Introduction xv
1 Setting Up Your Company Accounts with the EasyStep Interview 1
Introduction 1
Installing QuickBooks 2
Registering QuickBooks 5
Setting Up QuickBooks in a Multiuser Office 6
Transferring Data from Older Versions of QuickBooks 7
Transferring Data from Quicken 9
Practicing with the Sample Company Files 11
Entering Data for a New Company 12
Setting Up a Bank Account 19
Setting Up Income and Expense Accounts 20
Stopping, Restarting, and Completing the Interview 21
2 Setting Up and Using Payroll Features 23
Introduction 23
Setting Payroll and Employee Preferences 24
Setting Up Employees 28
Setting Up Employee Payroll Information 30
Setting Up Employee Payroll Taxes 31
Setting Up Sick and Vacation Benefits 33
Setting Up Payroll Deductions 36
Paying Employees 39
Printing Paychecks 43
Using Direct Deposit 44
Preparing and Paying Payroll Liabilities 46
Creating Employer Payroll Reports 49
Reporting Payroll Taxes with Form 941 51
Paying Federal Unemployment Compensation
Taxes with Form 940 54
Preparing W-2/W-3 Forms 56
Setting Up Independent Contractors for 1099 Forms 59
Setting 1099 Preferences 61
Issuing 1099 Forms 62
Outsourcing Payroll 65
3 Adding or Changing Information After the Initial Company Setup 67
Introduction 67
Setting General Preferences 68
Setting Desktop View Preferences 72
Setting Accounting Preferences 74
Adding Accounts 76
Using Account Numbers 78
Sorting Lists 79
Displaying Lists on Forms 80
Adding Customers 82
Working with the Customer Center 86
Adding Vendors 88
Adding Items 92
Adding Multiple List Entries: Customers, Vendors, or Items 97
Adding Information “On-the-Fly” 98
Moving Items on a List 100
Creating Subitems 101
Editing Information on a List 102
Marking List Items Inactive 103
Deleting Entries on a List 106
Merging Entries on a List 107
Printing Lists 109
Searching for Transactions 110
4 Invoicing and Collecting Income 111
Introduction 111
Setting Customers’
Preferences 112
Creating an Invoice 116
Creating Batch Invoices 117
Previewing or Printing Invoices 121
Emailing an Invoice 123
Charging (or Billing) Expenses to a Customer 127
Setting Finance Charge Preferences 130
Creating a Monthly Statement 131
Receiving Payments for Invoices 133
Issuing a Credit or Refund 134
Recording Cash Sales/Sales Receipts 135
Making Bank Deposits 136
Receiving Advances, Retainers, and Down Payments 137
Issuing Discounts 138
Tracking Accounts Receivable 141
Using the Income Tracker 142
Working with the Customer and Payments Snapshots 143
Viewing the Open Invoices Report 145
Using the Collections Center 146
Creating a Collection Letter 148
Recording Bad Debts 151
Recording Bounced Checks 153
Working with Multiple Currencies 155
5 Making Purchases and Recording Payments 167
Introduction 167
Setting Purchases and Vendors Preferences 168
Working with the Vendor Center 171
Using Purchase Orders 173
Reporting on Open Purchase Orders 177
Receiving Goods 178
Receiving a Partial Order 180
Viewing Aging and Unpaid Bills Reports 182
Paying Bills 183
Taking Discounts 184
Using the Check Register 185
Editing Bill Payments 186
Deleting Bill Payments 188
Setting Checking Preferences 189
Writing Checks 191
Printing Checks 193
Voiding Checks 195
6 Collecting and Paying Sales Tax 199
Introduction 199
Setting Sales Tax Preferences 200
Creating a Sales Tax Item 201
Creating a Sales Tax Group 202
Charging Sales Tax to Customers 203
Entering Tax Status of Inventory Items 204
Selling Tax-Exempt Items 205
Selling Items to Tax-Exempt Customers 206
Producing Monthly Sales Tax Reports 207
Paying Sales Tax 208
Taking a Discount for Early Payment 209
7 Using Time-Saving Features 211
Introduction 211
Memorizing Transactions 212
Memorizing a Group of Transactions 213
Using Memorized Transactions 215
Scheduling Recurring Transactions 216
Changing Memorized and Scheduled Transactions 219
Removing Memorized Transactions 221
Setting Reminders Preferences 222
Using Reminders 224
8 Job Cost Estimating and Tracking 225
Introduction 225
Setting Jobs and Estimate Preferences 226
Setting Up a Job 228
Tracking Job Status and Type 232
Using the Job Type Feature 233
Tracking Other Job Info 234
Working with Estimates 235
Invoicing Against an Estimate 237
Reporting on Job Estimates Versus Actuals 239
9 Tracking Time 241
Introduction 241
Setting Time Tracking Preferences 242
Installing the Timer 243
Exporting Information to the Timer 245
Creating a New Timer File 246
Creating a Timer Activity 248
Using the Timer 249
Sending Timer Data to QuickBooks 250
Importing Timer Data into QuickBooks 252
Viewing Timer Transactions 254
Editing Timer Transactions 255
Invoicing the Customer for Timer Activities 256
10 QuickBooks Tips and Tricks 257
Introduction 257
Setting Spelling Preferences 258
Creating a Budget 259
Preparing Budget Reports 263
Setting Up Classes 266
Using Classes on Sales and Purchase Forms 268
Reporting on Classes 269
Creating Payment Terms 270
Customizing Forms Design 271
Customizing Forms Data 274
Making Journal Entries 278
Using the QuickBooks Remote Access Feature 280
Creating Mailing Labels 281
11 Using Bank Feeds and Online Banking 283
Introduction 283
Choosing Bank Feeds Mode 284
Activating Bank Feeds 286
Retrieving Online Transactions 289
Manually Importing Transactions 290
Quick Add Transactions to QuickBooks 292
Adding More Details to Transactions 294
Batch Adding Transactions 296
Automatically Assigning Names and Accounts 297
Assigning Transactions to Open Vendor Bills 299
Deleting Transactions 300
Making Online Payments 301
Canceling Online Payments 302
Transferring Money Between Accounts 304
Getting Reports of Online Transactions 305
12 Preparing Income Tax Returns 307
Introduction 307
Choosing the Correct Income Tax Form 308
Assigning Tax Lines to New or Existing Accounts 310
Using the Income Tax Reporting 311
Making Estimated Tax Payments 315
Creating a Tax Return 316
13 Data Backup and Security 319
Introduction 319
Backing Up Your QuickBooks Company File 320
Restoring Backed-Up Information 324
Using the QuickBooks Online Backup Service 326
Adding or Editing the Administrator Password 328
Adding New or Editing Existing Users 329
Closing Financial Records at Year-End 333
Creating a Closing Date Exception Report 335
14 Using Inventory Features 337
Introduction 337
Activating Inventory 338
Setting Up Inventory Items 340
Adding to Your Inventory 343
Editing Inventory Items 344
Creating an Inventory Group 346
Managing Sales Orders 348
Setting Up Reminders to Replenish Your Inventory 350
Preparing Inventory Reports 352
Counting Your Inventory 354
Adjusting Inventory Quantities 355
Adjusting the Default Price of Inventory 356
15 Recording Your Assets 359
Introduction 359
Reconciling Your Bank Statement 360
Recording Bank Account Transfers 363
Tracking Petty Cash 364
Receiving Credit Card Payments 365
Recording Deposits as Assets 366
Purchasing Fixed Assets 367
Entering Depreciation 370
Selling Fixed Assets 371
16 Recording Owners’ Equity 373
Introduction 373
Understanding the Opening Balance Equity Account 374
Recording Owners’ Distributions 377
Entering Prior Period Adjustments 379
Viewing Transactions in Retained Earnings Account 380
17 Recording Liabilities 381
Introduction 381
Managing Accounts Payable 383
Recording Payroll Tax Accruals Without a QuickBooks Payroll Subscription 384
Setting Up Credit Card Accounts 385
Accounting for Deposits or Retainers 390
Recording Loans 391
Using the QuickBooks Loan Manager 392
Recording Loan Payments 395
18 Working with Reports in QuickBooks 397
Introduction 397
Looking at the Company Snapshot 398
Using the Report Center 400
Setting Report and Graph Preferences 403
Modifying Reports 406
Creating and Using Report Groups 409
Memorizing Reports 411
Importing and Exporting Report Templates 412
Understanding Sharing and Contributed Reports 414
Learning Other Reporting Tips and Tricks 416
Workshops 419
Introduction 419
Project 1: Creating Your Own Favorites Menu 419
Project 2: Customizing the Company Snapshot 421
Project 3: Using Document Management 423
Project 4: Color-Coding Your Accounts 425
Project 5: Using To Do Notes 426
Project 6: Using the Lead Center 429
Index 433
Michelle L. Long, CPA, MBA, is an international speaker, author, and consultant. She is the owner of Long for Success, LLC, and cohost of Ultimate Accounting vCon (www.accountingvcon.com) a virtual conference for accounting professionals.
Since 1999, Michelle has taught tens of thousands of people in seminars or webinars for Intuit, Staples, Office Depot, Small Business Development Centers, and the Kauffman Foundation. Whether Michelle is presenting on using QuickBooks, understanding financial information, improving cash flow, effective marketing, or other topics, people always discover information that is valuable and useful for them in their business.
Michelle has recorded QuickBooks training courses (videos/DVD) and authored QuickBooks Practice Sets (details at www.LongforSuccess.com/Learn-QuickBooks) to help people learn and get more experience and confidence using QuickBooks.
She is the author of Successful QuickBooks Consulting: The Comprehensive Guide to Starting and Growing a QuickBooks Consulting Business, How to Start a Home-Based Bookkeeping Business, and numerous courses for Intuit Academy.
Michelle was named one of 10 Women who Inspire a Profession by Accounting Today, a Small Business Influencer Champion and Community Choice Winner by Small Business Trends, and a Financial Services Champion by the Small Business Administration in recognition of her dedication to helping entrepreneurs and small business owners. Michelle’s blog was named 10 Accounting Blogs Worth Watching by Accounting Today (www.LongforSuccess.com/Blog) and a Community Choice Small Business Influencer too.
Gail Perry is a CPA and a financial journalist. She is the editor-in-chief of CPA Practice Advisor, the leading technology magazine for members of the accounting profession. 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 and their businesses. Gail is a former senior tax accountant with the Big Four firm Deloitte, where she specialized in providing tax planning services and advice to small businesses.
Gail has a degree in English and journalism from Indiana University and has written hundreds of newspaper and magazine articles about taxes, accounting, personal and business finances, and financial software. She is the author of more than 30 books, including The Complete Idiot’s Guide to Doing Your Income Taxes, Quicken All-In-One Desk Reference for Dummies, and Surviving Financial Downsizing: A Practical Guide to Living Well on Less Income.
|
Ask a Question About this Product More... |
|
