C OMPUTER A CCOUNTING WITH Q UICK B OOKS 2013 C HAPTER 9 Donna Kay

C HAPTER 9 O VERVIEW  Record Owner’s Investment  Record Purchase Transactions  Record Sales Transactions  Make Adjusting Entries  Print Reports  Close the Accounting Period COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

R ECORD O WNERS ’ I NVESTMENT Use the Make Deposits window to record owner’s investment. COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

R ECORD P URCHASE T RANSACTIONS Purchase transactions can be: 1. Cash Purchases 2. Credit Purchases COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

C ASH P URCHASES Record cash purchases using the Write Checks window. COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

C REDIT P URCHASES For a service company, record credit purchases: 1.Enter the bill when received using the Enter Bills window. 2.Pay bill when due using the Pay Bills window. 3.Print the check. COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

M EMORIZED T RANSACTIONS Memorize recurring transactions: 1.Enter the bill 2.Memorize the transaction (Edit menu > Memorize Bill) 3.Use memorized transaction (Lists menu > Memorized Transaction List) COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

S ALES T RANSACTIONS Enter sales transactions with customers: 1.Prepare an invoice to record customer charges using Invoice window 2.Record customer payment using Receive Payments window 3.Record deposit in bank using Make Deposits window COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

P RINT T RIAL B ALANCE Print a Trial Balance to verify the accounting system is in balance before making adjustments. COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

A DJUSTING E NTRIES  Use the onscreen Journal to enter adjusting entries  Adjusting entries bring accounts up to date at the end of the accounting period. COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

P RINT A DJUSTED T RIAL B ALANCE Print an Adjusted Trial Balance to verify the accounting system is still in balance after making adjusting entries. COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

P RINT R EPORTS Financial reports for the year include:  General Ledger  Profit & Loss  Balance Sheet  Statement of Cash Flows COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

C LOSE THE A CCOUNTING P ERIOD QuickBooks automatically closes the accounting period by closing all temporary accounts. COMPUTER ACCOUNTING WITH QUICKBOOKS 2013

T O L EARN M ORE … See Chapter 9 Visit the Online Learning Center Visit COMPUTER ACCOUNTING WITH QUICKBOOKS 2013