QuickBooks 2012 The Official Guide | Official Guide

QuickBooks 2012 The Official Guide

Authors: Leslie Capachietti

Published: October 2011

eISBN: 9780071783712 0071783717 | ISBN: 9780071776219

Contents

Acknowledgments

Introduction

Part One: Getting Started

Chapter 1 Using QuickBooks for the First Time

What to Do Ahead of Time

Deciding on the Start Date

Gathering the Information You Need

Other Useful Information to Have Available

Installing and Launching the Software

Creating Your Company File

Navigate in QuickBooks

Customizing the Icon Bar

The Favorites Menu

Closing QuickBooks

Chapter 2 The Chart of Accounts

The Accounts that QuickBooks Uses

Using Numbered Accounts

Naming Accounts

Creating Accounts

Using Subaccounts

Editing Accounts

Deleting Accounts

Making Accounts Inactive (Hiding Accounts)

Merging Accounts

Chapter 3 Entering Your Customers

Building Your Customer List

The Customer Center

Using Jobs

Deleting Customers & Jobs

Using Custom Fields

Securing Customer Credit Card Information

Chapter 4 Entering Your Vendors

Creating Your Vendors List

The Vendor Center

Editing Vendor Information

Deleting a Vendor

Making a Vendor Inactive (Hiding a Vendor)

Merging Vendors

Using Custom Fields in Vendor Records

Creating 1099 Vendors

Chapter 5 Creating Items

Understanding How Items Are Used

Understanding Item Types

Building Your Item List

Creating Custom Fields for Items

Collecting Sales Tax Using Sales Tax Items

Creating and Using Tax Groups

Chapter 6 Setting Up Inventory

What Is an Inventory Item?

Setting Up QuickBooks for Inventory Tracking

Creating Inventory Items

Using Subitems

Counting Inventory

Running Inventory Reports

Chapter 7 Creating Other Lists You Need

Fixed Asset Item List

Price Level List

Currency List

Class List

Other Names List

Customer & Vendor Profile Lists

Chapter 8 Entering Your Starting Balances

What Is an Opening Trial Balance?

Ten Steps to Creating an Accurate Opening Trial Balance

Run Your QuickBooks Trial Balance Report as of Your Start Date

Part Two: Daily Operations Using QuickBooks

Chapter 9 Invoicing Customers

Creating Invoices

Printing Packing Slips

Batch Invoicing

Using Memorized Invoices

Editing Invoices

Voiding and Deleting Invoices

Issuing Credits and Refunds

Using Estimates

Creating Progress Billing Invoices

Invoicing Customers for Reimbursable Expenses

Chapter 10 Receiving and Tracking Customer Payments

Receiving Invoice Payments

Handling Cash Sales

Tracking Your Cash Drawer in QuickBooks

Making Bank Deposits

Tracking Accounts Receivable

Running A/R Aging Reports

Running Customer and Job Reports

Sending Statements

Chapter 11 Managing Vendor Bills

Recording Vendor Bills

Using Purchase Orders

Managing Inventory Item Purchases

Recording Vendor Credits

Entering Recurring Bills

Reimbursable Expenses

Chapter 12 Paying Vendors

Choosing What to Pay

Remitting Sales Tax

Chapter 13 Working with Bank and Credit Card Accounts

Depositing Money That Isn’t from Customers

Transferring Funds Between Accounts

Handling a Bounced Check

Voiding Disbursements

Tracking Cash Disbursements

Managing Credit Card Transactions

Chapter 14 Reconciling Bank Accounts

Reconciling in QuickBooks

If You Don’t Balance

Chapter 15 Using Online Banking Services

Understanding Online Banking

Setting Up Online Banking

Using the Online Banking Center

Matching Transactions

Using QuickBooks to Pay Your Bills Online

Transferring Money Between Accounts Online

Receiving Customer Payments Online

Chapter 16 Tracking Time and Mileage

Setting Up Time Tracking

Working with Timesheets

Reporting Timesheet Information

Invoicing Customers for Time

Tracking Mileage

Chapter 17 Running Payroll

QuickBooks Payroll Services

Setting Up Your Payroll

Setting Up Employees

Entering Historical Data

Using the QuickBooks Payroll Setup Wizard

Payroll Schedules

Running Payroll

The Employee Center

Chapter 18 Payroll Reports and Liability Payments

Confirming Payroll Payment Schedules

Remitting Liabilities

Sending Federal Tax Payments

Remitting State and Local Liabilities

Remitting Other Payroll Liabilities

Preparing Your 941/943 Form

Creating a 941/943 Form

Printing Form 941/943

Preparing W-2 Forms

Tax Form Worksheets in Excel

Chapter 19 Journal Entries

The QuickBooks Journal Entry Window

Creating Journal Entries for Depreciation

Using Journal Entries to Post to Outside Payroll Services

Part Three: Financial Planning and Reporting

Chapter 20 Accountant’s Copy

Understanding the Accountant’s Copy

Creating an Accountant’s Copy

Merging the Accountant’s Changes into Your File

Canceling the Accountant’s Copy

Chapter 21 Creating Reports and Analyzing Your QuickBooks Information

Using the Report Center

Drilling Down for Details

Standard Financial Reports

Other Useful Reports

Company Snapshot

Client Data Review

External Accountant

Chapter 22 Customizing Reports

Customization Starts with a Built-in Report

Customizing Report Display Settings

Filtering Report Data

Customizing Report Headers and Footers

Customizing Report Fonts and Numbers

Memorizing Customized Reports

Sharing Reports You’ve Customized

Chapter 23 Budgets and Planning Tools

How QuickBooks Handles Budgets

P&L Budgets

Budget Reports

Exporting Budgets

Projecting Cash Flow

Chapter 24 Year-End Procedures

The Year-End To Do List

Running Year-End Financial Reports

Issuing 1099 Forms

Making Year-End Journal Entries

Getting Ready for Taxes

Closing Your Books

Creating a Year-End Backup

Part Four: Managing QuickBooks

Chapter 25 Printing, E-mailing, and Managing Documents in QuickBooks

Setting Up Printing

Printing Checks

Printing Transaction Forms

E-mailing Forms and Reports

Document Management: Using the Attach Documents Feature

Chapter 26 Managing Users and Permissions

Why User Logins Are Important

Understanding Passwords

The QuickBooks Admin

Adding Users

QuickBooks Login Dialog

Chapter 27 Managing Your QuickBooks Files

Deleting Company Files

Backing Up and Restoring Files

Using a Portable Company File

Verifying and Rebuilding a Company File

Condensing Your Data

Updating QuickBooks

Chapter 28 Customizing QuickBooks

Customizing Settings and Options

Customizing Transaction Templates

Part Five: Appendixes

Appendix A: Installing QuickBooks on a Network

License Requirements for a Multi-user Installation

Multi-user Installation Options

Appendix B: Multiple Currencies

Setting Up and Configuring Multiple Currencies

Managing Customers and Vendors with Foreign Currencies

Creating Transactions in Other Currencies

Creating Reports on Multiple Currency Transactions

Index