COMPUTER ACCOUNTING WITH

QUICKBOOKS 2013CHAPTER 7

Donna Kay

CHAPTER 7 OVERVIEW

Accounting Cycle Financial Statement Reports Tax Reports Management Reports Export Reports to Excel

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

ACCOUNTING CYCLE

Throughout the year: Chart of Accounts: add, update, and

delete accounts Transactions: record using onscreen

forms

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

ACCOUNTING CYCLE

At year-end, prepare: Trial Balance Adjustments: record with onscreen journal Adjusted Trial Balance Financial Statements and Reports

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

TRIAL BALANCE

Lists each account and the account balance at the end of the period

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

5 types of adjustment to bring the accounts up-to-date at year-end:

1. Depreciation

2. Prepaid Items

3. Unearned Revenue

4. Accrued Expenses

5. Accrued Revenues

ADJUSTMENTS

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

ADJUSTED TRIAL BALANCE

Trial Balance + / - Adjusting Entries = Adjusted Trial Balance

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

GENERAL LEDGER

General Ledger lists for each account: Beginning balance Transactions affecting each account Ending balance

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

REPORTS

Financial Statements Income Statement (P&L) Balance Sheet Statement of

Cash Flows

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

REPORTS

Tax Reports Income Tax Preparation Report Income Tax Summary Report Income Tax

Detail Report

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

REPORTS

Management Reports Cash Flow Forecast

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

Export reports to Excel using the Excel button

EXPORT REPORTS TO EXCEL

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

TO LEARN MORE …

See Chapter 7

Visit the Online Learning Centerwww.mhhe.com/kay2013

Visit www.myquickbooks.me

COMPUTER ACCOUNTING WITH QUICKBOOKS 2013