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QuickBooks 2016: The Best Guide for Small Business, 2nd Edition

Name: QuickBooks 2016: The Best Guide for Small Business, 2nd Edition
ISBN: 9781259585456

by Bobbi Sandberg, Leslie Capachietti

December 2015

Intermediate to advanced

464 pages

12h 22m

English

McGraw-Hill

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Cover
Title Page
Copyright Page
Dedication
Contents at a Glance
Contents
Acknowledgments
Introduction
Part One Getting Started Using the Desktop Version of QuickBooks
Chapter 1 Preparing Your QuickBooks Company
What to Do Ahead of TimeChoose Your VersionGather InformationDecide on the Start DateGather Additional InformationInstall and Launch the SoftwareCreate Your Company FileUsing Express StartUsing Detailed StartThe QuickBooks Setup WizardNavigate in QuickBooksHome PageQuickBooks CentersCustomize the Icon BarThe Favorites MenuClosing QuickBooksSetting Up Users and PermissionsWorking with User Names and PasswordsWorking with QuickBooks UsersSetting User PermissionsCreate Your Company’s Chart of AccountsUse Account NumbersCreate AccountsUse Subaccounts

Chapter 2 Entering Customers and Vendors
Build Your Customer ListCustomer InformationPayment SettingsSales Tax SettingsAdditional InfoJob Info TabAdding Multiple Customer RecordsThe Customer CenterCustomizing the Customers & Jobs ListWorking in the Customer Information PaneUse JobsUse Custom FieldsAdding a Custom FieldSecure Customer Credit Card InformationQuickBooks Customer Credit Card ProtectionUser Permissions for Viewing Credit Card InformationCreate Your Vendors ListVendor InformationPayment SettingsTax SettingsAccount SettingsAdditional InfoAdding and Editing Multiple Vendor RecordsThe Vendor CenterCustomizing the Vendors ListWorking in the Vendor Information PaneEdit Vendor InformationUse Custom Fields in Vendor RecordsAdding a Custom Field for VendorsCreate 1099 Vendors
Chapter 3 Creating Items, Other Lists, and Your Beginning Balances
Understand How Items Are UsedUnderstand Item TypesBuild Your Item ListCreate a Service ItemChanging Item PricesUsing Sales Tax ItemsCreate and Use Tax GroupsSales Tax PaymentsAssigning Sales Tax Codes and Items to CustomersUse the Other QuickBooks ListsFixed Asset Item ListU/M Set ListPrice Level ListCurrency ListWork with ClassesCreate a ClassCreating a SubclassOther Names ListCustomer & Vendor Profile ListsTemplates ListMemorized Transaction ListYour Beginning BalancesWhat Is an Opening Trial Balance?Steps to an Accurate Opening Trial Balance
Part Two Daily Operations Using QuickBooks
Chapter 4 Invoicing and Other Sales Transactions
Create InvoicesTabs Found in the Create Invoices WindowThe Main TabUsing SubtotalsThe Footer SectionEdit an InvoiceMark an Invoice as PendingVoid and Delete InvoicesPrint Packing SlipsChanging the Default Packing SlipBatch and Memorize InvoicesUse Memorized (Recurring) InvoicesIssue Credits and RefundsCreating a Credit Memo Against an InvoiceCreating a Credit Memo Without a Previous InvoiceApplying Credit MemosUsing EstimatesCreate Progress Billing InvoicesChoosing the Estimated JobEntering Progress Invoice Line ItemsInvoice Customers for Reimbursable ExpensesConfiguring Reimbursement SettingsQuickBooks Printer SetupChoose Form Printing SettingsPrinter Settings vs. Printer OptionsWays to Print Transaction FormsPrinting Transaction Forms in Batches
Chapter 5 Managing Accounts Receivable
Your Options for Receiving Customer PaymentsMain Tab in Receive Payments WindowCalculating the Payment and Applying to InvoicesDepositing Payments into Your Bank AccountHandling UnderpaymentsApplying Credits to InvoicesApplying Discounts for PaymentsUsing E-InvoicingHandling Cash SalesTracking Your Cash Drawer in QuickBooksRecording Bank DepositsThe Payments to Deposit WindowWorking in the Make Deposits WindowKeeping Track of Accounts ReceivableGetting the Most from the Customer CenterRunning Accounts Receivable ReportsA/R Aging ReportsCustomizing Aging ReportsFinance ChargesSending StatementsCreating Statements
Chapter 6 Recording and Paying Your Bills
Record Vendor BillsFilling in the DetailsSplitting Expenses Among Multiple AccountsUsing the Bill TrackerExplore the Bill TrackerUse Purchase OrdersCreate a Purchase OrderPurchase Inventory ItemsUse Recurring BillsReimbursable ExpensesOptions for Managing Reimbursable ExpensesPay Your BillsViewing Your Unpaid BillsCheck Writing Without Entering a BillUsing QuickBooks to Print ChecksTrack and Pay Sales TaxManaging Sales TaxRunning Sales Tax ReportsPay the Sales TaxAdjusting Sales Tax Amounts
Chapter 7 Working with Bank and Credit Card Accounts
Deposit Money That Isn’t from CustomersUsing the Account Register for DepositsUsing the Make Deposits WindowTransfer Funds Between AccountsHandle a Returned CheckRecording a Returned Cash Receipt PaymentVoid a CheckTrack Cash DisbursementsKeeping a Petty Cash BoxTracking Other Cash WithdrawalsManage Credit Card TransactionsCreate a Credit Card AccountTreat the Credit Card as a BillReconcile in QuickBooksThe Begin Reconciliation WindowEntering Interest Income and Service ChargesWorking in the Reconcile WindowClearing TransactionsAdding Transactions During ReconciliationVoiding or Deleting Transactions During ReconciliationEditing Transactions During ReconciliationResolving Missing Check NumbersFinishing the ReconciliationPrinting the Reconciliation ReportViewing the Last Reconciliation ReportIf You Don’t BalanceFinding and Correcting ProblemsMaking an Adjusting EntryTroubleshooting Differences in the Beginning BalanceUndoing the Last Reconciliation
Chapter 8 Using Bank Feeds
Set Up Bank FeedsEnabling Bank Feeds Using Direct ConnectEnabling Bank Feeds Using Web Connect (Manual Import)Work with Bank Feeds Center TransactionsViewing the Downloaded TransactionsAdding Transactions to the Account Register in QuickBooksUse QuickBooks to Pay Your Bills OnlineUsing the QuickBooks Bill Pay ServiceTransfer Money Between Accounts Online
Part Three Payroll
Chapter 9 Establishing QuickBooks Payroll
Set Up Time TrackingAdding Time TrackersAdding TasksWorking with TimesheetsSetting the Format for Displaying TimeTracking a Single ActivityUsing Weekly TimesheetsReporting Timesheet InformationRunning Timesheet ReportsEditing Entries in a ReportPrinting Weekly TimesheetsInvoicing Customers for TimeTracking MileageEntering Mileage RatesCreating a Mileage ItemEntering MileageCreating Mileage ReportsPayroll SetupQuickBooks Desktop Payroll ServicesEnabling a QuickBooks Payroll ServiceProcessing Your Payroll Manually in QuickBooksSetting Up Your PayrollAdding Payroll ItemsSetting Up EmployeesCreating an Employee TemplateCreating Employees
Chapter 10 Paying Employees and Payroll Taxes and Creating Forms
Handle Year-to-Date Payroll DataEntering Year-to-Date TotalsManually Entering Payroll History in BatchesChoosing the Correct Dates When Entering Year-to-Date PayrollUse the QuickBooks Payroll Setup WizardCompany Setup SectionSetting Up Employees in the WizardPayroll SchedulesCreating a Payroll ScheduleSpecial Payroll RunsRun PayrollChanging Paycheck DataReviewing the Payroll RunThe Employee CenterEmployees TabTransactions TabPayroll TabCustomizing the Employee CenterTracking and Remitting Payroll LiabilitiesConfirm Payroll Payment SchedulesReport and Remit Payroll Tax LiabilitiesNontax Payroll LiabilitiesWorkers CompPrepare W-2 FormsTax Form Worksheets in ExcelUse QuickBooks E-file
Part Four Using QuickBooks Reports, Planning Tools, and Budgets
Chapter 11 Useful QuickBooks Reports and Analysis Tools
Start with the Report CenterStandard Financial ReportsProfit & Loss ReportBalance SheetTrial BalanceCash Flow ReportsOther Useful ReportsReporting by ClassAccountant & Taxes ReportsCompany Snapshot and the Insights TabExternal AccountantAccountant Toolbox and the Accountant CenterCustomizing ReportsThe Display TabThe Filters TabCustomize Report Headers and FootersCustomize Report Fonts and NumbersComment on ReportsMemorize Customized ReportsUsing a Memorized ReportUsing Memorized Report GroupsSharing Reports You’ve CustomizedExporting Your Report Data to Excel
Chapter 12 Using the QuickBooks Budget and Planning Tools
How QuickBooks Handles BudgetsTypes of BudgetsBudget Data Is Saved AutomaticallyUnderstanding the Budget WindowTasks to Perform Before You Start Your BudgetProfit & Loss BudgetsEnter Budget AmountsCreating a Budget from Last Year’s DataCustomer: Job BudgetsClass BudgetsBalance Sheet BudgetsBudget ReportsBudget OverviewBudget vs. ActualProfit & Loss Budget PerformanceBudget vs. Actual GraphWork with Budget Data Outside of QuickBooksExporting a Budget Report to ExcelExporting Budgets to Delimited Text FilesImporting Budgets Back into QuickBooksProject Cash Flow
Part Five Work with Inventory and Personalize QuickBooks
Chapter 13 Manage Inventory in QuickBooks
What Is an Inventory Item?Set Up QuickBooks for Inventory TrackingAccounts Required for Inventory Are Automatically CreatedCreate Inventory ItemsUse SubitemsCreating the Parent Item for a SubitemCreating SubitemsCount InventoryPrinting the Physical Inventory WorksheetMaking Inventory AdjustmentsUnderstanding the Effects of an AdjustmentRun Inventory ReportsFiltering Using Custom Fields in the Item Report
Chapter 14 Customizing QuickBooks for Your Company
Customize Settings and OptionsAccounting PreferencesBills PreferencesCalendar PreferencesChecking PreferencesDesktop View PreferencesFinance Charge PreferencesGeneral PreferencesIntegrated Applications PreferencesItems & Inventory PreferencesJobs & Estimates PreferencesMultiple Currencies PreferencesPayments PreferencesPayroll & Employees PreferencesReminders PreferencesReports & Graphs PreferencesSales & Customers PreferencesSales Tax PreferencesSearch PreferencesSend Forms PreferencesService Connection PreferencesSpelling PreferencesTax:1099 PreferencesTime & Expenses PreferencesCustomize Transaction TemplatesBasic Customization of TemplatesAdditional Customization of TemplatesDocument ManagementThe Doc CenterUsing the Attach File FeatureE-mail Forms and ReportsSetting Up E-mailSending E-mail
Part Six Additional Tasks in QuickBooks
Chapter 15 Keeping Your QuickBooks Data Secure and Healthy
Delete Company FilesHow QuickBooks Loads Company FilesDeleting the FileEliminating Deleted Files from the Company File ListBack Up and Restore FilesBacking UpScheduling BackupsRestoring a BackupThe Portable Company FileCreating a Portable Company FileVerify and Rebuild a Company FileCondense Your DataUnderstanding the Condense Data ProcessChoosing a DateRun the Condense Data UtilityRemoving All TransactionsUpdate QuickBooksConfiguring the QuickBooks Update Service
Chapter 16 Understanding General Journal Entries and Other Special Tasks
The QuickBooks Journal Entries WindowCreate Journal Entries for DepreciationUse Journal Entries to Post to Outside Payroll ServicesReconciling the Payroll Account When Using Outside Payroll ServicesSet Up and Configure Multiple CurrenciesCreating a Special BackupEnabling Multiple CurrenciesManage Customers and Vendors with Foreign CurrenciesViewing Currency Data in Customer and Vendor CentersCreate Transactions in Other CurrenciesCreate Reports on Multiple Currency TransactionsInstalling QuickBooks on a NetworkLicense Requirements for a Multi-user InstallationMulti-user Installation OptionsInstalling QuickBooks on a Peer-to-Peer NetworkInstalling QuickBooks on a Client-Server Network
Chapter 17 Posting at Year’s End and Sending the Year-End Accountant’s Copy
The Year-End To Do ListReconciling All Bank, Cash, and Credit Card AccountsInventory Stock StatusFixed AssetsPayrollRun Year-End Financial ReportsProfit & Loss ReportsYear-End Balance SheetIssue 1099 FormsChecking the 1099 SetupUsing the 1099 WizardPrinting 1099sMake Year-End Journal EntriesGetting Ready for TaxesChecking Tax-Line InformationCalculating Other Important Tax InformationUsing TurboTaxClose Your BooksClosing the Year by Setting a Closing DateCreate a Year-End BackupUnderstanding the Accountant’s CopyCreating an Accountant’s CopySaving the Accountant’s CopySending an Accountant’s Copy to an Online ServerChoosing the Dividing DateMerge the Accountant’s Changes into Your FileCancel the Accountant’s Copy
Chapter 18 Fixing Common Problems
Version ComparisonsData Entry IssuesList EntriesQuickBooks Maximum File SizesGeneral Data Entry TipsBack Up, Back Up, Back UpGeneral Backup TipsPrinter IssuesThe New Printer Won’t PrintCheck Printing Isn’t WorkingBanking IssuesBank Reconciliation Issues and TipsGeneral Banking TipsPayroll IssuesPaying Payroll Tax LiabilitiesGeneral Payroll TipsAccount Receivable IssuesPrepayments and Customer DepositsMaking Deposits to the BankUndeposited Funds Balance Increases or Accounts Receivable Aging Shows Old, Paid InvoicesCustomer Balance Is Zero but Shows Open InvoicesGeneral Accounts Receivable TipsAccounts Payable IssuesOld Paid Bills Show in Bills To PayUsing the Loan Manager to Fix Balance Sheet IssuesGeneral Accounts Payable TipsSales Tax IssuesSales Tax on Discounted ItemsWhen the Pay Sales Tax Window and the Sales Tax Liability Report Totals Don’t MatchCreate Reports to Find ProblemsMultiYear Profit & Loss ComparisonBalance Sheet ReportsCustomer and Receivables ReportsAccounts Payable ReportsUsing the Audit TrailTrack Inventory IssuesNegative InventoryItem MistakesQuickBooks Advisors
Index

Content preview from QuickBooks 2016: The Best Guide for Small Business, 2nd Edition

Index

Please note that index links point to page beginnings from the print edition. Locations are approximate in e-readers, and you may need to page down one or more times after clicking a link to get to the indexed material.

• Numbers

1099 forms

Confirm Your 1099 Entries for, 382–383

exclusions in, 382

filing methods for, 383

preferences and, 315

printing, 384

setup of, 378–379

vendors and, 53, 60–61, 380–381

wizard for, 380–383

in year-end accounting, 378–384

940 payments, 239–240

941/943 payments

creation of, 236–237

data that cannot be changed in, 237

editing prefilled data in, 237

error checks in, 238

introduction to, 236

printing/submitting, 238

saving/reopening forms in, 238

• A

A/R (Accounts Receivable) aging reports

customer/job reports ...

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Publisher Resources

ISBN: 9781259585456

Cloud Computing

Data Engineering

Data Science

AI & ML

Programming Languages

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IT/Ops

Security

Design

Business

Soft Skills

QuickBooks 2016: The Best Guide for Small Business, 2nd Edition

by Bobbi Sandberg, Leslie Capachietti

Index

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,
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