QuickBooks in the Classroom

Transcription

1 QuickBooks in the Classroom Instructor s Resource Guide Intuit Education Program

2 Copyright Copyright 2007 Intuit Inc. Intuit Inc. All rights reserved. P.O. Box 7850 Trademarks Intuit, the Intuit logo, QuickBooks, QuickBooks Pro, QuickBase, Quicken, TurboTax, ProSeries, Lacerte, EasyStep, and QuickZoom, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. QuickBooks ProAdvisor is a trademark and/or service mark of Intuit Inc. in the United States and other countries. Other parties trademarks or service marks are the property of their respective owners and should be treated as such. Other Attributions The Sentry Spelling-Checker Engine Copyright 1993 Wintertree Software Inc. Important Mountain View, CA Terms, conditions, features, service offerings, prices, and hours referenced in this document are subject to change without notice. We at Intuit are committed to bringing you great online services through QuickBooks. Occasionally, we may decide to update our selection and change our service offerings, so please check for the latest information, including pricing and availability, on our products and services.

3 Table of contents Introduction 1 Introduction to the guide 2 Objectives 2 Toggling between QuickBooks editions 3 Integrating QuickBooks with other products 5 About the exercise file 5 QuickStart Tips 6 Teaching methodology and methods 6 Instructor preparation 7 Student prerequisites 8 Lesson 1: Getting started 9 Lesson objectives 10 Supporting materials 10 Instructor preparation 10 Course introduction 10 Introducing QuickBooks 11 Getting around in QuickBooks 14 All the accounting you need to know 23 Exiting QuickBooks 29 Moving between company files 29 Lesson 2: Setting up QuickBooks 31 Lesson objectives 33 Supporting materials 33 Instructor preparation 33 Creating a QuickBooks company 33 Entering company info 35 Customizing QuickBooks for your business 40 Setting up your business accounting 46 Completing company file setup 52 Getting help while using QuickBooks 62 Closing the company file 64 iii

4 Lesson 3: Working with lists 65 Lesson objectives 66 Supporting materials 66 Instructor preparation 66 To start this lesson 66 Using QuickBooks lists 67 Editing the chart of accounts 68 Working with the Customers & Jobs list 72 Working with the Employee Center 78 Working with the Vendor Center 83 Adding custom fields 87 Managing lists 94 Lesson 4: Working with bank accounts 105 Lesson objectives 106 Supporting materials 106 Instructor preparation 106 To start this lesson 106 Writing a QuickBooks check 107 Using bank account registers 110 Entering a handwritten check 112 Transferring money between accounts 114 Reconciling checking accounts 115 Lesson 5: Using other accounts in QuickBooks 123 Lesson objectives 124 Supporting materials 124 Instructor preparation 124 To start this lesson 124 Other account types in QuickBooks 125 Tracking credit card transactions 125 Working with asset accounts 133 Working with liability accounts 140 Understanding equity accounts 148 Lesson 6: Entering sales information 149 Lesson objectives 150 Supporting materials 150 Instructor preparation 150 To start this lesson 151 Using sales forms in QuickBooks 151 Filling in a sales form 155 Memorizing a sale 160 Entering a new service item 161 Using multiple price levels 164 Reminding customers of overdue payments 170 Processing sales orders 175 Tracking backorders 177 iv

5 T a b l e o f c o n t e n t s Lesson 7: Receiving payments and making deposits 187 Lesson objectives 188 Supporting materials 188 Instructor preparation 188 To start this lesson 188 Recording customer payments 189 Making deposits 200 Processing credit card payments 207 Lesson 8: Entering and paying bills 215 Lesson objectives 216 Supporting materials 216 Instructor preparation 216 To start this lesson 216 Handling bills in QuickBooks 217 Using QuickBooks for accounts payable 217 Entering bills 218 Paying bills 221 Lesson 9: Analyzing financial data 229 Lesson objectives 230 Supporting materials 230 Instructor preparation 230 To start this lesson 230 Reports and graphs help you understand your business 231 Creating QuickReports 232 Creating and customizing preset reports 238 Saving report settings 247 Printing reports 250 Exporting reports to Microsoft Excel 251 Creating QuickInsight graphs 257 Lesson 10: Setting up inventory 265 Lesson objectives 267 Supporting materials 267 Instructor preparation 267 To start this lesson 267 Turning on the inventory feature 268 Entering products into inventory 268 Ordering products 272 Receiving inventory 275 Entering a bill for inventory 277 Manually adjusting inventory 280 Tracking finished goods 282 Using units of measure 293 v

6 Lesson 11: Tracking and paying sales tax 307 Lesson objectives 308 Supporting materials 308 Instructor preparation 308 To start this lesson 308 Overview of sales tax in QuickBooks 309 Setting up your tax rates and agencies 310 Applying tax to each sale 316 Determining what you owe 319 Paying your tax agencies 322 Lesson 12: Doing payroll with QuickBooks 325 Lesson objectives 326 Supporting materials 326 Instructor preparation 326 To start this lesson 326 Overview of payroll tracking 327 Setting up for payroll 329 Setting up employee payroll information 331 Running a payroll schedule 347 Tracking your tax liabilities 351 Paying payroll taxes 354 Lesson 13: Estimating and progress invoicing 359 Lesson objectives 360 Supporting materials 360 Instructor preparation 360 To start this lesson 360 Creating jobs and estimates 361 Writing an estimate 366 Creating multiple estimates 368 Creating an invoice from an estimate 371 Displaying reports for estimates 374 Updating job status 376 Lesson 14: Tracking time 379 Lesson objectives 380 Supporting materials 380 Instructor preparation 380 To start this lesson 380 Tracking time and mileage 381 Invoicing a customer for time and mileage 387 Displaying project reports for time tracking 395 Paying nonemployees for time worked 397 vi

7 T a b l e o f c o n t e n t s Lesson 15: Customizing forms & writing QuickBooks Letters 405 Lesson objectives 406 Supporting materials 406 Instructor preparation 406 To start this lesson 406 About QuickBooks forms 407 Customizing invoices 407 Designing custom layouts for forms 416 Using QuickBooks Letters 423 Appendix A: Instructor demonstration of QuickBooks 431 Restoring the demo data file 432 Entering sales 432 Entering and paying bills 438 Managing inventory 446 Creating reports and graphs 452 Appendix B: Course handouts 453 Using the course handouts 454 Handout 1: Balance sheet accounts 455 Handout 2: Accounts created automatically 456 Handout 3: Registers associated with QuickBooks windows 457 Handout 4: QuickBooks item types 458 Handout 5: Inventory workflow 459 Handout 6: Group vs. inventory assembly items 460 Handout 7: Sales tax 461 Handout 8: Employer payroll responsibilities 462 Handout 9: Payroll item types 463 Handout 10: List of payroll expenses and liabilities 464 Index 465 vii

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