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Computer Accounting with QuickBooks 2011

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					COMPUTER ACCOUNTING WITH
 QUICKBOOKS 2011
                CHAPTER 7



 Donna Kay
 Maryville University of Saint Louis
       CHAPTER 7 OVERVIEW
   Accounting Cycle
   Financial Statement Reports
   Tax Reports
   Management Reports
   Export Reports to Excel




                      COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
       ACCOUNTING CYCLE
Throughout the year:
Chart of Accounts: add, update, and delete
 accounts
Transactions: record using onscreen forms




                    COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
    ACCOUNTING CYCLE
At year-end, prepare:
Trial Balance
Adjustments
Adjusted Trial Balance
Financial Statements and Report




                    COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
          TRIAL BALANCE
Lists each account and the account balance
at the end of the period




                    COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
            ADJUSTMENTS
5 types of adjustment to bring the accounts
up-to-date at year-end:
1. Depreciation
2. Prepaid Items
3. Unearned Revenue
4. Accrued Expenses
5. Accrued Revenues



                     COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
ADJUSTED TRIAL BALANCE
        Adjusted trial balance =
A trial balance after adjusting entries




                   COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
         GENERAL LEDGER
General Ledger lists for each account:
 Beginning balance
 Transactions affecting each account
 Ending balance




                     COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
             REPORTS
Financial Statements
 Income Statement (P&L)
 Balance Sheet
 Statement of
  Cash Flows




                   COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
              REPORTS
Tax Reports
 Income Tax Preparation Report
 Income Tax Summary Report
 Income Tax
  Detail Report




                   COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
             REPORTS
Management Reports
 Cash Flow Forecast




                   COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
 EXPORT REPORTS TO EXCEL
Export reports to Excel using
the Export button




                     COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
      TO LEARN MORE …

Turn to Chapter 7

Visit the Online Learning Center
www.mhhe.com/kay2011

Visit the Student Blog
www.myquickbooks.me



                     COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

				
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posted:1/30/2012
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