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QuickBooks 2015 All-in-One For Dummies

Name: QuickBooks 2015 All-in-One For Dummies
Author: Stephen L. Nelson
ISBN: 9781118920176

by Stephen L. Nelson

November 2014

Beginner

600 pages

14h 45m

English

For Dummies

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Introduction
About This BookFoolish AssumptionsIcons Used in This BookBeyond the BookWhere to Go from Here
Book I: An Accounting Primer
Chapter 1: Principles of Accounting
The Purpose of AccountingThe big pictureManagers, investors, and entrepreneursExternal creditorsGovernment agenciesBusiness form generationReviewing the Common Financial StatementsThe income statementBalance sheetStatement of cash flowsOther accounting statementsPutting it all togetherThe Philosophy of AccountingRevenue principleExpense principleMatching principleCost principleObjectivity principleContinuity assumptionUnit-of-measure assumptionSeparate-entity assumptionA Few Words about Tax Accounting
Chapter 2: Double-Entry Bookkeeping
The Fiddle-Faddle Method of AccountingHow Double-Entry Bookkeeping WorksThe accounting modelTalking mechanicsAlmost a Real-Life ExampleRecording rent expenseRecording wages expenseRecording supplies expenseRecording sales revenueRecording cost of goods soldRecording the payoff of accounts payableRecording the payoff of a loanCalculating account balanceUsing T-account analysis resultsA Few Words about How QuickBooks Works
Chapter 3: Special Accounting Problems
Working with Accounts ReceivableRecording a saleRecording a paymentEstimating bad debt expenseRemoving uncollectible accounts receivableRecording Accounts Payable TransactionsRecording a billPaying a billTaking some other accounts payable pointersInventory AccountingDealing with obsolete inventoryDisposing of obsolete inventoryDealing with inventory shrinkageAccounting for Fixed AssetsPurchasing a fixed assetDealing with depreciationDisposing of a fixed assetRecognizing LiabilitiesBorrowing moneyMaking a loan paymentAccruing liabilitiesClosing Out Revenue and Expense AccountsThe traditional closeThe QuickBooks closeOne More Thing . . .
Book II: Getting Ready to Use QuickBooks
Chapter 1: Setting Up QuickBooks
Planning Your New QuickBooks SystemWhat accounting doesWhat accounting systems doWhat QuickBooks doesAnd now for the bad newsInstalling QuickBooksDealing with the Pre-Setup JittersPreparing for setupSeeing what happens during setupRunning the QuickBooks Setup WizardGetting the big welcomeSupplying company informationCustomizing QuickBooksSetting your start dateReviewing the suggested chart of accountsAdding your information to the company fileIdentifying the Starting Trial BalanceA simple example to startA real-life example to finish
Chapter 2: Loading the Master File Lists
Setting Up the Chart of Accounts ListSetting Up the Item ListWorking with the Price Level ListUsing Sales Tax CodesSetting Up a Payroll Item ListSetting Up ClassesSetting Up a Customer ListSetting Up the Vendor ListSetting Up a Fixed Assets ListSetting Up a Price Level ListSetting Up a Billing Rate Level ListSetting Up Your EmployeesSetting Up an Other Names ListSetting Up the Profile Lists
Chapter 3: Fine-Tuning QuickBooks
Accessing the Preferences SettingsSetting the Accounting PreferencesUsing account numbersSetting general accounting optionsSetting the Bills PreferencesSetting the Calendar PreferencesSetting the Checking PreferencesChanging the Desktop ViewSetting Finance Charge Calculation RulesSetting General PreferencesControlling Integrated ApplicationsControlling InventoryControlling How Jobs and Estimates WorkDealing with Multiple CurrenciesStarting Integrated Payment ProcessingControlling How Payroll WorksTelling QuickBooks How Reminders Should WorkSpecifying Reports & Graphs PreferencesSetting Sales & Customers PreferencesSpecifying How Sales Are TaxedSetting the Search PreferencesSetting the Send Forms PreferencesFine-Tuning the Service ConnectionControlling Spell CheckingControlling How 1099 Tax Reporting WorksSetting Time & Expenses Preferences
Book III: Bookkeeping Chores

Chapter 1: Invoicing Customers
Choosing an Invoice FormCustomizing an Invoice FormChoosing a template to customizeReviewing the Additional Customization optionsMoving on to Basic CustomizationWorking with the Layout Designer toolWorking with the web-based Forms Customization toolInvoicing a CustomerBilling for TimeUsing a weekly time sheetTiming single activitiesIncluding billable time on an invoicePrinting InvoicesE-Mailing InvoicesRecording Sales ReceiptsRecording Credit MemosReceiving Customer PaymentsAssessing Finance ChargesSetting up finance charge rulesCalculating finance chargesUsing Odds and Ends on the Customers Menu
Chapter 2: Paying Vendors
Creating a Purchase OrderCreating a real purchase orderUsing some purchase order tips and tricksRecording the Receipt of ItemsSimultaneously Recording the Receipt and the BillEntering a BillIf you haven’t previously recorded an item receiptIf you have previously recorded an item receiptPaying BillsReviewing the Other Vendor Menu CommandsVendor CenterSales Tax menu commandsInventory Activities menu commandsPrint/E-file 1099sItem List
Chapter 3: Tracking Inventory and Items
Looking at Your Item ListUsing the Item Code columnUsing the Item List windowUsing inventory reportsAdding Items to the Item ListAdding an item: Basic stepsAdding a service itemAdding an inventory partAdding a non-inventory partAdding an other charge itemAdding a subtotal itemAdding a group itemAdding a discount itemAdding a payment itemAdding a sales tax itemSetting up a sales tax groupAdding custom fields to itemsEditing ItemsAdjusting Physical Counts and Inventory ValuesAdjusting Prices and Price LevelsUsing the Change Item Prices commandUsing price levelsManaging Inventory in a Manufacturing FirmHandling manufactured inventory the simple wayPerforming inventory accounting in QuickBooksManaging multiple inventory locations
Chapter 4: Managing Cash and Bank Accounts
Writing ChecksRecording and printing a checkCustomizing the check formMaking Bank DepositsTransferring Money between Bank AccountsWorking with the RegisterRecording register transactionsUsing Register window commands and buttonsUsing Edit Menu CommandsReconciling the Bank AccountReviewing the Other Banking CommandsOrder Checks & Envelopes commandEnter Credit Card Charges commandBank Feeds commandLoan ManagerOther Names list
Chapter 5: Paying Employees
Setting Up Basic PayrollSigning up for a payroll serviceSetting up employeesSetting up year-to-date amountsChecking your payroll setup dataScheduling Payroll RunsPaying EmployeesEditing and Voiding PaychecksPaying Payroll Liabilities
Book IV: Accounting Chores
Chapter 1: For Accountants Only
Working with QuickBooks Journal EntriesRecording a journal entryReversing a journal entryEditing journal entriesUpdating Company InformationWorking with Memorized TransactionsReviewing the Accountant & Taxes ReportsCreating an Accountant’s Copy of the QuickBooks Data FileCreating an accountant’s copyUsing an accountant’s copyReusing an accountant’s copyExporting client changesImporting accountant’s changesCanceling accountant’s changesUsing the Client Data Review Commands
Chapter 2: Preparing Financial Statements and Reports
Some Wise Words Up FrontProducing a ReportWorking with the Report WindowWorking with Report window buttonsUsing the Report window boxesModifying a ReportUsing the Display tabUsing the Filters tabUsing the Header/Footer tabFormatting fonts and numbersProcessing Multiple ReportsA Few Words about Document Retention
Chapter 3: Preparing a Budget
Reviewing Common Budgeting TacticsTop-line budgetingZero-based budgetingBenchmarkingPutting it all togetherTaking a Practical Approach to BudgetingUsing the Set Up Budgets WindowCreating a new budgetWorking with an existing budgetManaging with a BudgetSome Wrap-Up Comments on Budgeting
Chapter 4: Using Activity-Based Costing
Reviewing Traditional Overhead AllocationUnderstanding How ABC WorksThe ABC product line income statementABC in a small firmImplementing a Simple ABC SystemSeeing How QuickBooks Supports ABCTurning On Class TrackingUsing Classes for ABCSetting up your classesClassifying revenue amountsClassifying expense amountsAfter-the-fact classificationsProducing ABC reports
Chapter 5: Setting Up Project and Job Costing Systems
Setting Up a QuickBooks JobTracking Job or Project CostsJob Cost ReportingUsing Job EstimatesProgress Billing
Book V: Financial Management
Chapter 1: Ratio Analysis
Some Caveats about Ratio AnalysisLiquidity RatiosCurrent ratioAcid test ratioLeverage RatiosDebt ratioDebt equity ratioTimes interest earned ratioFixed-charges coverage ratioActivity RatiosInventory turnover ratioDays of inventory ratioAverage collection period ratioFixed-asset turnover ratioTotal assets turnover ratioProfitability RatiosGross margin percentageOperating income/salesProfit margin percentageReturn on assetsReturn on equity
Chapter 2: Economic Value Added Analysis
Introducing the Logic of EVASeeing EVA in ActionAn example of EVAAnother example of EVAReviewing Some Important Points about EVAUsing EVA When Your Business Has DebtThe first example of the modified EVA formulaAnother EVA with debt examplePresenting Two Final PointersAnd Now, a Word to My Critics
Chapter 3: Capital Budgeting in a Nutshell
Introducing the Theory of Capital BudgetingThe big thing is the returnOne little thing is maturityAnother little thing is riskThe bottom lineCalculating the Rate of Return on CapitalCalculating the investment amountEstimating the net cash flowsCalculating the returnMeasuring LiquidityThinking about RiskWhat Does All This Have to Do with QuickBooks?
Book VI: Business Plans
Chapter 1: Profit-Volume-Cost Analysis
Seeing How Profit-Volume-Cost Analysis WorksCalculating Break-even PointsUsing Real QuickBooks Data for Profit-Volume-Cost AnalysisSales revenueGross margin percentageFixed costsRecognizing the Downside of the Profit-Volume-Cost ModelUsing the Profit-Volume-Cost Analysis WorkbookCollecting your inputsUnderstanding the break-even analysisUnderstanding the profit-volume-cost forecastLooking at the profit-volume-cost charts
Chapter 2: Creating a Business Plan Forecast
Reviewing Financial Statements and RatiosUsing the Business Plan WorkbookUnderstanding the Workbook CalculationsForecasting inputsBalance SheetCommon Size Balance SheetIncome StatementCommon Size Income StatementCash Flow StatementInventory InvestmentsFinancial Ratios TableCustomizing the Starter WorkbookChanging the number of periodsPerforming ratio analysis on existing financial statementsCalculating taxes for a current net loss before taxesCombining this workbook with other workbooks
Chapter 3: Writing a Business Plan
What the Term “Business Plan” MeansA Few Words about Strategic PlansCost strategiesDifferentiated products and services strategiesFocus strategiesLook, Ma: No StrategyTwo comments about tacticsFive final strategy pointersA White Paper Business PlanA New Venture PlanIs the new venture’s product or service feasible?Does the market want the product or service?Can the product or service be profitably sold?Is the return on the venture adequate for prospective investors?Can existing management run the business?Some final thoughts
Book VII: Care and Maintenance
Chapter 1: Administering QuickBooks
Keeping Your Data ConfidentialUsing Windows securityUsing QuickBooks securityUsing QuickBooks in a Multi-User EnvironmentSetting up additional QuickBooks usersChanging user rights in Enterprise SolutionsChanging user rights in PremierUsing Audit TrailsTurning on audit trail trackingProducing an Audit Trail reportEnabling Simultaneous Multi-User AccessMaintaining Good Accounting Controls
Chapter 2: Protecting Your Data
Backing Up the QuickBooks Data FileBacking-up basicsWhat about online backup?Some backup tacticsRestoring a QuickBooks Data FileCondensing the QuickBooks Company FilesCleanup basicsSome cleanup and archiving strategies
Chapter 3: Troubleshooting
Using the QuickBooks Help File and This BookBrowsing Intuit’s Product-Support WebsiteChecking Another Vendor’s Product-Support WebsiteTapping into Intuit’s Online and Expert CommunitiesTrying an Internet NewsgroupWhen All Else Fails . . .
Book VIII: Appendixes
Appendix A: A Crash Course in Excel
Starting ExcelStopping ExcelExplaining Excel’s WorkbooksPutting Text, Numbers, and Formulas in CellsWriting FormulasScrolling through Big WorkbooksCopying and Cutting Cell ContentsCopying cell contentsMoving cell contentsMoving and copying formulasFormatting Cell ContentsRecognizing That Functions Are Simply FormulasSaving and Opening WorkbooksSaving a workbookOpening a workbookPrinting Excel WorkbooksOne Other Thing to Know
Appendix B: Government Web Resources for Businesses
Bureau of Economic AnalysisFinding information at the BEA websiteDownloading a BEA publicationUncompressing a BEA publicationUsing a BEA publicationBureau of Labor StatisticsFinding information at the BLS websiteUsing BLS informationCensus BureauFinding information at the Census Bureau websiteUsing the Census Bureau’s publicationsUsing the Census Bureau search engineUsing the Census Bureau Subjects indexSecurities and Exchange CommissionFinding information through EDGARSearching the EDGAR databaseFederal ReserveFinding information at the Federal Reserve websiteUsing the Federal Reserve website’s informationGovernment Printing OfficeInformation available at the GPO Access websiteSearching the GPO Access databaseInternal Revenue Service
Appendix C: Glossary of Accounting and Financial Terms
About the Author
Cheat Sheet
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Overview

Everything you need to learn about QuickBooks and small business finances in one handy guide!

QuickBooks All-in-One For Dummies is the solution small business owners and managers have been looking for. A compilation of eight content-rich minibooks in one, this guide provides the information and tools you need to get the most out of QuickBooks. Get expert advice from a CPA on common accounting tasks, financial management, business planning, how to protect your financial information and more. Written in the easy-to-read For Dummies style, this book provides clear, concise, practical instruction into taking advantage of everything QuickBooks can do for your business.

This book is your roadmap to complete business finance management, guiding you through the basics of QuickBooks, and then taking you even further. You'll start from the beginning and move into more advanced operations as you learn to:

Set up, customize, and fine-tune QuickBooks for your business

Invoice customers, pay vendors and employees, and track inventory

Manage accounts, financial statements, reports, budgets, set up project and job costing, and keep track of payroll

Analyze your data to create a business forecast or write a business plan that can help you find your niche

Discover useful online resources for businesses

More than just a user manual, this guide walks you through topics that are important to small business success. QuickBooks All-in-One For Dummies is a comprehensive guide to keeping your business on track.

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.

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