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QuickBooks 2016: The Missing Manual

by Bonnie Biafore

October 2015

Intermediate to advanced

822 pages

27h 36m

English

O'Reilly Media, Inc.

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About the AuthorAbout the Creative TeamAcknowledgementsThe Missing Manual Series
What’s New in QuickBooks 2016When QuickBooks May Not Be the AnswerChoosing the Right EditionThe QuickBooks Premier ChoicesAccounting Basics: The Important StuffAbout This BookAbout the OutlineThe Very BasicsAbout→These→ArrowsAbout the Online ResourcesMissing CDRegistrationFeedbackErrataSafari® Books Online
Opening QuickBooksChoosing a Start DateCreating a Company FileOptions for Creating a Company FileUsing QuickBooks SetupUsing the EasyStep InterviewCreating Your Company FileCustomizing Your Company FileAdding Details to Your Company FileConverting from Another Program to QuickBooksConverting from Quicken Home & BusinessCleaning Up Your Quicken FileConverting Your Quicken FileFine-Tuning Your Converted Quicken DataConverting from QuickBooks for MacConverting from a Non-Intuit ProgramOpening an Existing Company FileOpening a Recently Opened Company FileOpening Any Company FileOpening a Portable Company FileModifying Company Info
Menus and the Icon BarThe Home PageThe Insights TabWorking with WindowsSwitching among Open WindowsSupermax ViewTransaction Window RibbonsResizing Drop-Down Lists and Columns
Acquiring a Chart of AccountsImporting a Chart of AccountsPlanning the Chart of AccountsDo You Need Another Account?Naming and Numbering AccountsOrganizing Account NumbersViewing Account NumbersChoosing Good Account NamesCreating Accounts and SubaccountsCreating an AccountWorking with AccountsModifying AccountsHiding AccountsDeleting AccountsMerging Accounts
Working with the Customer CenterCreating Customers in QuickBooksCreating a New CustomerEntering Contact InformationEntering Payment InformationSpecifying Sales Tax InformationSpecifying Additional Customer InformationAdding More Customer ContactsCreating Jobs in QuickBooksCreating a New JobWorking with the Vendor CenterCreating Vendors in QuickBooksCreating a VendorAddress InfoPayment SettingsTax SettingsAccount SettingsAdditional InfoWorking with Customers, Jobs, and VendorsModifying Customer, Job, and Vendor InformationCategorizing Customers, Jobs, and VendorsUnderstanding Customer, Job, and Vendor TypesCreating a Vendor, Customer, or Job TypeHiding RecordsDeleting RecordsMerging RecordsManaging Leads
What Items DoWhen You Don’t Need ItemsShould You Track Inventory with Items?Planning Your ItemsGeneric or Specific?Naming ItemsSubitemsCreating ItemsService ItemsService Items Without Associated CostsService Items with Associated CostsProduct ItemsNon-Inventory Part FieldsOther Types of ItemsOther ChargeSubtotalGroupDiscountPaymentWorking with ItemsModifying ItemsHiding ItemsDeleting Items

Adding and Editing Multiple RecordsCustomizing the Table’s ColumnsDisplaying the Records You WantAdding or Editing List EntriesEntering Data Directly in the TableCopying and Pasting Values from ExcelSaving ChangesCorrecting ErrorsImporting Customer, Vendor, and Item InformationImporting with the Excel Import Wizard TemplatesImporting Data from Your Own Excel File
Categorizing with ClassesTurning on Class TrackingSetting Up ClassesPrice LevelsCreating a Price LevelApplying Price LevelsCustomer and Vendor Profile ListsSales Rep ListCustomer Type ListVendor Type ListJob Type ListTerms ListSetting Up Terms Using Elapsed TimeSetting Up Date-Driven TermsCustomer Message ListPayment Method ListShip Via ListVehicle ListFixed Asset ItemsManaging ListsCreating EntriesEditing EntriesHiding EntriesDeleting EntriesFinding List Entries in TransactionsSorting ListsPrinting ListsBlasting Out a Quick ListCustomizing a Printed List
Setting Up Time TrackingTurning on Time TrackingSetting Up the People Who Track TimeSetting Up Items and Customers for Time TrackingEntering Time in QuickBooksFilling Out Weekly TimesheetsEntering Time for One ActivityRunning Time ReportsTracking MileageAdding a VehicleSetting the Mileage RateRecording Mileage DrivenGenerating Mileage Reports
When to Pay ExpensesViewing Payables with Bill TrackerEntering BillsEntering Bills for Services and Non-Inventory ItemsRecording a Deposit to a VendorHandling Reimbursable ExpensesSetting Up Reimbursements as IncomeRecording Reimbursable ExpensesPaying Your BillsSelecting Bills to PayModifying Payment AmountsApplying Discounts and Credits to PaymentsApplying Discounts ManuallyApplying Credits ManuallySetting the Payment Method and AccountPaying Selected BillsWriting Checks Without Entering BillsUsing the Write Checks WindowAdding Checks to an Account RegisterProducing ChecksWriting Checks by HandSetting Up QuickBooks to Print ChecksPrinting ChecksPaying Using Other Payment MethodsPaying with Credit CardsPaying with a Debit CardPaying with PayPalPaying with CashRecording ATM Withdrawals and Deposits to Petty CashRecording Purchases Made with Petty CashRecording Vendor Refunds and CreditsRecording Vendor RefundsRecording Vendor CreditsRunning Expense-Related ReportsA/P Aging and Vendor Balance ReportsReports about PurchasesThe Insights Tab
Choosing the Right Type of FormSales ReceiptsStatementsInvoicesSales Forms and AccountsCreating InvoicesCreating an InvoiceFilling in Invoice Header FieldsChoosing the Customer or JobChoosing an Invoice TemplateThe Other Header FieldsEntering Invoice Line ItemsModifying Line ItemsApplying Subtotals, Discounts, and Percentage ChargesAdding a Message to the CustomerAdding a Link to Pay OnlineAdding a Memo to YourselfChoosing How to Send the InvoiceCreating Batch InvoicesBefore You Create Your First Batch InvoiceSetting Up a Batch InvoiceDeposits, Down Payments, and RetainersSetting Up QuickBooks for PrepaymentsRecording PrepaymentsApplying a Deposit, Down Payment, or RetainerRefunding PrepaymentsInvoicing for Billable Time and CostsSetting Up Invoicing for Time and CostsAdding Billable Time and Costs to InvoicesUsing Invoice for Time & ExpensesSelecting Billable Time and CostsCreating a Batch of Time and Expenses InvoicesChecking for Unbilled CostsInvoicing for Backordered ProductsUsing Pending Invoices for BackordersUsing Sales Orders for BackordersSelling Products on ConsignmentConsigning Products to Someone Else to SellWhen You Deliver Products to ConsigneesWhen Consignees Sell Your StuffSelling Consignment Goods Received from Someone ElseAdding Consignment Items to Your InventoryRecording Consignment SalesPaying ConsignorsEstimating JobsCreating an EstimateCreating Multiple EstimatesCreating an Invoice from an EstimateComparing Estimates to ActualsCreating Progress InvoicesProgress Invoicing OptionsFine-Tuning a Progress InvoiceHandling Customer Refunds and CreditsCreating a Credit Memo from an InvoiceCreating Credit MemosCreating Refund ChecksApplying Credits to Existing InvoicesApplying Credits to New InvoicesModifying InvoicesEditing InvoicesVoiding and Deleting Invoices
Generating StatementsCreating Statement ChargesGenerating Customer StatementsChoosing the Date RangeSelecting CustomersSetting Additional OptionsPreviewing StatementsGenerating StatementsEmailing StatementsPrinting Statements
Printing FormsSetting Print OptionsAligning Forms and PaperChoosing a Print MethodPrinting One FormPrinting in BatchesPrinting Mailing and Shipping LabelsPrinting Packing SlipsEmailing FormsChoosing a Send MethodEmailing One FormEmailing in BatchesMemorizing TransactionsCreating a Memorized TransactionUsing a Memorized TransactionRecording a Transaction When You’re RemindedRecording an Occasional TransactionRecording a Transaction AutomaticallyEditing a Memorized TransactionCreating Memorized Groups of TransactionsFinding TransactionsSearching with QuickBooks’ CentersFinding ItemsUsing QuickBooks SearchUsing the Find FeatureFinding Made SimpleAdvanced Find MethodsUsing Search Results
Receivables AgingViewing Receivables with Income TrackerGetting a High-Level View with the Company SnapshotViewing Receivables Detail in the Customer CenterAccounts Receivable Aging ReportsSeeing What Customers Owe with ReportsReceiving Payments for Invoiced IncomeApplying Credits to Invoices When You Receive PaymentsDiscounting for Early PaymentCorrecting Misapplied Customer PaymentsWrong Invoice, Right Customer or JobWrong Invoice, Wrong CustomerApplying Finance ChargesFinance Charge PreferencesAssessing Finance Charges on Overdue BalancesCash SalesCreating Sales ReceiptsEditing Sales ReceiptsVoiding and Deleting Sales ReceiptsMemorizing a Batch Sales TransactionReconciling Excess and Short CashMaking DepositsChoosing Payments to DepositRecording DepositsDepositing Money from Merchant Card Accounts
Entering Transactions in an Account RegisterOpening a Register WindowCreating a Transaction in an Account RegisterHandling Bounced ChecksManaging Bounced Checks You WroteUsing the Record Bounced Check FeatureHandling Customers’ Bounced Checks on Your OwnItem for Removing the Bounced-Check Amount from Your Bank AccountItems for Bounced-Check Service ChargesRecording Bank ChargesRe-invoicing for Bounced ChecksTransferring FundsReconciling AccountsPreparing for the First ReconciliationPreparing for Every ReconciliationStarting a ReconciliationReconciling TransactionsModifying Transactions During ReconciliationStopping and Restarting a ReconciliationReconciliation ReportsCorrecting DiscrepanciesUsing the Discrepancy Report to Find Problem TransactionsRe-reconciling Corrected TransactionsOther Ways to Find DiscrepanciesUndoing the Last ReconciliationWhen Your Bank Makes a MistakeManaging LoansSetting Up a LoanAdding a Loan to Loan ManagerBasic SetupPayment InformationInterest Rate InformationModifying Loan TermsSetting Up Payments
Getting Started with PayrollWhat You Need from the GovernmentEmployee-Related Forms You NeedPayroll Decisions You Need to MakeIntuit Payroll ServicesRecording Transactions from a Payroll ServicePaying YourselfTaking a DrawReclassifying Shareholders’ Distribution to SalaryReclassifying Payroll Withholdings
Balancing Debit and Credit AmountsSome Reasons to Use Journal EntriesCreating Journal EntriesChecking Journal EntriesReclassifications and CorrectionsReclassifying AccountsReassigning JobsRecording Depreciation with Journal EntriesRecording Owner’s ContributionsRecording Initial Noncash ContributionsRecording Home-Office Expenses
Checking for ProblemsGetting Rid of Uncleared Transactions from Closed PeriodsViewing Your Trial BalanceGenerating Financial ReportsThe Profit & Loss ReportGenerating a Profit & Loss ReportOther Profit & Loss ReportsThe Balance SheetGenerating a Balance Sheet ReportThe Statement of Cash FlowsGenerating a Statement of Cash FlowsOther Helpful Financial ReportsGenerating Tax ReportsSharing a Company File with Your AccountantCreating an Accountant’s Review CopyMerging Accountant Changes into Your Company FileCanceling an Accountant’s Review CopySetting Up an External Accountant User1099sGenerating 1099 ReportsPrinting 1099-MISC FormsClosing the Books for the Year
Tracking To-DosCreating a To-DoEditing a To-DoViewing To-DosAdding NotesRemindersYour Financial Calendar
Switching Between Multi- and Single-User ModeBacking Up FilesChoosing Standard Backup SettingsBacking Up ManuallyAutomated BackupsSetting Up Automatic BackupsScheduling Backups for a Single Company FileRestoring BackupsSending Company Files to OthersCreating a Portable Company FileOpening a Portable Company FileVerifying Your QuickBooks DataRunning the Verify Data UtilityReviewing ProblemsRunning the Rebuild Data UtilityCondensing DataRunning the Condense Data UtilityCleaning Up After Deleting Files
Following the Inventory Money TrailSetting Up Inventory ItemsTurning on InventoryCreating Inventory ItemsPurchasing InventoryCreating Purchase OrdersReceiving Inventory and Bills SimultaneouslyReceiving Inventory Before the BillSelling InventoryRunning Inventory ReportsPurchases ReportsHow Much Is Inventory Worth?Inventory Valuation Summary ReportInventory Valuation Detail ReportInventory Stock StatusViewing One Inventory ItemWorking with the Inventory CenterPerforming a Physical InventoryAdjusting Inventory in QuickBooksAdjusting QuantitiesAdjusting Quantities and Values
Setting Up Sales TaxTurning on QuickBooks Sales TaxOther Sales Tax PreferencesSetting Up Sales Tax FeaturesSales Tax CodesAssigning Tax Codes to CustomersAssigning Tax Codes to ItemsCreating Additional Sales Tax CodesSales Tax ItemsProducing Reports of the Sales Tax You OwePaying Sales Tax
Types of BudgetsWays to Build BudgetsCreating Budgets in QuickBooksCreating Customer:Job or Class BudgetsFilling in Budget ValuesCopying Across ColumnsAdjust Row AmountsCreating and Copying Budgets with ExcelSetting Up a Budget in ExcelImporting a Budget into QuickBooksRunning Budget ReportsThe Budget Overview ReportReport LayoutsThe Budget vs. Actual ReportThe Profit & Loss Budget Performance ReportThe Budget vs. Actual Graph
Finding the Right ReportsReviewing Reports in the Report CenterWorking with Reports in the Report CenterFinding Frequently Used ReportsRunning ReportsAdding Comments to ReportsPrinting and Saving ReportsSaving Reports as FilesCustomizing ReportsChoosing Date RangesSelecting SubtotalsCustomizing ColumnsAdding and Removing Columns in Summary ReportsAdding or Removing Columns in Detail ReportsResizing and Moving ColumnsSorting ReportsFiltering ReportsReport Headers and FootersFonts and NumbersMemorizing ReportsSwapping Reports Between Company FilesExporting a Report TemplateImporting Report Templates
Setting Up Your Accounts for Online ServicesApplying for Online ServicesActivating Online Services for Your QuickBooks AccountExchanging Data with Your BankQuickBooks’ Online Banking ModesDownloading Statements with Web ConnectCreating Online Items for Direct ConnectionsPaying Bills OnlineSending a Message to Your BankTransferring Funds Between AccountsBanking Online Using Express ModeSending and Receiving TransactionsMatching TransactionsMatching Unmatched TransactionsMatching DepositsMatching Checks and ExpensesAdding Multiple TransactionsDeleting Downloaded TransactionsBanking Online Using Classic ModeSending and Receiving ItemsWorking with Online ItemsMatching TransactionsAdding Multiple TransactionsDeleting Downloaded Transactions
Preferences: The BasicsAccountingBillsCalendarCheckingChoosing the Bank Accounts You UseSettings for Company ChecksChoosing Company-Wide Payroll AccountsSelecting a Bank Feeds ModeDesktop ViewWindow PreferencesPreferences for Saving the DesktopCustomizing the Home PageFinance ChargeGeneralTuning QuickBooks to Your LikingCompany-Wide General PreferencesIntegrated ApplicationsItems & InventoryJobs & EstimatesMultiple CurrenciesPaymentsPayroll & EmployeesRemindersReports and GraphsPreferences for the Reports You GenerateCompany-Wide Report PreferencesSales & CustomersSales TaxSearchSend FormsSetting Your Send PreferencesCustomizing MessagesService ConnectionSpellingTax: 1099Time & Expenses
Mail Merge to a Word DocumentCreating Letters and Envelopes in QuickBooksSynchronizing ContactsUsing QuickBooks Contact Sync for OutlookWorking with Other AppsFinding Add-On AppsSetting Up an Integrated AppExporting QuickBooks DataExporting Lists and AddressesExporting Lists to a Text FileExporting AddressesExporting ReportsCustomized Exports Using Contact List ReportsImporting Data from Other ProgramsImporting a Delimited File
Customizing the Home PageTurning Customer and Vendor Icons On and OffTurning Related Preferences On and OffAccount BalancesFast Access to Favorite FeaturesBuilding Your Favorites MenuCustomizing the Icon BarAdding and Removing IconsAdding Windows or Reports to the Icon BarChanging an Icon’s AppearanceChanging the Order of IconsCustomizing the Company SnapshotCustomizing FormsStarting with an Existing Template in QuickBooksBasic CustomizationAdding a LogoApplying a Color SchemeChanging FontsIncluding Basic Company and Transaction InfoAdditional CustomizationManaging TemplatesCopying a TemplateDeleting or Hiding a TemplateExchanging Templates Between Company Files
Setting Up the AdministratorAssigning the Administrator User Name and PasswordResetting the Administrator PasswordComplying with Credit Card Security RegulationsCreating QuickBooks UsersAdding New UsersResetting a User PasswordRestricting Access to Features and DataWhat the Access Areas RepresentSetting Access Rights
Before You InstallInstalling QuickBooksInstalling QuickBooks for the First TimeInstalling or Upgrading to a New Version of QuickBooksActivating QuickBooksSetting Up QuickBooks on a NetworkWhere to Store Your Company FilesStoring Company Files on a Network
QuickBooks HelpIntuit CommunityAccessing the Community Within QuickBooksOther Kinds of HelpOther Help ResourcesQuickBooks Training

Content preview from QuickBooks 2016: The Missing Manual

Appendix A. Installing QuickBooks

QuickBooks’ installation process offers two basic options: Install the program from scratch or upgrade from a previous version. When you upgrade, you can run both the old and new versions on your computer at the same time, which is essential if you’re an accountant or bookkeeper who works with company files from clients who run different versions of the program. Even if you use QuickBooks to run your own business, you might want to keep your old version around in case you decide that you don’t like the new version. Be sure to back up your company file before you open it with the new version; once you open it in the new version of QuickBooks, it won’t run in the earlier version (see the box on Installing Multiple Versions of QuickBooks).

This appendix walks you through both paths of the installation process. You’ll also find out how to install QuickBooks 2016 on a company network, including where on a network you can store your company file—and which location to choose for best performance. (If several people need to access your company file at the same time, everyone has to run the same version of QuickBooks, so set aside time to install the program on all those machines.)

Before You Install

Intuit recommends a 2.4 GHz processor and 8 GB of RAM for a single user of QuickBooks Pro. If you run QuickBooks in multi-user mode, your server should have at least 8 GB of RAM for the first 5 users. You also need about 2.5 GB of free disk space and a 4x CD/DVD ...