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Ch12

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Transcript

  • 1. Create budgets for:  Profit & Loss  Balance Sheet
  • 2. Create estimates to bid on customer jobs.
  • 3.  Bill customer as the job progresses  Receive partial payment from customer before the project is complete
  • 4. To process customers’ credit card payments: 1. For Payment Method select credit card type. 2. Enter Card No. 3. Enter Expiration Date. QuickBooks offers Merchant Account Services to process credit card transactions.
  • 5.  When a customer fails to pay their account, it is a bad debt or uncollectible account.  Two methods to account for bad debts are:  Direct write-off method  Allowance method
  • 6. Three methods to record a write-off of an uncollectible account are: 1. Make a journal entry. 2. Use the Receive Payments window. 3. Use the Credit Memo window.
  • 7.  Audit Trail feature tracks all changes (additions, modifications, and deletions) made to your QuickBooks records.  Audit Trail improves internal control by tracking changes by User ID.
  • 8. Create an Audit Trail report: 1. From the Report Center, select Accountant & Taxes. 2. Select Audit Trail.
  • 9.  Create a copy of your QuickBooks company file for your accountant to review and update (.QBX file).  Your accountant can make changes while you continue to use QuickBooks.
  • 10. Use the Ask My Accountant account when you are not sure how to record an item.
  • 11. Save time. Reduce errors. Set up:  Memorized transactions  Memorized reports
  • 12. Now you can attach documents to QuickBooks forms. Example: attach a vendor’s bill when you enter the bill in QuickBooks.
  • 13. Use apps on your mobile device to stay connected to QuickBooks. QuickBooks Mobile
  • 14. Use apps on your mobile device to stay connected to QuickBooks. QuickBooks Go Payment