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Create budgets for: Profit & Loss Balance Sheet BUDGETS COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
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CHAPTER 12
CHAPTER 12 OVERVIEW
BudgetsEstimatesProgress billingCredit Card SalesBad DebtsAudit TrailAccountant Copy
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Create budgets for:
Profit & Loss
Balance Sheet
BUDGETS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Create estimates to bid on customer jobs.
ESTIMATES
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Bill customers as the job progresses.Receive partial payment from customer before the project is complete
PROGRESS BILLING
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
QuickBooks can also process customers’ credit card payments. Simply:
1. Instead of select Check as Payment Method, select the customer’s type of credit card.
2. Enter Card No.3. Enter Expiration Date.
QuickBooks offers for a fee, Merchant Account Services to process credit card transactions.
CREDIT CARD SALES
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
When a customer fails to pay their account, it is called a bad debt or uncollectible account.
Two methods to account for bad debts are:Direct write-off methodAllowance method
BAD DEBTS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Three methods to record a write-off of an uncollectible account are:
1. Make a journal entry.
2. Use the Receive Payments window.
3. Use the Credit Memo window.
BAD DEBTS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
The Audit Trail feature tracks all changes (additions, modifications, and deletions) made to your QuickBooks Accounting records.
The Audit Trail improves internal control by tracking changes by User ID.
Create an Audit Trail report:
1. From the Report Center, select Accountant & Taxes
2. Select Audit Trail.
AUDIT TRAIL
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
You can create a copy of your QuickBooks company file for your accountant to review and update.
Also, your accountantcan make changes while you continueto use QuickBooks.
ACCOUNTANT’S COPY
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
The Accountant’s Copy QuickBooks file is a .QBX file.
Use the Ask My Accountant account in the QuickBooks Chart of Accounts when you are not sure how to record an item.
ACCOUNTANT’S COPY
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Save timeMemorized transactions
Save paper – “Go Green!”Export reports and lists to:
Microsoft ExcelMicrosoft AccessPDF
OTHER ADVANCED FEATURES
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
TURN TO CHAPTER 12
VISIT THE ONLINE LEARNING CENTERWWW.MHHE.COM/ULMER2009
VISIT THE STUDENT BLOGWWW.QUICKBOOKSBLOG.INFO
To Learn More....
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
