Overview

QuickBooks 2008 Solutions Guide for Business Owners and Accountants contains a wealth of information useful to both the business owner and the accountant who services such businesses. To make finding the right information easier,  the book is organized into chapters specific to each accounting module in QuickBooks.   The author has worked many years with businesses that use QuickBooks to manage their financials and knows that every company has its own unique needs, yet all share one common goal—to more accurately track how the business is performing financially.   The goal of this book is to provide easy-to-read and easy-to-follow QuickBooks “consulting” advice that business owners, bookkeepers, or accountants can use. After reading the chapters in this book, business owners and accountants will be able to efficiently troubleshoot a QuickBooks data file and make needed corrections, so they can accurately report how the business is performing financially.   This book helps you o        Get started with a QuickBooks data file and learn how to modify the file you already have o        Analyze your data and troubleshoot reports o        Review and correct any data errors in your balance sheet accounts such as Banking, A/R, Undeposited Funds, Employee Advances, Inventory, A/P, Sales Tax, and Open Bal Equity Account o        Use the tools in QuickBooks to properly review your payroll data and avoid costly mistakes o        Efficiently share your business data with your accountant o        Make the most of the QuickBooks reporting tools   Laura Madeira graduated from Florida Atlantic University with a major in accounting and is a certified trainer for Intuit’s Certified Trainer Network. As a member of this select group, she provides training to accountants and consultants each fall when the new version of QuickBooks is released.   She also is a guest instructor for Intuit at many trade shows throughout the year, and she writes published QuickBooks technical documentation and presentations for Intuit. Laura owns a software and accounting firm that has for more than 20 years helped a large variety of businesses manage their financials using Intuit’s QuickBooks software (Intuit’s Quicken in those early years). In fact, she has been training users on QuickBooks since the very first version was released many years ago.   Category     Business | Finance Covers         QuickBooks 2008 User Level    Intermediate—Advanced   Front cover quote:   “Laura Madeira has created an extremly valuable QuickBooks resource that belongs on every business and accountant’s bookshelf” —Rich Walker, CPA, Intuit Accountant Relations  

Full Product Details

Author:   Laura Madeira
Publisher:   Pearson Education (US)
Imprint:   Que Corporation,U.S.
Dimensions:   Width: 17.70cm , Height: 2.90cm , Length: 23.10cm
Weight:   0.814kg
ISBN:  

9780789737113

ISBN 10:   0789737116
Pages:   528
Publication Date:   27 December 2007
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Out of Print
Availability:   In Print  
Limited stock is available. It will be ordered for you and shipped pending supplier's limited stock.

Table of Contents

Introduction Chapter 1 Creating a New QuickBooks Data File EasyStep Interview—Overview     Select a Start Date     Enter Bank Account Information     Review Income and Expense Accounts Converting from Other Accounting Software to QuickBooks     Converting from Quicken to QuickBooks     Converting from Peachtree, Small Business Accounting, or Office Accounting to QuickBooks     Converting from QuickBooks for Windows to QuickBooks Online Edition     Converting from QuickBooks Pro for MAC to QuickBooks for Windows Setting Up a QuickBooks Data File for Accrual or Cash Basis Reporting     Cash or Accrual Basis Startup Transactions: Accounts Receivable     Cash or Accrual Basis Startup Transactions: Accounts Payable     Cash or Accrual Basis Startup Transactions: Bank Account Statement Balance     Cash or Accrual Basis Startup Transactions: Checking Uncleared Bank Checks Creating a QuickBooks Data File Checklist Chapter 2 Reviewing the QuickBooks Chart of Accounts Understanding the Chart of Accounts     Assets     Liabilities     Equity     Income     Cost of Goods Sold     Expense Importing a Chart of Accounts     Importing from an Excel File Format     Importing from an Intuit Interchange Format (IIF) File Preferences That Affect the Chart of Accounts Accounts That QuickBooks Creates Automatically Methods to Troubleshoot and Correct Chart of Account Issues     Removing Duplicated Accounts by Marking an Account Inactive     Merging Duplicated Accounts     Wrong Account Type Assigned to a Chart of Accounts Listing     Assigning or Removing a Subaccount Relationship Chart of Accounts Chapter Checklist Chapter 3 Reviewing and Correcting Item List Errors Understanding the Differences Between the Chart of Accounts, Items, Classes, and Customer Types     Chart of Accounts     Items     Classes     Customer Types Using Item Types in QuickBooks Finding Item Errors in QuickBooks     Reviewing Accounts Assigned to Items     Item Listing Report     Profit & Loss Summary Report Fixing Item Errors in QuickBooks     Correcting One-Sided Items     Making an Item Inactive     Merging Items Creating Items as Subitems Item List Review Checklist Chapter 4 Easily Review Your QuickBooks Data Choosing a Reporting Basis Reviewing the Balance Sheet     Account Types     Prior Year Balances     Bank Account Balance(s)     Accounts Receivable     Undeposited Funds     Inventory     Other Current Assets     Fixed Assets     Accounts Payable     Credit Cards     Payroll Liabilities     Sales Tax Payable     Other Current Liabilities and Long-Term Liabilities     Equity Additional Data Reviews     Payroll Summary Total and Payroll Expense Total     Sales by Item Summary Compared to Total Income     Net Income or (Loss) Agrees with Balance Sheet     Reconcile Discrepancies Account     Cash Basis Balance Sheet Has Accounts Receivable or Payable Chapter 5 Power Reports for Troubleshooting Beginning Balance Differences How Can These Power Reports Help Me? The Working Trial Balance Window Tracking Changes to Closed Accounting Periods     Setting a Closing Date and Password     Setting User-Specific Security     Creating the Closing Date Exception Report Using the Audit Trail Report Using the Credit Card Audit Trail Using the Voided/Deleted Transactions Summary or Detail Report Creating the Retained Earnings QuickReport Using the Ctrl+Y Keyboard Shortcut Running the Transaction List by Date Report Documenting Changes Made to a Data File Chapter 6 Bank Account Balance or Reconciliation Errors The Importance of Correct Bank Balances in Your QuickBooks Data Reconciling a Bank Account for the First Time     Verify That the Bank Account Has Not Been Reconciled     Verify That All Banking-Related Transactions Have Been Entered     Identify All Uncleared Transactions     Complete the Multiple Year or Month Bank Reconciliation Troubleshooting an Incorrectly Reconciled Bank Account     Review Uncleared Bank Transactions     Reviewing Previous Bank Reconciliation Reports     Locating Bank Account Reconciliation Discrepancies     Reviewing the Voided/Deleted Report     Restarting a Previously Completed Bank Reconciliation     Undoing a Previous Bank Reconciliation Reconciling with an Adjustment Bank Reconciliation Troubleshooting Checklist Chapter 7 Reviewing and Correcting Accounts Receivable Errors Accounts Receivable Forms and Workflow Preferences That Affect Accounts Receivable     Sales & Customers Preferences     Checking Preference     Finance Charge Preference     Jobs & Estimates     Reminders     Reports & Graphs     Send Forms     Spelling     Sales Tax Preference     Time and Expenses Reports to Review When Troubleshooting Accounts Receivable Errors     Reconcile Balance Sheet Accounts Receivable Amount to A/R Aging Summary Total     Review Open Invoices Report     Generate a Missing Customer Invoices Report     When an Accounts Receivable Balance Appears on a Cash Basis Balance Sheet Correcting Accounts Receivable Errors     Removing an Open Balance from a Customer Invoice     Correcting Customer Payments Applied to the Incorrect Invoice, Customer, or Job     When a Credit Memo Is Applied to the Wrong Customer Invoice     When Deposits Were Made Without Using the Receive Payment Form     Grouping Deposited Items     Eliminating the Print Queue for Customer Invoices Marked to Print Unique Customer Transactions     Recording Your Accountant’s Year-End Adjusting Journal Entry to Accounts Receivable     When a Customer Is Also a Vendor     Recording Customer’s Bounced Check Accounts Receivable Checklist Chapter 8 Troubleshooting and Correcting Errors with the Undeposited Funds Account The Purpose of the Undeposited Funds Account Preference Settings that Affect Undeposited Funds Reviewing the Balance in the Undeposited Funds Account     Creating an Undeposited Funds Detail Report     Creating a General Ledger Report of the Undeposited Funds Account     Reviewing the Open Invoices Report     Viewing Deposits in the Bank Register     Viewing the Deposit Detail Report Fixing Errors with the Undeposited Funds Account     Removing Old Dated Payments in the Undeposited Funds Account     Reconciling Your Bank Register with the Bank Statement’s Deposits Undeposited Funds Account Checklist Chapter 9 Handling Current Asset Accounts Correctly Defining an Other Current Asset Reviewing and Troubleshooting the Other Current Asset Accounts     Matching Other Current Asset Balances to an Outside Document     Creating a Custom Transaction Detail Report     Reconciling Other Current Asset Accounts Troubleshooting and Creating Unique Other Current Asset Account Transactions     Correcting Balance Errors in Your Other Current Asset Accounts     Deducting Employee Loan Payments from the Employee’s Payroll Checks     Recording Prepaid Expenses in QuickBooks     Tracking Customer Retainage in QuickBooks Other Current Asset Accounts Checklist Chapter 10 Reviewing and Correcting Inventory Errors Overview of the Accounting for Inventory Preferences That Affect Inventory Inventory Processes and Forms and Their Effect on Accounting Reviewing and Troubleshooting Inventory Balances     Perform a Physical Inventory Count     Reconciling the Inventory Valuation Summary Report with the Balance Sheet Inventory Balance     Reviewing the Recorded Average Cost Valuation     Reviewing Aged Open Item Receipts     Reviewing Aged Accounts Payable Correcting Inventory Errors     Creating an Inventory Quantity Adjustment     Creating an Inventory Value Adjustment How QuickBooks Handles Negative Inventory     When Inventory Has an Average Cost from Prior Purchase Transactions     When Inventory Does Not Have a Prior Average Cost Inventory Summary Chapter 11 Reviewing and Correcting Accounts Payable Errors Accounts Payable Forms and Workflow     Accounts Payable Forms     Accounts Payable Workflow Preferences That Affect Accounts Payable     Accounting     Bills     Checking     General     Reminders     Reports and Graphs     Tax:1099 Reports to Review When Troubleshooting Accounts Payable Errors     Reconcile Balance Sheet Report Accounts Payable Balance to A/P Aging Summary Report Total     Review the Unpaid Bills Detail Report     Reviewing Aged Open Item Receipts     Reviewing Item Setup     When an Accounts Payable Balance Appears on a Cash Basis Balance Sheet     Reviewing and Printing Year-end Vendor Tax Forms Correcting Accounts Payable Errors     When a Vendor Was Paid with a Check     Misapplied Vendor Credit     Removing Aged Open Item Receipts or Vendor Bills     General Journal Adjustments to Accounts Payable Unique Accounts Payable Transactions     When Your Vendor Is Also Your Customer     Recording Vendor Prepayments     Entering Mid-year 1099 Balances     Taking Discounts on Vendor Bills     Memorizing Recurring Transactions     Depositing a Vendor Refund     Paying and Recording a Credit Card Bill Accounts Payable Checklist Chapter 12 Reviewing and Correcting Sales Tax Errors Preferences That Affect Sales Tax Sales Tax Items, Groups, and Codes     Creating and Using Sales Tax Items     Creating and Using Sales Tax Group Items     Creating and Using Sales Tax Codes Assigning Sales Tax Codes to Products or Services Assigning Sales Tax Codes and Items to Customers Reports to Review When Troubleshooting Sales Tax Errors     Reviewing Customer Lists for Tax Code and Tax Item Assigned     Reviewing Item List for Tax Code Assigned     Reconciling Total Sales to Total Income     Reconciling Sales Tax Liability to Balance Sheet Sales Tax Payable     When a Check or Bill Form Was Used to Pay Sales Tax Properly Paying Sales Tax     Paying Sales Tax Without an Adjustment     Paying Sales Tax with an Adjustment Correcting Sales Tax Errors     When a Check or Bill Form Was Used to Pay the Sales Tax     When the Sales Tax Liability Report Shows Past Sales Tax Due     When Total Sales Does Not Equal Total Income Unique Sales Tax Transactions     Tracking and Collecting Multiple Sales Tax Rates     When Your State Imposes a Maximum Sales Tax     Multiple Sales Tax Rates on One Invoice     Issuing Credit Memos When Sales Tax Should Not Have Been Charged Sales Tax Checklist Chapter 13 Reviewing and Correcting the Opening Balance Equity Account Purpose of the Opening Bal Equity Account Transactions in the Opening Bal Equity Account     Bank Statement Ending Balance Entered in the EasyStep Interview     Opening Balance in the Add New Account Dialog     Entering a Total Value for a New Inventory Item     Bank Reconciliation Adjustments (QuickBooks 2005 or Older)     Accrual Basis Startup Records Reports to Review and Troubleshoot the Opening Bal Equity Account Closing Opening Bal Equity into Retained Earnings Setting a Closing Date and Password Opening Bal Equity Checklist Chapter 14 Reviewing and Correcting Payroll Errors Payroll Service Options Payroll & Employees Preference Payroll Forms and Workflow in QuickBooks     Payroll Forms     Payroll Workflow Using the Payroll Setup Using the Run Payroll Checkup Diagnostic Tool Reports to Review When Troubleshooting Payroll     Payroll Item Listing     Comparing Payroll Liabilities Balances to the Balance Sheet     Compare Payroll Summary to Filed Payroll Returns Adjusting Payroll Liabilities Unique Payroll Transactions and Processes     Scheduled Payroll and Liabilities     Deposit a Refund of Payroll Liabilities     Reprint a Lost Payroll Check     Setting Up Payroll Mid-Year     Paying a Taxable Bonus     Employee Loan Payment and Repayment     Adjusting an Employee Paycheck Payroll Checklist Chapter 15 Sharing Data with Your Accountant or Your Client Sharing QuickBooks Data     Benefits for the Business Owner     Benefits for the Accountant QuickBooks File Types     Choosing a Method to Share Data Data Sharing for the Business Owner     Reviewing Your QuickBooks Data     Using the Accountant’s Copy Feature     What the Business Owner Can and Cannot Do     Importing Your Accountant’s Changes     Canceling an Accountant’s Copy Data Sharing for the Accountant     Preparing Your Client for the Data Exchange     Working with an Accountant’s Copy File     What the Accountant Can Do     What the Accountant Cannot Do     Returning the Accountant’s Copy Change File to the Client     What to Request from the Client When the Import Is Complete     Converting the Accountant’s Copy to a Regular Company File Sharing Data Checklist Chapter 16 Reporting Tips and Tricks Using the Report Center Reporting Preferences     My Preferences     Company Preferences Modifying Reports     Modifying Options Available on the Report Window     Modify Report Button Report Groups     Creating Report Groups     Using Report Groups     Managing Report Groups Memorized Reports Exporting and Importing Report Templates     Exporting a Report or Report Group Template     Importing a Report or Report Group Template Exporting Reports to a .CSV File or to Excel Emailing Reports About Financial Statement Designer   0789737116   TOC   10/31/2007

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Author Information

"Laura Madeira is an accountant and Advanced QuickBooks Certified Trainer for the Intuit Accountant Training Network and Member of Intuit's Speaker's Bureau Network. Laura has been teaching companies how to use Intuit's products beginning with Quicken in 1985 and then advancing to QuickBooks since its very first version. Laura has instructed more than 10,000 individuals. She presents QuickBooks training to audiences that are comprised of accountants, consultants, and end users, representing Intuit as a select presenter for its yearly national multi-city Accountant Update Tour and QuickBooks Advanced Certification Training seminars. Additionally, Laura was a guest presenter at the 2006 ASBDC Annual Conference in Houston, Texas. Laura continues to be a guest speaker for Intuit at national CPA trade shows. Laura has been an advocate for the QuickBooks product line for more than 15 years and has been featured in several marketing articles on Intuit, QuickBooks, and in particular the QuickBooks Certified ProAdvisor program. In addition to the numerous speaking engagements, Laura also served on the first two Intuit Customer Advisory Councils from 2002--2005. This gave Laura an opportunity to meet Intuit executives and help influence changes in Intuit's relationship with accountants. Laura also is a skilled technical writer and has provided Intuit with technical training and public presentation materials over the years. Her ""QuickBooks at Year-End"" document has been distributed by Intuit at several national events and is one of Intuit's most requested training and presentation documents. Laura is the owner of a software consulting firm located in the greater Dallas, Texas, area. Laura resides with her husband and two teenage sons outside Dallas, Texas. She graduated from Florida Atlantic University, May 2003, with her bachelor of science, majoring in Accounting. Her hobbies include photography, art (watercolor), scrapbook making, and training two Cocker Spaniel dogs."

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