2013.  Process customer returns and credits  Write off customer invoices (record bad debts)  Create customer statements  Collect sales tax  Create.

Slides:



Advertisements
Similar presentations
Topic: Sales Tax and 1099 Reporting
Advertisements

Siebel 1D – New Service Sales Order. Fill out the fields Remember: You can use the applet on the top and bottom interchangeably. You are modifying the.
Accounting for Uncollectible Accounts Receivables
6 th Annual Focus Users’ Conference 6 th Annual Focus Users’ Conference Point of Sale Presented by: Natasha Leon Presented by: Natasha Leon.
Slideshow 4 Setting Up Bank Services, Tax Services and Schedule Codes 5.2.
©2012 Pearson Education, Inc. publishing as Prentice Hall 6-1 QUICKBOOKS® 2011: A COMPLETE COURSE CHAPTER 6—LECTURE PAYABLES AND PURCHASES: MERCHANDISING.
Sold merchandise to a customer on account, customer is tax exempt.
Tracking and Paying Sales Tax Lesson Lesson objectives  To get an overview of sales tax in QuickBooks (the steps involved in tracking, collecting,
ProcureAZ 11 Invoices.
NextGen Trustee Receipting
Journalizing INVENTORY-Related Transactions Slideshow 8 B.
Inventory and Purchase Orders. 2 Objectives 1. Activate the Inventory function 2. Set up Inventory Items in the Item list 3. Use QuickBooks to calculate.
People © 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other.
People © 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other.
CHAPTER ELEVEN INTRODUCTION TO MERCHANDISING BUSINESSES: SALES.
Chapter 10 Accounting Theory.
The PAYABLES Module Beyond Basics Slideshow 3B. Filing HST Returns 3 Vendor Prepayment 6 Discount for Merchandise Purchases 8 Discount for Non-Merchandise.
Navigate to the Service Request Orders View. Fill out the fields The Order Number will be blank until the record is saved. The Order Type should be Service.
2013.  Reconcile your checking account  Create bank reconciliation reports  Find errors during reconciliation  Correct errors found during reconciliation.
McGraw-Hill/Irwin Introduction to QuickBooks Pro, 2004 © 2005 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 7 Sales Tax.
People © 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other.
2012.  Track company sales  Set up customer records in the Customer Center  Track income and expenses by Job  Record Sales Receipts  Use the Undeposited.
Non-student (External) Accounts Receivable System.
BAD DEBTS Chapter 8 p Bad Debts = a term used to describe amounts that cannot be collected The reporting of bad debts is governed by the matching.
LESSON 10-2 Journalizing Sales & Cash Receipts Using Special Journals
Presented by: Jessica Annis & Christie Vuleta Hardin County Schools 1.
2013.  Modify QuickBooks Preferences  Customize QuickBooks Menus and Windows  Customize the Icon Bar and Display Settings  Use the Item List and Other.
Payables Management Using Great Plains Brought to you by… Team #1.
People © 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other.
Which of the following is included in “Other Receivables”
Doing Payroll With QuickBooks Lesson Lesson objectives  To gain an overview of payroll in QuickBooks  To learn more about payroll setup  To set.
Slideshow 2 Setting Up Bank Services, Tax Services and Schedule Codes.
2012.  Set up vendors in the Vendor list  Understand how to use classes in QuickBooks  Use QuickBooks for job costing  Enter expense transactions.
©2008 TTW Where “Lean” principles are considered common sense and are implemented with a passion! Product Training Customer Review.
Student Fees A-Z. Ed Kobus This document contains confidential proprietary trade secret information of SunGard K-12 Education. This file is not to be.
PestPac Software. Pay On Commission Commission can be paid on Production, Receipt, or Up-Front. Production: Commission will be paid when work is completed/an.
Pass-Throughs Chapter 1. PAGE REF #CHAPTER 1: PassThroughs SLIDE # 2 Objectives What makes an expense Billable, Not Billable, or Billed How to record.
Managing Revenue Chapter 2. PAGE REF #CHAPTER 2: Managing Revenue SLIDE # 2 Objectives Set up customer records in the Customer:Job list Record Sales Receipts.
Chapter 2 Page ref. Chapter 2 Managing Revenue 31.
Chapter 1 Page ref. Chapter 1 Company File Setup and Maintenance 1.
Bank Reconciliation. Process of balancing your check book Compare your bank statement to your records in QuickBooks to ensure that bank shows what you.
Chapter 1 Page ref. Chapter 1 Pass-Throughs 1. Chapter 1 Page ref. Objectives 1. What makes an expense Billable, Not Billable, or Billed 2. How to record.
Managing Expenses Chapter 3. PAGE REF #CHAPTER 3: Managing Expenses SLIDE # 2 Objectives Set up vendors in the Vendor list Understand how to use classes.
Review Final Exam Jason Wu January 22, 2014 CAC205-D3 Computerized Accounting.
Sales and Cash Receipts Journal Review. Lesson 10-1.
Company File Setup and Maintenance Chapter 6. PAGE REF #CHAPTER 6: Company File Setup and Maintenance SLIDE # 2 2 Objectives Use the EasyStep Interview.
Chapter 2 Page ref. Chapter 2 Customizing QuickBooks 53.
Inventory Chapter 3. PAGE REF #CHAPTER 3: Inventory SLIDE # 2 2 Objectives Activate the Inventory function Set up Inventory Items in the Item list Set.
Sales Tax Chapter 4. PAGE REF #CHAPTER 4: Sales Tax SLIDE # 2 2 Objectives Activate and Set Sales Tax Preferences Use Sales Tax Items on Sales Forms Set.
Company File Setup and Maintenance Chapter 6. PAGE REF #CHAPTER 6: Company Setup SLIDE # 2 2 Objectives Use the EasyStep Interview to setup your company.
McGraw-Hill/Irwin Introduction to QuickBooks Pro, 2004 © 2005 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 11 Customizing QuickBooks.
Welcome to Bookkeeping This is your introduction to MYOB v19 Accounting.
Linda Bliley, CMA, EA Bliley Tax and Accounting LLC
COMPUTER ACCOUNTING WITH MICROSOFT BUSINESS SOLUTIONS—GREAT PLAINS 8.0
Computer Accounting with QuickBooks 2015
Computer Accounting with QuickBooks 2015
Data-Basics Training & Support
Computer Accounting with QuickBooks 2015
Bookkeeping Procedures
Computer Accounting with QuickBooks 2015
Get Customer Refund Check in QuickBooks Online Quickbooks Contact Our Intuit Certified QuickBooks ProAdvisor for moment help anyplace in the USA. A debt.
© 2014 Cengage Learning. All Rights Reserved.
CASH AND CREDIT CARD SALES
© 2014 Cengage Learning. All Rights Reserved.
© 2014 Cengage Learning. All Rights Reserved.
The Sales Process 2012.
© 2014 Cengage Learning. All Rights Reserved.
LESSON 10-3 Accounting for Cash and Credit Card Sales
Computer accounting with quickbooks 2018
Presentation transcript:

2013

 Process customer returns and credits  Write off customer invoices (record bad debts)  Create customer statements  Collect sales tax  Create sales reports

 Use Credit Memos in following situations: ◦ Cancel an order that has been invoiced ◦ Returned merchandise ◦ Credit-on-account for a customer ◦ Refunding a customer  Customers menu > Create Credit Memos/Refunds

 Refund to a customer when a customer: ◦ Returns merchandise after payment ◦ Requests a discount or refund on paid merchandise or services ◦ Overpays their Invoice and requests a refund  If the customer paid with cash or check, issue a refund check  If the customer paid with a credit card, credit the customer’s credit card.

 In Credit memo, click Use Credit To and choose Give Refund  Issue a Refund window ◦ Information filled in  Creates refund check in the checking account and records the Credit Memo

 Write off uncollectible invoices with a credit memo ◦ Bad Debt Item  Bad Debt is an Other Charge Item linked to Bad Debts expense

 Customer statements provide a summary of the activity for an accounts receivable customer during the period you specify

 The Sales Tax Item calculates the tax for the sale

 Additional classification for calculating and reporting sales tax  Assigned to each product or service item, as well as to each customer.  Sales Tax Codes serve two purposes ◦ Indicate whether a specific product or service is taxable or non-taxable ◦ Categorize revenue based on the reason you charged or didn’t charge sales tax.

 To set up a Sales Tax Code ◦ From the Lists menu select Sales Tax Code List ◦ Select New from the Sales Tax Code menu at the bottom of the list ◦ Enter three character Sales Tax code and description ◦ Each Sales Tax Code has a taxable or non-taxable status

 Add Sales Tax Code to Customer in the Additional Information tab  Default Tax Code on sales forms

 QuickBooks automatically calculates and tracks sales tax on each sale.

 Shows sales to each customer over a given date range  Select the Reports menu, then select Sales, and then select Sales by Customer Summary

 Shows sales of each Item over a given date range  Select the Reports menu, then select Sales, and then select Sales by Item Summary

 Process customer returns and credits  Write off customer invoices (record bad debts)  Create customer statements  Collect sales tax  Create sales reports