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QuickBooks 2018 All-in-One For Dummies

Name: QuickBooks 2018 All-in-One For Dummies
Author: Stephen L. Nelson
ISBN: 9781119397366

by Stephen L. Nelson

December 2017

Beginner to intermediate

648 pages

15h 46m

English

For Dummies

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Cover
Introduction
About This BookFoolish AssumptionsIcons Used in This BookBeyond the BookWhere to Go from Here
Book 1: An Accounting Primer
Chapter 1: Principles of Accounting
The Purpose of AccountingReviewing the Common Financial StatementsThe Philosophy of AccountingA Few Words about Tax Accounting
Chapter 2: Double-Entry Bookkeeping
The Fiddle-Faddle Method of AccountingHow Double-Entry Bookkeeping WorksAlmost a Real-Life ExampleA Few Words about How QuickBooks Works
Chapter 3: Special Accounting Problems
Working with Accounts ReceivableRecording Accounts Payable TransactionsInventory AccountingAccounting for Fixed AssetsRecognizing LiabilitiesClosing Out Revenue and Expense AccountsOne More Thing …
Book 2: Getting Ready to Use QuickBooks
Chapter 1: Setting Up QuickBooks
Planning Your New QuickBooks SystemInstalling QuickBooksDealing with the Presetup JittersRunning the QuickBooks Setup WizardIdentifying the Starting Trial Balance
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 PreferencesSetting 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 3: Bookkeeping Chores
Chapter 1: Invoicing Customers
Choosing an Invoice FormCustomizing an Invoice FormInvoicing a CustomerBilling for TimePrinting InvoicesEmailing InvoicesRecording Sales ReceiptsRecording Credit MemosReceiving Customer PaymentsAssessing Finance ChargesUsing Odds and Ends on the Customers Menu
Chapter 2: Paying Vendors
Creating a Purchase OrderRecording the Receipt of ItemsSimultaneously Recording the Receipt and the BillEntering a BillPaying BillsReviewing the Other Vendor Menu Commands
Chapter 3: Tracking Inventory and Items
Looking at Your Item ListAdding Items to the Item ListEditing ItemsAdjusting Physical Counts and Inventory ValuesAdjusting Prices and Price LevelsManaging Inventory in a Manufacturing Firm
Chapter 4: Managing Cash and Bank Accounts
Writing ChecksMaking Bank DepositsTransferring Money between Bank AccountsWorking with the RegisterUsing Edit Menu CommandsReconciling the Bank AccountReviewing the Other Banking Commands
Chapter 5: Paying Employees
Setting Up Basic PayrollScheduling Payroll RunsPaying EmployeesEditing and Voiding PaychecksPaying Payroll Liabilities
Book 4: Accounting Chores
Chapter 1: For Accountants Only
Working with QuickBooks Journal EntriesUpdating Company InformationWorking with Memorized TransactionsReviewing the Accountant & Taxes ReportsCreating an Accountant’s Copy of the QuickBooks Data FileUsing the Client Data Review Commands
Chapter 2: Preparing Financial Statements and Reports
Some Wise Words Up FrontProducing a ReportWorking with the Report WindowModifying a ReportProcessing Multiple ReportsA Few Words about Document Retention
Chapter 3: Preparing a Budget
Reviewing Common Budgeting TacticsTaking a Practical Approach to BudgetingUsing the Set Up Budgets WindowManaging with a BudgetSome Wrap-Up Comments on Budgeting
Chapter 4: Using Activity-Based Costing
Reviewing Traditional Overhead AllocationUnderstanding How ABC WorksImplementing a Simple ABC SystemSeeing How QuickBooks Supports ABCTurning On Class TrackingUsing Classes for ABC
Chapter 5: Setting Up Project and Job Costing Systems
Setting Up a QuickBooks JobTracking Job or Project CostsJob Cost ReportingUsing Job EstimatesProgress Billing
Book 5: Financial Management
Chapter 1: Ratio Analysis
Some Caveats about Ratio AnalysisLiquidity RatiosLeverage RatiosActivity RatiosProfitability Ratios
Chapter 2: Economic Value Added Analysis
Introducing the Logic of EVASeeing EVA in ActionReviewing Some Important Points about EVAUsing EVA When Your Business Has DebtPresenting Two Final PointersAnd Now, a Word to My Critics
Chapter 3: Capital Budgeting in a Nutshell
Introducing the Theory of Capital BudgetingCalculating the Rate of Return on CapitalMeasuring LiquidityThinking about RiskWhat Does All of This Have to Do with QuickBooks?
Book 6: 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 AnalysisRecognizing the Downside of the Profit-Volume-Cost ModelUsing the Profit-Volume-Cost Analysis Workbook
Chapter 2: Creating a Business Plan Forecast
Reviewing Financial Statements and RatiosUsing the Business Plan WorkbookUnderstanding the Workbook CalculationsCustomizing the Starter Workbook
Chapter 3: Writing a Business Plan
What the Term “Business Plan” MeansA Few Words about Strategic PlansLook, Ma: No StrategyA White-Paper Business PlanA New-Venture Plan
Book 7: Care and Maintenance
Chapter 1: Administering QuickBooks
Keeping Your Data ConfidentialUsing QuickBooks in a Multiuser EnvironmentUsing Audit TrailsEnabling Simultaneous Multiuser AccessMaintaining Good Accounting Controls
Chapter 2: Protecting Your Data
Backing Up the QuickBooks Data FileRestoring a QuickBooks Data FileCondensing the QuickBooks Company Files
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 CommunitiesWhen All Else Fails …
Book 8: 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 ContentsFormatting Cell ContentsRecognizing That Functions Are Simply FormulasSaving and Opening WorkbooksPrinting Excel WorkbooksOne Other Thing to Know
Appendix B: Government Web Resources for Businesses
Bureau of Economic AnalysisBureau of Labor StatisticsCensus BureauSecurities and Exchange CommissionFederal ReserveGovernment Printing OfficeInternal Revenue Service
Appendix C: Glossary of Accounting and Financial Terms
About the Author
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Content preview from QuickBooks 2018 All-in-One For Dummies

Chapter 2

Loading the Master File Lists

IN THIS CHAPTER

Setting up the Chart of Accounts list

Setting up the Item list

Setting up the Payroll Item and Employee lists

Setting up classes

Setting up Customer and Vendor lists

Setting up the Profile lists

When you set up QuickBooks 2018, as a practical matter, you not only create a company file you’ll use to store financial information about your business, but also set up master file lists. These master file lists store information that you can use and reuse. One of the master file lists describes each of your customers; this master file of customer information includes the customer’s name and address, contact information, account numbers, and so on.

In this chapter, I walk you through the process of adding information to each of the master files — or lists, as QuickBooks calls them — that you need to fill (or mostly fill) before you begin ...

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QuickBooks 2018 All-in-One For Dummies

by Stephen L. Nelson

Loading the Master File Lists

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.