Outline for QuickBooks 2007 & 2008

1. The QuickBooks Product Line

a. QuickBooks Editions

b. QuickBooks Releases

2. Accounting 101

a. Accounting’s Focus

b. Account Types and Financial Reports

c. Double‐Entry Accounting

d. Accounting Behind the Scenes

e. Accounting for the Future: Cash or Accrual?

3. About QuickBooks Files

a. Opening Other QuickBooks Data Files

b. Closing QuickBooks Files

c. Closing the QuickBooks Program

4. Opening Portable Company Files

a. Creating Portable Company Files

5. Restoring Backup Files

a. Backing up Your Data File

b. Restoring a Backup File

6. Entering Transactions in QuickBooks

a. Forms

b. Lists

c. Accounts

d. Registers

e. Items

f. Centers

7. QuickBooks User Interface Features

a. Home Page

b. Menus

c. QuickBooks Navigation Bar

d. Icon Bar

e. Shortcut Keys

f. Open Previous Company

8. QuickBooks Help

a. Support Resources

b. Context‐Sensitive Help

1. Tracking Company Sales

2. Setting Up Customers

3. Job Costing

4. Recording Sales

a. Entering Sales Receipts

b. Undeposited Funds

c. Creating Invoices

d. Open Invoices Report

5. Receiving Payments from Customers

a. Receiving Payments by Check

b. Handling Partial Payments

c. Receiving Payments by Credit Card

d. Where Do the Payments Go?

e. Preferences for Applying Payments

f. Recording Customer Discounts

6. Making Bank Deposits

a. Depositing Checks and Cash

b. Holding Cash Back from Deposits

c. Printing Deposit Slips

d. Depositing Credit Card Payments

1. Recording Customer Returns and Credits

a. Customer Open Balance Report

b. Applying an Existing Credit Memo to an Invoice

c. Refunding Customers

2. Writing Off a Bad Debt

a. Applying the Bad Debt Credit Memo to an Open Invoice

3. Creating Customer Statements

4. Assessing Finance Charges

5. Creating Sales Reports

a. Sales by Customer Summary Report

b. Sales by Item Report

1. Entering Expenses in QuickBooks

a. The Process of Entering Expenses in QuickBooks

2. Setting Up Vendors

3. Activating Class Tracking

4. Tracking Job Costs

5. Paying Vendors

a. Using Registers

b. Using Write Checks Without Using Accounts Payable

c. Managing Accounts Payable

6. Printer Setup

7. Printing Checks

8. Voiding Check

9. Tracking Loans using the Loan Manager

a. Setting up a Loan in the Loan Manager

b. Making Loan Payments using the Loan Manager

10. Applying Vendor Credits

a. Handling Deposits and Refunds from Vendors

b. Vendor Deposits — When You Use Accounts Payable

c. Vendor Refunds — When You Use Accounts Payable

d. Vendor Refunds — When You Directly Expensed Payment

11. Tracking Petty Cash

12. Tracking Company Credit Cards

a. Entering Credit Card Charges

b. Paying the Credit Card Bill

13. Accounts Payable Reports

a. Vendor Balance Detail

b. Transaction List by Vendor

6. Handling Bounced Checks

a. When Your Customer’s Check Bounces
b. Receiving and Depositing the
Replacement Check
c. When Your Check Bounces

1. Types of Reports

2. Cash versus Accrual Reports

3. Accounting Reports

a. Profit & Loss

b. Balance Sheet

c. Statement of Cash Flows

d. General Ledger

e. Trial Balance

f. Voided/Deleted Transactions Summary Reports

4. Business Management Reports

a. Customer Phone List

b. Vendor Contact List

c. Item Price List

d. Check Detail Report

e. Accounts Receivable and Accounts Payable Reports

5. QuickBooks Graphs

6. Building Custom Reports

7. Memorizing Reports

8. Processing Multiple Reports

a. Report Groups

b. Processing Multiple Reports

9. Printing Reports

10. Finding Transactions

a. Finding Transactions in Registers

11. QuickReports

a. Using QuickZoom

12. Exporting a Report to Microsoft Excel

13. Exporting to Other Spreadsheet Programs

1. QuickBooks Tools for Tracking Inventory

2. Tracking Inventory with QuickBooks

3. Activating the Inventory Function

4. Setting up Inventory Parts Items

a. Applying a Unit of Measure to Another Item

5. Setting up Group Items

6. Calculating Average Cost of Inventory

7. Invoicing for Inventory Items

a. Selling Inventory Items Using an Invoice Form

b. Creating a Transaction Journal Report

c. Using Reminders for Inventory

8. Purchasing Inventory

a. Purchasing Inventory at a Retail Store with Check or Credit Card

9. Purchase Orders

a. Creating a Purchase Order

b. Receiving Shipments against Purchase Orders

c. Creating Open Purchase Orders Reports

d. Checking Purchase Order Status

e. Entering the Final Shipment

10. Entering Bills for Received Inventory

a. Converting an Item Receipt into a Bill

b. Handling Overshipments

c. Handling Vendor Overcharges

11. Adjusting Inventory

12. Inventory Assemblies

13. Inventory Reports

a. Inventory Item QuickReport

b. Inventory Stock Status by Item Report

c. Inventory Stock Status by Vendor Report

d. Inventory Valuation Summary Report

e. Inventory Valuation Detail Report

1. Setting up Sales Tax

a. Activating Sales Tax and Setting Preferences

2. Sales Tax Items

a. Using Sales Tax Items on Sales Forms

b. Setting Up Sales Tax Items

3. Sales Tax Codes

a. Using Sales Tax Codes on Sales Forms

b. Setting up Sales Tax Codes

c. Editing the Sales Tax Codes on Items and Customers

d. Calculating Sales Tax on Sales Forms

4. QuickBooks and Your Sales Tax Return

a. The Sales Tax Liability Report

b. Recording Discounts, Penalties, Interest and Rounding

c. Paying Sales Tax

1. Reimbursable (Billable) Expenses

2. Using Two‐Sided Items (Pro and above only)

a. Tracking Custom Orders

b. Using Service Items to Track Subcontracted Labor

c. Unbilled Costs by Job Report

3. Billable Time

a. Activating Time Tracking in QuickBooks

b. Entering Time on Timesheets

c. Printing Timesheets

d. Invoicing Customers for Time

4. Time Reports

a. Time by Name Report

b. Time by Job Detail Report

c. Time by Item Report

5. Tracking an Owner’s or Partner’s Time

6. Vehicle Mileage Tracking (Pro & above)

7. Multiple Pass‐Throughs on One Invoice

1. Checklist for Setting up Payroll

2. Activating Payroll

3. Payroll Accounts

4. Payroll Items

5. Enabling the Data File for Payroll Processing

a. Using the Internet to Enable Payroll Processing

b. Enable Payroll Processing Without an Internet Connection

6. The Payroll Setup Interview

a. Setting up Compensation and Benefits Payroll Items

b. Medical Insurance Deduction

c. 401(k) Employee Deduction and Company Match items

d. Paid Time Off Payroll Items

e. Setting up Employees

f. Payroll Tax Item Setup

g. Scheduling Your Tax Payments

7. Setting up Year‐to‐Date Payroll Amounts

8. Finishing Up The Payroll Setup Interview

a. Finalizing the Payroll Setup

b. Custom Fields for Payroll

9. Setting Up Employee Defaults

10. The Accounting Behind the Scenes — Payroll Items

11. Adding Payroll Items from the Payroll Item List

a. Adding a Wage (Compensation) Item

12. Editing Payroll Items

13. Releasing Employees

14. Deactivating and Reactivating Employees

15. The Employee Contact List report

1. Payroll Processing Checklists

2. Using the Employee Center

a. Payroll Center

3. Payroll Tax Tables

a. Updating your tax tables

4. Paying Employees

a. Selecting the Employees to Pay

b. Printing Paychecks

c. Printing Pay Stubs

d. Job‐Costing Wages

5. Editing, Voiding, and Deleting Paychecks

a. Editing Paychecks

b. Replacing Lost or Stolen Checks

c. Voiding Paychecks

d. Deleting Paychecks

6. Paying Payroll Liabilities

a. Editing a Liability Payment

b. Adjusting Payroll Liabilities

7. Creating Payroll Reports

a. Payroll Summary Report

b. Sales Rep Commissions

c. Payroll Liabilities Report

8. Preparing Payroll Taxes

a. Processing Form 941 and Schedule B

b. Processing Form 940

c. Processing W‐2s

d. Creating Reports for Preparing State or Local Payroll Taxes

e. State Payroll Taxes Detail Report

f. Summarizing Payroll Information in Microsoft Excel

 

1. Creating Estimates

a. Creating Invoices from Estimates

b. Progress Invoicing

c. Creating Purchase Orders from Estimates

d. Viewing and Tracking Estimates

2. Sales Orders

a. Sales Order Preferences

b. Creating Sales Orders

c. Creating Invoices from Sales Orders

d. Creating Purchase Orders from Sales

Orders

e. Tracking Sales Orders and Back Order

1. Creating Budgets and Budget Reports

a. Creating Budgets

b. Creating Budgets for Jobs

c. Creating Budgets for Classes

d. Creating Budget Reports

2. Creating Forecasts and Forecast Reports

a. Creating a Forecast for Accounts

b. Creating Forecast Reports

3. Cash Flow Projector

4. Creating a Business Plan

1. Processing 1099s

a. The 1099 Wizard

b. Editing 1099 Information in Vendor Records

c. Setting Account Mapping Preferences for 1099s

d. 1099 Summary Report

e. Printing 1099s and 1096 Forms

2. Editing, Voiding, and Deleting Transactions

a. Editing Transactions

b. Voiding and Deleting Transactions

3. General Journal Entries

a. Creating a General Journal Entry

b. Adjusting Expense Accounts Associated with Items (Zero‐Dollar Checks)

4. Tracking Fixed Assets

a. Using the Fixed Asset List

b. Calculating and Recording Depreciation

5. Memorized Transactions

a. Memorizing a Journal Entry

b. Deleting, Rescheduling, and Editing Memorized Transactions

6. Closing the Year

a. Closing the Accounting Period

b. Recording Closing Entries for Sole Proprietorships and Partnerships

c. Distributing Net Income to Partners

7. Setting the Closing Date to “Lock” Transactions

1. Complete Company File Setup: A 12‐Step Process

2. Choosing a Start Date – Step 1

3. The EasyStep Interview – Step 2

a. Launching the EasyStep Interview

4. Setting Up the Chart of Accounts and Other Lists – Step 3

a. Setting Up the Chart of Accounts

b. Setting Up Other Lists

5. Setting Up Opening Balances – Step 4

a. Gathering Your Information

b. Opening Balances for Accounts

c. Understanding Opening Bal Equity

6. Entering Open Items – Step 5

a. Entering Outstanding Checks and Deposits

b. Entering Open Bills (Accounts Payable)

c. Entering Open Invoices (Accounts Receivable)

d. Entering Open Purchase Orders

7. Entering Year‐to‐Date Income and Expenses– Step 6

8. Adjusting Opening Balance for Sales Tax Payable – Step 7

9. Adjusting Inventory and Setting up Fixed Assets – Step 8

a. Adjusting Inventory for Actual Counts

b. Setting up Fixed Assets

c. Setting up Loans

10. Setup Payroll and YTD Payroll Information – Step 9

11. Verifying your Trial Balance – Step 10

12. Closing Opening Bal Equity – Step 11

13. Setting the Closing Date ‐ Backing up the File – Step 12

a. Setting the Closing Date to Protect your Setup Balances

14. Users and Passwords

15. Setting Up Users in the Company File

1. QuickBooks Preferences

a. Setting User Preferences

b. Setting Company Preferences

2. Customizing QuickBooks Menus and Windows

a. Open Window List.

b. QuickBooks Menu Bars

c. Customizing the Icon Bar

3. QuickBooks Items and Other Lists

a. QuickBooks Items

b. Printing the Item List

c. Other Lists

d. The Terms List

e. Price Levels

4. Custom Fields

a. Adding Custom Field Data to Customer Records

5. Modifying Sales Form Templates

1. Description of Company – Horizon Financial Planning

2. Goals

3. Company Set Up

a. Classes

b. Items

4. Payroll Setup

a. Customer List

b. Vendor List

5. Instructions

6. Business Transactions

a. October 2007

b. November 2007

c. December 2007

7. Analysis Questions