Download QuickBooks 2009 for Dummies (ISBN - 0470391812) PDF

TitleQuickBooks 2009 for Dummies (ISBN - 0470391812)
TagsFor Dummies
File Size10.8 MB
Total Pages410
Table of Contents
                            QuickBooks 2009 For Dummies
	Contents at a Glance
	Table of Contents
		About QuickBooks
		About This Book
		What You Can Safely Ignore
		What You Should Not Ignore (Unless You’re a Masochist)
		Three Foolish Assumptions
		How This Book Is Organized
		Conventions Used in This Book
	Part I: Quickly into QuickBooks
		Chapter 1: QuickBooks: The Heart of Your Business
			Why QuickBooks?
			What Explains QuickBooks’ Popularity?
			What’s Next, Dude?
			How to Succeed with QuickBooks
		Chapter 2: Answering Mr. Wizard
			Getting Ready for the Big Interview
			Doing the EasyStep Interview
			Telling the Rest of the Story
			Determining Whether to Get Your Accountant’s Help
		Chapter 3: Populating QuickBooks Lists
			The Magic and Mystery of Items
			Adding Employees to Your Employee List
			Customers Are Your Business
			It’s Just a Job
			Adding Vendors to Your Vendor List
			The Other Lists
			Organizing and Printing Lists
			Exporting List Items to Your Word Processor
			Dealing with the Chart of Accounts List
	Part II: Daily Entry Tasks
		Chapter 4: Creating Invoices and Credit Memos
			Making Sure That You’re Ready to Invoice Customers
			Preparing an Invoice
			Fixing Invoice Mistakes
			Preparing a Credit Memo
			Fixing Credit Memo Mistakes
			Printing Invoices and Credit Memos
			Sending Invoices and Credit Memos by E-Mail
			Customizing Your Invoices and Credit Memos
		Chapter 5: Reeling In the Dough
			Recording a Sales Receipt
			Printing a Sales Receipt
			Special Tips for Retailers
			Correcting Sales Receipt Mistakes
			Recording Customer Payments
			Correcting Mistakes in Customer Payment Entries
			Making Bank Deposits
			Improving Your Cash Inflow
		Chapter 6: Paying the Bills
			Pay Now or Pay Later?
			Recording Your Bills by Writing Checks
			Recording Your Bills the Accounts Payable Way
			Paying Your Bills
			Tracking Vehicle Mileage
			Paying Sales Tax
			A Quick Word on the Vendor Center Window
		Chapter 7: Inventory Magic
			Setting Up Inventory Items
			When You Buy Stuff
			When You Sell Stuff
			How Purchase Orders Work
			Assembling a Product
			Time for a Reality Check
			Dealing with Multiple Inventory Locations
			The Lazy Person’s Approach to Inventory
		Chapter 8: Keeping Your Checkbook
			Writing Checks
			Depositing Money into a Checking Account
			Transferring Money between Accounts
			To Delete or to Void?
			Handling NSF Checks from Customers
			The Big-Register Phenomenon
		Chapter 9: Paying with Plastic
			Tracking Business Credit Cards
			Reconciling Your Credit Card Statement and Paying the Bill
			So, What about Customer Credit Cards?
	Part III: Stuff You Do from Time to Time
		Chapter 10: Printing Checks
			Getting the Printer Ready
			Printing a Check
			Printing a Checking Register
		Chapter 11: Payroll
			Getting Ready to Do Payroll without Help from QuickBooks
			Doing Taxes the Right Way
			Getting Ready to Do Payroll with QuickBooks
			Paying Your Employees
			Paying Payroll Liabilities
			Preparing Quarterly Payroll Tax Returns
			Filing Annual Returns and Wage Statements
			The State Wants Some Money, Too
		Chapter 12: Building the Perfect Budget
			Is This a Game You Want to Play?
			All Joking Aside: Some Basic Budgeting Tips
			A Budgeting Secret You Won’t Learn in College
			Setting Up a Secret Plan
			Adjusting a Secret Plan
			Forecasting Profits and Losses
			Projecting Cash Flows
			Using the Business Planner Tools
		Chapter 13: Online with QuickBooks
			Doing the Electronic Banking Thing
			A Quick Review of the Other Online Opportunities
	Part IV: Housekeeping Chores
		Chapter 14: The Balancing Act
			Balancing a Bank Account
			Eleven Things to Do If Your Non-Online Account Doesn’t Balance
		Chapter 15; Reporting on the State of Affairs
			What Kinds of Reports Are There, Anyway?
			Creating and Printing a Report
			Reports Made to Order
			Processing Multiple Reports
			Last but Not Least: The QuickReport
		Chapter 16: Job Estimating, Billing, and Tracking
			Turning On Job Costing
			Setting Up a Job
			Creating a Job Estimate
			Revising an Estimate
			Turning an Estimate into an Invoice
			Comparing Estimated Item with Actual Item Amounts
			Charging for Actual Time and Costs
			Tracking Job Costs
		Chapter 17: File Management Tips
			Backing Up Is (Not That) Hard to Do
			Accountant’s Copy
			Working with Portable Files
			Using an Audit Trail
			Using a Closing Password
		Chapter 18: Fixed Assets and Vehicle Lists
			What Is Fixed Asset Accounting?
			Fixed Asset Accounting in QuickBooks
			Setting Up a Fixed Asset List
			Tracking Vehicle Mileage
	Part V: The Part of Tens
		Chapter 19: (Almost) Ten Tips for Business Owners
			Sign All Your Own Checks
			Don’t Sign a Check the Wrong Way
			Review Canceled Checks before Your Bookkeeper Does
			Choose a Bookkeeper Who Is Familiar with Computers and Knows How to Do Payroll
			Choose an Appropriate Accounting System
			If QuickBooks Doesn’t Work for Your Business
			Keep Things Simple
		Chapter 20: Tips for Handling (Almost) Ten Tricky Situations
			Selling an Asset
			Selling a Depreciable Asset
			Owner’s Equity in a Sole Proprietorship
			Owner’s Equity in a Partnership
			Owner’s Equity in a Corporation
			Multiple-State Accounting
			Getting a Loan
			Repaying a Loan
		Chapter 21: (Almost) Ten Secret Business Formulas
			The First “Most Expensive Money You Can Borrow” Formula
			The Second “Most Expensive Money You Can Borrow” Formula
			The “How Do I Break Even?” Formula
			The “You Can Grow Too Fast” Formula
			The First “What Happens If . . . ?” Formula
			The Second “What Happens If . . . ?” Formula
			The Economic Order Quantity (Isaac Newton) Formula
			The Rule of 72
	Part VI: Appendixes
		Appendix A: Installing QuickBooks in Ten Easy Steps
		Appendix B: If Numbers Are Your Friends
			Keying In on Profit
			In the Old Days, Things Were Different
			What Does an Italian Monk Have to Do with Anything?
			Two Dark Shadows in the World of Accounting
			The Danger of Shell Games
		Appendix C: Sharing QuickBooks Files
			Sharing a QuickBooks File on a Network
			Installing QuickBooks for Network Use
			Setting Up User Permissions
			Specifying Multi-User Mode
			Working in Multi-User Mode
Document Text Contents
Page 1

by Stephen L. Nelson, CPA,
MBA (fi nance), MS (taxation)



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185 Chapter 8: Keeping Your Checkbook

Setting up a second bank account
If you haven’t set up a second account, you need to set one up. To do so,

open the Chart of Accounts by choosing Lists➪Chart of Accounts, or just
click the Chart of Accounts icon on the Home screen in the Company section.

Click the Account button and then choose New. Fill in the name of the

account and, if you want to, the account number or a description of the

account. Then fill in the As Of box with the date that you opened the account.

Enter the opening balance as zero so that you can record your initial

deposit or transfer of money into the account. You record initial deposits

the way I describe earlier in this chapter (either as simple deposits or as

customer deposits, whatever the case may be). You record an initial transfer

by completing the following steps:

1. Choose Banking➪Transfer Funds.

You see the Transfer Funds Between Accounts window, as shown in

Figure 8-6.

2. Select the bank account from which you’re going to transfer the


From the Transfer Funds From drop-down list at the top of the window,

choose the account.

Figure 8-6:



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Page 206

186 Part II: Daily Entry Tasks
3. Select the bank account to which you want to transfer the money.

From the Transfer Funds To drop-down list, select the account that

receives the funds.

4. Enter the amount that you want to transfer and fill in the Memo box.

Someday, you might go into the register for the account that you’re

writing this check in (a transfer appears just like a check in your

register) and wonder where you transferred this money and why. Filling

in the Memo box solves this little mystery beforehand.

5. Click the Save & New button or the Save & Close button.

QuickBooks records the transfer, which you can confirm by opening your

Checking register. You see that the transfer has the letters TRANSFR in

the Type column and the name of the account to which you transferred

the money in the Account column. The amount that you transferred

shows up in the Payment column (because you transferred the funds out

of this account). Figure 8-7 shows a $1,000 transfer — in the figure, the

selected transaction is the one I’m talking about — from the checking

account named Big Banking Account to the account named Tiny Trust

Savings. You can tell that this transaction is a transfer because the other

account name shows up in the Account box.

Figure 8-7:
A transfer

in the


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Page 409

Available wherever books are sold. For more information or to order direct: U.S. customers visit or call 1-877-762-2974.
U.K. customers visit or call (0) 1243 843291. Canadian customers visit or call 1-800-567-4797.

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