1. Computer Accounting with QuickBooks 2015
Chapter 7
Donna Kay

2. Chapter 7 Overview Accounting Cycle Financial Statement Reports
Tax Reports
Management Reports
Export Reports to Excel
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

3. Accounting Cycle Throughout the year:
Chart of Accounts: add, update, and delete accounts
Transactions: record using onscreen forms
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

4. Accounting Cycle At year-end, prepare: Trial Balance
Adjustments: record with onscreen journal
Adjusted Trial Balance
Financial Statements and Reports
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

5. Trial Balance
Lists each account and the account balance at the end of the period
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

6. Adjustments
5 types of adjustment to bring the accounts up-to-date at year-end:
Depreciation
Prepaid Items
Unearned Revenue
Accrued Expenses
Accrued Revenues
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

7. Adjusting Entries Select Accountant
Select Make General Journal Entries
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

8. Adjusting Entries Enter Date Enter Entry No. Select Adjusting Entry
Select Account to Debit
Enter Debit Amount
Enter Memo
Select Account to Credit
Enter Credit Amount
Select Save & Close
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

9. Adjusted Trial Balance
Trial Balance + / - Adjusting Entries = Adjusted Trial Balance
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

10. General Ledger General Ledger lists for each account:
Beginning balance
Transactions affecting each account
Ending balance
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

11. General Ledger Select Reports Select Accountant & Taxes
Select General Ledger
Enter Dates
Select Run
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

12. General Ledger Select Customize Report Select Filters tab
Enter Account
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

13. General Ledger Select Display Tab Select Advanced Select In Use
Enter Current
Select OK
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

14. Reports Financial Statements Income Statement (P&L) Balance Sheet
Statement of Cash Flows
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

15. Reports Tax Reports Income Tax Preparation Report
Income Tax Summary Report
Income Tax Detail Report
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

16. Reports Management Reports Cash Flow Forecast
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

17. To Learn More …
See Chapter 7 Visit the Online Learning Center Visit
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015