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QuickBooks 2005: The Missing Manual

Name: QuickBooks 2005: The Missing Manual
Author: Bonnie Biafore
ISBN: 9780596552572

by Bonnie Biafore

February 2005

Beginner to intermediate

608 pages

22h 4m

English

O'Reilly Media, Inc.

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QuickBooks 2005: The Missing Manual
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Copyright
The Missing Credits
About the Author
About the Creative Team
Acknowledgements
The Missing Manual Series
Introduction
What's New in QuickBooks 2005
Getting to Know QuickBooks
Choosing the Right QuickBooks Product
The QuickBooks Premier choices

Accounting Basics—The Important Stuff
About This Book
About the Outline
The Very Basics
About→These→Arrows
About MissingManuals.com
I. Getting Started
1. Creating a Company in QuickBooks
1.1. Opening QuickBooks
1.2. Creating a New Company
1.3. Steps to Take Before You Create Your Company File
1.3.1. A start date1.3.2. Finding account balances and open transactions
1.4. Starting the EasyStep Interview
1.4.1. The Welcome tab1.4.2. The Company Info tab1.4.3. The Preferences tab1.4.4. The Start Date tab
1.5. Income & Expenses
1.6. Income Details
1.7. Opening Balances
1.8. Open an Existing Company File
1.9. Convert a Quicken File to QuickBooks
1.10. Restore a Backup File
1.11. Modifying Company Information
2. Setting Up a Chart of Accounts
2.1. Obtaining a Chart of Accounts
2.2. Account Naming and Numbering
2.2.1. Setting Up Account Numbers2.2.2. Standardizing Account Names
2.3. Creating Accounts and Subaccounts
2.3.1. Creating an Account2.3.2. Viewing Account Names and Numbers
2.4. Modifying Accounts
2.5. Merging Accounts
2.6. Hiding and Deleting Accounts
2.6.1. Hiding Accounts2.6.2. Deleting Accounts
3. Setting Up Customers and Jobs
3.1. What to Do Before You Create Customers and Jobs3.1.1. Categorizing Customers and Jobs3.1.1.1. Creating types of customers3.1.1.2. Categorizing jobs
3.2. Creating Customers in QuickBooks
3.2.1. Creating a New Customer3.2.1.1. Entering address information3.2.1.2. Specifying additional customer information3.2.1.3. Designating Payment Information
3.3. Importing and Exporting Customer Information
3.3.1. Exporting Customer Information3.3.1.1. Exporting the Customer List3.3.1.2. Exporting addresses3.3.1.3. Customized exports using the Contact List report3.3.2. Importing Customer Information
3.4. Creating Jobs in QuickBooks
3.4.1. Creating a New Job
3.5. Modifying Customer and Job Information
3.6. Adding Notes About Customers
3.7. Merging Customer Records
3.8. Hiding and Deleting Customers
3.8.1. Deleting Customers3.8.2. Hiding Customers
4. Setting Up Invoice Items
4.1. What Items Do
4.2. When You Don't Need Items
4.3. Should You Track Inventory with Items?
4.4. The QuickBooks Item Types
4.4.1. Items for Services4.4.2. Items for Products4.4.3. Other Items
4.5. Planning Your Items
4.5.1. Generic or Specific?4.5.2. Item Naming4.5.3. Subitems4.5.4. Taxing Decisions
4.6. Creating Items
4.6.1. Service Fields4.6.2. Inventory Part Fields4.6.3. Non-inventory Part Fields4.6.4. Other Charge Fields4.6.5. Subtotal4.6.6. Group4.6.7. Discount4.6.8. Payment4.6.9. Sales Tax Item4.6.10. Sales Tax Group
4.7. Modifying Items
4.8. Hiding and Deleting Items
4.8.1. Hiding Items4.8.2. Deleting Items
5. Setting Up Other QuickBooks Lists
5.1. The Vendor List5.1.1. Entering Address Information5.1.2. Additional Info
5.2. Classes
5.3. Price Levels
5.4. Customer & Vendor Profile Lists
5.4.1. Sales Rep List5.4.2. Customer Type List5.4.3. Vendor Type List5.4.4. Job Type List5.4.5. Terms List5.4.6. Customer Message5.4.7. Payment Method List5.4.8. Ship Via List5.4.9. Vehicle List
5.5. Memorized Transactions
5.6. Fixed Asset Items
5.7. Creating and Editing List Entries
5.7.1. Creating Entries5.7.2. Editing Entries
5.8. Merging List Entries
5.9. Hiding and Deleting List Entries
5.9.1. Hiding Entries5.9.2. Deleting Entries
5.10. Sorting Lists
5.11. Printing Lists
5.11.1. Blasting Out a Quick List5.11.2. Customizing a Printed List
6. Configuring Preferences to Fit Your Company
6.1. An Introduction to Preferences
6.2. Accounting Preferences
6.3. Checking
6.3.1. Choosing the Bank Accounts You Use6.3.2. Setting the Way Company Checks Work6.3.3. Choosing Company-wide Payroll Accounts
6.4. Desktop View
6.4.1. Window Preferences6.4.2. Preferences for Saving the Desktop6.4.3. Choosing a Color Scheme
6.5. Finance Charge
6.6. General
6.6.1. Tuning QuickBooks to Your Liking6.6.2. Company-wide General Preferences
6.7. Jobs & Estimates
6.8. Payroll & Employees
6.9. Purchases & Vendors
6.10. Reminders
6.10.1. Reminders for Everyone6.10.2. Reminders on the My Preferences Tab
6.11. Reports & Graphs
6.11.1. Preferences for the Reports You Generate6.11.2. Preferences that Apply to Every Company Report
6.12. Sales & Customers
6.13. Sales Tax
6.14. Send Forms
6.15. Spelling
6.16. Tax: 1099
6.17. Time Tracking
7. Managing QuickBooks Files
7.1. Where to Store Your Company Files
7.2. Backing Up Files
7.2.1. Manual Backups7.2.2. Choosing Standard Settings for Your Backups7.2.3. Automated QuickBooks Backups7.2.4. Unattended Backups
7.3. Restoring Backups
7.4. Verifying Your QuickBooks Data
7.4.1. Running the Verify Data Utility7.4.2. Reviewing Problems7.4.3. Running the Rebuild Data Utility
7.5. Archiving and Condensing Files
7.5.1. Running the Archive & Condense Data Wizard
7.6. Deleting Files
II. Accounting with QuickBooks
8. Invoicing
8.1. Choosing the Right Type of Form8.1.1. Sales Receipts8.1.2. Statements8.1.3. Invoices
8.2. Creating Invoices
8.3. Filling in Invoice Header Fields
8.3.1. Choosing an Invoice Template8.3.2. Choosing the Customer or Job
8.4. The Rest of the Header Fields
8.5. Entering Invoice Line Items
8.5.1. Inserting and Deleting Line Items8.5.2. Invoicing for Billable Time and Costs8.5.2.1. Assigning time and expenses to customers or jobs8.5.2.2. Adding billable time and expenses to invoices8.5.3. Applying Subtotals, Discounts, and Percentage Charges8.5.4. Adding a Message to the Customer8.5.5. Choosing How to Send the Invoice8.5.6. Adding a Memo to Yourself
8.6. Invoicing for Backordered Products
8.7. Memorizing Recurring Invoices
8.8. Estimating Jobs
8.8.1. Creating an Estimate8.8.2. Creating Multiple Estimates
8.9. Creating Progress Invoices
8.9.1. Progress Invoicing Options8.9.2. Fine-tuning a Progress Invoice
8.10. Producing Statements
8.10.1. Creating Statement Charges8.10.2. Generating Customer Statements8.10.2.1. Choosing the date range8.10.2.2. Selecting customers8.10.2.3. Setting printing options8.10.3. Previewing Statements8.10.4. Generating Statements
8.11. Finding Invoices (and other Sales Forms)
8.12. Editing Invoices and Sales Receipts
8.13. Voiding and Deleting Invoices and Sales Receipts
8.14. Handling Refunds and Credits
8.14.1. Creating Credit Memos8.14.2. Creating Refund Checks8.14.3. Applying Credits to Invoices
8.15. Sending Sales Forms
8.15.1. Setting Print Options8.15.2. Aligning Forms and Paper8.15.3. Choosing a Send Method8.15.4. Print One Form8.15.5. Printing in Batches8.15.6. Printing Mailing and Shipping Labels8.15.7. Printing Packing Slips8.15.8. Emailing Sales Forms8.15.9. Emailing One Form8.15.10. Emailing in Batches
9. Managing Accounts Receivable
9.1. The Aging of Receivables9.1.1. Accounts Receivable Aging Reports9.1.2. Customer and Job Reports
9.2. Receiving Payments for Invoiced Income
9.3. Applying Credits to Invoices
9.4. Discounting for Early Payment
9.5. Working with Deposits, Down Payments, and Retainers
9.5.1. Setting Up QuickBooks for Prepayments9.5.2. Recording Prepayments9.5.3. Applying a Deposit, Down Payment, or Retainer to an Invoice9.5.4. Refunding Prepayments
9.6. Applying Finance Charges
9.6.1. Finance Charge Preferences9.6.2. Assessing Finance Charges on Overdue Balances
9.7. Cash Sales
9.7.1. Creating Sales Receipts9.7.2. Creating a Batch Sales Template9.7.3. Reconciling Excess and Short Cash
9.8. Making Deposits
9.8.1. Choosing Payments to Deposit9.8.2. Recording Deposits9.8.3. Depositing Money from Merchant Card Accounts
10. Paying for Expenses
10.1. When to Pay Expenses
10.2. Entering Bills in QuickBooks
10.3. Automating Recurring Bills
10.3.1. Memorizing a Bill10.3.2. Creating Memorized Groups of Bills10.3.3. Using a Memorized Bill
10.4. Purchasing Inventory
10.4.1. Creating Purchase Orders10.4.2. Receiving Inventory and Bills Simultaneously10.4.3. Receiving Inventory Before the Bill
10.5. Handling Reimbursable Expenses
10.5.1. Setting Up Reimbursements as Income10.5.2. Recording Reimbursable Expenses
10.6. Paying Your Bills
10.6.1. Selecting Bills to Pay10.6.2. Modifying Payment Amounts10.6.3. Applying Discounts and Credits10.6.3.1. Applying Discounts Manually10.6.3.2. Applying Credits Manually10.6.4. Setting the Payment Method and Account10.6.5. Saving Paid Bills
10.7. Producing Checks
10.7.1. Writing Checks by Hand10.7.2. Setting Up QuickBooks for Printing Checks10.7.3. Printing Checks
10.8. Writing Checks without Entering Bills
10.8.1. Using the Write Checks Dialog Box10.8.2. Adding Checks to an Account Register
10.9. Paying with Cash
10.10. Paying with Credit Cards
10.11. Recording Vendor Credits
10.12. Paying Sales Tax
10.12.1. Sales Tax Payment Preferences10.12.2. Producing Reports of the Sales Tax You Owe10.12.3. Remitting Sales Taxes
11. Payroll
11.1. Choosing a Payroll Service
11.2. Getting Started
11.3. Setting Up Payroll Items
11.4. Setting Up Employee Records
11.4.1. Setting Employee Defaults11.4.2. Creating Employee Records
11.5. Entering Historical Payroll
11.5.1. Setting the Dates for Your Year-to-Date Entries11.5.2. Entering Payroll Summaries
11.6. Steps to Take Before Running a Payroll
11.6.1. Payroll Checkup11.6.2. Update Tax Data
11.7. Running Payroll
11.7.1. Selecting Employees11.7.2. Fill In Paycheck Data11.7.3. Printing Paychecks and Pay Stubs
11.8. Paying Payroll Taxes
11.9. Preparing Payroll Tax Forms
12. Managing Bank Accounts, Credit Cards, and Petty Cash
12.1. Entering Transactions in an Account Register12.1.1. Opening a Register Window12.1.2. Creating a Transaction in an Account Register
12.2. Handling Bounced Checks
12.2.1. Setting Up QuickBooks to Handle Bounced Checks12.2.1.1. Bounced check item12.2.1.2. Service charges for Bounced checks12.2.2. Recording Bank Charges12.2.3. Bounced Checks
12.3. Transferring Funds
12.4. Reconciling Accounts
12.4.1. Preparing for the First Reconciliation12.4.2. Preparing for Every Reconciliation12.4.3. Starting a Reconciliation12.4.4. Reconciling Transactions12.4.5. Reconciliation Reports12.4.6. Modifying Transactions During Reconciliation12.4.7. Stopping and Restarting a Reconciliation12.4.8. Correcting Discrepancies12.4.8.1. The Discrepancy report12.4.8.2. Other ways to find discrepancies12.4.9. Undoing the Last Reconciliation12.4.10. When Your Bank Makes a Mistake
12.5. Managing Loans
12.5.1. Setting Up a Loan12.5.2. Adding a Loan to Loan Manager12.5.2.1. Basic setup12.5.2.2. Payment information12.5.2.3. Interest rate information12.5.3. Modifying Loan Terms12.5.4. Setting Up Payments12.5.5. What If Scenarios
12.6. Tracking Petty Cash
12.6.1. Recording ATM Withdrawals and Deposits to Petty Cash12.6.2. Recording Purchases Made With Petty Cash
13. Making Journal Entries
13.1. Balancing Debits and Credits
13.2. Some Reasons to Use Journal Entries
13.3. Creating General Journal Entries
13.4. Filling in General Journal Entry Fields
13.5. Checking General Journal Entries
13.6. Reclassifications and Corrections
13.7. Depreciation
14. Working with Financial Statements
14.1. The Profit and Loss Report14.1.1. Understanding the Profit and Loss Report14.1.2. Generating a Profit & Loss Report14.1.3. Other Profit and Loss Reports14.1.4. Understanding the Balance Sheet14.1.5. Generating a Balance Sheet Report
14.2. The Statement of Cash Flow
14.2.1. Understanding the Statement of Cash Flow14.2.2. Generating a Statement of Cash Flow
III. Managing Your Business
15. End-of-Year Tasks
15.1. Viewing the Trial Balance
15.2. Generating Year-End Financial Reports
15.2.1. The Year-End Profit & Loss Report15.2.2. The Year-End Balance Sheet
15.3. Generating Tax Reports
15.3.1. Sharing the Company File with Your Accountant15.3.2. Creating an Accountant's Review Copy15.3.3. Merging Accountant Changes into Your Company File15.3.4. Canceling an Accountant's Review Copy
15.4. 1099s
15.4.1. Generating 1099 Reports15.4.2. Printing 1099-MISC Forms15.4.3. Closing the Books for the Year
16. Managing Inventory
16.1. The QuickBooks Inventory Process16.1.1. Setting Up Inventory Items16.1.2. Ordering and Purchasing Inventory16.1.3. Selling Inventory
16.2. Running Inventory Reports
16.2.1. Inventory Valuation: How Much Is Inventory Worth?16.2.1.1. The Inventory Valuation Summary report16.2.1.2. The Inventory Valuation Detail report16.2.2. Inventory Stock Status16.2.3. Viewing One Inventory Item
16.3. Performing a Physical Inventory
16.4. Adjusting Inventory in QuickBooks
16.4.1. Adjusting Quantities1.3.1. Adjusting Quantities and Values
17. Tracking Time and Mileage
17.1. Setting Up Time Tracking17.1.1. Turning on Time Tracking17.1.2. Setting Up the People Who Track Time17.1.3. Setting Up Items and Customers for Time Tracking
17.2. Entering Time in Timesheets
17.2.1. Filling in Weekly Timesheets17.2.2. Entering Time for One Activity
17.3. Setting Up the Standalone Timer
17.3.1. Exporting Lists for Timer Users17.3.2. Distributing Timer17.3.3. Importing Workers' Time into QuickBooks
17.4. Using Timer to Track Time
17.4.1. Installing the Timer on a Computer17.4.2. Setting Up the Timer Program17.4.3. Setting Up Activities17.4.4. Entering Time17.4.4.1. Stopwatch Timing17.4.4.2. Typing in Time17.4.5. Creating an Export File of Your Time
17.5. Running Time Reports
17.6. Tracking Mileage
17.6.1. Adding a Vehicle17.6.2. Setting the Mileage Rate17.6.3. Recording Mileage Driven
17.7. Generating Mileage Reports
18. Budgeting and Planning
Types of Budgets
18.2. Ways to Build Budgets
18.3. Creating Budgets in QuickBooks
18.4. Filling in Budget Values
18.4.1. Copy Across the Columns18.4.2. Adjust Row Amounts
18.5. Creating Additional Customer: Job or Class Budgets
18.6. Copying Budgets and Creating What-If Budgets
18.7. Running Budget Reports
18.7.1. The Budget Overview Report18.7.1.1. Report layouts18.7.2. Budgetvs. Actual Report18.7.3. Profit & Loss Budget Performance Report18.7.4. Budget vs. Actual Graph
18.8. Planning with QuickBooks Decision Tools
19. Tracking Your Business with Reports
19.1. Finding the Right Reports
19.2. A Quick Guide to QuickBooks Reports
19.2.1. Company & Financial Reports19.2.1.1. Profit and Loss Reports19.2.1.2. Income & Expenses19.2.1.3. Balance Sheet19.2.1.4. Statement of Cash Flow19.2.2. Customers & Receivables Reports19.2.2.1. Accounts Receivable Aging Reports19.2.2.2. Customer Balance Reports19.2.2.3. Customer Lists19.2.3. Sales Reports19.2.4. Jobs, Time & Mileage19.2.4.1. Job reports19.2.4.2. Time reports19.2.4.3. Mileage reports19.2.5. Vendors & Payables19.2.5.1. A/P Aging and Vendor Balance reports19.2.5.2. 1099 forms19.2.5.3. Sales tax reports19.2.6. Purchases19.2.7. Inventory19.2.8. Employees & Payroll19.2.9. Banking19.2.10. Accountant and Taxes19.2.11. Budgets & Forecasts19.2.12. List Reports19.2.13. Custom Reports
19.3. A Review of Report Preferences
19.3.1. Company-Wide Report Preferences19.3.2. Individual Preferences
19.4. Running Reports
19.5. Printing and Saving Reports
19.5.1. Printing Reports19.5.2. Saving Reports to Files
19.6. Customizing Reports
19.7. Date Ranges
19.8. Subtotals
19.9. Customizing the Columns in Reports
19.9.1. Adding and removing columns19.9.2. Resizing and moving columns
19.10. Sorting Reports
19.11. Filtering Reports
19.12. Report Headers and Footers
19.13. Fonts and Numbers
19.14. Memorizing Reports
19.15. Swapping Reports Between Company Files
19.15.1. Exporting a Report
19.16. Importing Report Templates
IV. QuickBooks Power
20. Online Banking Services
20.1. Setting Up Your Internet Connection
20.2. Setting Up Your Accounts for Online Services
20.2.1. Applying for Online Services20.2.2. Activating Online Services for Your QuickBooks Account
20.3. Exchanging Data with Your Financial Institution
20.3.1. Downloading Statements with WebConnect20.3.2. Exchanging Data via a Direct Connection20.3.3. Working With Online Items
20.4. Creating Online Items for Direct Connections
20.4.1. Sending a Message to Your Bank20.4.2. Transferring Funds Between Accounts
20.5. Viewing and Matching Downloaded Transactions
20.5.1. Matching the Transactions QuickBooks Couldn't Match20.5.1.1. Unmatched checks20.5.1.2. Unmatched deposits20.5.1.3. Bank charges
20.6. Paying Bills Online
21. Sharing QuickBooks Data with Other Programs
21.1. Mail Merge to a Word Document21.1.1. Creating Letters and Envelopes in QuickBooks
21.2. Synchronizing Contacts
21.2.1. Setting Up Contacts in Outlook or Act!21.2.2. Synchronizing Data
21.3. Finding Third-Party Integrated Applications
21.3.1. The QuickBooks Solutions Marketplace21.3.2. Other Ways to Find Third-Party Programs
21.4. Setting Up an Integrated Application
21.5. Exporting QuickBooks Data
21.5.1. Exporting Lists and Addresses21.5.1.1. Exporting lists21.5.1.2. Exporting addresses21.5.2. Exporting Reports
21.6. Importing Data from Other Programs
21.7. QuickBooks Add-on Services
21.7.1. Merchant Services21.7.2. Intuit Payroll Services21.7.3. QuickBooks Billing Solutions
22. Customizing QuickBooks
22.1. Customizing the Icon Bar22.1.1. Adding and Removing Icons22.1.2. Changing Icon Appearance22.1.3. Changing the Order of Icons
22.2. Customizing the Shortcut List
22.3. Customizing Forms
22.3.1. Editing an Existing Form22.3.2. Creating a New Template22.3.3. Customizing Form Content22.3.4. Laying Out Forms22.3.5. Selecting Form Objects22.3.6. Moving and Resizing Objects22.3.6.1. Moving objects22.3.6.2. Resizing objects22.3.7. Adding, Removing, and Copying Objects22.3.8. Formatting Forms22.3.9. Other Handy Layout Tools22.3.10. Managing Templates
23. Keeping Your QuickBooks Data Secure
23.1. Setting Up the Administrator23.1.1. Assigning the Administrator User Name and Password23.1.2. Changing the QuickBooks Administrator
23.2. Creating QuickBooks Users
23.2.1. Adding New Users
23.3. Restricting People's Access to Features and Data
23.3.1. What the Access Areas Represent23.3.2. Setting Access Rights
23.4. Audit Trails
V. Appendices
A. Installing QuickBooks
A.1. Before You Install
A.2. Installing QuickBooks
A.3. Registering QuickBooks
A.4. Setting Up QuickBooks on a Network
A.4.1. Storing Company Files
B. Finding Help
B.1. QuickBooks Help
B.2. Help As You Work
B.3. Other Help Resources
C. Keyboard Shortcuts
C.1. Task Shortcuts
C.2. Working with Transactions
C.3. Dates
C.4. Moving Around in QuickBooks Windows
C.5. Miscellaneous QuickBooks Shortcuts
Index
About the Author
Colophon
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Content preview from QuickBooks 2005: The Missing Manual

Swapping Reports Between Company Files

Suppose you're one of several business owners who meet to share ideas. Some of your colleagues rave about the QuickBooks reports they've customized, and you'd like to use the reports they've created. If they're willing to share their ideas, you can swap reports by trading report template files.

Report templates contain the layout, filters, and formatting for memorized reports. Someone can export a memorized report as a report template and someone else can import that file to save the report in a different company file. For example, if your accountant likes to see information in very specific ways, she can give clients a report template file so they can produce the reports she wants to see.

Note

Most of the time, report templates play well between different QuickBooks Editions (Premier, Pro, and Basic) and from version to version (2004, 2005, and so on). But a QuickBooks patch can affect the compatibility between versions. In that case, you might have to install the most recent QuickBooks update if you want to use someone else's report templates.

QuickBooks displays a warning if an update or version incompatibility exists with a report template you try to import.

Exporting a Report

Whether you export one report or an entire group, QuickBooks stores the report settings in a single file with a .qbr file extension (for QuickBooks report). Because report templates are meant to move between QuickBooks company files, you don't have to specify any more ...

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