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RCI_financial

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Jon Snyder and Priscilla Miccio
                                  1
Purchase Orders

• The Purchasing Department receives the
  orders from either the HR department or
  Marketing.
• From here, the processing begins in
  QuickBooks.



                                            2
Vendors




          3
Purchase Orders




                  4
Receive Items with Bill




                          5
Receiving Products




                     6
Customers




            7
Customer Invoices




                    8
Summary
• Receive order from HR or Marketing
• Create a purchase order in QuickBooks that places an
  order for RCI to the supplier, CSBS
• Receive the invoice for products from CSBS
• Receive the products with a bill to be paid to CSBS by
  RCI
• Create a customer invoice to be paid by the customer
• Fax invoice to customer




                                                           9
Accounts Payable                    Radiant Care, Inc.



• When product on Purchase Order has been
  received, the vendor must be paid.
• Pay vendors in QuickBooks.
• Pay applicable Sales Tax if due in
  Quickbooks.
• Print the “checks”.



                                                11
Accounts Payable                      Radiant Care, Inc.



• Mark the Purchase Order as “Paid”. Add the
  date and check numbers.
• Make payments to vendors at online bank.
• File the completed documents.




                                                  12
Accounts Payable
• QB vendor navigator slide




                              13
Pay Bills
• QB pay bills slide




                       14
Print Documents
• QB company navigator slide w/reminders
  open




                                           15
Paying Bills at the Bank
• CSBS payment
  window slide




                           16
Pay Sales Tax
• QB pay sales tax slide




                           17
Accounts Receivable
• Fax invoices created by the Purchasing
  Dept. to the Customer.
• Check online bank for payments received.
• Match payments to invoices. Invoice #
  should be in the memo line of the payment.
• Note transaction or reference number.
• Enter payment against the invoice in
  Quickbooks.
                                               18
Accounts Receivable
• Stamp invoice as paid and add the date and
  reference number
• If payment for an invoice is overdue, send
  out reminder letter(s) and follow-up.
• File completed invoices.




                                               19
Receiving Payments
• CSBS account details
  slide




                         20
Receive Payments
• QB customer navigator




                          21
Receive Payments
• QB receive payment slide




                             22
Payroll
• Use MSExcel to calculate Payroll because
  QuickBooks requires a payment in order to
  process.
• Verify hours calculations on time records
  received from HR Dept.
• Enter data into the Excel Payroll Register
  for the appropriate pay period.


                                               23
Payroll
• Create Payroll Journal records from data
  calculated in PR Register.
• Print reports for HR and Finance contained in
  PR Register.
• Print Employee Earnings Statement for the
  period.
• Pay the employees by depositing money
  directly into their accounts in the online bank

                                                    24
Payroll
• Pay payroll taxes and employee
  withholdings to CSBS.
• Pay employees and taxes in QuickBooks.
• At “Year End”, print W2 forms.




                                           25
P/R Register Worksheet
• PR Register worksheet
  slide




                          26
P/R Register Tables
• PR Register table tab
  slide




                          27
P/R Earnings Statement
     – Sample Earnings Statement




                                   28
P/R Employer Taxes
• Employer Tax Report




                        29
P/R Journal
• Sample PR Journal




                      30
W2 Form
• Sample W2 Form




                   31
Bank Reconciliation
• Verifies that the bank account balance and the
  QuickBooks balance are the same.
• If not the same, some transactions were not
  completed correctly.
• A bank/cash reconciliation should be done at
  least every month. The longer the period, the
  more difficult it is to find any errors.
• Errors must be researched and fixed.

                                                   32
Documentation

2 Important items to remember:

• BE ACCURATE
•DOCUMENT
 EVERYTHING!
                                 39
40

				
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