1. COPYRIGHT © 2009 Cengage Learning 2008 Glenn Owen Chapter Two Preparing a Balance Sheet Using QuickBooks Using QuickBooks Pro for Accounting 2008 Glenn Owen

2. Using QuickBooks Pro 2008 for Accounting2 Chapter Two The Balance Sheet Reports the assets, liabilities, and owners’ equity of a company at a specific point in time Owners’ Equity = Equity Year-to-Date Net Income included in Equity Total Assets = Total Liabilities & Equity

3. Using QuickBooks Pro 2008 for Accounting3 Chapter Two Preset Balance Sheets Standard Comparative Summary Itemized 1. Click Reports 2. Click Company & Financial 3. Select the Preset Balance Sheet

4. Using QuickBooks Pro 2008 for Accounting4 Chapter Two Types of Accounts Receivable Transactions by Account Report Invoice: represents the billing of a customer Payment: receipt of payment on account from that customer

5. Using QuickBooks Pro 2008 for Accounting5 Chapter Two QuickZoom Provides details about a particular account balance Cursor changes to a magnifying glass with a “Z” Double click on amount to view the transactions

6. Chapter Two Modifying Balance Sheet Reports Using QuickBooks Pro 2008 for Accounting6 Change report dates Change From/To dates Select accrual or cash basis report Change columns from totals only to week, month, quarter, etc. Add other columns such as previous period, previous year, etc.

7. Using QuickBooks Pro 2008 for Accounting7 Chapter Two Memorizing & Saving a Balance Sheet 1. Open the Report Center 2. Click the Memorized Text at the top of the Report Center. 3. Click the Memorized Report button. Then click New Group 4. Key the name of the new group and then click OK 5. Go to the Balance Sheet appearing on the screen 6. Click the Memorize… Button at the top of the report 7. Check the Saved in Memorized Report Group checkbox and select the group name from the drop-down list 8. Click OK

8. Using QuickBooks Pro 2008 for Accounting8 Chapter Two Printing the Balance Sheet Follow the same steps to print all reports 1. Click Print 2. Click Zoom In 3. Click Preview 4. Click Print