Madeira, L: QuickBooks 2014 in Depth

Information 54 Setting Up Users and Permissions 55 External Accountant 56 Other QuickBooks Users 57 User Security in QuickBooks Enterprise 59 Overview of Comprehensive User Security in QuickBooks Enterprise 59 Set Up and Modify User Roles 60 Set Up Users 63 Reporting on User Activity 65 2 Getting Around QuickBooks 67 Home Page and Navigation 67 Title Bar 67 Menu Bar 68 Top Icon Bar 69 Left Icon Bar 72 Home Page 74 Open Windows List 77 Tutorials 79 Preferences 79 Accounting-Company Preferences 79 Desktop View-My Preferences 80 General-My Preferences 81 Spelling-My Preferences 82 Help Options 82 Selecting a Company File to Open 83 Opening Your Data File for the First Time 83 Choosing from a List of Multiple Data Files 84 3 Accounting 101 87 Basic Principles of Accounting 87 The Matching Principle 87 Accrual Versus Cash Basis Reporting 89 Basic Financial Reports 91 Balance Sheet 91 Income Statement 91 Statement of Cash Flows 92 Accounting Checklist to Help You Manage Your Financials 92 Setting Up a QuickBooks Data File for Accrual or Cash Basis Reporting 94 Cash or Accrual Basis Startup Transactions: Accounts Receivable 95 Cash or Accrual Basis Startup Transactions: Accounts Payable 100 Cash or Accrual Basis Startup Transactions: Bank Account Statement Balance 103 Cash or Accrual Basis Startup Transactions: Recording Uncleared Bank Checks 105 4 Understanding QuickBooks Lists 107 Chart of Accounts 108 Account Types 108 Adding a New Account 110 Items 112 Understanding Items 112 Item Types 113 Adding an Item 115 Class 117 Customer Type 120 Managing Lists 120 Chart of Account Preferences 121 Add/Edit Multiple List Entries 122 Add Your Excel Data to QuickBooks Utility 124 Importing an Intuit Interchange Format File (IIF) 129 Reporting on Lists 132 Finding and Fixing Chart of Account Errors 132 QuickBooks Required Accounts 133 Making an Account Inactive 133 Merging Duplicated Accounts 134 Modifying an Account in the Chart of Accounts 135 Assigning or Removing a Subaccount Relationship 136 Finding and Fixing Item List Errors 139 Reviewing the Item List on the Computer Screen 139 Item Listing Report 140 Profit & Loss Standard Report 142 Correcting One-Sided Items 144 Making an Item Inactive 147 Merging Items 148 Creating Items As Subitems 149 5 Setting Up Inventory 151 Inventory Features by QuickBooks Edition 152 QuickBooks Pro 2014 152 QuickBooks Premier 2014 153 QuickBooks Enterprise Solutions Editions 153 Enabling Inventory Preferences 156 Inventory Item Type Descriptions 159 Inventory Part 160 Non-inventory Part 160 Group Items and Inventory Assemblies 160 Adding or Editing Inventory Items 161 Adding or Editing Individual Items 162 Using Add/Edit Multiple List Entries 166 Importing an Intuit Interchange Format File (IIF) 169 Changing Item Prices 170 Creating Inventory Assemblies 173 Creating Group Items 175 Setting Up Multiple Unit of Measurement 177 Proper Inventory Processes 180 Purchasing, Receiving, and Entering the Vendor Bill 182 Paying for Inventory 190 Selling Inventory 193 Working with Group Items 194 Working with Assemblies 195 Handling Inventory Backorders 196 Handling Customer Inventory Returns 200 Handling Vendor Inventory Returns 203 6 Managing Inventory 205 Adjusting Inventory 205 Performing a Physical Inventory Count 206 Quantity Adjustments 207 Value Adjustments 209 Inventory Reporting 211 Inventory Center 212 Report Center 213 Inventory Valuation and Your Financials 214 Reviewing the Recorded Average Cost Valuation 217 Reviewing Aged Item Receipts 219 Reviewing Aged Accounts Payable 223 How QuickBooks Handles Negative Inventory 224 When Inventory Has an Average Cost from Prior Purchase Transactions 224 When Inventory Does Not Have a Prior Average Cost 227 7 Setting Up Vendors 231 Customizing Your Home Page for Vendor Activities 231 Preferences That Affect Accounts Payable 232 Accounting 232 Bills 233 Calendar 234 Checking 234 General 235 Reminders 236 Reports and Graphs 237 Tax:1099 237 Time & Expenses 239 Working with the Vendor Center 240 Adding or Modifying Vendors 242 Finding Vendor Transactions 245 The Accounts Payable Process 247 Accounts Payable Transactions 247 Accounts Payable Workflow 249 Entering a Purchase Order 251 Recording Vendor Bills 251 Recording Vendor Credits 254 Paying Vendor Bills 256 Applying Vendor Credits 259 Taking Discounts on Vendor Bills 262 8 Managing Vendors 265 Accounts Payable Reporting 265 Reconciling Balance Sheet Accounts Payable Balance to A/P Aging Summary Report Total 265 Reviewing the Unpaid Bills Detail Report 267 Reviewing Aged Open Item Receipts 268 Reviewing Item Setup 270 Accounts Payable Balance on Cash Basis Balance Sheet 272 Tracking and Reporting Vendor 1099-MISC Payments 275 Correcting Accounts Payable Errors 285 When Vendor Bills Are Paid Without Using the Proper Process 285 Misapplied Vendor Credit 288 Removing Aged Open Item Receipts or Vendor Bills 289 Making General Journal Adjustments to Accounts Payable 290 Handling Unique Accounts Payable Transactions 293 Bartering Services with Your Vendors 293 Recording Vendor Prepayments 295 Entering Midyear 1099 Balances 298 Memorizing Recurring Transactions 299 Depositing a Vendor Refund 300 Paying and Recording a Credit Card Bill 301 9 Setting Up Customers 303 Customizing Home Page Customer Activities 304 Preferences That Affect Accounts Receivable 304 Payments 306 Sales & Customers 307 Checking 308 Finance Charge 309 Jobs & Estimates 310 Reminders 311 Reports & Graphs 312 Sales Tax 314 Send Forms 315 Spelling 316 Time & Expenses 316 Working with the Customer Center 318 Adding or Modifying Customers and Jobs 319 Finding Customer Transactions 323 Working with Prospects in the Lead Center 325 Setting Up Sales Tax 327 Creating Sales Tax Items 327 Creating Sales Tax Group Items 328 Creating Sales Tax Codes 329 Assigning Sales Tax Codes to Products or Services 331 Assigning Sales Tax Codes and Sales Tax Items to Customers 332 Creating Price Level Lists 333 Using Advanced Pricing in QuickBooks Enterprise 334 Price Rules 335 Quantity Discount 336 Creating Payment Terms 338 Customizing QuickBooks Forms 339 Using the Customize My Forms Wizard 340 Using the Customize Data Layout Tool 343 Accounts Receivable Processes 346 Using QuickBooks Estimates 348 Using QuickBooks Sales Orders 349 Creating Customer Invoices 350 Time and Expense Invoicing 363 Recording a Sales Receipt 367 Recording a Statement Charge 369 Recording the Customer Payment 370 Making the Bank Deposit 373 Recording and Applying a Customer Credit Memo 376 Refunding a Customer's Overpayment 379 10 Managing Customers 381 Accounts Receivable Reporting 381 Reviewing A/R Aging Summary and Detail Reports 382 Reviewing the Open Invoices Report 383 Reconciling Accounts Receivable Totals 385 Viewing the Accounts Receivable Balance on a Cash Basis Balance Sheet 386 Income Tracker 388 Enable the Collections Center 391 Generating the Missing Customer Invoices Report 393 Sales Tax Payable Reports 394 Reviewing Customer Lists for Tax Code and Tax Item Assigned 394 Reviewing the Item List for Tax Code Assigned 395 Reconciling Total Sales to Total Income 396 Reconciling Sales Tax Liability to Balance Sheet Sales Tax Payable 397 When a Check or Bill Is Used to Pay Sales Tax 398 Paying Sales Tax 398 Paying Sales Tax Without an Adjustment 399 Paying Sales Tax with an Adjustment 400 Correcting Accounts Receivable Errors 402 Removing an Open Balance from a Customer Invoice 403 Correcting Customer Payments 407 When a Credit Memo Is Applied to the Wrong Customer Invoice 411 When Deposits Were Made Incorrectly 412 Eliminating the Print Queue for Customer Invoices Marked to Print 418 Correcting Sales Tax Errors 419 When a Check or Bill Is Used to Pay the Sales Tax 419 When the Sales Tax Liability Report Shows Past Sales Tax Due 420 When Total Sales Does Not Equal Total Income 422 Correcting Undeposited Funds Account Errors 426 Reviewing the Balance in the Undeposited Funds Account 426 Removing Old Dated Payments in the Undeposited Funds Account 429 Unique Customer Transactions 431 Recording Your Accountant's Year-End Adjusting Journal Entry to Accounts Receivable 432 When a Customer Is Also a Vendor 432 Recording a Customer's Bounced Check 434 Tracking Customer Deposits in QuickBooks 438 Unique Sales Tax Transactions 439 When Your State Imposes a Maximum Sales Tax 439 Multiple Sales Tax Rates on One Invoice 441 Issuing Credit Memos When Sales Tax Should Not Have Been Charged 442 11 Setting Up Payroll 445 Getting Started 445 Payroll Process Overview 446 Selecting and Activating a Payroll Service Subscription 447 Updating Payroll Tax Tables 449 Employer Resources 450 Creating Payroll Accounts in the Chart of Accounts 452 Setting Up Payroll Tax Vendors 454 Payroll Preferences 455 Using the Payroll Setup Interview 458 Using the Run Payroll Checkup Diagnostic Tool 466 Setting Up Employees 469 Using the Employee Center 469 Adding or Editing Employee Information 470 Finding Payroll Transactions 473 Setting Up Payroll Items 475 Adding or Editing Payroll Items 475 Reporting About Payroll Items 478 Paying Employees 479 Payroll Home Page Workflow 480 Entering Employee Time 480 Preparing Employee Paychecks 482 Printing Paychecks or Paystubs 484 ViewMyPaycheck 485 Preparing Payroll Liability Payments 487 Paying Scheduled Liabilities 487 Adjusting Payroll Liabilities 488 12 Managing Payroll 491 Report Center Payroll Reports 491 Excel Reports 492 Tax Forms and Filings 494 Preparing and Printing Tax Forms 494 E-Filing Tax Payments and Forms 497 Troubleshooting Payroll 497 Comparing Payroll Liability Balances to the Balance Sheet 497 Comparing the Payroll Summary Report to Filed Payroll Returns 500 Reconciling Payroll Reports to Business Financials 500 Recording Unique Payroll Transactions 501 Employee Loan Payment and Repayment 501 Reprinting a Lost Paycheck 506 Paying a Taxable Bonus 507 Adjusting an Employee Paycheck 508 Allocating Indirect Costs to Jobs Through Payroll 509 Depositing a Refund of Payroll Liabilities 514 Recording Payroll When Using an Outside Payroll Service 515 13 Working with Bank and Credit Card Accounts 519 Preferences That Affect Banking and Credit Card Management 520 Working with Write Check Transactions 520 Using the Expenses Tab and Items Tab 521 Writing a Check 523 Printing Checks 526 Entering a Bank Debit Charge 529 Entering Credit Card Charges 529 Paying the Credit Card Bill 531 Transferring Funds Between Bank Accounts 532 Bank Feeds 532 Set Up Bank Feeds 533 Manage Bank Feeds 534 Renaming Rules in Bank Feeds 537 Reconciling the Bank or Credit Card Account 538 Troubleshooting Reconciliations 541 Determining Whether the Account Has Been Reconciled 541 Verifying That All Account Transactions Have Been Entered 543 Identifying All Uncleared Transactions 544 Completing the Multi-year or Multi-month Bank Reconciliation 545 Reviewing Uncleared Transactions 546 Reviewing Previous Bank Reconciliation Reports 548 Locating Bank Account Reconciliation Discrepancies 548 Reviewing the Voided/Deleted Transactions Reports 549 Restarting a Previously Completed Bank Reconciliation 550 Undoing a Previous Bank Reconciliation 550 Reconciling with an Adjustment 551 14 Reporting in QuickBooks 553 Using the Company Snapshot 553 Customizing the Company Snapshot 554 Defaulting the Company Snapshot as Home Page 556 Report Center 557 Reports & Graphs Preferences 559 My Preferences 559 Company Preferences 560 Modifying Reports 563 Modifying Options Available on the Report Window 563 Customizing Reports 564 Report Groups 565 Creating Report Groups 565 Using Report Groups 566 Managing Memorized Report List and Memorized Report Groups 568 Memorized Reports 569 Exporting and Importing Report Templates 570 Exporting a Report or Report Group Template 570 Importing a Report or Report Group Template 571 Exporting Reports to a .CSV File or to Excel 571 Emailing Reports 573 15 Reviewing Your Data 575 Reviewing the Balance Sheet 575 Account Types 576 Prior Year Balances 577 Bank Account Balance(s) 578 Accounts Receivable 578 Undeposited Funds 579 Inventory 580 Other Current Assets 581 Fixed Assets 582 Accounts Payable 583 Credit Cards 584 Payroll Liabilities 584 Sales Tax Payable 585 Other Current Liabilities and Long-Term Liabilities 585 Equity 585 Reviewing the Profit & Loss Report 586 Other Reviews 587 Tracking Changes to Closed Accounting Periods 587 Using the Audit Trail Report 588 Using the Credit Card Audit Trail Report 589 Reporting on Voided/Deleted Transactions 591 Viewing the Transactions List by Date Report 592 Troubleshooting Opening Balance Equity Account 593 Closing Opening Balance Equity into Retained Earnings 593 16 Sharing QuickBooks Data with Your Accountant 597 Overview 597 Benefits for the Business Owner 598 Benefits for the Accountant 598 QuickBooks File Types 599 Choosing a Method to Share Data 599 Data Sharing for the Business Owner 603 Reviewing Your QuickBooks Data 604 Creating an Accountant's Copy of Your Data 604 What the Business Owner Can and Cannot Do 609 Importing Your Accountant's Changes 610 Canceling an Accountant's Copy 616 Data Sharing for the Accountant 616 File Manager 2014 617 Creating an External Accountant User Type 618 Preparing Your Client for Data Exchange 619 Receiving an Accountant's Copy File 619 What the Accountant Can Do 623 What the Accountant Cannot Do 626 Returning the Accountant's Copy Change File to the Client 626 What to Request from the Client When the Import Is Complete 629 Converting the Accountant's Copy to a Regular Company File 629 Other Methods of Sharing Data 630 Send General Journal Entries 630 Batch Enter Transactions 632 Client and Accountant Collaboration 634 Access to Client Collaborator 635 How the Accountant Gets Started 636 How the Business Owner Gets Started 637 Accountant and Client Converse via Client Collaborator 638 17 Managing Your QuickBooks Database 643 The QuickBooks Database 643 System Requirements 644 Express Installation of QuickBooks 646 Installing QuickBooks for Multiuser Mode 647 The QuickBooks Database Server Manager 648 Windows Permissions Required for QuickBooks 650 Keeping Your Software Current 651 Upgrading Your QuickBooks Version 651 Installing a QuickBooks Maintenance Release 652 Protecting Your QuickBooks Database 653 Creating a QuickBooks Backup 653 Protecting the QuickBooks Operating Environment 656 Using Intuit Data Protect Online Backup Service 659 Monitoring Your QuickBooks Database 660 The Product Information Dialog Box 660 Using the Verify Data Utility 663 Monitoring QuickBooks Performance Using Windows Task Manager 663 QuickBooks Database Corruption 664 Common Causes of Corruption 664 Signs of Data Corruption 665 The QBWin.log File 665 Repairing List Corruptions 668 Reducing Database File Fragments 669 Rebuilding Your Company File 670 Using the QuickBooks File Doctor 671 Resolving QuickBooks Program File Corruption Issues 673 18 Using Other Planning and Management Tools 675 Planning and Budgeting 675 Create a Budget 676 Edit a Budget 678 Print Budget Reports 679 Delete a Budget 681 QuickBooks Loan Manager 681 Information to Collect 682 Getting QuickBooks Ready 682 Setting Up a New Loan 682 Setting Up a Loan Payment 684 Using the Year-End Guide 685 Synchronizing QuickBooks Lists with Microsoft Outlook 686 Using the QuickBooks Timer 690 Installing the QuickBooks Timer 691 Tracking Time with the Timer 691 Exporting Timer Activities 692 Importing Timer Activities into QuickBooks 693 A Client Data Review 695 B QuickBooks Statement Writer 753 C QuickBooks Enterprise Solutions Features 783 D QuickBooks Shortcuts 835 TOC, 9780789752635, 3/5/2014