Computer accounting with quickbooks 2011 chapter 9
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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 9. Chapter 9 Overview. Record Owner’s Investment Record Purchase Transactions Record Sales Transactions Make Adjusting Entries Print Reports Close the Accounting Period. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011. RECORD OWNERS’ INVESTMENT.

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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 9

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Computer accounting with quickbooks 2011 chapter 9

COMPUTER ACCOUNTING WITHQUICKBOOKS 2011CHAPTER 9


Chapter 9 overview

Chapter 9 Overview

  • Record Owner’s Investment

  • Record Purchase Transactions

  • Record Sales Transactions

  • Make Adjusting Entries

  • Print Reports

  • Close the Accounting Period

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Record owners investment

RECORD OWNERS’ INVESTMENT

  • Use the Make Deposits window to record owner’s investment.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Record purchase transactions

Record Purchase Transactions

Purchase transactions can be:

  • Cash Purchases

  • Credit Purchases

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Cash purchases

Cash Purchases

  • Record cash purchases using the Write Checks window.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Credit purchases

Credit Purchases

For a service company, record credit purchases by:

  • Entering the bill when received using the Enter Bills window.

  • Pay bill when due using the Pay Bills window.

  • Print the check.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Memorized transactions

Memorized Transactions

QuickBooks memorized transaction feature memorizes recurring transactions

  • Enter the bill

  • Memorize the transaction (Edit menu, Memorize Bill)

  • Use memorized transaction (Lists menu, Memorized Transaction List)

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Sales transactions

Sales Transactions

Enter sales transactions with customers:

  • Prepare an invoice to record customer charges using Invoice window

  • Record customer payment using Receive Payments window

  • Record deposit in bank using Make Deposits window

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Print trial balance

Print Trial Balance

  • To verify the accounting system is in balance at year-end, print a Trial Balance before making adjusting entries.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Adjusting entries

Adjusting Entries

  • Use the onscreen Journal to enter adjusting entries that bring accounts up to date at the end of the accounting period.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Print adjusted trial balance

Print Adjusted Trial Balance

  • To verify the accounting system is still in balance after making adjusting entries, print an Adjusted Trial Balance.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Print reports

Print Reports

Financial reports for the year include:

  • General Ledger

  • Profit & Loss

  • Balance Sheet

  • Statement of Cash Flows

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


Close the accounting period

Close the Accounting Period

  • QuickBooks automatically closes the accounting period by closing all temporary accounts.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


To learn more

TO LEARN MORE …

  • Turn to Chapter 9Visit the Online Learning Centerwww.mhhe.com/kay2011Visit the Student Blogwww.myquickbooks.me

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011


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