Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. C OMPUTER A CCOUNTING WITH Q UICK B OOKS 2015 C HAPTER 12 Donna Kay

12-2 C HAPTER 12 O VERVIEW  Budgets  Estimates  Progress billing  Credit Card Sales  Bad Debts  Audit Trail  Accountant Copy

12-3 B UDGETS Create budgets for:  Profit & Loss  Balance Sheet

12-4 B UDGETS 1. Select Company 2. Select Planning & Budgeting 3. Select Set Up Budgets

12-5 B UDGETS 4. Select Year 5. Select Budget Type 6. Select Next

12-6 B UDGETS 7. Select Additional Profit and Loss Criteria 8. Select Next 9. Select Create budget from scratch 10. Select Finish

12-7 E STIMATES Create estimates to bid on customer jobs.

12-8 P ROGRESS B ILLING  Bill customer as the job progresses  Receive partial payment from customer before the project is complete

12-9 C REDIT C ARD S ALES 1. Select Receive Payments icon 2. Select Received From 3. Enter Payment Amount 4. Enter Date 5. Select Credit 6. Select Payment 7. Enter Card Number 8. Enter Expiration Date 9. Select Done 10. Select Invoice 11. Select Save & Close

12-10 B AD D EBTS  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

12-11 B AD D EBTS 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

12-12 A UDIT T RAIL  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.

12-13 A UDIT T RAIL 1. Select Accountant & Taxes 2. Select Audit Trail 3. Select Dates 4. Select Run

12-14 A CCOUNTANT ’ S C OPY  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.

12-15 A SK M Y A CCOUNTANT Use the Ask My Accountant account when you are not sure how to record an item.

12-16 S AVE T IME Save time. Reduce errors. Set up:  Memorized transactions  Memorized reports

12-17 D OCUMENT M ANAGEMENT Now you can attach documents to QuickBooks forms. Example: attach a vendor’s bill when you enter the bill in QuickBooks.

12-18 Q UICK B OOKS M OBILE A PPS Use apps on your mobile device to stay connected to QuickBooks. QuickBooks Go Payment

12-19 T O L EARN M ORE … See Chapter 12 Visit the Online Learning Center Visit