QuickBooks 2008 Solutions Guide for Business Owners and Accountants
Published on 27. December 2007
Book
Paperback/Softback
528 pages
978-0-7897-3711-3 (ISBN)
Description
QuickBooks 2008 Solutions Guide for Business Owners and Accountants contains a wealth of information useful to both the business owner and the accountant who services such businesses. To make finding the right information easier, the book is organized into chapters specific to each accounting module in QuickBooks.
The author has worked many years with businesses that use QuickBooks to manage their financials and knows that every company has its own unique needs, yet all share one common goal-to more accurately track how the business is performing financially.
The goal of this book is to provide easy-to-read and easy-to-follow QuickBooks "consulting" advice that business owners, bookkeepers, or accountants can use. After reading the chapters in this book, business owners and accountants will be able to efficiently troubleshoot a QuickBooks data file and make needed corrections, so they can accurately report how the business is performing financially.
This book helps you
o Get started with a QuickBooks data file and learn how to modify the file you already have
o Analyze your data and troubleshoot reports
o Review and correct any data errors in your balance sheet accounts such as Banking, A/R, Undeposited Funds, Employee Advances, Inventory, A/P, Sales Tax, and Open Bal Equity Account
o Use the tools in QuickBooks to properly review your payroll data and avoid costly mistakes
o Efficiently share your business data with your accountant
o Make the most of the QuickBooks reporting tools
Laura Madeira graduated from Florida Atlantic University with a major in accounting and is a certified trainer for Intuit's Certified Trainer Network. As a member of this select group, she provides training to accountants and consultants each fall when the new version of QuickBooks is released.
She also is a guest instructor for Intuit at many trade shows throughout the year, and she writes published QuickBooks technical documentation and presentations for Intuit.
Laura owns a software and accounting firm that has for more than 20 years helped a large variety of businesses manage their financials using Intuit's QuickBooks software (Intuit's Quicken in those early years). In fact, she has been training users on QuickBooks since the very first version was released many years ago.
Category Business | Finance
Covers QuickBooks 2008
User Level Intermediate-Advanced
Front cover quote:
"Laura Madeira has created an extremly valuable QuickBooks resource that belongs on every business and accountant's bookshelf"
-Rich Walker, CPA, Intuit Accountant Relations
The author has worked many years with businesses that use QuickBooks to manage their financials and knows that every company has its own unique needs, yet all share one common goal-to more accurately track how the business is performing financially.
The goal of this book is to provide easy-to-read and easy-to-follow QuickBooks "consulting" advice that business owners, bookkeepers, or accountants can use. After reading the chapters in this book, business owners and accountants will be able to efficiently troubleshoot a QuickBooks data file and make needed corrections, so they can accurately report how the business is performing financially.
This book helps you
o Get started with a QuickBooks data file and learn how to modify the file you already have
o Analyze your data and troubleshoot reports
o Review and correct any data errors in your balance sheet accounts such as Banking, A/R, Undeposited Funds, Employee Advances, Inventory, A/P, Sales Tax, and Open Bal Equity Account
o Use the tools in QuickBooks to properly review your payroll data and avoid costly mistakes
o Efficiently share your business data with your accountant
o Make the most of the QuickBooks reporting tools
Laura Madeira graduated from Florida Atlantic University with a major in accounting and is a certified trainer for Intuit's Certified Trainer Network. As a member of this select group, she provides training to accountants and consultants each fall when the new version of QuickBooks is released.
She also is a guest instructor for Intuit at many trade shows throughout the year, and she writes published QuickBooks technical documentation and presentations for Intuit.
Laura owns a software and accounting firm that has for more than 20 years helped a large variety of businesses manage their financials using Intuit's QuickBooks software (Intuit's Quicken in those early years). In fact, she has been training users on QuickBooks since the very first version was released many years ago.
Category Business | Finance
Covers QuickBooks 2008
User Level Intermediate-Advanced
Front cover quote:
"Laura Madeira has created an extremly valuable QuickBooks resource that belongs on every business and accountant's bookshelf"
-Rich Walker, CPA, Intuit Accountant Relations
More details
Person
Laura Madeira is an accountant and Advanced QuickBooks Certified Trainer for the Intuit Accountant Training Network and Member of Intuit's Speaker's Bureau Network. Laura has been teaching companies how to use Intuit's products beginning with Quicken in 1985 and then advancing to QuickBooks since its very first version. Laura has instructed more than 10,000 individuals. She presents QuickBooks training to audiences that are comprised of accountants, consultants, and end users, representing Intuit as a select presenter for its yearly national multi-city Accountant Update Tour and QuickBooks Advanced Certification Training seminars. Additionally, Laura was a guest presenter at the 2006 ASBDC Annual Conference in Houston, Texas. Laura continues to be a guest speaker for Intuit at national CPA trade shows.
Laura has been an advocate for the QuickBooks product line for more than 15 years and has been featured in several marketing articles on Intuit, QuickBooks, and in particular the QuickBooks Certified ProAdvisor program. In addition to the numerous speaking engagements, Laura also served on the first two Intuit Customer Advisory Councils from 2002-2005. This gave Laura an opportunity to meet Intuit executives and help influence changes in Intuit's relationship with accountants.
Laura also is a skilled technical writer and has provided Intuit with technical training and public presentation materials over the years. Her "QuickBooks at Year-End" document has been distributed by Intuit at several national events and is one of Intuit's most requested training and presentation documents. Laura is the owner of a software consulting firm located in the greater Dallas, Texas, area.
Laura resides with her husband and two teenage sons outside Dallas, Texas. She graduated from Florida Atlantic University, May 2003, with her bachelor of science, majoring in Accounting. Her hobbies include photography, art (watercolor), scrapbook making, and training two Cocker Spaniel dogs.
Laura has been an advocate for the QuickBooks product line for more than 15 years and has been featured in several marketing articles on Intuit, QuickBooks, and in particular the QuickBooks Certified ProAdvisor program. In addition to the numerous speaking engagements, Laura also served on the first two Intuit Customer Advisory Councils from 2002-2005. This gave Laura an opportunity to meet Intuit executives and help influence changes in Intuit's relationship with accountants.
Laura also is a skilled technical writer and has provided Intuit with technical training and public presentation materials over the years. Her "QuickBooks at Year-End" document has been distributed by Intuit at several national events and is one of Intuit's most requested training and presentation documents. Laura is the owner of a software consulting firm located in the greater Dallas, Texas, area.
Laura resides with her husband and two teenage sons outside Dallas, Texas. She graduated from Florida Atlantic University, May 2003, with her bachelor of science, majoring in Accounting. Her hobbies include photography, art (watercolor), scrapbook making, and training two Cocker Spaniel dogs.
Content
Introduction
Chapter 1 Creating a New QuickBooks Data File
EasyStep Interview-Overview
Select a Start Date
Enter Bank Account Information
Review Income and Expense Accounts
Converting from Other Accounting Software to QuickBooks
Converting from Quicken to QuickBooks
Converting from Peachtree, Small Business Accounting, or Office Accounting to QuickBooks
Converting from QuickBooks for Windows to QuickBooks Online Edition
Converting from QuickBooks Pro for MAC to QuickBooks for Windows
Setting Up a QuickBooks Data File for Accrual or Cash Basis Reporting
Cash or Accrual Basis Startup Transactions: Accounts Receivable
Cash or Accrual Basis Startup Transactions: Accounts Payable
Cash or Accrual Basis Startup Transactions: Bank Account Statement Balance
Cash or Accrual Basis Startup Transactions: Checking Uncleared Bank Checks
Creating a QuickBooks Data File Checklist
Chapter 2 Reviewing the QuickBooks Chart of Accounts
Understanding the Chart of Accounts
Assets
Liabilities
Equity
Income
Cost of Goods Sold
Expense
Importing a Chart of Accounts
Importing from an Excel File Format
Importing from an Intuit Interchange Format (IIF) File
Preferences That Affect the Chart of Accounts
Accounts That QuickBooks Creates Automatically
Methods to Troubleshoot and Correct Chart of Account Issues
Removing Duplicated Accounts by Marking an Account Inactive
Merging Duplicated Accounts
Wrong Account Type Assigned to a Chart of Accounts Listing
Assigning or Removing a Subaccount Relationship
Chart of Accounts Chapter Checklist
Chapter 3 Reviewing and Correcting Item List Errors
Understanding the Differences Between the Chart of Accounts, Items, Classes, and Customer Types
Chart of Accounts
Items
Classes
Customer Types
Using Item Types in QuickBooks
Finding Item Errors in QuickBooks
Reviewing Accounts Assigned to Items
Item Listing Report
Profit & Loss Summary Report
Fixing Item Errors in QuickBooks
Correcting One-Sided Items
Making an Item Inactive
Merging Items
Creating Items as Subitems
Item List Review Checklist
Chapter 4 Easily Review Your QuickBooks Data
Choosing a Reporting Basis
Reviewing the Balance Sheet
Account Types
Prior Year Balances
Bank Account Balance(s)
Accounts Receivable
Undeposited Funds
Inventory
Other Current Assets
Fixed Assets
Accounts Payable
Credit Cards
Payroll Liabilities
Sales Tax Payable
Other Current Liabilities and Long-Term Liabilities
Equity
Additional Data Reviews
Payroll Summary Total and Payroll Expense Total
Sales by Item Summary Compared to Total Income
Net Income or (Loss) Agrees with Balance Sheet
Reconcile Discrepancies Account
Cash Basis Balance Sheet Has Accounts Receivable or Payable
Chapter 5 Power Reports for Troubleshooting Beginning Balance Differences
How Can These Power Reports Help Me?
The Working Trial Balance Window
Tracking Changes to Closed Accounting Periods
Setting a Closing Date and Password
Setting User-Specific Security
Creating the Closing Date Exception Report
Using the Audit Trail Report
Using the Credit Card Audit Trail
Using the Voided/Deleted Transactions Summary or Detail Report
Creating the Retained Earnings QuickReport
Using the Ctrl+Y Keyboard Shortcut
Running the Transaction List by Date Report
Documenting Changes Made to a Data File
Chapter 6 Bank Account Balance or Reconciliation Errors
The Importance of Correct Bank Balances in Your QuickBooks Data
Reconciling a Bank Account for the First Time
Verify That the Bank Account Has Not Been Reconciled
Verify That All Banking-Related Transactions Have Been Entered
Identify All Uncleared Transactions
Complete the Multiple Year or Month Bank Reconciliation
Troubleshooting an Incorrectly Reconciled Bank Account
Review Uncleared Bank Transactions
Reviewing Previous Bank Reconciliation Reports
Locating Bank Account Reconciliation Discrepancies
Reviewing the Voided/Deleted Report
Restarting a Previously Completed Bank Reconciliation
Undoing a Previous Bank Reconciliation
Reconciling with an Adjustment
Bank Reconciliation Troubleshooting Checklist
Chapter 7 Reviewing and Correcting Accounts Receivable Errors
Accounts Receivable Forms and Workflow
Preferences That Affect Accounts Receivable
Sales & Customers Preferences
Checking Preference
Finance Charge Preference
Jobs & Estimates
Reminders
Reports & Graphs
Send Forms
Spelling
Sales Tax Preference
Time and Expenses
Reports to Review When Troubleshooting Accounts Receivable Errors
Reconcile Balance Sheet Accounts Receivable Amount to A/R Aging Summary Total
Review Open Invoices Report
Generate a Missing Customer Invoices Report
When an Accounts Receivable Balance Appears on a Cash Basis Balance Sheet
Correcting Accounts Receivable Errors
Removing an Open Balance from a Customer Invoice
Correcting Customer Payments Applied to the Incorrect Invoice, Customer, or Job
When a Credit Memo Is Applied to the Wrong Customer Invoice
When Deposits Were Made Without Using the Receive Payment Form
Grouping Deposited Items
Eliminating the Print Queue for Customer Invoices Marked to Print
Unique Customer Transactions
Recording Your Accountant's Year-End Adjusting Journal Entry to Accounts Receivable
When a Customer Is Also a Vendor
Recording Customer's Bounced Check
Accounts Receivable Checklist
Chapter 8 Troubleshooting and Correcting Errors with the Undeposited Funds Account
The Purpose of the Undeposited Funds Account
Preference Settings that Affect Undeposited Funds
Reviewing the Balance in the Undeposited Funds Account
Creating an Undeposited Funds Detail Report
Creating a General Ledger Report of the Undeposited Funds Account
Reviewing the Open Invoices Report
Viewing Deposits in the Bank Register
Viewing the Deposit Detail Report
Fixing Errors with the Undeposited Funds Account
Removing Old Dated Payments in the Undeposited Funds Account
Reconciling Your Bank Register with the Bank Statement's Deposits
Undeposited Funds Account Checklist
Chapter 9 Handling Current Asset Accounts Correctly
Defining an Other Current Asset
Reviewing and Troubleshooting the Other Current Asset Accounts
Matching Other Current Asset Balances to an Outside Document
Creating a Custom Transaction Detail Report
Reconciling Other Current Asset Accounts
Troubleshooting and Creating Unique Other Current Asset Account Transactions
Correcting Balance Errors in Your Other Current Asset Accounts
Deducting Employee Loan Payments from the Employee's Payroll Checks
Recording Prepaid Expenses in QuickBooks
Tracking Customer Retainage in QuickBooks
Other Current Asset Accounts Checklist
Chapter 10 Reviewing and Correcting Inventory Errors
Overview of the Accounting for Inventory
Preferences That Affect Inventory
Inventory Processes and Forms and Their Effect on Accounting
Reviewing and Troubleshooting Inventory Balances
Perform a Physical Inventory Count
Reconciling the Inventory Valuation Summary Report with the Balance Sheet Inventory Balance
Reviewing the Recorded Average Cost Valuation
Reviewing Aged Open Item Receipts
Reviewing Aged Accounts Payable
Correcting Inventory Errors
Creating an Inventory Quantity Adjustment
Creating an Inventory Value Adjustment
How QuickBooks Handles Negative Inventory
When Inventory Has an Average Cost from Prior Purchase Transactions
When Inventory Does Not Have a Prior Average Cost
Inventory Summary
Chapter 11 Reviewing and Correcting Accounts Payable Errors
Accounts Payable Forms and Workflow
Accounts Payable Forms
Accounts Payable Workflow
Preferences That Affect Accounts Payable
Accounting
Bills
Checking
General
Reminders
Reports and Graphs
Tax:1099
Reports to Review When Troubleshooting Accounts Payable Errors
Reconcile Balance Sheet Report Accounts Payable Balance to A/P Aging Summary Report Total
Review the Unpaid Bills Detail Report
Reviewing Aged Open Item Receipts
Reviewing Item Setup
When an Accounts Payable Balance Appears on a Cash Basis Balance Sheet
Reviewing and Printing Year-end Vendor Tax Forms
Correcting Accounts Payable Errors
When a Vendor Was Paid with a Check
Misapplied Vendor Credit
Removing Aged Open Item Receipts or Vendor Bills
General Journal Adjustments to Accounts Payable
Unique Accounts Payable Transactions
When Your Vendor Is Also Your Customer
Recording Vendor Prepayments
Entering Mid-year 1099 Balances
Taking Discounts on Vendor Bills
Memorizing Recurring Transactions
Depositing a Vendor Refund
Paying and Recording a Credit Card Bill
Accounts Payable Checklist
Chapter 12 Reviewing and Correcting Sales Tax Errors
Preferences That Affect Sales Tax
Sales Tax Items, Groups, and Codes
Creating and Using Sales Tax Items
Creating and Using Sales Tax Group Items
Creating and Using Sales Tax Codes
Assigning Sales Tax Codes to Products or Services
Assigning Sales Tax Codes and Items to Customers
Reports to Review When Troubleshooting Sales Tax Errors
Reviewing Customer Lists for Tax Code and Tax Item Assigned
Reviewing Item List for Tax Code Assigned
Reconciling Total Sales to Total Income
Reconciling Sales Tax Liability to Balance Sheet Sales Tax Payable
When a Check or Bill Form Was Used to Pay Sales Tax
Properly Paying Sales Tax
Paying Sales Tax Without an Adjustment
Paying Sales Tax with an Adjustment
Correcting Sales Tax Errors
When a Check or Bill Form Was Used to Pay the Sales Tax
When the Sales Tax Liability Report Shows Past Sales Tax Due
When Total Sales Does Not Equal Total Income
Unique Sales Tax Transactions
Tracking and Collecting Multiple Sales Tax Rates
When Your State Imposes a Maximum Sales Tax
Multiple Sales Tax Rates on One Invoice
Issuing Credit Memos When Sales Tax Should Not Have Been Charged
Sales Tax Checklist
Chapter 13 Reviewing and Correcting the Opening Balance Equity Account
Purpose of the Opening Bal Equity Account
Transactions in the Opening Bal Equity Account
Bank Statement Ending Balance Entered in the EasyStep Interview
Opening Balance in the Add New Account Dialog
Entering a Total Value for a New Inventory Item
Bank Reconciliation Adjustments (QuickBooks 2005 or Older)
Accrual Basis Startup Records
Reports to Review and Troubleshoot the Opening Bal Equity Account
Closing Opening Bal Equity into Retained Earnings
Setting a Closing Date and Password
Opening Bal Equity Checklist
Chapter 14 Reviewing and Correcting Payroll Errors
Payroll Service Options
Payroll & Employees Preference
Payroll Forms and Workflow in QuickBooks
Payroll Forms
Payroll Workflow
Using the Payroll Setup
Using the Run Payroll Checkup Diagnostic Tool
Reports to Review When Troubleshooting Payroll
Payroll Item Listing
Comparing Payroll Liabilities Balances to the Balance Sheet
Compare Payroll Summary to Filed Payroll Returns
Adjusting Payroll Liabilities
Unique Payroll Transactions and Processes
Scheduled Payroll and Liabilities
Deposit a Refund of Payroll Liabilities
Reprint a Lost Payroll Check
Setting Up Payroll Mid-Year
Paying a Taxable Bonus
Employee Loan Payment and Repayment
Adjusting an Employee Paycheck
Payroll Checklist
Chapter 15 Sharing Data with Your Accountant or Your Client
Sharing QuickBooks Data
Benefits for the Business Owner
Benefits for the Accountant
QuickBooks File Types
Choosing a Method to Share Data
Data Sharing for the Business Owner
Reviewing Your QuickBooks Data
Using the Accountant's Copy Feature
What the Business Owner Can and Cannot Do
Importing Your Accountant's Changes
Canceling an Accountant's Copy
Data Sharing for the Accountant
Preparing Your Client for the Data Exchange
Working with an Accountant's Copy File
What the Accountant Can Do
What the Accountant Cannot Do
Returning the Accountant's Copy Change File to the Client
What to Request from the Client When the Import Is Complete
Converting the Accountant's Copy to a Regular Company File
Sharing Data Checklist
Chapter 16 Reporting Tips and Tricks
Using the Report Center
Reporting Preferences
My Preferences
Company Preferences
Modifying Reports
Modifying Options Available on the Report Window
Modify Report Button
Report Groups
Creating Report Groups
Using Report Groups
Managing Report Groups
Memorized Reports
Exporting and Importing Report Templates
Exporting a Report or Report Group Template
Importing a Report or Report Group Template
Exporting Reports to a .CSV File or to Excel
Emailing Reports
About Financial Statement Designer
0789737116 TOC 10/31/2007
Chapter 1 Creating a New QuickBooks Data File
EasyStep Interview-Overview
Select a Start Date
Enter Bank Account Information
Review Income and Expense Accounts
Converting from Other Accounting Software to QuickBooks
Converting from Quicken to QuickBooks
Converting from Peachtree, Small Business Accounting, or Office Accounting to QuickBooks
Converting from QuickBooks for Windows to QuickBooks Online Edition
Converting from QuickBooks Pro for MAC to QuickBooks for Windows
Setting Up a QuickBooks Data File for Accrual or Cash Basis Reporting
Cash or Accrual Basis Startup Transactions: Accounts Receivable
Cash or Accrual Basis Startup Transactions: Accounts Payable
Cash or Accrual Basis Startup Transactions: Bank Account Statement Balance
Cash or Accrual Basis Startup Transactions: Checking Uncleared Bank Checks
Creating a QuickBooks Data File Checklist
Chapter 2 Reviewing the QuickBooks Chart of Accounts
Understanding the Chart of Accounts
Assets
Liabilities
Equity
Income
Cost of Goods Sold
Expense
Importing a Chart of Accounts
Importing from an Excel File Format
Importing from an Intuit Interchange Format (IIF) File
Preferences That Affect the Chart of Accounts
Accounts That QuickBooks Creates Automatically
Methods to Troubleshoot and Correct Chart of Account Issues
Removing Duplicated Accounts by Marking an Account Inactive
Merging Duplicated Accounts
Wrong Account Type Assigned to a Chart of Accounts Listing
Assigning or Removing a Subaccount Relationship
Chart of Accounts Chapter Checklist
Chapter 3 Reviewing and Correcting Item List Errors
Understanding the Differences Between the Chart of Accounts, Items, Classes, and Customer Types
Chart of Accounts
Items
Classes
Customer Types
Using Item Types in QuickBooks
Finding Item Errors in QuickBooks
Reviewing Accounts Assigned to Items
Item Listing Report
Profit & Loss Summary Report
Fixing Item Errors in QuickBooks
Correcting One-Sided Items
Making an Item Inactive
Merging Items
Creating Items as Subitems
Item List Review Checklist
Chapter 4 Easily Review Your QuickBooks Data
Choosing a Reporting Basis
Reviewing the Balance Sheet
Account Types
Prior Year Balances
Bank Account Balance(s)
Accounts Receivable
Undeposited Funds
Inventory
Other Current Assets
Fixed Assets
Accounts Payable
Credit Cards
Payroll Liabilities
Sales Tax Payable
Other Current Liabilities and Long-Term Liabilities
Equity
Additional Data Reviews
Payroll Summary Total and Payroll Expense Total
Sales by Item Summary Compared to Total Income
Net Income or (Loss) Agrees with Balance Sheet
Reconcile Discrepancies Account
Cash Basis Balance Sheet Has Accounts Receivable or Payable
Chapter 5 Power Reports for Troubleshooting Beginning Balance Differences
How Can These Power Reports Help Me?
The Working Trial Balance Window
Tracking Changes to Closed Accounting Periods
Setting a Closing Date and Password
Setting User-Specific Security
Creating the Closing Date Exception Report
Using the Audit Trail Report
Using the Credit Card Audit Trail
Using the Voided/Deleted Transactions Summary or Detail Report
Creating the Retained Earnings QuickReport
Using the Ctrl+Y Keyboard Shortcut
Running the Transaction List by Date Report
Documenting Changes Made to a Data File
Chapter 6 Bank Account Balance or Reconciliation Errors
The Importance of Correct Bank Balances in Your QuickBooks Data
Reconciling a Bank Account for the First Time
Verify That the Bank Account Has Not Been Reconciled
Verify That All Banking-Related Transactions Have Been Entered
Identify All Uncleared Transactions
Complete the Multiple Year or Month Bank Reconciliation
Troubleshooting an Incorrectly Reconciled Bank Account
Review Uncleared Bank Transactions
Reviewing Previous Bank Reconciliation Reports
Locating Bank Account Reconciliation Discrepancies
Reviewing the Voided/Deleted Report
Restarting a Previously Completed Bank Reconciliation
Undoing a Previous Bank Reconciliation
Reconciling with an Adjustment
Bank Reconciliation Troubleshooting Checklist
Chapter 7 Reviewing and Correcting Accounts Receivable Errors
Accounts Receivable Forms and Workflow
Preferences That Affect Accounts Receivable
Sales & Customers Preferences
Checking Preference
Finance Charge Preference
Jobs & Estimates
Reminders
Reports & Graphs
Send Forms
Spelling
Sales Tax Preference
Time and Expenses
Reports to Review When Troubleshooting Accounts Receivable Errors
Reconcile Balance Sheet Accounts Receivable Amount to A/R Aging Summary Total
Review Open Invoices Report
Generate a Missing Customer Invoices Report
When an Accounts Receivable Balance Appears on a Cash Basis Balance Sheet
Correcting Accounts Receivable Errors
Removing an Open Balance from a Customer Invoice
Correcting Customer Payments Applied to the Incorrect Invoice, Customer, or Job
When a Credit Memo Is Applied to the Wrong Customer Invoice
When Deposits Were Made Without Using the Receive Payment Form
Grouping Deposited Items
Eliminating the Print Queue for Customer Invoices Marked to Print
Unique Customer Transactions
Recording Your Accountant's Year-End Adjusting Journal Entry to Accounts Receivable
When a Customer Is Also a Vendor
Recording Customer's Bounced Check
Accounts Receivable Checklist
Chapter 8 Troubleshooting and Correcting Errors with the Undeposited Funds Account
The Purpose of the Undeposited Funds Account
Preference Settings that Affect Undeposited Funds
Reviewing the Balance in the Undeposited Funds Account
Creating an Undeposited Funds Detail Report
Creating a General Ledger Report of the Undeposited Funds Account
Reviewing the Open Invoices Report
Viewing Deposits in the Bank Register
Viewing the Deposit Detail Report
Fixing Errors with the Undeposited Funds Account
Removing Old Dated Payments in the Undeposited Funds Account
Reconciling Your Bank Register with the Bank Statement's Deposits
Undeposited Funds Account Checklist
Chapter 9 Handling Current Asset Accounts Correctly
Defining an Other Current Asset
Reviewing and Troubleshooting the Other Current Asset Accounts
Matching Other Current Asset Balances to an Outside Document
Creating a Custom Transaction Detail Report
Reconciling Other Current Asset Accounts
Troubleshooting and Creating Unique Other Current Asset Account Transactions
Correcting Balance Errors in Your Other Current Asset Accounts
Deducting Employee Loan Payments from the Employee's Payroll Checks
Recording Prepaid Expenses in QuickBooks
Tracking Customer Retainage in QuickBooks
Other Current Asset Accounts Checklist
Chapter 10 Reviewing and Correcting Inventory Errors
Overview of the Accounting for Inventory
Preferences That Affect Inventory
Inventory Processes and Forms and Their Effect on Accounting
Reviewing and Troubleshooting Inventory Balances
Perform a Physical Inventory Count
Reconciling the Inventory Valuation Summary Report with the Balance Sheet Inventory Balance
Reviewing the Recorded Average Cost Valuation
Reviewing Aged Open Item Receipts
Reviewing Aged Accounts Payable
Correcting Inventory Errors
Creating an Inventory Quantity Adjustment
Creating an Inventory Value Adjustment
How QuickBooks Handles Negative Inventory
When Inventory Has an Average Cost from Prior Purchase Transactions
When Inventory Does Not Have a Prior Average Cost
Inventory Summary
Chapter 11 Reviewing and Correcting Accounts Payable Errors
Accounts Payable Forms and Workflow
Accounts Payable Forms
Accounts Payable Workflow
Preferences That Affect Accounts Payable
Accounting
Bills
Checking
General
Reminders
Reports and Graphs
Tax:1099
Reports to Review When Troubleshooting Accounts Payable Errors
Reconcile Balance Sheet Report Accounts Payable Balance to A/P Aging Summary Report Total
Review the Unpaid Bills Detail Report
Reviewing Aged Open Item Receipts
Reviewing Item Setup
When an Accounts Payable Balance Appears on a Cash Basis Balance Sheet
Reviewing and Printing Year-end Vendor Tax Forms
Correcting Accounts Payable Errors
When a Vendor Was Paid with a Check
Misapplied Vendor Credit
Removing Aged Open Item Receipts or Vendor Bills
General Journal Adjustments to Accounts Payable
Unique Accounts Payable Transactions
When Your Vendor Is Also Your Customer
Recording Vendor Prepayments
Entering Mid-year 1099 Balances
Taking Discounts on Vendor Bills
Memorizing Recurring Transactions
Depositing a Vendor Refund
Paying and Recording a Credit Card Bill
Accounts Payable Checklist
Chapter 12 Reviewing and Correcting Sales Tax Errors
Preferences That Affect Sales Tax
Sales Tax Items, Groups, and Codes
Creating and Using Sales Tax Items
Creating and Using Sales Tax Group Items
Creating and Using Sales Tax Codes
Assigning Sales Tax Codes to Products or Services
Assigning Sales Tax Codes and Items to Customers
Reports to Review When Troubleshooting Sales Tax Errors
Reviewing Customer Lists for Tax Code and Tax Item Assigned
Reviewing Item List for Tax Code Assigned
Reconciling Total Sales to Total Income
Reconciling Sales Tax Liability to Balance Sheet Sales Tax Payable
When a Check or Bill Form Was Used to Pay Sales Tax
Properly Paying Sales Tax
Paying Sales Tax Without an Adjustment
Paying Sales Tax with an Adjustment
Correcting Sales Tax Errors
When a Check or Bill Form Was Used to Pay the Sales Tax
When the Sales Tax Liability Report Shows Past Sales Tax Due
When Total Sales Does Not Equal Total Income
Unique Sales Tax Transactions
Tracking and Collecting Multiple Sales Tax Rates
When Your State Imposes a Maximum Sales Tax
Multiple Sales Tax Rates on One Invoice
Issuing Credit Memos When Sales Tax Should Not Have Been Charged
Sales Tax Checklist
Chapter 13 Reviewing and Correcting the Opening Balance Equity Account
Purpose of the Opening Bal Equity Account
Transactions in the Opening Bal Equity Account
Bank Statement Ending Balance Entered in the EasyStep Interview
Opening Balance in the Add New Account Dialog
Entering a Total Value for a New Inventory Item
Bank Reconciliation Adjustments (QuickBooks 2005 or Older)
Accrual Basis Startup Records
Reports to Review and Troubleshoot the Opening Bal Equity Account
Closing Opening Bal Equity into Retained Earnings
Setting a Closing Date and Password
Opening Bal Equity Checklist
Chapter 14 Reviewing and Correcting Payroll Errors
Payroll Service Options
Payroll & Employees Preference
Payroll Forms and Workflow in QuickBooks
Payroll Forms
Payroll Workflow
Using the Payroll Setup
Using the Run Payroll Checkup Diagnostic Tool
Reports to Review When Troubleshooting Payroll
Payroll Item Listing
Comparing Payroll Liabilities Balances to the Balance Sheet
Compare Payroll Summary to Filed Payroll Returns
Adjusting Payroll Liabilities
Unique Payroll Transactions and Processes
Scheduled Payroll and Liabilities
Deposit a Refund of Payroll Liabilities
Reprint a Lost Payroll Check
Setting Up Payroll Mid-Year
Paying a Taxable Bonus
Employee Loan Payment and Repayment
Adjusting an Employee Paycheck
Payroll Checklist
Chapter 15 Sharing Data with Your Accountant or Your Client
Sharing QuickBooks Data
Benefits for the Business Owner
Benefits for the Accountant
QuickBooks File Types
Choosing a Method to Share Data
Data Sharing for the Business Owner
Reviewing Your QuickBooks Data
Using the Accountant's Copy Feature
What the Business Owner Can and Cannot Do
Importing Your Accountant's Changes
Canceling an Accountant's Copy
Data Sharing for the Accountant
Preparing Your Client for the Data Exchange
Working with an Accountant's Copy File
What the Accountant Can Do
What the Accountant Cannot Do
Returning the Accountant's Copy Change File to the Client
What to Request from the Client When the Import Is Complete
Converting the Accountant's Copy to a Regular Company File
Sharing Data Checklist
Chapter 16 Reporting Tips and Tricks
Using the Report Center
Reporting Preferences
My Preferences
Company Preferences
Modifying Reports
Modifying Options Available on the Report Window
Modify Report Button
Report Groups
Creating Report Groups
Using Report Groups
Managing Report Groups
Memorized Reports
Exporting and Importing Report Templates
Exporting a Report or Report Group Template
Importing a Report or Report Group Template
Exporting Reports to a .CSV File or to Excel
Emailing Reports
About Financial Statement Designer
0789737116 TOC 10/31/2007