Computer Accounting with QuickBooks 2015 Chapter 9 Donna Kay

Chapter 9 Overview Record Owner’s Investment Record Purchase Transactions Record Sales Transactions Make Adjusting Entries Print Reports Close the Accounting Period COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Record Owner’s Investment Use the Make Deposits window to record owner’s investment. COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Record Purchase Transactions Purchase transactions can be: Cash Purchases Credit Purchases COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Cash Purchases Select Write Checks Select Bank Account Select Date Select Pay To The Order Of Enter Amount Select Account Select Print Later Select Print COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Credit Purchases For a service company, record credit purchases: Enter the bill when received using the Enter Bills window. Pay bill when due using the Pay Bills window. Print the check. COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Credit Purchases Select Enter Bills Select Bill Select Date Select Vendor Enter Amount Due Select Terms Select Expense or Items tab Select Account Select Customer: Job Select if Billable Select Save & New COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Memorized Transactions Memorize recurring transactions: Enter the bill Memorize the transaction (Edit menu > Memorize Bill) Use memorized transaction (Lists menu > Memorized Transaction List) COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Memorized Transactions Select Enter Bills Enter Bill information Select Memorize Select Add to my Reminds List Select How Often Enter Next Date Select OK Select Save & Close COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Sales Transactions Enter sales transactions with customers: Prepare an invoice to record customer charges using Invoice window Record customer payment using Receive Payments window Record deposit in bank using Make Deposits window COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Print Trial Balance Print a Trial Balance to verify the accounting system is in balance before making adjustments. COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Adjusting Entries Use the onscreen Journal to enter adjusting entries Adjusting entries bring accounts up to date at the end of the accounting period. COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Print Adjusted Trial Balance Print an Adjusted Trial Balance to verify the accounting system is still in balance after making adjusting entries. COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Print Reports Financial reports for the year include: General Ledger Profit & Loss Balance Sheet Statement of Cash Flows COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Close the Accounting Period QuickBooks automatically closes the accounting period by closing all temporary accounts. COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

To Learn More … See Chapter 9 Visit the Online Learning Center www.mhhe.com/kay2015 Visit www.My-QuickBooks.com COMPUTER ACCOUNTING WITH QUICKBOOKS 2015