CHAPTER 10
CHAPTER 10 OVERVIEWComplete EasyStep
InterviewEdit Chart of
AccountsCreate ListsRecord TransactionsPrint Reports
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
1. Select File, New to open EasyStep Interview.
2. Answer EasyStep Interview questions to set up a new company.
EASYSTEP INTERVIEW
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Some differences for the Merchandising Company:
Select Industry: Retail Shop or Online Commerce.
Track Inventory: Yes
EASYSTEP INTERVIEW
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
QuickBooks will automatically create a Chart of Accounts for industry you select.
Chart of Accounts for a merchandiser will include some additional accounts, such as Inventory.
CHART OF ACCOUNTS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Customize the Chart of Accounts to fit your specific business needs by:1.Adding accounts2.Editing accounts3.Deleting accounts
For each account include:Account numberTax-Line mappingOpening balance, if applicable
CUSTOMIZE CHART OF ACCOUNTS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Create Lists to track additional information:
Customer List
Vendor List
Item List (Inventory)
Employee List
CREATE LISTS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
1.Enter customer information in the Customer List
2.Add job information to the Customer List.
CUSTOMER LIST
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Enter vendor information into the Vendor List.
VENDOR LIST
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Enter information about items to be purchased and sold:
1. Service items2. Inventory items3. Non-inventory items
ITEM LIST
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Record transactions for the Merchandising Corporation, including:
1. Owners’ investment2. Purchase of inventory3. Sales to customers
RECORD TRANSACTIONS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
For a merchandising company, record credit purchases:
1. Enter inventory items ordered using the Purchase Order icon.
2. Record the Inventory received using the Receive Inventory icon.
3. Record bill received using the Enter Bills Against Inventory icon.
4. Pay bill when due using the Pay Bills icon.5. Print the check using the Print Checks icon
(in the Banking section of the Home page).
PURCHASES OF INVENTORY
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Enter sales transactions with customers:1. Prepare an invoice to record customer
charges using Invoice window2. Record customer payment using Receive
Payments window3. Record deposit in bank using Make
Deposits window
SALES TRANSACTIONS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
To verify the accounting system is in balance at year-end, print a Trial Balance before making adjusting entries.
PRINT TRIAL BALANCE
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Use the onscreen Journal to enter adjusting entries to bring account up to date at year end.
ADJUSTING ENTRIES
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
To verify the accounting system is still in balance, print an Adjusted Trial Balance after making adjusting entries.
PRINT AN ADJUSTED TRIAL BALANCE
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
PRINT REPORTS
Financial reports for the year include:
General LedgerProfit & LossBalance SheetStatement of Cash Flows
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
CLOSE THE ACCOUNTING PERIOD
QuickBooks automatically closes the accounting period by closing all temporary accounts.
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
TURN TO CHAPTER 10
VISIT THE ONLINE LEARNING CENTERWWW.MHHE.COM/ULMER2009
VISIT THE STUDENT BLOGWWW.QUICKBOOKSBLOG.INFO
To Learn More....
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
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