C OMPUTER A CCOUNTING WITH Q UICK B OOKS 2013 C HAPTER 12 Donna Kay Copyright 2014 by The...
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Transcript of C OMPUTER A CCOUNTING WITH Q UICK B OOKS 2013 C HAPTER 12 Donna Kay Copyright 2014 by The...
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COMPUTER ACCOUNTING WITH
QUICKBOOKS 2013CHAPTER 12
Donna Kay
Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved
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CHAPTER 12 OVERVIEW
Budgets Estimates Progress billing Credit Card Sales Bad Debts Audit Trail Accountant Copy
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BUDGETS
Create budgets for: Profit & Loss Balance Sheet
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ESTIMATES
Create estimates to bid on customer jobs.
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PROGRESS BILLING
Bill customer as the job progresses Receive partial payment from customer
before the project is complete
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CREDIT CARD SALES
To process customers’ credit card payments:1. For Payment Method select credit card type.2. Enter Card No.3. Enter Expiration Date.
QuickBooks offersMerchant Account Services to process credit card transactions.
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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
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BAD DEBTS
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.
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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.
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AUDIT TRAILCreate an Audit Trail report:1. From the Report Center, select Accountant &
Taxes.2. Select Audit Trail.
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ACCOUNTANT’S COPY
Create a copy of your QuickBooks company file for your accountant to review and update (.QBX file).
Your accountant can make changes while you continue to use QuickBooks.
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ASK MY ACCOUNTANT
Use the Ask My Accountant account when you are not sure how to record an item.
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SAVE TIME
Save time. Reduce errors. Set up: Memorized transactions Memorized reports
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DOCUMENT MANAGEMENT
Now you can attach documents to QuickBooks forms.Example: attach a vendor’s bill when you enter the bill in QuickBooks.
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QUICKBOOKS MOBILE APPS
Use apps on your mobile device to stay connected to QuickBooks.
QuickBooks Mobile
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QUICKBOOKS MOBILE APPSUse apps on your mobile device to stay connected to QuickBooks.
QuickBooks Go Payment
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TO LEARN MORE …
See Chapter 12
Visit the Online Learning Centerwww.mhhe.com/kay2013
Visit www.myquickbooks.me
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