COMPUTER ACCOUNTING WITH

QUICKBOOKS 2013CHAPTER 12

Donna Kay

Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved

12-2

CHAPTER 12 OVERVIEW

Budgets Estimates Progress billing Credit Card Sales Bad Debts Audit Trail Accountant Copy

12-3

BUDGETS

Create budgets for: Profit & Loss Balance Sheet

12-4

ESTIMATES

Create estimates to bid on customer jobs.

12-5

PROGRESS BILLING

Bill customer as the job progresses Receive partial payment from customer

before the project is complete

12-6

CREDIT CARD SALES

To process customers’ credit card payments:1. For Payment Method select credit card type.2. Enter Card No.3. Enter Expiration Date.

QuickBooks offersMerchant Account Services to process credit card transactions.

12-7

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

12-8

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.

12-9

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.

12-10

AUDIT TRAILCreate an Audit Trail report:1. From the Report Center, select Accountant &

Taxes.2. Select Audit Trail.

12-11

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.

12-12

ASK MY ACCOUNTANT

Use the Ask My Accountant account when you are not sure how to record an item.

12-13

SAVE TIME

Save time. Reduce errors. Set up: Memorized transactions Memorized reports

12-14

DOCUMENT MANAGEMENT

Now you can attach documents to QuickBooks forms.Example: attach a vendor’s bill when you enter the bill in QuickBooks.

12-15

QUICKBOOKS MOBILE APPS

Use apps on your mobile device to stay connected to QuickBooks.

QuickBooks Mobile

12-16

QUICKBOOKS MOBILE APPSUse apps on your mobile device to stay connected to QuickBooks.

QuickBooks Go Payment

TO LEARN MORE …

See Chapter 12

Visit the Online Learning Centerwww.mhhe.com/kay2013

Visit www.myquickbooks.me

12-17