INTRODUCTION TO QUICKBOOKS PRESENTED BY SHARPER TRAINING SOLUTIONS

Transcription

1 INTRODUCTION TO QUICKBOOKS PRESENTED BY SHARPER TRAINING SOLUTIONS

2 CEIL HEARN Material: Newsletter:

3 INTRODUCTION

4 WHAT IS QUICKBOOKS? Accounting Software Package Help Businesses Keep Track Of Financial Data Designed To Help Manage: Customers Vendors Expenses Inventory Revenue

5 CREATE A NEW COMPANY FILE File, New Company Fed Tax ID or SS # Your Industry ex. Landscaping Organization ex. Sole Proprietor or Corp. Fiscal Year Starting Month Password File Save Location Selling Services or Products Sales Tax Estimates? Statements? Progress Invoicing?

6 THE QUICKBOOKS DESKTOP Menu Bar Icon Bar Home Page Flow Chart-Work Flow Essential Business Tasks Organized Into Logical Categories: Customers Vendors Employees Company Banking

7 BACK UP & RESTORE A DATA FILE BACK UP File, Backup Company, Create Local Backup

8 BACK UP & RESTORE A DATA FILE - RESTORE File, Open or Restore Company

9 PREFERENCES Edit / Preferences Customize QuickBooks to suit the needs of your business (Company Preferences) and your personal style of working (My Preferences)

10 HELP!!

11 QUICKBOOKS HELP Help Menu / QuickBooks Help

12 QUICK START CENTER Help Menu / Quick Start Center

13 LEARNING CENTER TUTORIALS Help Menu / Learning Center Tutorials

14 THE INTUIT COMMUNITY

15 CALL QUICKBOOKS SUPPORT $$$ Charges may apply

16 GOOGLE Search for your answer online

17 ACCOUNTING

18 QUICKBOOKS VS. ACCOUNTING QUICKBOOKS Customers Vendors Employees ACCOUNTING Accounts Receivable Accounts Payable Payroll

19 THE ACCOUNTING EQUATION Assets Liabilities = Equity

20 ACCOUNT TYPES Assets Liabilities Equity Income Expense

21 FINANCIAL REPORTS Assets Liabilities Equity Balance Sheet Analyze the net worth of a business Income Expense Profit & Loss / Income Statement Analyze profit & loss over a time range

22 DOUBLE-ENTRY ACCOUNTING Debits = Credits Total Debits Must Always Equal Total Credits

23 CASH OR ACCRUAL? ACCRUAL Revenues and expenses are recognized when the transactions occur. CASH Revenues and expenses are recognized when cash changes hands. *** IMPORTANT *** *** SPEAK WITH YOUR ACCOUNTANT! ***

24 ESSENTIAL TASKS

25 CUSTOMER CENTER List of Customers Selected Customer s Transactions

26 CUSTOMER TRANSACTIONS Use this to see lists of: Estimates Invoices Etc.

27 ADD A NEW CUSTOMER In Customer Center, New Customer

28 VENDOR CENTER List of Vendors Selected Vendor s Transactions

29 VENDOR TRANSACTIONS Use this to see lists of: Purchase Orders Item Receipts Bill Payments

30 ADD A NEW VENDOR In Vendor Center, New Vendor

31 ITEMS WHAT IS AN ITEM? Anything the company buys or sells Shows up as a line on an invoice or other sales form Examples - products, shipping and handling charges, discounts, sales tax

32 ITEM LIST List, Item List

33 ADD A NEW ITEM Item, New

34 CHART OF ACCOUNTS

35 WHAT IS THE CHART OF ACCOUNTS? Asset, liability, equity, income, and expense accounts to which you assign your daily transactions

36 Expense ACCOUNT TYPES Assets Bank Accounts Receivable Other Current Asset (Inventory; Undeposited Funds) Fixed Asset Other Assets (Intangible assets, life > 1 year) Liabilities Accounts Payable Credit Cards Other Current Liability (Expected to be paid within 1 year; payroll taxes; sales taxes) Long-Term Liability (> 1 year) Equity Income

37 ACCOUNT NUMBERS TURN ON ACCOUNT NUMBERS Edit (menu) Preferences Accounting Company Preferences Accounts Use Account Numbers CHANGE ACCOUNT NUMBERS Lists (menu) Chart of Accounts Select account to change Account (at bottom) Edit Account Change number in number field Save & Close

38 ADD A NEW ACCOUNT TO THE CHART OF ACCOUNTS Account, New

39 CHART OF ACCOUNTS MERGE ACCOUNTS In Chart of Accounts, select account you do NOT want Account Edit Account Change the account name so that it matches the account you're merging it with Save & Close Click Yes to confirm

40 CHART OF ACCOUNTS DELETE AN ACCOUNT In Chart of Accounts: Right click on account to be deleted Delete Account OK to confirm

41 ACCOUNT REGISTER Double click account

42 MONEY IN

43 ING FORMS Edit Preferences Send Forms My Preferences Web Mail Add Enter Info

44 CREATING AN ESTIMATE Customers, Create Estimate

45 CREATING AN INVOICE Customers, Create Invoice

46 CREATING A STATEMENT Customers, Create Statements

47 ENTERING SALES RECEIPTS Customers, Enter Sales Receipts

48 RECEIVING A PAYMENT Customers, Receive Payment

49 MAKING A DEPOSIT Banking, Make Deposits

50 MONEY OUT

51 ENTER BILLS Vendors, Enter Bills

52 WRITING CHECKS Banking, Write Checks

53 PURCHASE ORDERS Vendors, Create Purchase Orders

54 RECEIVE INVENTORY WITH BILL WITHOUT BILL

55 ENTER BILLS AGAINST INVENTORY

56 PAY BILLS

57 REFUNDS & CREDITS

58 PAY CREDIT CARDS ENTER CREDIT CARD CHARGES WRITE CHECKS

59 SALES TAX CUSTOMER RECORD ITEMS

60 MANAGING YOUR BUSINESS

61 YOUR CHECKING ACCOUNT Banking, Use Register

62 RECONCILE CHECKING ACCOUNT Banking, Reconcile

63 REPORTS

64 STANDARD REPORTS Reports, Report Center Views Carousel List Grid

65 DRILL DOWN In a report, where did a number come from? Point to the number and double click Original form will open

66 EXPORT TO EXCEL Open Report Click arrow on Excel button Choose Create New Worksheet or Update Existing Worksheet

67 CUSTOMIZE & MEMORIZE REPORTS Open Report Click Customize Report button Memorize Customized Report

68 OPEN MEMORIZED REPORTS Reports, Report Center

69 FAVORITES & RECENT REPORTS Reports, Report Center

70 CONTRIBUTED REPORTS Reports that are created by other QuickBooks users and made available to all. Reports, Report Center

71 REPORT CAROUSEL

72 PAYROLL

73 ADD NEW EMPLOYEE Employees, Employment Center Create New Employee

74 EMPLOYEE INFORMATION

75 PAYROLL INFORMATION

76 TAX INFORMATION

77 RUN PAYROLL Employees, Pay Employees, Scheduled Payroll Start Scheduled Payroll Double click for detail

78 EXTRAS

79 CUSTOMIZE FORMS Open Form, Formatting tab, Customize Data Layout

80 LAYOUT DESIGNER

81 MEMORIZE TRANSACTIONS For transactions that are entered frequently Edit, Memorize

82 CLASS TRACKING WHAT IS CLASS TRACKING Track account balances by department, business office or location, separate properties you own, or any other meaningful breakdown of your business When this preference is on, QuickBooks includes a Class field on all transactions TURN ON CLASS TRACKING Edit, Preferences Accounting Company Preferences tab Use Class Tracking & Prompt to Assign Classes

83 GENERAL JOURNAL ENTRIES Sometimes it is necessary to make adjustments to accounts in QuickBooks that cannot be performed in forms Company, Make General Journal Entries

84 INVENTORY Items are added in Purchase Orders, Bills, Credit Card Charges, Checks or Receive Inventory Adjusting Inventory: Inventory Activities Adjust Quantity/Value on hand Items are removed in Sales Orders, Invoices or Sales Receipts In manufacturing: Work Order/Sales Order or Build Assemblies

85 DEPRECIATION Create a subaccount for the fixed asset called Accumulated Depreciation Create a Depreciation expense account To Make an Entry: Open Accumulated Depreciation register Enter $ amount In the Account field, enter the Depreciation expense account