, ideal for manufacturing companies, shows all transactions recorded as pending builds of assembly items.

Counting Your Inventory Although QuickBooks keeps meticulous records of the inventory you purchase and the sales you enter, differences will occur between the amounts entered during the year and the actual quantity of items on your shelves. The more frequently you count inventory, the more likely • Table of Contents you are to be aware of any loss or damage to your inventory. You should try to account for • Index material discrepancies between your book versus your actual inventory records. To assist you Show Me QuickBooks® in taking a physical 2004 inventory count, QuickBooks provides a Physical Inventory Worksheet that By Gailyou Perrycan print out and use while you count your inventory. In this example, the column that displays the QuickBooks count of inventory items is removed so the person making the physical count will be less inclined to rely on the computer-supplied numbers when counting Publisher: Que inventory. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Produce a Physical Inventory Count Worksheet Select Inventory from the Reports menu; then select Physical Inventory Worksheet. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading removefor thesmall On Hand column,They place the mouse pointer overtothe small diamond accountingTo software businesses. are able to find answers their questions to the right of the On Hand column heading. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and the simple. Drag diamond over the words On Hand, to the diamond on the left of the column heading. Release the mouse; the On Hand column disappears. Slide the diamonds as necessary so that the full text of each column is visible. Click the Print button. Click Print in the Print Reports window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Adjusting Inventory Quantities After you take a physical count of your inventory, you might find that some of your QuickBooks inventory records don't agree with the actual count at your business premises. You might need to make adjustments in the count recorded in QuickBooks. Check with your • Table of Contents company's accountant before making any adjustment in inventory quantities to ensure that • Index such an adjustment is accounted for properly. Some financial and tax considerations must be Show Me QuickBooks® 2004 such an adjustment. addressed when making ByGail Perry Publisher: Que Inventory Quantity Adjust the Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Item List from the Lists menu.

Pages: 320

Click the Activities button. Select Adjust Quantity/Value On Hand. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Enter visually the date with on thiswhich user-friendly you wantmethod the adjustment of training. to Each affecttask yourincludes financiala records. screenby-screen Often visual this type accompanied of adjustment by a concise is recorded text as description a year-end that adjustment. makes performing everyday tasks quick and simple. Enter the name of the account to which inventory adjustments should be made. For each inventory item that needs to be changed, enter the actual quantity on hand. QuickBooks calculates the change in quantity. Check this box if you want to see the dollar amount of the change. Enter an optional memo describing the reason for the adjustment. Click one of the save options.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Adjusting the Price of Inventory When you enter inventory items in QuickBooks, you have the option of entering the sales price for each item. Having this price recorded with the item can be a great timesaver. When the price for an item has already been entered, you don't have to remember prices when you • Table Contents create invoices forofcustomers because QuickBooks automatically enters the price information • for you. AndIndex here's an even greater timesaver: If you need to change the sales prices on any Show 2004items, you don't have to edit the items individually. Instead, you can or all Me of QuickBooks® your inventory bring up a window that shows all your inventory items and their prices and then go down the By Gail Perry list, making changes to any of the items. Or you can select the items to change and order QuickBooks to change everything at once by a certain markup or markdown percentage or Publisher: Que amount. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Adjust the Price of Inventory Select Item List from the Lists menu. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading the Activities accountingClick software for small button. businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Select visual Change accompanied by a concise text description that makes performing everyday Item Prices. tasks quick and simple. Click to place a check mark to the left of any individual item you want to change. Make the price change in the New Price column.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Alternatively, click Select All to change all the inventory items at once.

Did You Know? You can use the Select All feature, selectively. Save time by clicking Select All to select every item on the list. Then deselect certain items by clicking in the check mark column to remove the check mark on items you don't want to change.

Enter a percent or dollar amount by which you want to change the price of selected items. Use a minus sign if the change is to be a markdown instead of a markup. Select whether the price change is to be based on sales price (Current Price) or cost (Unit Cost). Click the Markup button (even if the change is to be a markdown). Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Chapter 15. Recording Your Assets What You'll Do • •

Reconcile to Your Bank Statement Table of Contents Index

Record Automatic Teller Withdrawals

Show Me QuickBooks® 2004 ByGail Track Perry

Petty Cash

Receive Credit Card Payments

Publisher: Que

Pub Date: February 19, 2004

Manage Accounts Receivable ISBN: 0-7897-3078-2

Record Pages: 320 Deposits Purchase Fixed Assets Calculate Depreciation ShowEnter Me QuickBooks helps readers learn visually how to perform tasks using the leading Depreciation accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenSell Fixed Assets by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction Anything your company owns that has value is considered to be an asset. Assets can be used in the production of income and are available to pay your company's debts. They include cash, investments, receivables, inventory, prepaid amounts, and fixed assets. •

Table of Contents

• Fixed assets Index are belongings of yours that are expected to last for more than a year and that Show Me QuickBooks® 2004 are used for the production of goods and services. The category of fixed assets includes such items as buildings, furniture, farm animals, vehicles, machinery, land, and mineral resources. By Gail Perry The management of fixed assets in your QuickBooks company file includes recording the cost of the assets and monitoring their use and deterioration through regular deductions of Publisher: Que depreciation. Pub Date: February 19, 2004

ISBN: 0-7897-3078-2 Use a depreciation expense account to record the current expense associated with the use of your fixed Pages:assets. 320 Rather than taking an expense deduction for the entire cost of the asset in the year in which it is acquired, accounting and tax rules require us to spread the cost of the asset over the asset's useful life, associating the cost of the asset with the income it produces over a period of years.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Reconciling to Your Bank Statement QuickBooks provides a reconciliation screen than enables you to quickly agree your cash transactions with those that appear on your monthly bank account statement. You sort your transactions in the same order in which they appear on the bank statement, going down the • of Contents list, checkingTable off each transaction that agrees with the bank statement, and correcting errors • if necessary.Index Show Me QuickBooks® 2004 ByGail Perry

Reconcile to Your Bank Statement Publisher: Que Pub Date: February 19, 2004

When your bank statement arrives, select Banking, Reconcile.

ISBN: 0-7897-3078-2 Pages: 320

Select the account for which you received a bank statement. Verify that the beginning balance matches the beginning balance on your bank statement. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Enter visually the ending with this balance user-friendly from your method bankof statement. training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter any service charge the bank applied to your account. Enter the date of the service charge. Enter the account where you track bank service charges. Enter any interest you earned on your bank account. Enter the date on which the interest was posted to your account. Enter the account where you track interest income. Click Continue. Click to check off all the items that appear on your bank statement. Click Reconcile Now.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? The reconciliation beginning balance should match the bank statement beginning balance. If a difference exists between the two amounts, you can choose to ignore the difference (if it is minimal) or find the discrepancy. Click Locate Discrepancies to view the previous reconciliation report and determine why your balance was not reconciled the previous month.

If you did not reconcile to the penny, this window appears. Enter the date on which you want the adjustment to be recorded. Click Enter Adjustment to have QuickBooks enter a reconciling adjustment in your register. Choose whether you want to see a detailed or summary reconciliation report, or both. Click Display to view the report onscreen.

Click Print if you want to print a copy of this report (recommended).

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can see only the last reconciliation report onscreen. Although QuickBooks enables you to look at your previous reconciliation report in case you need to resolve a discrepancy, you can go back only one report. If you might need to see earlier reconciliation reports, you should print the reports each month and save them.

Recording Automatic Teller Withdrawals If you use the automatic teller (ATM) feature at your bank to withdraw money, you need to record that transaction in QuickBooks. You need to have a cash account to which you can charge the withdrawal, such as Petty Cash or Drawer. Then the withdrawal is actually treated • Table of Contents like a transfer of funds from your bank account to your cash fund. •

Index

Show Me QuickBooks® 2004

Record an Automatic Teller Withdrawal ByGail Perry

Publisher: Que

Select Transfer Pub Date: February 19, 2004 Funds

from the Banking menu.

ISBN: 0-7897-3078-2 Pages:Enter 320

the date of the ATM withdrawal.

Enter the name of the bank account from which the money was withdrawn. Show Me QuickBooks Enter the name helps ofreaders the cash learn account visually you how use.to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenEnter the amount of the withdrawal. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter an optional memo. Click a save option.

See Also See "Transferring Money Between Accounts ," on page 197, for an example of recording the electronic transfer of money between accounts. •

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Tracking Petty Cash If your company keeps cash on the premises, be it a petty cash fund for incidental expenses or money for the cash register, you need to account for that money and for the way in which it is spent. By keeping track of the way in which this money is spent, you gain tighter control • of Contents on how yourTable company uses all its resources. Keep track of petty cash expenditures using a • Indexof recording activities. Keep a notebook or notepad with your petty cash regular method Show QuickBooks® 2004 fund,Me and have a procedure for authorizing petty cash expenditures. As the fund is depleted, reimburse By Gail Perry it with cash transfers from an existing bank account, as described in the previous example. Publisher: Que Pub Date: February 19, 2004

TrackISBN: Petty Cash 0-7897-3078-2 Pages: 320

Press Ctrl+A to open the Chart of Accounts. Double-click the Petty Cash (or whatever name you use) account to open the Show register. Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with of this user-friendly method of training. Each task includes a screenEnter the date a transaction by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the name of the person or company who was paid. Enter the amount of the expense. Enter the account that should be charged. Enter optional descriptive information. Click Record. Repeat steps 3–8 for each transaction you need to record.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Receiving Credit Card Payments If your customers pay you with credit cards, the credit card amount is deposited directly into your bank, much like a check. Later you might have to reconcile to record fees deducted by the credit card company. At the time you receive the credit card payment, you need to open • Table of Contents the Receive Payments window and record the payment, using the credit card information • Index customer. supplied by your Show Me QuickBooks® 2004 ByGail Perry

Receive Credit Card Payments Publisher: Que Pub Date: February 19, 2004

Select Receive Payments from the Customers menu.

ISBN: 0-7897-3078-2 Pages: 320

Enter the customer name. Select the type of credit card used. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software the credit for small cardbusinesses. number. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter the expiration date. tasks quick and simple. Verify the date of the payment. Enter the amount of the payment. Click to check the invoices to which this payment applies, adjusting the amounts if necessary. Click to group this with other undeposited funds. Click a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Recording Deposits As Assets Sometimes you might need to make a deposit to establish credit or as an advance or a reserve against future services you expect to receive. This type of deposit is considered an asset and should be recorded as such. Deposits of this nature technically belong to you and • ofof Contents increase theTable value the company. The first time you write a check for a deposit you might • Index need to set up a new account to track your company's deposits. Show Me QuickBooks® 2004 ByGail Perry

Record Deposits As Assets Publisher: Que Pub Date: February 19, 2004

Press Ctrl+W to open the Write Checks window.

ISBN: 0-7897-3078-2 Pages: 320

Enter the Payee information. Verify the date. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software the amount for small ofbusinesses. the deposit.They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter Deposits as the account name (or whatever name you choose for this asset). tasks quick and simple. If this is a new account, an Account Not Found window appears. Click Set Up. Select Other Current Asset as the type. Enter the name of the new account. Enter an optional description. Click OK. Complete the check and click a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Purchasing Fixed Assets When you purchase a fixed asset, you need to set up an account to keep track of the asset. You can create this fixed asset account by entering a new account in the Chart of Accounts. Or, if you use QuickBooks Pro, QuickBooks Premier, or QuickBooks Enterprise Solutions, you • Table Fixed of Contents can use the new Asset Manager to track more detailed information about the asset, its • Index purchase, and (if applicable) its ultimate sale. Show Me QuickBooks® 2004 ByGail Perry

Enter a Fixed Asset in the Chart of Accounts Publisher: Que Pub Date: February 19, 2004

Press Ctrl+A to open the Chart of Accounts; then press Ctrl+N to open the New ISBN: 0-7897-3078-2 Account window.

Pages: 320

Select Fixed Asset for the account type. Enter a name for this asset. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Check visually the with Subaccount this user-friendly box and enter method a subaccount of training.name Eachiftask this includes asset is to a screenbe by-screen categorized visual accompanied as a subaccount by aof concise another text account. description that makes performing everyday tasks quick and simple. Enter optional information in the description and note fields to provide additional information about the asset. If you plan to use QuickBooks to assist in your tax preparation, you might want to assign a tax line to this asset at this time. Depending on your type of business, the tax line might not be necessary for a fixed asset. If you're entering an asset you owned prior to creating your QuickBooks file, you can enter the beginning balance information. If you plan to enter the purchase of this asset separately, leave the opening balance field blank. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter a Fixed Asset in the Fixed Asset Item List Select Fixed Asset Item List from the Lists menu; then press Ctrl+N to open the New Item window. Enter a name for this asset.

Did You Know? It's wise to give fixed assets unique names. Although it's not a requirement that you assign unique names to your assets, you can more easily distinguish one from another when you give each asset a different name. Even if the names are simple, such as Desk 1, Desk 2, and Desk 3, when you look at a report of your assets, you know at a glance that you are looking at different assets and not a duplicate entry of the same asset.

Indicate whether the asset was new or used when you acquired it. Enter the asset description that appears on the bill you received from your vendor. Enter the date you acquired this asset. Enter the cost of the asset.

Enter the vendor from whom you purchased the asset. Enter the account where you will record the cost of the asset. Enter an optional description for the asset. •

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Enter Indexoptional information about the asset, including location, numbers, and Show Me warranty QuickBooks® expiration 2004 date, as well as optional notes. •

ByGail Perry

Click OK. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Calculating Depreciation The rules for computing depreciation are complicated. Therefore, this section is designed to provide an overview of the depreciation process but should not take the place of more thorough reading or the advice of an accounting professional. If you want to read more about • of Contents the Internal Revenue Service Publication 946, "How to Depreciate depreciation,Table I recommend • Index is available online at www.irs.gov or by calling the IRS at 1-800-TAX-FORM. Property," which Show Me QuickBooks® 2004

Most By Gail assets Perry are expensed for tax purposes using the Modified Accelerated Cost Recovery System (MACRS) method of calculating depreciation. Under MACRS, the cost of an asset is expensed over a period of years based on percentage tables reproduced in the publication Publisher: Que mentioned previously. The accelerated method of depreciation produces a greater expense in Date: February 19, 2004 the Pub earlier years of asset use. A different depreciation method, such as a straight-line ISBN: method, can0-7897-3078-2 be used for financial statement presentation. Pages: 320

Here are sample MACRS percentage tables for five-year and seven-year assets. Five-year assets include automobiles and trucks, computers, and other office equipment. Seven-year assets include office furniture and agricultural machinery and equipment. MACRS Depreciation Expense for Five-year Property: Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenYear Percentage by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. 1 20% 2

32%

3

19.2%

4

11.52%

5

11.52%

6

5.76%

MACRS Depreciation Expense for Seven-year Property:

Year

Percentage

1

14.29%

2

24.49%

3

17.49%

4

12.49%

5

8.93%

6

8.92%

7

8.93%

8

4.46%

Note: The previous tables employ the half-year convention. Under this convention, all property is treated as if it is acquired and disposed of at the midpoint of the year.

Entering Depreciation Depreciation expense is the current deduction for the allocation of the cost of a fixed asset cost, spread over the useful life of the asset. Use the general journal entry to enter depreciation in your accounting records. You might want to confer with your accountant • Table of entry Contents before making this because accountants often provide their clients with the entries • Index needed for recording depreciation. You can enter depreciation monthly, quarterly, or Show Me QuickBooks® 2004frequency of the depreciation entry coincides with the frequency with annually; typically, the which you issue financial statements for your company. By Gail Perry Publisher: Que

Enter Depreciation Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Select Make General Journal Entries from the Company menu.

Verify that the date and journal entry number are correct, and make any necessary changes. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software for small businesses. They aredepreciation able to find expense. answers to their questions the account you use for recording quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Enter and the simple. amount of the depreciation expense in the Debit column. Enter a brief, descriptive memo. Enter the asset account you use to record accumulated depreciation. Verify the accuracy of the credit amount that automatically appears. Click a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Making Journal Entries," on page 182, for information on using the general journal entry feature.

Did You Know? You probably won't use the Name column. The Name column is used for assigning journal entry amounts to specific customers. Unless you are charging this depreciation to a customer, you can leave the Name column of the journal entry blank.

Selling Fixed Assets When you sell a fixed asset, you need to record the income from the sale and remove the asset and associated accumulated depreciation from your company's financial records. You can use an invoice form to record the sale of a fixed asset, or you can enter the entire sales • Table ofjournal Contentsentry. If you use the Fixed Asset Manager, you should enter the event in a general • asset sale inIndex an invoice because that process ensures that the specific asset is removed from Show Me QuickBooks® 2004 your accounting records. ByGail Perry Publisher: Que Enter a Fixed Asset Sale on an Invoice Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Press Ctrl+I to open an invoice form.

Pages: 320

Verify the date and invoice number, and make any necessary changes. Enter the name of the customer who is purchasing the asset. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually in thewith Item this column; user-friendly then scroll method down of the training. Item list, Eachand task click includes the asset a screenyou by-screen wantvisual to sell. accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the sales price of the asset in the Amount column. Note, you might see a window informing you that the sales price in the fixed asset item differs from the sale price you entered here. Click Yes to close that window and continue with your transaction. Verify the tax status of this customer, and make any necessary changes to the name of the sales tax authority that appears. Click a save option. You might see a window informing you that the fixed asset item has not been updated to reflect the sale. Click Yes to update the item in your records.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Enter a Fixed Asset Sale in a Journal Entry Select Make General Journal Entries from the Company menu. Verify that the date and journal entry number are correct, and make any necessary changes. Enter the account you use for recording the deposit of cash, or enter your undeposited funds account. Enter the amount of money you received in the Debit column. Enter a brief, descriptive memo. Enter the asset account you used to record the cost of this asset. Enter the original cost of the asset in the Credit column. Enter the asset account you used to record the accumulated depreciation for this asset.

Enter the amount of depreciation you previously recorded for this asset as a debit. This might or might not be as much as the cost you entered in step 7. Enter the account you use to record the income or loss from the sale of fixed assets. If you have not yet created such an account, click the Add New option at the top of the account list and set up a new account. •

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QuickBooks automatically computes the income or loss from the sale of this asset.

Show Me QuickBooks® 2004 ByGail Perry

Click a save option.

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Setting Up Income Accounts ," on page 9, for information on creating a new account.

Chapter 16. Recording Owners' Equity What You'll Do • •

Understand the Opening Balance Equity Account Table of Contents Index

Record Owners' Draws

Show Me QuickBooks® 2004 ByGail Enter Perry

Prior Period Adjustments

Manage Retained Earnings

Publisher: Que

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Introduction When describing different types of accounts, the phrase net worth is often applied to the sum of a company's equity accounts. If you add up all the value of the company's assets (items the company owns) and then subtract the company's liabilities (amounts owed to others), • Table the of Contents you are left with net worth of the company, or its equity. •

Index

Show Me QuickBooks® 2004 Although you can take a shortcut and determine net worth by subtracting liabilities from assets, for a true understanding of net worth you need to examine the actual accounts that By Gail Perry make up the equity section of your company's balance sheet. Publisher: Que If your company is a corporation, you have a capital stock account that shows the face value, Pubvalue, Date: February 19, shares 2004 or par of stock the company has issued. In addition, you have a paid-in capital ISBN: 0-7897-3078-2 account, which is calculated by taking the difference between the amount actually paid for your company's Pages: 320 stock and the par value.

Capital accounts—including retained earnings, owner's capital, and draw accounts—represent the cumulative net earnings of the company, less any sharing of earnings that has already been paid to owners. Each year the company's capital account is increased by the company's net income and decreased by a variety of items, including dividends or other withdrawals Show Me QuickBooks helps readers learn visually how to perform tasks using the leading paid to shareholders or owners. accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method is ofthe training. Each task includes a screenThe strangest account, one unique to QuickBooks, opening balance equity account. by-screen visual accompanied by a concise text description that makes performing everyday Because QuickBooks is a double-entry bookkeeping program—meaning that for every number tasks quickthere and simple. you enter, is an offsetting number of the same amount in another account—and because QuickBooks allows you to enter numbers without identifying where the offsetting number is to be entered, the opening balance equity account exists. This account provides a temporary resting place for entries you make that have only one side. In this chapter, you'll learn what you can do with the numbers in the opening balance equity account.

Understanding the Opening Balance Equity Account Say, for example, that you enter an opening balance of $5,000 when you set up your cash account. QuickBooks puts $5,000 into your cash account, but it doesn't know where the offset of that $5,000 should go, so off it goes to the opening balance equity account. •

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Show Me QuickBooks® 2004

Examine the Opening Balance Equity Account ByGail Perry

View Publisher: Que

the contents of your opening balance equity account by pressing Ctrl+A to open your Chart of Accounts. Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages:Scroll 320

down until you see the opening balance equity account.

Click the account name. Show Me QuickBooks Click the Reports helps button. readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenSelect QuickReport Opening Bal Equity, or press Ctrl+Q. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Examine the report to determine in which accounts these amounts really belong. Typically, the amounts in the opening balance equity account belong in your company's retained earnings or other ownership equity account. Double-click any entry on the report to see the source of the entry.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Zero-Out the Opening Balance Equity Account Select Make General Journal Entries from the Company menu. Enter the date for this journal entry. Often the opening balance equity account is cleared at the end of the year in preparation for issuing financial statements. Enter Opening Balance Equity as the first account name. Enter as either a debit or credit, depending on your own account balance, the amount necessary to clear the opening balance equity account. Enter a brief memo description. Enter the account(s) to which you will transfer the amounts in the Opening Balance Equity account. Click one of the save options.

Your opening balance equity account now has a zero balance and will not appear on financial statements.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Recording Owners' Draws When owners take money out of a company that is not a corporation, the money is either classified as a loan or a draw. A draw account is an owner account that is increased by the earnings of the company and decreased by the amount of money the owner takes out of the • Table of Contents need to set up a draw account for each owner. You might want to company. Non-corporations • Indexequity for all owners and then a subaccount under the master account for create a master Show QuickBooks® 2004draw. Classify draw accounts as equity accounts. each Me individual owner's ByGail Perry

SetPublisher: Up aQue Draw Account Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Press Ctrl+A to open the Chart of Accounts.

Pages: 320

Press Ctrl+N to open the New Account window. Select Equity as the account type. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Enter visually a name withfor this the user-friendly account. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Indicate whether this is to be a subaccount of another account. Enter an optional description. Click OK to save the account.

Record an Owner's Withdrawal

Press Ctrl+W to open the check window. Verify that the correct cash account appears. Enter the name of the owner who is withdrawing money from the company. • •

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Enter Index the date.

Show Me QuickBooks® 2004 ByGail Perry Enter

the amount.

Publisher: Que

Enter the owner's draw account.

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Click Pages: 320

a save option.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Entering Prior Period Adjustments After you've issued your company's financial statements for the year, you're not supposed to go back and change the numbers. Shareholders and investors have the right to assume that your financial statements provide final numbers for the year and that those numbers won't • Tablepoint of Contents change at some in the future. But what if the numbers really do change? What if some • Index unforeseen information that invalidates some of the information on the financial statements Show Mein QuickBooks® 2004 comes after the financial statements have been issued? Or what if you simply made a material By Gail Perrymistake on last year's financials? Accounting rules permit a company to enter the change on the current year's financial statement by describing a prior period adjustment in the Publisher: equity section of the balance sheet. Thus, your balance sheet will show the balance in Que retained earnings at the beginning of the year, followed by the prior period adjustment to Pub Date: February 19, 2004 that balance. As for recording the adjustment in your QuickBooks file, you need to make a 0-7897-3078-2 journalISBN: entry to correct the accounts. In this example, a change in the value of the ending Pages: 320 the previous year has been discovered. inventory from

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Did You Know? accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenOnly onevisual line of descriptionby isanecessary. entering general journal by-screen accompanied concise textWhen description that makes performing everyday entries, theand topsimple. line of the description automatically carries through to all the lines tasks quick of the journal entry, even though you see only the top line displayed in the entry.

Enter Prior Period Adjustment Select Make General Journal Entries from the Company menu. Enter the date when this adjustment occurred. The date will be a current year date, not a prior year date. Enter the accounts affected by the adjustment (a capital account such as Retained Earnings will be one of the affected accounts). Enter the amount of the adjustment, offsetting the adjustment in the capital account. Enter a memo that describes the fact that this is a prior period adjustment. Click a save option.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Managing Retained Earnings Retained Earnings represents the accumulated net earnings of your company. The amount in this account changes at the end of each year. The total income less the total expenses for the year (net income) flows into this account. QuickBooks automatically places the net income in • of Contents the Opening Table Balance Equity account; then it transfers this amount to your retained earnings • Index account at year-end. How do you find out the amounts in your retained earnings account? Show QuickBooks® 2004 OpenMe the Chart of Accounts (Ctrl+A) and double-click Retained Earnings; QuickBooks advises you By Gailthat Perryno register is associated with this account. If you want to monitor the activity in your Retained Earnings account, you have to play a trick on QuickBooks and manipulate your account to see what adds up to the total in that account. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Manage Retained Earnings Pages: 320 Press Ctrl+A to open your Chart of Accounts. Click Retained Earnings select the account. Show Me QuickBooks helps readerstolearn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with Press Ctrl+E tothis edituser-friendly the account. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Change the name of the account. Click OK. Press Ctrl+N to create a new account. Select Equity for the account type. Enter Retained Earnings as the account name. Enter a beginning balance. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can change the name, but you can't hide the account. QuickBooks flags its original Retained Earnings account and places your year-end net income there, even if you change the name. You can create your own retained earnings account and use the register to view all the journal entries you make to this account. At year-end, make an entry to clear the net income out of the old, renamed Retained Earnings account and put it in your new retained earnings account.

Chapter 17. Recording Liabilities What You'll Do • •

ManageTable Accounts Payable of Contents Index

Record Payroll Tax Accruals

Show Me QuickBooks® 2004 ByGail Record Perry

Credit Cards

Account for Deposits or Retainers

Publisher: Que

Pub Date: February 19, 2004

Record Loans

ISBN: 0-7897-3078-2

Record Pages: 320 Loan Payments Use the QuickBooks Loan Manager The term liabilities refers to your company's debts. QuickBooks groups liabilities into four types of accounts: Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenAccounts payable— These are the bills you owe currently. by-screen visual accompanied by a concise text description that makes performing everyday tasksCredit quick and card— simple. This is the balance due on company credit cards. Other current liabilities— This represents payroll owed to employees, taxes payable, advances, deposits, subscriptions your customers have paid, loans from shareholders, and other debt you expect to pay back within one year. Long-term liabilities— These are debts that won't be paid back within the year. Some liabilities are paid quickly. Utilities, for example, are paid each month, and new bills come in to take their place. Other liabilities linger; mortgages stretch out over decades. Credit card balances, although constantly refreshed, might never seem to go away. Companies are required to report their liabilities on financial statements so investors and lenders have a clearer picture of the value of the company.

Managing Accounts Payable Amounts you owe your vendors, including subcontractors, are grouped under the heading of accounts payable. Most companies retire their accounts payable in 30–60 days. Amazingly, new payables are always ready to take the place of the ones you pay. When entering a • Table of Contents payable in QuickBooks, you are required to enter at least the name of the vendor and the • Index amount of the debt. If you take the time to enter payment terms, QuickBooks provides you Show Mereminder QuickBooks® 2004 the debt is due. with a of when ByGail Perry Publisher: Que Manage Accounts Payable Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Vendors & Payable from the Reports menu; then select A/P Aging Summary.

Pages: 320

Examine the report to see how much your company owes each vendor and how long overdue the payments are. Show Me QuickBooks readers learn visually howreport to perform using the interval leading is Change the helps interval for each column of the if the tasks default 30-day accounting software for small businesses. They are able to find answers to their questions not the information you want to see. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick Change and simple. the limit of 90 days if you need to see receivables older than this length of time. Double-click any amount to view a Quick-Zoom report showing all the bills that make up that amount. Double-click any bill amount on the Quick-Zoom report to see the actual bill. Press Esc to close each window.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also See "Using Reminders" on page 140 for information on the reminders QuickBooks uses to inform you of due dates for paying bills.

Did You Know? Bill amounts carry over to your financial statements. As soon as you enter a bill in QuickBooks, the expense increases your expense accounts and is incorporated into your company's income statement. The amount you owe is added to accounts payable and is incorporated into your company's balance sheet.

Recording Payroll Tax Accruals The taxes you withhold from your employees must be turned over to the government, and, as an employer, you have a responsibility to pay additional payroll taxes such as the employer's share of Social Security, Medicare, and unemployment taxes. Although these amounts are • of Contents owed to the Table government when you issue paychecks, the amounts might not be due • immediately.Index When your company owes payroll taxes, you have to create payroll tax liability Show Me QuickBooks® 2004 accounts to record the taxes that are due. If you use QuickBooks to calculate your payroll, the liabilities are recorded automatically. If you use an outside payroll service, you need to By Gail Perry record your payroll and payroll tax accruals yourself, as shown in this example. Publisher: Que Pub Date: February 19, 2004

Record Tax Accruals ISBN:Payroll 0-7897-3078-2 Pages: 320

Select Make General Journal Entries from the Company menu. Note that you might see an information window telling you about the QuickBooks automatic journal entry numbering feature. Click OK to close this window. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading the date of the payroll, which be different from the accountingEnter software for small businesses. Theymight are able to find answers todate theirthat questions automatically appears. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and the simple. Enter payroll expense account. Enter the gross payroll expense (total salaries and wages before withholdings) as a debit. Enter an optional memo. Enter the first tax liability account—for example, enter Federal withholding. Enter the amount of tax liability as a credit. Repeat steps 5 and 6 until all your tax liabilities have been entered. Enter the cash account from which the payroll is paid. Enter the net payroll expense (the amount of payroll actually paid out to employees after withholdings) as a credit. Save the journal entry.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know?

QuickBooks can enter payroll automatically. Although a journal entry like this is necessary if you outsource your payroll services, all these entries are made automatically if you prepare your payroll within QuickBooks.

Recording Credit Cards Does your company have a credit card? You can set up a credit card as a separate liability account in QuickBooks. The account can be a subaccount of another liability account, or it can stand alone as a separate item on your balance sheet. Each month, as you make charges, • of Contents you increaseTable the balance of your credit card liability. When you make payments on the • account, youIndex decrease the liability balance. QuickBooks provides the ability to reconcile your Show QuickBooks® 2004 month just as you do your bank account. creditMe card account every ByGail Perry Que SetPublisher: Up Credit Card Account Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Press Ctrl+A to open the Chart of Accounts list.

Pages: 320

Press Ctrl+N to open a New Account window. Select Credit Card for the Type. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Enter visually the name with this for user-friendly this credit card method account. of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Indicate whether you want this account to be a subaccount of another liability account. Enter optional description, account number, tax line, and opening balance information. Click OK.

Did You Know? It's your choice when you enter credit card charges. You can record charges as they are incurred or record them all at once when the monthly statement bestofaccounting practice, however, is to enter charges as they are • arrives. TheTable Contents incurred. • Index Show Me QuickBooks® 2004 ByGail Perry

Record Credit Card Charges Publisher: Que Pub Date: February 19, 2004

Select Make General ISBN: 0-7897-3078-2

Journal Entries from the Company menu.

Pages: 320

Enter the date of the charge. Enter the account to which the credit card charge should be recorded. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software for small They are able to find answers to their questions the amount ofbusinesses. the charge as a debit. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Enter description of the charge. tasks quick and a simple. Enter the credit card account. Save the journal entry.

Pay/Reconcile a Credit Card Account

Select Reconcile from the Banking menu. Enter the credit card for which you have received a statement. Enter the date of the statement. • •

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Enter Index the ending balance that appears on your statement.

Show Me QuickBooks® 2004 ByGail Perry Enter

any finance charge that appears on the statement.

Publisher: Que

Enter the date on which the finance charge was assessed.

Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Verify Pages: 320

the account to which the finance charge should be recorded.

Click Continue.

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Check off all the items that appear on your credit card statement. These items are drawn from entries you have entered into your QuickBooks file through journal entries and payments.

Did You Know? You can leave the reconciliation and finish later. If you forgot to enter some charges and want to do so before reconciling, click the Leave button, enter your charges, and begin the reconciliation again.

If the beginning balance on the credit card bill doesn't match your beginning balance, click the Modify button to view the previous reconciliation and make corrections.

Click Reconcile Now to complete the reconciliation. This window appears if a difference exists between the statement balance and the sum of the items you checked off in step 9. Click here to return to the reconciliation if you want to identify the difference. •

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Index Click here if you want to leave the reconciliation to enter additional charges or

Show Me QuickBooks® 2004continuing. payments before ByGail Perry

Click here to instruct QuickBooks to enter an adjustment for the unreconciled amount. Note: The adjustment is recorded in the Opening Balance Equity account; at Pubsome Date: February 19, 2004 point you must create a journal entry to reclassify this adjustment to another ISBN: 0-7897-3078-2 account.

Publisher: Que

Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Select whether you want to issue a check or record the credit card bill as a payable. Click OK. Select the type(s) of reconciliation report you want to produce.

Click here to display the report(s) onscreen. Click here to print a paper copy of the report(s). Click here if you don't want to see or print the report(s). •

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QuickBooks creates a check if you requested payment by check. Verify the Index information on the Show Me QuickBooks® 2004 check, and indicate whether it is to be printed or paid online. •

ByGail Perry

Save the check. Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Accounting for Deposits or Retainers Depending on which type your company is, you might receive advances, deposits, or retainers from your customers or clients. Although this money has been paid to you, it is for future services and has not yet been earned. Therefore, instead of recording the money as • of Contents income, the Table payments you receive should be recorded as liabilities. After you perform the • services andIndex earn the money, you transfer the liability to an income account. Show Me QuickBooks® 2004 ByGail Perry

Account for Deposits or Retainers Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

See Also See "Receiving Advances and Down Payments " on page 91 for information on the proper method for recording the receipt of a deposit or retainer. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenGeneral by Journal Entries the Company menu.performing everyday by-screen Select visual Make accompanied a concise textfrom description that makes tasks quick and simple. Verify that the correct date appears. Enter the liability account where you recorded a deposit. Enter the amount you are ready to transfer to income. This entry should be a debit. Enter an optional memo. Enter the customer or client who made the deposit. Enter the income account where you record the money you earned for this job. Save the entry.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Recording Loans When you borrow money, you need to record as an asset the receipt of cash or the item you purchased on credit, and you must record the liability that offsets that asset. If the loan will be paid in full within a year, it is a current liability. If the payback period will be longer than • Table of Contents one year, a long-term liability exists. This example shows how to set up a long-term loan. •

Index

Show Me QuickBooks® 2004

Record a Loan ByGail Perry

Publisher: Que

Press Ctrl+A to open Pub Date: February 19, 2004

the Chart of Accounts list.

ISBN: 0-7897-3078-2 Pages:Press 320

Ctrl+N to open the New Account window.

Select Long Term Liability as the account type. Show Me QuickBooks Enter a name helps for the readers loan.learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenIndicate whether this is to be classified as a subaccount. by-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter a description for the loan. Enter an optional account number and tax line for the loan. Click OK.

Did You Know? The name you give the loan is the name that appears on your balance sheet. Account names appear on your financial statements exactly as you enter sureofyou choose the name carefully. The loan name appears on your • them, so beTable Contents balance sheet unless the loan is a subaccount of another liability, in which case the • Index parent account appears on your balance sheet. Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Recording Loan Payments When you make payments on your loan, part of the payment reduces the loan balance and part is expensed as interest. Write a check to the lender, noting both parts of the payment. See the accompanying text for information on calculating interest. •

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Show Me QuickBooks® 2004

Record a Loan Payment ByGail Perry

Select Publisher: Que

Write Checks from the Banking menu.

Pub Date: February 19, 2004 ISBN:Verify 0-7897-3078-2 the account

from which the payment will be drawn.

Pages: 320

Enter the payee. Enter the date of the payment. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions Enter the amount of the payment. quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the loan liability account. Enter the amount of the payment that will reduce the loan balance. Enter the expense account where you record interest paid by your company. Verify the amount that QuickBooks calculated for interest (the difference between the check total and the amount in step 7). Select whether this is to be an online payment or if a check is to be printed. Save the check.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Using the QuickBooks Loan Manager You can simplify your loan payments using the Loan Manager that comes with your QuickBooks program. Enter basic information about your loan, including the starting date, interest rate, number of payments you will make, and amount you will pay; QuickBooks takes • Table ofhow Contents care of calculating much of each payment is principal and interest. When it's time to • Index open the Loan Manager and click the Set Up Payment button to initiate a make a payment, Show Me QuickBooks® 2004 and principal recorded correctly. payment with the interest ByGail Perry Publisher: Que Use the QuickBooks Loan Manager Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Loan Manager from the Banking menu.

Pages: 320

Click the Add A Loan button. Enter the liability account where the loan balance is recorded. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Enter visually the name with this of the user-friendly lender. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Enter the date on which the loan was initiated. Enter the principal balance. Enter the number of payments you will make. Enter the frequency with which you will make payments. Click Next. Enter the due date of the next payment. Enter the payment amount. Enter the number of the next payment. Enter the payment frequency. Enter escrow payment information if applicable. Check here if you want a 10-day advance warning of the payment due date. Click Next.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? Escrow payments increase the amount of the loan payments. Mortgages are the most common type of loan that include escrow payments. Escrow payments are payments made to a separate fund that is held by the lending institution and used to pay such items as property taxes and insurance.

Enter the interest rate. Enter the frequency with which interest is compounded. Enter the account from which payments will be drawn. Enter the account in which interest expense should be recorded. Enter the account in which any bank fees or service charges should be recorded.

Click Finish. Click the Payment Schedule tab to see a detailed list of how your payments will be recorded.

•

Click Set Up Payment to open the check window and issue a payment for this loan. Table offills Contents QuickBooks out the check with the proper interest and principal disbursement.

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Show Me QuickBooks® 2004

Return to the Loan Manager and click Set Up Payment each time you are required to make a payment on the loan.

ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? QuickBooks offers only two compounding options. When entering the compounding period, your only choices are Monthly and Exact Days. Monthly interest is calculated and compounded once each month. A lender that uses the Exact Days method compounds interest daily, based on either 360 or 365 days in an annual cycle.

Chapter 18. Preparing the Top Ten QuickBooks Reports • What You'llTable Do of Contents •

Index

SetQuickBooks® Reports & Graphs Show Me 2004

Preferences

ByGail Perry

Prepare an Income Statement

Publisher: Quea Prepare

Balance Sheet

Pub Date: February 19, 2004

Prepare a Trial Balance ISBN: 0-7897-3078-2 Pages: 320

Prepare a General Ledger Report Prepare a Budget Report Prepare a Sales Tax Liability Report Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Prepare a Payroll Report accounting software forLiability small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenPrepare an Accounts Receivable Aging text Summary Report by-screen visual accompanied by a concise description that makes performing everyday tasks quick and simple. Prepare a Job Progress Report Prepare Accounts Payable Aging Detail Customize Reports Memorize a Customized Report

Introduction QuickBooks is all about reports. All the information you enter on forms and registers and journal entries is stored in QuickBooks, waiting for you to pull it back out in reports. • Table of Contents Use reports to show potential lenders and investors why they should commit funds to your • Index company. Use reports to supply your accountant with information necessary to prepare tax Show Meand QuickBooks® 2004 forms, use reports to compare your company's actual performance with the budget. Use reports to keep track of who owes you money and to whom you owe money. By Gail Perry

QuickBooks comes with a large collection of reports to help you understand your business. ThePublisher: reportsQue sampled here are some of the most commonly used. You can customize all the Pub Date: February QuickBooks reports19, so2004 they display exactly the information you need. ISBN: 0-7897-3078-2

Here are some Pages: 320 basic report rules: Even though each type of report has certain features unique to it, some rules apply to every report. These rules are listed here so they don't have to be repeated with the description of each report that appears in this chapter: Click the Print button to print a paper copy of it. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software small to businesses. are able todocument find answers to theirthat questions Double-click anfor amount drill down They to the original supporting amount. quickly andmouse visually with this user-friendly method training. Each task capability includes aexists. screenYour pointer appears like a Z for zoom of when this drill down by-screen visual accompanied by a concise text description that makes performing everyday tasksDrag quickthe anddiamond simple. at the right of a title to resize it. Click the Hide Header button to hide the screen display of a header and thus display more of the report. Hiding the header does not affect the print version of the report—the header still appears there. After a header is hidden, click Show Header to redisplay the header on the screen. Click the Collapse button to collapse the display of subaccounts and show only parent accounts on a report. The Collapse button changes to Expand. Click the Expand button to redisplay subaccounts. Press Ctrl+M to memorize a report you have customized. See Chapter 7, "Using Timesaving Features," for more information on the QuickBooks memorization feature.

Setting Reports & Graphs Preferences Make some basic decisions up front about how your reports and graphs should appear and you won't have to think about these choices every time you open a report. Each QuickBooks user at your company can set personal report preferences, and some company-wide • Contentsaccessible by all users. preferences Table affectofreports •

Index

Show Me QuickBooks® 2004

Set Personal Reports & Graphs Preferences ByGail Perry

Publisher: Que

Select Preferences Pub Date: February 19, 2004

from the Edit menu.

ISBN: 0-7897-3078-2 Pages:Click 320

the Reports & Graphs icon.

Click the My Preferences tab. Show Me QuickBooks Select a refresh helpsoption readers to indicate learn visually whether howyou to perform want a report tasks to using update the leading accounting automatically software when for small you businesses. make a change. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Check here if you like your graphs in two-dimensional style instead of the default tasks quick and simple. three-dimensional. Check here to produce graphs in shades of black, gray, and white instead of full color. This is the best choice if you plan to print graphs on a black-and-white printer. Check here if you always want the customizing options to appear when you view reports. Click OK, or see the next task.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Set Company-Wide visual accompanied Reports by a concise & Graphs text description Preferences that makes performing everyday tasks quick and simple. If the Preferences window is not already open, select Preferences from the Edit menu. Click the Reports & Graphs icon. Click the Company Preferences tab. Select whether to present reports on a cash basis or an accrual basis. Select whether you prefer aging reports such as the Accounts Receivable Aging Report aged from the invoice due date or the transaction date. Indicate how you want account names and descriptions displayed on reports. Click here to select which accounts you want to include in your Statement of Cash Flows. Click here to make format choices for your report.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. Check off each item that should normally appear on your reports. Enter your company name the way you want it to appear on reports. Click the arrow to select from several date styles. Click the arrow to select from several page styles. Click the Fonts & Numbers tab to set preferences for font style and number presentation on your reports. Click a report element. Click here to change the font selection for the selected title. Select a preference for displaying negative numbers. Check this box to show report amounts divided by 1,000. Check this box to omit zero amounts from reports. Check this box to display amounts without cents. Click OK to close all preference windows.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing an Income Statement The income statement, also known as the Profit & Loss Statement, shows all revenue and expenses for a designated period of time. You won't see individual transactions on this report, but you can drill down with a couple of mouse clicks to see the detail that supports • of Contents each amountTable on this report. •

Index

Show Me QuickBooks® 2004

Prepare an Income Statement ByGail Perry

Publisher: Que

Select Company Pub Date: February 19, 2004

& Financial from the Reports menu.

ISBN: 0-7897-3078-2 Pages:Select 320

Profit & Loss Standard from the side menu.

Click the arrow to select a time period for this report. Show Me QuickBooks Alternatively, helps enter readers a specific learn range visually of dates. how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenClick the Export button and then select A New Excel Workbook to transfer the by-screen visual accompanied by a concise text description that makes performing everyday report to Excel. For example, you might want to run some what-if scenarios or tasks quick and simple. manipulate the numbers in ways not available in QuickBooks.

Did You Know? Accounts of the same type appear alphabetically. You can change the order of accounts by rearranging them in the Chart of Accounts or by preparing the • Table of Contents report using account numbers, in which case accounts appear numerically by type. •

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing a Balance Sheet The balance sheet is a summary of the balances in all asset, liability, and equity accounts as of a particular date. The balance sheet and the income statement are the two most common reports given to lenders and investors. These two reports, especially when viewed over time, • Table of Contents speak volumes about how a company is performing. •

Index

Show Me QuickBooks® 2004

Prepare a Balance Sheet ByGail Perry

Publisher: Que

Select Company Pub Date: February 19, 2004

& Financial from the Reports menu.

ISBN: 0-7897-3078-2 Pages:Select 320

Balance Sheet Standard from the side menu.

By default, QuickBooks prepares balance sheets as of today's date. Change the date at the top of the report if you want a balance sheet as of a different date. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingClick software the drop-down for small businesses. arrow in theThey Columns are able fieldtotofind present answers the to balance their questions sheet quickly information and visually bywith month, this quarter, user-friendly or another method designation. of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

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Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Did You Know? You can produce a balance sheet with a two-year comparison. If you want to see how your balance sheet compares with the same time period in the previous year, select Balance Sheet Prev Year Comparison from the Reports, Company & Financial menu.

Preparing a Trial Balance The trial balance lists all your accounts of every type. The current balances in those accounts are displayed in debit and credit columns, with the total of all debits equaling the total of all credits. This report provides a quick opportunity to see the balance of every account as of a • Table of Contents particular date without having to open separate reports for income statement accounts and • Index balance sheet accounts. Show Me QuickBooks® 2004 ByGail Perry

Prepare a Trial Balance Publisher: Que Pub Date: February 19, 2004

Select Accountant & Taxes from the Reports menu.

ISBN: 0-7897-3078-2 Pages: 320

Select Trial Balance from the side menu. Set the date as of which you want to see your accounts displayed. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing a General Ledger Report The general ledger is considered by many to be the company financial bible. This report lists the details of every transaction, in every account, for the designated time period. You might want to print your general ledger monthly or quarterly and keep it in a permanent location • Table of Contents for researching past transactions. •

Index

Show Me QuickBooks® 2004

Prepare a General Ledger Report ByGail Perry

Publisher: Que

Select Accountant Pub Date: February 19, 2004

& Taxes from the Reports menu.

ISBN: 0-7897-3078-2 Pages:Select 320

General Ledger from the side menu.

Select a date or range of dates for this report. By default, the report is presented for the current month to date. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing a Budget Report Refer to a budget report to see how your company's performance is measuring up to the budget. You can choose to display the budget vs. actual differences by percent or by amount or both. You can also produce this report with prior year information included. •

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Index

Show Me QuickBooks® 2004

Prepare a Budget Report ByGail Perry

Select Publisher: Que

Budgets from the Reports menu.

Pub Date: February 19, 2004 ISBN:Select 0-7897-3078-2 Budget

vs. Actual from the side menu.

Pages: 320

If you have developed more than one budget for your company, select the budget you want to use for this report. Show Me QuickBooks Click Next. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Indicate how you want the budget presented. An account listing by month is the default selection.

Click Next. Click Finish in the last budget report setup window. Select the time period you want to use for this report. •

Table of Contents

Select Indexthe columns you want to view in this report.

•

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing a Sales Tax Liability Report For companies that pay sales tax, the sales tax liability report is a quick reference for all the information you need to enter on your monthly or quarterly sales tax forms. Set the date range for the sales tax you are about to pay, and presto! You can fill out your sales tax form • instantly. Table of Contents •

Index

Show Me QuickBooks® 2004

Prepare a Sales Tax Liability Report ByGail Perry

Publisher: Que

Select Vendors Pub Date: February 19, 2004&

Payables from the Reports menu.

ISBN: 0-7897-3078-2 Pages:Select 320

Sales Tax Liability from the side menu.

Select the time period that matches the time period for the sales tax form you have to fill out. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingEnter software information for small from businesses. this report They onto are your ablestate to find or local answers government to their questions sales tax quickly form. and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

See Also SeeChapter 6, "Collecting and Paying Sales Tax," for information on how to record all types of sales tax transactions. •

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•

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing a Payroll Liability Report Chances are, you either use QuickBooks to prepare your payroll, in which case QuickBooks can also produce your federal payroll tax forms, or you use an outside payroll service and it produces the forms for you. If you use QuickBooks for your payroll, you still need to obtain • Table of Contents information for filling out state and local payroll tax forms. This payroll tax report should give • Index you everything you need. In this example, we look at the detail behind the company's liability Show Me QuickBooks® 2004 tax. for state unemployment ByGail Perry Publisher: Que Prepare a Payroll Liability Report Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Employees & Payroll from the Reports menu.

Pages: 320

Select Payroll Liability Balances from the side menu. Set the dates at the top of the report for the period for which you are paying Show payroll Me QuickBooks taxes. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen Double-click visual accompanied any amount by a to concise get the text detail description behind that amount. makes performing everyday tasks quick and simple. Examine the detail so you understand the source of the tax liability.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing an Accounts Receivable Aging Summary Report The accounts receivable aging reports provide insight into how timely your customer • Table of Contents payments are received. The aging summary report shows outstanding balances arranged by • Indexand divided into time periods: amounts due currently, 1–30 days overdue, customer name Show Medays QuickBooks® 2004 31–60 overdue, 61–90 days overdue, and more than 90 days overdue. ByGail Perry

Prepare an Accounts Receivable Aging Summary Report Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Customers & Receivables from the Reports menu.

Pages: 320

Select A/R Aging Summary from the side menu. You can change the interval from 30 days to 60 or whatever is more common in Show your Me QuickBooks business. helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenmany days totext include in the report. If youperforming select 120,everyday for by-screen Select visual how accompanied byoverdue a concise description that makes example, a 30-day interval, the report displays a new column for 91–120 and then tasks quick and with simple. a column for >120.

Did You Know? You can see the details of all accounts receivable in a single report. • Instead of selecting Table of Contents A/R Aging Summary, select A/R Aging Detail in step 2 to see • every overdue Index invoice instead of a summary listing by job. Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing a Job Progress Report What progress are you making on a particular job? If your company prepares estimates, you can produce a job progress report to show the original estimate, the amount of work billed to date, and the percentage of each job that has been billed. •

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Index

Show Me QuickBooks® 2004

Prepare a Job Progress Report ByGail Perry

Select Publisher: Que

Jobs, Time & Mileage from the Reports menu.

Pub Date: February 19, 2004 ISBN:Select 0-7897-3078-2 Job Progress

Invoices vs. Estimates from the side menu.

Pages: 320

Change the time period if the default year-to-date option is not what you want to view. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Preparing Accounts Payable Aging Detail See exactly how much your company owes, and to whom, with this comprehensive payables report. The report begins with all bills that are payable but not yet due. Scroll down to see every bill that is 1–30 days overdue, 31–60, 61–90, and more than 90 days overdue. Notices • Table of Contents of items received are included in this report, even if the related bill has not yet arrived. • Double-clickIndex any amount to see the details of the payable. Show Me QuickBooks® 2004 ByGail Perry

Prepare Accounts Payable Aging Detail Publisher: Que Pub Date: February 19, 2004

Select Vendors & Payables from the Reports menu.

ISBN: 0-7897-3078-2 Pages: 320

Select A/P Aging Detail from the side menu. By default, this report is produced as of today. Change the date if you want to see payables as of a different date. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Change visually the with interval this user-friendly if you want to method see payables of training. grouped Eachby task something includes other a screenthan by-screen 30-day visual segments. accompanied by a concise text description that makes performing everyday tasks quick and simple.

Customizing Reports The Modify Report button appears on the top of every report you produce in QuickBooks. Use this button to change standard reports into reports that provide exactly the information you need. Select the accounts, columns, header information, and style for any report you • Table of Contents produce. When you're satisfied with your changes, you can memorize the report for easy • Index retrieval later. In this example, we start with the Open Invoices report and produce a Show Me QuickBooks® 2004shows only invoices with balances over $1,000. streamlined report that ByGail Perry Publisher: the Que Dates and Columns on a Report Change Pub Date: February 19, 2004 ISBN: 0-7897-3078-2

Select Customers & Receivables from the Reports menu.

Pages: 320

Select Open Invoices from the side menu. Make any change in the report date right on the report screen. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and Click visually the Modify with this Report user-friendly button. method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple. You can also make changes to the report date here. Check or uncheck any columns you want to add or remove from the report.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Change the Report Filters With a report open, click the Modify Report button; then click the Filters tab. Choose how you want to filter the report. In this example, only customer balances over $1,000 are included on the final report. Click the report feature for which you want to set filters. The Account feature has been selected in this example. Set the criteria for your filter. The criteria options differ depending on the feature you choose for filtering.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick andthe simple. Customize Report Header and Footer With a report open, click the Modify Report button; then click the Header/Footer tab. Check or uncheck any titles, headers, and footers you want to include or exclude from the report. Using drop-down arrows, change the style of the date prepared or page number if you are including this information with your report. Enter information in the white fields to change information that appears on the report. Click the Fonts & Numbers tab. Click any report title to view the current font selection. Click the Change Font button to change the font style and size of the selected title. Make any desired changes in the appearance of negative numbers on the report. Check here if you want to show numbers divided by 1,000. Check here if you want to omit cents from the report. Click OK.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Save Time by Placing Favorite Reports on the Shortcut List If you use the QuickBooks Shortcut List, you can easily add your favorite reports to the list • Table of and then retrieve a Contents report with a single click. •

Index

Display Shortcut List (select View, Shortcut List from the menu), and then open the Show Me your QuickBooks® 2004 report you want to add to the Shortcut List. ByGail Perry Click the QuickAdd button at the bottom of the Shortcut List. Publisher: Que

When Pub prompted, Date: Februarygive 19, 2004 your report a memorable name, and click the OK button. ISBN: 0-7897-3078-2

The report name is added to the Reports section of your Shortcut List. Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

Memorizing a Customized Report When you take the time to set specific dates, introduce filters, and customize the header and footer of a report, it seems a shame to close the report window and not be able to return to that report without customizing a report all over again. Instead of starting from scratch each • Table Contents time you want to of view a special report, save the report with the QuickBooks memorization • Index recall the report from the QuickBooks menu whenever you want to see it. feature and then Show Me QuickBooks® 2004 ByGail Perry

Memorize a Customized Report Publisher: Que Pub Date: February 19, 2004

Customize a report as described in the previous tasks.

ISBN: 0-7897-3078-2 Pages: 320

Click the Memorize button to save this report style for future use. Enter a name for your memorized report. Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accountingCheck software herefor to small save the businesses. report in They a particular are ablegroup. to findThis answers step is tooptional. their questions If you quickly don't and save visually thewith report this in user-friendly a group, the method memorized of training. report appears Each task on includes the Reports a screenmenu by-screen under visual Memorized accompanied Reports byand a concise before text report description groups appear. that makes performing everyday tasks quick and simple. Select the group where the report will be saved. Click OK. In the future, retrieve your report by selecting Reports, Memorized Reports.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] 1099 forms (IRS) processing 2nd 3rd 4th

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Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] accessing tax reports 2nd 3rd 4th 5th 6th 7th 8th accounting preferences companies setting 2nd 3rd accounts •

Table of Contents • Chart of Accounts Index 2nd 3rd Show adding Me QuickBooks® 2004 numbering ByGail Perry effect on financial statements numbering of 2nd 3rd Publisher: Que tax lines Pub Date: February assigning 2nd 3rd 19, 4th 2004 accountsISBN: payable 0-7897-3078-2 agingPages: detail reports 320 preparing 2nd checks voiding from previous year 2nd voiding in current year 2nd early payment discounts 2nd 3rd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading management of 2nd 3rd accounting software for small businesses. They are able to find answers to their questions accounts receivable quickly and visually with this user-friendly method of training. Each task includes a screenaging summary reports by-screen visual accompanied by a concise text description that makes performing everyday preparing 2nd 3rd tasks quick and simple. bad debts 2nd 3rd tracking 2nd unpaid invoices collection letter creation 2nd viewing 2nd activating audit trails 2nd inventory 2nd 3rd online bank accounts 2nd 3rd adding accounts to Chart of Accounts 2nd 3rd customer information 2nd 3rd inventory items 2nd items on-the-fly method 2nd 3rd purchase forms 2nd 3rd sales forms 2nd 3rd memorized transactions to Icon Bar 2nd transactions to groups 2nd vendors additional information 2nd address information 2nd address information employees entry of 2nd addresses vendors adding 2nd adjusting inventory prices 2nd 3rd inventory quantities 2nd 3rd

administrators company financial password assignments 2nd 3rd 4th 5th company financials setting up 2nd 3rd advance payments recording 2nd 3rd aging detail reports (accounts payable)

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preparation of 2nd

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aging summary reports (accounts receivable) Show Me QuickBooks® 2004 preparation of 2nd 3rd By Gail Perry alerts Reminders feature 2nd assets Publisher: Que balance sheets Pub Date: February 19, 2004 report preparation 2nd 3rd ISBN: 0-7897-3078-2 deposits Pages: 320 recording as 2nd fixed assigning passwords 2nd 3rd 4th 5th ATM withdrawls

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading recording 2nd accounting software for small businesses. They are able to find answers to their questions audit trails quickly and2nd visually with this user-friendly method of training. Each task includes a screenactivating by-screen visual accompanied by a concise text description that makes performing everyday reports taskscreating quick and simple. automatic teller machines, [SeeATM withdrawls]

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] Back-Up command (File menu) backups company files creating 2nd 3rd restoring 2nd 3rd

• online data backup Table service of Contents •

cost 2nd 3rd Index

bad debts Show Me QuickBooks® 2004 accounts receivable ByGail Perry recording as 2nd 3rd balance sheets Publisher:2nd Que preparing 3rd Date: February 19, 2004 bankPub statements reconciling ISBN: 2nd 0-7897-3078-2 3rd BankingPages: menu commands 320 Make Deposits Setup Accounts For Online Access Write Checks 2nd batch printing invoices 2nd 3rd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading billing accounting software for small businesses. They are able to find answers to their questions timer data quickly and visually with this user-friendly method of training. Each task includes a screento customers 2nd 3rd by-screen visual accompanied by a concise text description that makes performing everyday bills tasks quick and simple. preferences

setting 2nd vendors early payment discounts 2nd 3rd paying 2nd 3rd Budget command (Reports menu) Budget Overview command (Reports menu) budgets creating 2nd 3rd 4th reports preparing 2nd 3rd producing

[SYMBOL] [A] [B] [C] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] calculating depreciation expenses fixed assets 2nd inventory value first in, first out (FIFO) method

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last in, first out (LIFO) method Table of Contents

•

specific identification method Index

capital stock accounts Show Me QuickBooks® 2004 par value ByGail Perry cash sales recording 2nd 3rd Publisher: Que charging Pub Date: February 19, 2004 customers expenses ISBN: 0-7897-3078-2 2nd 3rd 4th salesPages: taxes 320 to customers 2nd Chart of Accounts accounts adding 2nd 3rd chart of accounts

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading credit cards accounting software for small businesses. They are able to find answers to their questions reconciling 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenrecording charges 2nd by-screen visual accompanied by a concise text description that makes performing everyday setting up 2nd 3rd tasks quick and simple. draw accounts

recording owner withdrawls setting up 2nd fixed assets naming guidelines fixed assets account entering 2nd 3rd 4th 5th liabilities recording deposits/retainers 2nd 3rd Chart of Accounts opening chart of accounts opening balance equity accounts 2nd viewing 2nd zeroing-out 2nd retained earnings managing 2nd Chart of Accounts command (Lists menu) 2nd check register payments recording 2nd 3rd checks preferences setting 2nd 3rd printing 2nd 3rd voiding from previous year 2nd voiding in current year 2nd writing 2nd 3rd Checks command (Print Forms menu) 2nd 3rd classes forms multiple use of 2nd setting up 2nd clients

billing times recording closing year-end company records 2nd 3rd collapsing subaccounts in reports columns

• •

reports

Table of Contents

changing 2nd

Index

resizing Show Me QuickBooks® 2004 commands ByGail Perry Banking menu Make Deposits Setup Accounts For Online Access Publisher: Que Write Checks 2nd Pub Date: February 19, 2004 Company menu ISBN: 0-7897-3078-2 Make General Journal Entries 2nd Pages: 320 Planning & Budgeting Set Up Users 2nd Write Letters Customers menu Create Credit Memos/Refunds

ShowCreate Me QuickBooks helps readers learn visually how to perform tasks using the leading Estimates accounting software for small businesses. They are able to find answers to their questions Create Invoice quickly and visually Create Invoices 2nd with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Create Statements tasksEnter quick and simple. Sales Receipts Receive Payments Edit menu Pereferences Preferences 2nd 3rd Employees menu Pay Employees Payroll Services File menu Back-Up Print Forms Restore Lists menu Chart of Accounts 2nd Customer & Vendor Profile Lists Employee List Item List Payroll Item List Templates Vendor List 2nd 3rd 4th Print Forms menu Checks 2nd 3rd Reports menu Budget Budget Overview Company & Financial Customers & Receivables 2nd Employees & Payroll Inventory Vendors & Payable Vendors menu Create Purchase Orders Pay Bills 2nd Purchase Orders List

Receive Items 2nd Sales Tax Vendor Detail Center companies accounting preferences setting 2nd 3rd accounts

• •

adding 2nd 3rd

Table of Contents

assigning tax lines 2nd 3rd 4th

Index

numbering of 2nd 3rd Show Me QuickBooks® 2004 accounts payable ByGailaging Perrydetail reports 2nd accounts receivable aging summary reports 2nd 3rd Publisher: Que tracking 2nd Pub Date: February 19, 2004 administrators ISBN: 0-7897-3078-2 setting up for financial access 2nd 3rd Pages: 320 audit trails activating 2nd report creation bad debts recording 2nd 3rd

Show Mesheets QuickBooks helps readers learn visually how to perform tasks using the leading balance accounting for small businesses. They are able to find answers to their questions preparingsoftware 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenbilling preferences by-screen visual accompanied by a concise text description that makes performing everyday setting 2nd tasks quick and simple. budget reports preparation of 2nd 3rd budgets creating 2nd 3rd 4th reports, creating capital stock accounts par value checks preferences 2nd 3rd printing 2nd 3rd voiding from previous year 2nd voiding in current year 2nd writing 2nd 3rd classes multiple use on forms 2nd setting up 2nd collection letters creating 2nd credit card payments receiving 2nd customer lists setting up (EasyStep Interview) 2nd customers adding 2nd 3rd expense charges 2nd 3rd 4th daily transactions checklist, monitoring 2nd deposits recording as assets 2nd depreciation expenses fixed assets draw accounts recording owner withdrawls setting up 2nd

estimates creating 2nd 3rd factors 2nd invoicing against 2nd 3rd 4th 5th 6th 7th preferences, setting 2nd 3rd progress reports, displaying 2nd 3rd revising 2nd

• •

expense accounts

Table of Contents

setting up (EasyStep Interview) 2nd 3rd

Index

files Show Me QuickBooks® 2004 backups, creating 2nd 3rd ByGailbackups, Perry restoring 2nd 3rd online data backup service 2nd 3rd opening 2nd Publisher: Que 3rd 4th 5th finance charges Pub Date: February 19, 2004 preferences, setting 2nd 3rd ISBN: 0-7897-3078-2 financial information Pages: 320 entering 2nd 3rd 4th 5th financial statements prior period adjustments 2nd 3rd 4th fixed assets depreciation expenses

Showpurchasing Me QuickBooks readers learn visually how to perform tasks using the leading 2nd 3rd 4thhelps 5th accounting software for small businesses. They are able to find answers to their questions forms quickly and visually customizing 2nd 3rd with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday general ledger reports taskspreparation quick and simple. of 2nd general preferences setting 2nd income accounts setting up (EasyStep Interview) 2nd 3rd income statements preparing 2nd 3rd inventory activating 2nd 3rd groups, creating 2nd item additions 2nd item modifications 2nd items, setting up 2nd 3rd manufactured 2nd physical counts of 2nd 3rd price adjustments 2nd 3rd quantity adjustments 2nd 3rd replenishment reminders 2nd 3rd reports preparation valuation methods 2nd 3rd 4th inventory items setting up (EasyStep Interview) 2nd 3rd 4th invoices batch emailing batch printing 2nd 3rd creating 2nd 3rd discounts 2nd 3rd discounts for early payments 2nd emailing 2nd 3rd payment terms, creating 2nd 3rd printing 2nd 3rd unpaid status, viewing 2nd jobs progress reports, displaying 2nd 3rd

progress reports, filtering 2nd setting up 2nd 3rd 4th 5th 6th 7th 8th jobs progress reports preparing 2nd journal entries creating in General Journal 2nd liabilities

• •

accounts payable 2nd 3rd 4th

Table of Contents

credit card purchases 2nd 3rd 4th 5th 6th 7th 8th 9th

Index

current Show Me QuickBooks® 2004 deposits for future goods/services 2nd 3rd ByGailloans, Perrypaying 2nd loans, recording 2nd 3rd long-termQue Publisher: payroll accruals 2nd 3rd Pub Date:tax February 19, 2004 mailing labels ISBN: 0-7897-3078-2 creating 2nd 3rd Pages: 320 monthly statements creating 2nd 3rd net worth calculating opening balance equity accounts 2nd

Showviewing Me QuickBooks helps readers learn visually how to perform tasks using the leading 2nd accounting software for small businesses. They are able to find answers to their questions zeroing-out 2nd quickly and visually with this user-friendly method of training. Each task includes a screenpayments by-screen visual accompanied by a concise text description that makes performing everyday advances 2nd 3rd taskscash quick and sales 2nd simple. 3rd depositing 2nd 3rd down 2nd 3rd receiving for invoices 2nd payrolls liability reports 2nd petty cash tracking 2nd purchase order preferences setting 2nd purchase orders creating 2nd 3rd item additions 2nd item display 2nd 3rd recording receipt of goods 2nd 3rd refunds issuing to customers 2nd retained earnings managing 2nd sales taxes charging customers 2nd early payment discounts 2nd 3rd items, creating 2nd 3rd liability reports 2nd monthly reports 2nd 3rd paying 2nd 3rd preferences, setting 2nd 3rd rates, setting 2nd sales of tax exempt items 2nd 3rd 4th 5th send forms preferences, setting 2nd 3rd trial balances preparing 2nd users

removing 2nd setting rights access levels 2nd 3rd 4th 5th vendor preferences setting 2nd vendors adding 2nd 3rd 4th 5th bill payment 2nd 3rd 4th 5th 6th

• •

setting up (EasyStep Interview) 2nd 3rd

Table of Contents

viewing information 2nd 3rd

Index

year-end records Show Me QuickBooks® 2004 closing 2nd 3rd By Gail Perry Company & Financial command (Reports menu) Company menu Make General Journal Entries 2nd Publisher: Que Company menu commands Pub Date: February 19, 2004 Planning & Budgeting ISBN: 0-7897-3078-2 Set Up Users 2nd Pages: 320 Write Letter composing collection letters 2nd compounding options interest on loans

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading configuring accounting software for income accounts 2nd 3rd 4thsmall 5th 6thbusinesses. They are able to find answers to their questions quickly and visually inventory items 2nd 3rdwith 4th this user-friendly method of training. Each task includes a screenby-screen QuickBooksvisual accompanied by a concise text description that makes performing everyday tasksEasyStep quick and simple. Interview 2nd 3rd 4th 5th connections (Internet) online bank accounts activating 2nd 3rd advantages 2nd messages, sending money transfers 2nd online payments 2nd statements retrieval 2nd tranaction reports 2nd transaction matching 2nd 3rd preferences setting 2nd contractors time information exporting to timer 2nd 3rd recording 2nd 3rd counting inventory physical count method 2nd 3rd Create Credit Memos/Refunds command (Customers menu) Create Estimates command (Customers menu) Create Invoice command (Customers menu) Create Invoices command (Customers menu) 2nd Create Purchase Orders command (Vendors menu) Create Statements command (Customers menu) creating audit trail reports income tax returns 2nd 3rd 4th 5th inventory groups 2nd inventory items 2nd 3rd invoices 2nd 3rd journal entries General Journal 2nd

mailing labels 2nd 3rd monthly sales tax reports 2nd 3rd monthly statements 2nd 3rd purchase orders 2nd 3rd sales tax items 2nd 3rd timed activities for timer 2nd 3rd 4th 5th credit card payments

• •

Table of Contents

receiving 2nd

Index

credit cards Show Me QuickBooks® 2004 liabilities ByGailpaying Perry 2nd 3rd recording 2nd 3rd 4th 5th current liabilities Publisher: Que loans Pub Date: February 19, 2004 recording 2nd 3rd ISBN: 0-7897-3078-2 Customer & Vendor Profile Lists command (Lists menu) Pages: 320 Customer menu commands Receive Payments customers accounts receivable aging summary reports 2nd 3rd

Showtracking Me QuickBooks helps readers learn visually how to perform tasks using the leading 2nd accounting software for small businesses. They are able to find answers to their questions advance payments quickly and 2nd visually with this user-friendly method of training. Each task includes a screenreceiving 3rd by-screen bad debts visual accompanied by a concise text description that makes performing everyday tasksrecording quick and simple. 2nd 3rd billing times applying to invoices 2nd 3rd cash payments deposits of 2nd 3rd receiving 2nd 3rd collection letters creating 2nd credits issuing 2nd down payments receiving 2nd 3rd estimates creating 2nd 3rd factors 2nd invoicing against 2nd 3rd 4th 5th 6th 7th revising 2nd expenses charging 2nd 3rd 4th charging to 2nd 3rd 4th finance charges setting 2nd 3rd information adding 2nd 3rd invoices batch emailing batch printing 2nd 3rd creating 2nd 3rd discounts 2nd 3rd discounts for early payment 2nd emailing 2nd 3rd printing 2nd 3rd receiving payments 2nd unpaid status, viewing 2nd

jobs expense/revenue tracking 2nd 3rd miscellaneous information 2nd payment information 2nd specific information mailing labels creating 2nd 3rd

• •

monthly statements

Table of Contents

creating 2nd 3rd

Index

preferences Show Me QuickBooks® 2004 setting 2nd 3rd ByGail Perry setting up 2nd tax exempt items sale of 2nd 3rd 4th 5th Publisher: Que Customers & Receivables command Pub Date: February 19, 2004 (Reports menu) 2nd Customers menu commands ISBN: 0-7897-3078-2 Create Credit Memos/Refunds Pages: 320 Create Estimates Create Invoice Create Invoices 2nd Create Statements Enter Sales Receipts

Show Me reports QuickBooks helps readers learn visually how to perform tasks using the leading customized accounting for small businesses. They are able to find answers to their questions memorizingsoftware 2nd quickly and visually with this user-friendly method of training. Each task includes a screencustomizing by-screen accompanied by a concise text description that makes performing everyday forms 2nd visual 3rd tasks quick and simple. QuickBooks company data entry 2nd 3rd 4th 5th reports column modifications 2nd date changes 2nd filter changes footer alterations 2nd header alterations 2nd

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] dates reports changing 2nd deductions employees

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payroll deduction 2nd Table ofamounts Contents

deleting •

Index

entries on lists 2nd 3rd2004 Show Me QuickBooks® deposits ByGail Perry recording 2nd 3rd recording as assets 2nd Publisher:asQue recording liabilities 2nd 3rd Pub Date: February 19, 2004 depreciation expenses fixed ISBN: assets0-7897-3078-2 calculation methods 2nd Pages: 320 entering 2nd 3rd desktop view preferences screen resolution changes setting 2nd 3rd dialog boxes

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Preferences accounting software for small businesses. They are able to find answers to their questions account numbering options 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenCompany Preferences tab 2nd by-screen visual accompanied by a concise text description that makes performing everyday desktop view options 2nd 3rd tasks quick and simple. My Preferences tab 2nd 3rd

discount items discounts early bill payments 2nd 3rd invoices issuing 2nd 3rd issuing for early payments 2nd sales taxes early payment of 2nd 3rd down payments recording 2nd 3rd downloading IRS Form W-4 IRS forms 2nd state tax forms 2nd draw accounts owner withdrawls recording setting up 2nd drill down capabilities reports

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] early payment discounts (bills) 2nd 3rd EasyStep Interview customers setting up 2nd expense accounts

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configuring 2nd 3rd Table of Contents

• income accounts Index 2nd 3rd 2004 Show configuring Me QuickBooks® inventory items ByGail Perry configuring 2nd 3rd 4th QuickBooks Publisher: Que2nd 3rd 4th 5th configuring Pub Date: February 19, 2004 restarting stopping ISBN: 0-7897-3078-2 vendors Pages: 320 setting up 2nd 3rd Edit menu commands Preferences 2nd 3rd 4th editing inventory items 2nd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading emailing accounting software for small businesses. They are able to find answers to their questions invoices 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenbatches of by-screen visual accompanied by a concise text description that makes performing everyday Employee List command (Lists menu) tasks quick and simple. employees

address information entry of 2nd deductions setting 2nd federal tax information configuring 2nd mailing labels creating paychecks preparing 2nd 3rd summary reports, viewing year-to-date liability reports, viewing payroll information configuring 2nd payroll taxes paying via IRS Form 941 2nd personal information entry of 2nd preferences setting 2nd 3rd sick/vacation time setting 2nd state/local tax information configuring 2nd time information exporting to timer 2nd 3rd recording 2nd 3rd unemployment compensation taxes paying via IRS Form 940 2nd versus independent contractors W-2 forms processing 2nd W-3 forms

processing 2nd 3rd year-to-date payroll amounts entry of 2nd 3rd year-to-date payroll payments entry of 2nd Employees & Payroll command (Reports menu) Employees menu commands

• •

Pay Employees

Table of Contents

Payroll Services

Index

Enter Sales Receipts command (Customers menu) Show Me QuickBooks® 2004 entries ByGail lists Perry deleting 2nd 3rd hiding 2nd 3rd Publisher: Que merging 2nd 3rd 19, 2004 Pub Date: February equity accounts ISBN: 0-7897-3078-2 balance sheets Pages: 320 report preparation 2nd 3rd escrow payments estimated taxes paying 2nd estimates

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading (jobs) accounting for small businesses. They are able to find answers to their questions creating 2ndsoftware 3rd quickly factorsand 2nd visually with this user-friendly method of training. Each task includes a screenby-screen preferencesvisual accompanied by a concise text description that makes performing everyday taskssetting quick2nd and 3rdsimple. progress invoicing 2nd 3rd percentage of 2nd selected items only 2nd progress reports displaying 2nd 3rd revising 2nd executing online bill payments 2nd expenditures vendor bills paying 2nd 3rd 4th 5th 6th expense accounts configuring 2nd 3rd expenses jobs tracking 2nd 3rd petty cash tracking 2nd exporting time information to timer 2nd 3rd timer data to QuickBooks 2nd 3rd

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] federal payroll taxes employee settings 2nd File menu commands Back-Up Print Forms

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Restore

files •

Table of Contents Index

backups Show Me QuickBooks® 2004 creating 2nd 3rd ByGail Perry restoring 2nd 3rd company information Publisher: Que 3rd 4th 5th opening 2nd Pub Date: 19, 2004 online data February backup service 2nd 3rd filtering ISBN: 0-7897-3078-2 progress report Pages: 320 criteria 2nd filters reports changing finance charges preferences

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading setting 2nd accounting software for small businesses. They are able to find answers to their questions financial statements quickly and visually with this user-friendly method of training. Each task includes a screenaccount numbers by-screen visual accompanied by a concise text description that makes performing everyday sorting of tasks quick and simple. prior period adjustments entering 2nd 3rd 4th first in, first out (FIFO) method inventory valuation fixed assets categories chart of accounts entries 2nd 3rd 4th 5th depreciation expenses calculation methods 2nd entering 2nd 3rd Modified Accelerated Cost Recovery System (MACRS) depreciation expense calculation 2nd naming guidelines purchasing 2nd 3rd 4th 5th sales entering in general journal entries 2nd entering on invoice 2nd selling 2nd 3rd 4th 5th FOB (free on board) footers reports changing 2nd Form 1040 (IRS) individuals Form 1065 (IRS) partnerships Form 1096 (IRS) Form 1099 (IRS) processing 2nd 3rd 4th Form 1120 (IRS) taxable corporations Form 1120S (IRS)

S corporations Form 940 (IRS) unemployment compensation taxes paying 2nd Form 941 (IRS) payroll taxes paying 2nd Form 990 (IRS)

• •

Table of Contents

tax-exempt organizations

Index

Form 990-PF (IRS) Show Me QuickBooks® 2004 foundations By Gail990-T Perry(IRS) Form tax-exempt organizations FormPublisher: W-2 (IRS)Que processing Pub Date: 2nd February 19, 2004 Form W-3 (IRS)0-7897-3078-2 ISBN: processing 2nd 3rd Pages: 320 Form W-4 (IRS) downloading forms customizing 2nd 3rd IRS

ShowForm Me 1096 QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for5th small businesses. They are able to find answers to their questions Form 1099 2nd 3rd 4th quickly and Form 940 visually 2nd 3rd with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday Form 941 2nd 3rd tasksForm quick simple. W-2and 2nd 3rd Form W-3 2nd 3rd 4th Form W-4 multiple classes setting up 2nd forms (IRS) downloading 2nd income tax returns Form 1040 Form 1065 Form 1120 Form 1120S Form 990 Form 990-PF Form 990-T selecting 2nd 3rd foundations IRS Form 990-PF Fun With Taxes Web site state forms downloads 2nd funds online bank accounts transferring 2nd

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] General Journal journal entries creating 2nd general journal entries depreciation expenses

•

entering 2nd 3rdof Contents Table

• fixed assets Index sales of 2nd2004 Show entering Me QuickBooks® payroll tax accruals ByGail Perry recording 2nd 3rd general ledger reports Publisher:2nd Que preparing Pubpreferences Date: February 19, 2004 general companies ISBN: 0-7897-3078-2 setting Pages:2nd 320 personal setting 2nd 3rd 4th generating monthly sales tax reports 2nd 3rd purchase reports

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading from vendors 2nd accounting software for small businesses. They are able to find answers to their questions goods quickly and visually with this user-friendly method of training. Each task includes a screenpurchase orders by-screen visual accompanied by a concise text description that makes performing everyday recording receipt of 2nd 3rd tasks quick and simple. graphs

preferences setting 2nd 3rd 4th 5th 6th group items groups inventory items creating 2nd groups of transactions adding to 2nd memorizing 2nd 3rd

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entries on lists 2nd of 3rdContents Table

•

report headers Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] Icon Bar memorized transactions adding 2nd implementing memorized transactions 2nd 3rd income •

Table of Contents • Form 1099 (IRS) Index 2nd 3rd 4th Show processing Me QuickBooks® 2004 income accounts ByGail Perry configuring 2nd 3rd income statements Publisher:2nd Que preparing 3rd Pubtax Date: February 19, 2004 income returns creating ISBN: 2nd0-7897-3078-2 3rd 4th 5th estimated taxes Pages: 320 paying 2nd forms Form 1040 Form 1065 Form 1120

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Form 1120S accounting software for small businesses. They are able to find answers to their questions Form 990 quickly and visually with this user-friendly method of training. Each task includes a screenForm 990-PF by-screen visual accompanied by a concise text description that makes performing everyday Form 990-T tasks quick and simple. selecting 2nd 3rd

tax lines assigning to accounts 2nd 3rd 4th tax reports accessing 2nd 3rd 4th TurboTax 2nd independent contractors Form 1099 (IRS) processing 2nd 3rd 4th versis employees installing timer 2nd interest charges loans compounding options Internet connections online bank accounts activating 2nd 3rd advantages 2nd messages, sending money transfers 2nd online payments 2nd statements retrieval 2nd transaction matching 2nd 3rd transaction reports 2nd service preferences setting 2nd Intuit online data backup service cost 2nd 3rd Intuit Remote Access feature activating cost inventory

activating 2nd 3rd FOB (free on board) groups creating 2nd items adding to 2nd editing 2nd

• •

setting up 2nd 3rd

Table of Contents

manufactured

Index

recording 2nd Show Me QuickBooks® 2004 physical counts of 2nd 3rd ByGail Perry prices adjusting 2nd 3rd quantities Publisher: Que adjusting 2nd 3rd 19, 2004 Pub Date: February replenishment reminders ISBN: 0-7897-3078-2 setting 2nd 3rd Pages: 320 reports preparing tax exempt items sales of 2nd 3rd 4th 5th valuation methods

Showfirst Mein,QuickBooks first out (FIFO)helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions last in, first out (LIFO) quickly andidentification visually with this user-friendly method of training. Each task includes a screenspecific method by-screen visual(Reports accompanied by a concise text description that makes performing everyday Inventory command menu) tasks quick inventory itemsand simple. configuring 2nd 3rd 4th inventory part items invoices batches emailing printing 2nd 3rd billing time applying 2nd 3rd creating 2nd 3rd credits issuing 2nd emailing 2nd 3rd fixed assets sales entries 2nd issuing against estimates 2nd 3rd percentage of 2nd selected items only 2nd monthly statements creating 2nd 3rd payment terms creating 2nd 3rd payments recording 2nd preferences setting printing 2nd 3rd unpaid bad debt status 2nd 3rd collection letter creation 2nd viewing 2nd IRS forms downloading 2nd

Form 1040 Form 1065 Form 1096 Form 1099 2nd 3rd 4th 5th Form 1120 Form 1120S Form 940 2nd 3rd

• •

Form 941 2nd 3rd

Table of Contents

Form 990 2nd

Index

Form 990-PF Show Me QuickBooks® 2004 Form W-2 2nd 3rd ByGailForm PerryW-3 2nd 3rd 4th Form W-4 selecting Que for income tax returns 2nd 3rd Publisher: Web site Pub Date: February 19, 2004 Form W-4 downloads ISBN: 0-7897-3078-2 Web sites Pages: 320 forms downloads 2nd IRS Web site depreciation resources issuing credits

ShowtoMe QuickBooks helps readers learn visually how to perform tasks using the leading customers 2nd accounting software for small businesses. They are able to find answers to their questions refunds quickly and visually with this user-friendly method of training. Each task includes a screento customers 2nd by-screen visual accompanied by a concise text description that makes performing everyday Item List command (Lists menu) tasks items quick and simple. information adding on-the-fly 2nd 3rd purchase forms adding 2nd 3rd purchase orders adding 2nd viewing 2nd 3rd sales forms adding 2nd 3rd sub-items designating 2nd 3rd types discount group inventory part non-inventory part other charge payment sales tax sales tax groups service subtotal

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•

preferences, setting 2nd 3rd Table of Contents

•

revising 2nd Index

expenses Show Me QuickBooks® 2004 tracking 2nd 3rd ByGail Perry miscellaneous information entering 2nd Publisher: Que payment information Pub Date: February 19, 2004 entering 2nd progress ISBN: reports 0-7897-3078-2 displaying 2nd 3rd Pages: 320 filtering information 2nd revenues tracking 2nd 3rd specific information entering

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading time information accounting software for small businesses. They are able to find answers to their questions exporting ti timer 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenrecording 2nd 3rd by-screen visual accompanied by a concise text description that makes performing everyday timed activities tasks quick and simple. creating (timer) 2nd 3rd 4th 5th

jobs progress reports preparation of 2nd journal entries creating 2nd

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] last in, first out (LIFO) method inventory valuation liabilities accounts payable management of 2nd 3rd

• balance sheets Table of Contents report preparation Index 2nd 3rd

•

credit purchases 2004 Show Mecard QuickBooks® paying 2nd 3rd ByGail Perry recording 2nd 3rd 4th 5th current Publisher: Que goods/services deposits for future Pub Date: February entry as 2nd 3rd 19, 2004 loans ISBN: 0-7897-3078-2 paying Pages:2nd 320 recording 2nd 3rd setting up (Loan Manager) 2nd 3rd 4th 5th long-term payroll tax accruals recording 2nd 3rd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading payrolls accounting software for small businesses. They are able to find answers to their questions report preparation 2nd quickly and visually with this user-friendly method of training. Each task includes a screensales taxes by-screen visual accompanied by a concise text description that makes performing everyday report preparation 2nd tasks quick and simple. lists

entries deleting 2nd 3rd hiding 2nd 3rd merging 2nd 3rd printing 2nd 3rd sorting 2nd 3rd Lists menu commands Chart of Accounts 2nd Customer & Vendor Profile Lists Employee List Item List Payroll Item List Templates Vendor Lists 2nd 3rd 4th Loan Manager loans setting up 2nd 3rd 4th 5th loans escrow payments interest compounding options liabilities current versus long-term 2nd 3rd long-term versus current 2nd 3rd paying 2nd payments recording 2nd recording 2nd 3rd setting up (Loan Manager) 2nd 3rd 4th 5th long-term liabilities loans recording 2nd 3rd

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] mailing labels creating 2nd 3rd Make Deposits command (Banking menu) Make General Journal Entries command (Company menu) 2nd manufacturing inventory

•

recording 2nd Table of Contents

matching •

Index

transactions Show Me QuickBooks® 2004 online bank statements 2nd 3rd ByGail Perry memorized transactions adding to Icon Bar 2nd Publisher: Que implementing 2nd 3rd Pub Date:2nd February 19, 2004 modifying removing ISBN:2nd 0-7897-3078-2 memorizing Pages: 320 reports customized 2nd transactions 2nd 3rd 4th groups of 2nd 3rd merging

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading entries on lists 2nd 3rd accounting software for small businesses. They are able to find answers to their questions messages quickly and visually with this user-friendly method of training. Each task includes a screenonline bank accounts by-screen visual accompanied by a concise text description that makes performing everyday sending tasks quick and simple. Modified Accelerated Cost Recovery System (MACRS) depreciation expense calculation 2nd modifying memorized transactions 2nd recurring transactions 2nd monitors screen resolution changing monthly statements creating 2nd 3rd multiple classes forms creating 2nd

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] naming fixed assets chart of accounts net worth calculating non-inventory part items • Table of Contents numbering • Index accounts 2nd 3rd Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] on-the-fly additions item information 2nd 3rd online bank accounts activating 2nd 3rd advantages 2nd

• funds •

Table of Contents

transferring 2nd Index

messages Show Me QuickBooks® 2004 sending ByGail Perry payment process 2nd transaction reports Publisher: retrievingQue 2nd Pub Date: February 19, 2004 online bank statements retrieving ISBN:2nd 0-7897-3078-2 transaction matching 2nd 3rd Pages: 320 online bill payments executing 2nd online data backup service cost 2nd 3rd opening

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading timer data accounting software for small businesses. They are able to find answers to their questions in QuickBooks 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenopening balance equity accounts 2nd by-screen visual accompanied by a concise text description that makes performing everyday retained earnings tasks quick and simple. recording 2nd

viewing 2nd zeroing-out 2nd other charge items

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] partnerships IRS Form 1065 passwords assigning 2nd 3rd 4th 5th Pay Bills command (Vendors menu) 2nd Pay (Employees menu) • Employees command Table of Contents paychecks • Index employees Show Me QuickBooks® 2004 preparing 2nd 3rd ByGail Perry payroll summary reports viewing Publisher: Que year-to-date liability reports Pub Date: February 19, 2004 viewing paying ISBN: 0-7897-3078-2 bills Pages: 320 from vendors 2nd 3rd 4th 5th 6th credit card accounts 2nd 3rd loans 2nd payroll taxes via IRS Form 941 2nd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading sales taxes 2nd 3rd accounting software for small businesses. They are able to find answers to their questions discounts for early payments 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenunemployment compensation taxes by-screen visual accompanied by a concise text description that makes performing everyday via IRS Form 940 2nd tasks quick and simple. payment items

payment terms invoices creating 2nd 3rd payments advance type receiving 2nd 3rd cash receiving 2nd 3rd check register recording 2nd 3rd depositing 2nd 3rd discounts issuing 2nd 3rd 4th 5th down type receiving 2nd 3rd invoices recording 2nd refunds issuing 2nd transacting for online bank accounts 2nd payroll deductions setting 2nd employee information configuring 2nd federal tax information configuring 2nd paychecks preparing 2nd 3rd summary reports, viewing year-to-date liability reports, viewing preferences setting 2nd

records saving 2nd sick/vacation time setting 2nd state/local tax information configuring 2nd tax forms

• •

Form 1096 (IRS)

Table of Contents

Form 1099 (IRS)

Index

Form 940 (IRS) 2nd 3rd Show Me QuickBooks® 2004 Form 941 (IRS) 2nd 3rd ByGailForm PerryW-2 (IRS) 2nd 3rd Form W-3 (IRS) 2nd 3rd 4th Form W-4 (IRS) Publisher: Que taxes Pub Date: February 19, 2004 paying IRS Form 941 2nd ISBN:via 0-7897-3078-2 time information Pages: 320 exporting to timer 2nd 3rd recording 2nd 3rd time tracking preferences, setting 2nd 3rd unemployment compensation taxes

Showpaying Me QuickBooks helps via IRS Form 940 2nd readers learn visually how to perform tasks using the leading accounting W-2 forms software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenprocessing 2nd by-screen W-3 forms visual accompanied by a concise text description that makes performing everyday tasksprocessing quick and 2nd simple. 3rd year-to-date amounts entry of 2nd 3rd year-to-date payments entry of 2nd Payroll Item List command (Lists menu) Payroll Services command (Employees menu) payroll tax accruals recording 2nd 3rd payrolls liability reports preparing 2nd personal general preferences setting 2nd 3rd 4th personal information employees entry of 2nd petty cash tracking 2nd physical inventory counts 2nd 3rd Planning & Budgeting command (Company menu) preferences accounting setting 2nd 3rd billing setting 2nd checks setting 2nd 3rd customers setting 2nd 3rd desktop views setting 2nd 3rd employees setting 2nd 3rd

estimates setting 2nd 3rd finance charges setting 2nd 3rd general company settings 2nd personal style 2nd 3rd 4th

•

graphs

Table of Contents

setting 2nd 3rd 4th 5th 6th

•

Index

invoices Show Me QuickBooks® 2004 setting ByGail jobs Perry setting 2nd 3rd payroll Publisher: Que setting Pub Date:2nd February 19, 2004 purchase orders ISBN: 0-7897-3078-2 setting 2nd Pages: 320 Reminders feature company settings 2nd personal settings 2nd reports setting 2nd 3rd 4th 5th 6th

Show sales Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions setting 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screensend forms by-screen visual setting 2nd 3rd accompanied by a concise text description that makes performing everyday tasks simple. time quick trackingand (payroll) setting 2nd 3rd vendors setting 2nd Preferences command (Edit menu) 2nd 3rd 4th Preferences dialog box account numbering options 2nd 3rd Company Preferences tab 2nd desktop view options 2nd 3rd My Preferences tab 2nd 3rd prices inventory items adjusting 2nd 3rd Print Forms command (File menu) Print Forms menu commands Checks 2nd 3rd printing checks 2nd 3rd preference setting 2nd 3rd invoices 2nd 3rd batches of 2nd 3rd lists 2nd 3rd reports prior period adjustments entering 2nd 3rd 4th processing Form 1099 (IRS) 2nd 3rd 4th W-2 forms 2nd W-3 forms 2nd 3rd profit & loss statements, 2nd 3rd [See income statements] progress invoicing 2nd 3rd percentage of 2nd selected items only 2nd progress reports

estimates displaying 2nd 3rd jobs displaying 2nd 3rd information filtering 2nd purchase forms items

• •

adding 2nd 3rd

Table of Contents

adding on-the-fly 2nd 3rd

Index

sub-item creation 2nd 3rd Show Me QuickBooks® 2004 purchase orders ByGail Perry2nd 3rd creating items adding 2nd Publisher: Que recording receipt of19, 2nd 3rd Pub Date: February 2004 viewing 3rd ISBN: 2nd 0-7897-3078-2 preferences Pages: 320 setting 2nd Purchase Orders Lists command (Vendors menu) purchase reports vendors generating 2nd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading purchasing accounting fixed assetssoftware 2nd 3rd 4thfor 5th small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q] [R ] [S] [T] [U] [V] [W] [Y] [Z] QuickBooks Enterprise Solutions 2nd QuickBooks Premier 2nd QuickBooks Web site 2nd trial version 2nd QuickStatements (online bank accounts)

•

retrieving 2nd Table of Contents

•

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] reating budgets 2nd 3rd 4th Receive Items command (Vendors menu) 2nd Receive Payments command (Customer menu) receiving

•

credit card payments Table of 2nd Contents

reconciling •

Index

bank 2nd 3rd Show Mestatements QuickBooks® 2004 credit card accounts 2nd 3rd ByGail Perry recording ATM withdrawls 2nd Publisher: Que deposits Pub 19, 2004 as Date: assetsFebruary 2nd manufacturing ISBN: 0-7897-3078-2 inventory 2nd payments Pages: 320 to check register 2nd 3rd payroll tax accruals 2nd 3rd time information to timer 2nd 3rd recurring transactions

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading modifying 2nd accounting software for small businesses. They are able to find answers to their questions scheduling 2nd 3rd 4th 5th quickly and visually with this user-friendly method of training. Each task includes a screenfrequency of 2nd by-screen visual accompanied by a concise text description that makes performing everyday refunds tasks quick and simple. issuing to customers 2nd

reminders inventory replenishment setting 2nd 3rd Reminders feature alerts 2nd entries viewing 2nd Reminders features company preferences setting 2nd personal preferences setting 2nd remote access feature activating cost removing memorized transactions 2nd users 2nd replenishment reminders inventory items setting 2nd 3rd reports accounts payable aging detail preparing 2nd accounts receivable aging summary preparing 2nd 3rd audit trails activating 2nd creating balance sheets preparing 2nd 3rd budget preparing 2nd 3rd

columns changing 2nd resizing customized memorizing 2nd dates changing 2nd

• •

drill down capabilities filters

Table of Contents Index

changing Show Me QuickBooks® 2004 footers ByGailchanging Perry 2nd general ledger preparingQue 2nd Publisher: headers Pub Date: February 19, 2004 changing 2nd ISBN: 0-7897-3078-2 hiding Pages: 320 income statements preparing 2nd 3rd income tax returns accessing 2nd 3rd 4th inventory

Showpreparing Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions jobs progress quickly and visually with this user-friendly method of training. Each task includes a screenpreparing 2nd by-screen visual accompanied by a concise text description that makes performing everyday memorizing tasks quick and simple. online bank accounts viewing transactions 2nd payroll liabilities preparing 2nd payroll summary viewing preferences setting 2nd 3rd 4th 5th 6th printing purchases generating 2nd sales tax liabilities preparing 2nd Shortcut List adding to 2nd subaccounts collapsing trial balances preparing 2nd uses year-to-date liability payroll viewing Reports menu commands Budget Budget Overview Company & Financial Customers & Receivables 2nd Employees & Payroll Inventory Vendors & Payable restarting QuickBooks EasyStep Interview Restore command (File menu)

restoring company files from backups 2nd 3rd retained earnings managing 2nd retainers recording as liabilities 2nd 3rd retrieving

• •

Table of Contents

online bank statements 2nd

Index

tranaction reports Show Me QuickBooks® 2004 online bank accounts 2nd By Gail Perry revenues jobs tracking 2nd Publisher: Que 3rd revising Pub Date: February 19, 2004 estimates ISBN:2nd 0-7897-3078-2 roducing Pages: 320 budget reports

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] S corporations IRS Form 1120S sales preferences setting 2nd 3rd Sales and Customers screen 2nd 3rd • Tablepreferences of Contents sales forms • Index items Show Me QuickBooks® 2004 adding 2nd 3rd ByGail Perry adding on-the-fly 2nd 3rd sub-item creation 2nd 3rd Que (Vendors menu) SalesPublisher: Tax command 19, 2004 salesPub tax Date: groupFebruary items sales taxISBN: items 0-7897-3078-2 sales taxes Pages: 320 agencies setting up customers charging 2nd early payments

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading discounts 2nd 3rd accounting software for small businesses. They are able to find answers to their questions exempt items quickly and visually with this user-friendly method of training. Each task includes a screenselling 2nd 3rd 4th 5th by-screen visual accompanied by a concise text description that makes performing everyday items tasks quick and simple. creating 2nd 3rd

liability reports preparing 2nd monthly reports producing 2nd 3rd paying 2nd 3rd preferences setting up 2nd 3rd rates setting 2nd saving payroll records 2nd scheduling recurring transactions 2nd 3rd 4th 5th frequency of 2nd screen resolition changing selling fixed assets 2nd 3rd 4th 5th tax emempt items 2nd 3rd 4th 5th send forms preferences setting 2nd 3rd sending messages online bank accounts service items Set Up Users command (Company menu) 2nd setting closing dates year-end transactions 2nd 3rd company preferences Reminders feature 2nd employee preferences 2nd 3rd employees

federal tax information 2nd payroll information 2nd sick/vacation time 2nd state/local tax information 2nd finance charges preferences 2nd 3rd Internet connection preferences 2nd

• •

payroll deductions 2nd

Table of Contents

payroll preferences 2nd

Index

personal preferences Show Me QuickBooks® 2004 Reminders feature 2nd ByGail Perry preferences bills 2nd customers 2nd 3rd Publisher: Que invoices Pub Date: February 19, 2004 purchase orders 2nd ISBN: 0-7897-3078-2 sales 2nd 3rd Pages: 320 vendors 2nd sales tax preferences 2nd 3rd sales tax rates 2nd send forms preferences 2nd 3rd

Show Mepreferences QuickBooks helps readers learn visually how to perform tasks using the leading spelling 2nd 3rd accounting software for small businesses. They are able to find answers to their questions setting up quickly classes and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday transaction tracking 2nd tasks quick2nd and simple. customers vendors 2nd 3rd Setup Accounts For Online Access command (Banking menu) shipping FOB (free on board) Shortcut List favorite reports adding to 2nd sick time employees setting 2nd sorting lists 2nd 3rd specific identification method inventory valuation spellchecking featur limitations of spelling preferences setting 2nd 3rd state tax forms downloading 2nd state/local payroll taxes employee settings 2nd stopping QuickBooks EasyStep Interview sub-items creating 2nd 3rd subaccounts reports collapsing subtotal items

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] tax lines accounts assigning 2nd 3rd 4th Chart of Accounts opening tax-exempt organizations • Table of Contents

•

IRS Form 990 Index

IRSMe Form 990-T Show QuickBooks® 2004 taxable corporations ByGail Perry IRS Form 1120 taxes Publisher: Que employees Pub Date: February 19,amounts 2004 2nd 3rd year-to-date payroll year-to-date ISBN: 0-7897-3078-2 payroll payments 2nd federal payroll information Pages: 320 employee settings 2nd forms Form 1096 Form 1099 2nd 3rd 4th 5th Form 940 2nd 3rd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading Form 941 2nd 3rd accounting software for small businesses. They are able to find answers to their questions Form W-2 2nd 3rd quickly and visually with this user-friendly method of training. Each task includes a screenForm W-3 2nd 3rd 4th by-screen visual accompanied by a concise text description that makes performing everyday Form W-4 (IRS) tasks quick and simple. payroll

paying via IRS Form 941 2nd sales tax agency setup charging customers 2nd early payment discounts 2nd 3rd exempt items 2nd 3rd 4th 5th items, creating 2nd 3rd monthly report generation 2nd 3rd paying 2nd 3rd preferences, setting 2nd 3rd rates, setting 2nd state/local payroll information employee settings 2nd unemployment compensation paying via IRS Form 940 2nd W-2 forms processing 2nd W-3 forms processing 2nd 3rd Templates command (Lists menu) time tracking preferences setting (payroll) 2nd 3rd reasons for 2nd timer billing time applying to invoices data exporting to QuickBooks 2nd 3rd opening in QuickBooks 2nd 3rd installing 2nd time information exporting to 2nd 3rd

recording 2nd 3rd timed activities creating 2nd 3rd 4th 5th tracking accounts receivable 2nd customers 2nd 3rd daily transactions

• •

checklists 2nd

Table of Contents

petty cash 2nd

Index

transaction matching Show Me QuickBooks® 2004 online bank statements 2nd 3rd By Gail Perry transactions classes setting up 2nd Publisher: Que daily checklists Pub Date: February 19, 2004 creating ISBN: 2nd 0-7897-3078-2 groups Pages: 320 adding to 2nd memorizing 2nd 3rd memorized modifying 2nd removing 2nd

Show Me QuickBooks memorizing 2nd 3rd 4th helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions recurring quickly and visually with this user-friendly method of training. Each task includes a screenfrequency of 2nd by-screen visual modifying 2nd accompanied by a concise text description that makes performing everyday tasksscheduling quick and 2ndsimple. 3rd 4th 5th year-end date setting 2nd 3rd transferring funds online bank accounts 2nd trial balances preparing 2nd TurboTax using with QuickBooks 2nd

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] unemployment compensation taxes paying via IRS Form 940 2nd unpaid invoices bad debts recording 2nd 3rd

• collection letters Table of Contents •

creating 2nd Index

viewing 2nd Show Me QuickBooks® 2004 users ByGail Perry access restrictions pre-closing date tranactions Publisher: Que company financials Pub Date: February 19, 2004 removing 2nd setting ISBN:rights 0-7897-3078-2 access levels 2nd 3rd 4th 5th desktop view320 preferences Pages: setting 2nd 3rd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] vacation time employees setting 2nd vendors accounts payable

• •

aging detail reports 2nd Table of Contents adding

Index

information 2nd Show additional Me QuickBooks® 2004 address information 2nd ByGail Perry bills early payment discounts 2nd 3rd Publisher: Que paying 2nd 3rd 4th 5th 6th Pub Date: February 19, 2004 checks voiding ISBN:from 0-7897-3078-2 previous year 2nd voiding current year 2nd Pages:in320 Form 1099 (IRS) processing 2nd 3rd 4th information viewing 2nd 3rd inventory items

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading editing 2nd accounting software for small businesses. They are able to find answers to their questions receiving from 2nd quickly and visually with this user-friendly method of training. Each task includes a screenmailing labels by-screen visual accompanied by a concise text description that makes performing everyday creating 2nd 3rd tasks quick and simple. payments

recording in check register 2nd 3rd preferences setting 2nd purchase orders creating 2nd 3rd item additions 2nd item display 2nd 3rd receipt of goods 2nd 3rd purchase reports generating 2nd setting up 2nd 3rd Vendors & Payable command (Reports menu) Vendors Detail Center command (Vendors menu) Vendors Lists command (Lists menu) 2nd 3rd 4th Vendors menu commands Create Purchase Orders Pay Bills 2nd Purchase Orders Lists Receive Items 2nd Sales Tax Vendors Detail Center viewing items purchase orders 2nd 3rd opening balance equity accounts 2nd payroll summary reports progress reports estimates 2nd 3rd jobs 2nd 3rd unpaid invoices 2nd vendors information 2nd 3rd year-to-date payroll liability reports

voiding checks from previous year 2nd in current year 2nd

•

Table of Contents

•

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] W-2 forms (IRS) processing 2nd W-3 forms (IRS) processing 2nd 3rd Web sites

•

Fun With Taxes 2ndof Contents Table

• IRS Index resources Show depreciation Me QuickBooks® 2004 Form W-4 downloads ByGail Perry QuickBooks 2nd trial version 2nd Publisher: Que withdrawls Pub Date: February 19, 2004 ATM recording ISBN: 0-7897-3078-2 2nd Write Checks (Banking menu) 2nd Pages:command 320 Write Letter command (Company menu) writing checks 2nd 3rd

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z] year-end records companies closing 2nd 3rd year-to-date payroll information entry of 2nd 3rd year-to-date payroll payments • Table of Contents

•

entry of 2nd Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.

[SYMBOL] [A] [B] [C ] [D] [E] [F] [G] [H] [I ] [J] [L] [M] [N] [O ] [P ] [Q ] [R ] [S] [T] [U] [V] [W] [Y] [Z ] zeroing-out opening balance equity accounts 2nd

•

Table of Contents

•

Index

Show Me QuickBooks® 2004 ByGail Perry

Publisher: Que Pub Date: February 19, 2004 ISBN: 0-7897-3078-2 Pages: 320

Show Me QuickBooks helps readers learn visually how to perform tasks using the leading accounting software for small businesses. They are able to find answers to their questions quickly and visually with this user-friendly method of training. Each task includes a screenby-screen visual accompanied by a concise text description that makes performing everyday tasks quick and simple.