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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 12

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 12. Chapter 12 Overview. Budgets Estimates Progress billing Credit Card Sales Bad Debts Audit Trail Accountant Copy. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011. Budgets. Create budgets for: Profit & Loss Balance Sheet.

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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 12

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  1. COMPUTER ACCOUNTING WITHQUICKBOOKS 2011CHAPTER 12
  2. Chapter 12 Overview Budgets Estimates Progress billing Credit Card Sales Bad Debts Audit Trail Accountant Copy COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  3. Budgets Create budgets for: Profit & Loss Balance Sheet COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  4. Estimates Create estimates to bid on customer jobs. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  5. Progress Billing Bill customer as the job progresses. Receive partial payment from customer before the project is complete COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  6. Credit Card Sales QuickBooks can also process customers’ credit card payments. Simply: For Payment Method select credit card type. Enter Card No. Enter Expiration Date. QuickBooks offersMerchant Account Services to process credit card transactions. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  7. Bad Debts When a customer fails to pay their account, it is a bad debt or uncollectible account. Two methods to account for bad debts are: Direct write-off method Allowance method COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  8. Bad Debts Three methods to record a write-off of an uncollectible account are: Make a journal entry. Use the Receive Payments window. Use the Credit Memo window. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  9. Audit Trail Audit Trail feature tracks all changes (additions, modifications, and deletions) made to your QuickBooks records. Audit Trail improves internal control by tracking changes by User ID. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  10. Audit Trail Create an Audit Trail report: From the Report Center, select Accountant & Taxes. Select Audit Trail. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  11. ACCOUNTANT’S COPY Create a copy of your QuickBooks company file for your accountant to review and update (.QBX file). Your accountantcan make changes while you continueto use QuickBooks. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  12. Ask My Accountant Use the Ask My Accountantaccount when you are not sure how to record an item. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  13. Other Advanced Features Save time: Memorized transactions Memorized reports Go paperless and export reports to: Microsoft Excel Microsoft Access PDF COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
  14. TO LEARN MORE … Turn to Chapter 12Visit the Online Learning Centerwww.mhhe.com/kay2011Visit the Student Blogwww.myquickbooks.me COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
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