1. Computer Accounting with QuickBooks 2012 Chapter 3
Donna Kay

2. Chapter 3 Overview Check Register Record Deposits Write Checks
Reconcile Bank Statements
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

3. Home Page Banking
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

4. QuickBooks Check Register Shows…
Checking Balance
Deposits
Payments (Checks)
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

5. Record Deposits
Customer Payments are entered using Receive Payments (Customer section of Home page)
Undeposited funds are customer payments received but not deposited yet
Nonsales receipts can be entered using Record Deposits window
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

6. WRITE CHECKS… Can be used to pay:
Expenses, such as rent, utilities, and insurance
Non-inventory items, such as office supplies
Services, such as accounting or legal services
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

7. Pay Bills One–Step Approach Write Checks
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

8. WRITE CHECKS… Should NOT be used to pay:
Paychecks to employees for wages and salaries
Payroll taxes and liabilities
Sales taxes
Bills already entered using Enter Bills window (Vendor section of the Home page)
COMPUTER ACCOUNTING WITH QUICKBOOKS 2021

9. Reconcile Bank Statements To…
Detect errors
Update accounting records for unrecorded items
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

10. Reconcile… Bank statement balance Company’s accounting records to
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

11. Differences
Differences between the bank statement and accounting records are due to:
Errors
Timing differences
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

12. Errors Bank errors Company errors
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

13. TIMING DIFFERENCES Bank has recorded an item, but the company has not
Unrecorded bank charges
Unrecorded interest earned
The company has recorded an item, but the bank has not
Deposits in transit
Outstanding checks
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

14. Bank Reconciliation Using QuickBooks
Record interest earned from bank statement
Record bank service charges from bank statement
Compare Bank statement with the Reconcile Window
Mark deposits that have cleared
Mark checks that have cleared
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012

15. To Learn More …
Turn to Chapter 3 Visit the Online Learning Center Visit
COMPUTER ACCOUNTING WITH QUICKBOOKS 2012