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Computer Accounting with QuickBooks 2011 - PowerPoint

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					COMPUTER ACCOUNTING WITH
 QUICKBOOKS 2011
              CHAPTER 12



 Donna Kay
 Maryville University of Saint Louis
      CHAPTER 12 OVERVIEW
   Budgets
   Estimates
   Progress billing
   Credit Card Sales
   Bad Debts
   Audit Trail
   Accountant Copy



                        COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
              BUDGETS
Create budgets for:
 Profit & Loss
 Balance Sheet




                      COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
               ESTIMATES
   Create estimates to bid on customer jobs.




                      COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
       PROGRESS BILLING
 Bill customer as the job progresses.
 Receive partial payment from customer
  before the project is complete




                    COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
        CREDIT CARD SALES
QuickBooks can also process customers’ credit
card payments. Simply:
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.


                         COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
              BAD DEBTS
 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




                      COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
             BAD DEBTS
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.




                     COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
               AUDIT TRAIL
 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.




                         COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
              AUDIT TRAIL
Create an Audit Trail report:
1. From the Report Center, select Accountant &
   Taxes.
2. Select Audit Trail.




                       COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
    ACCOUNTANT’S COPY
 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.




                     COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
     ASK MY ACCOUNTANT
Use the Ask My Accountant account when
you are not sure how to record an item.




                  COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
 OTHER ADVANCED FEATURES
Save time:
 Memorized transactions
 Memorized reports

Go paperless and export reports to:
  Microsoft Excel
  Microsoft Access
  PDF




                     COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
      TO LEARN MORE …

Turn to Chapter 12

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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