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Chapter 5 Customers and Sales

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1 Chapter 5 Customers and Sales
Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

2 Chapter 5 The Customers page manages your customer list and transactions. On the Customers page, you can: View and update a complete list of your customers and their contact information. Add notes to any customer record. Search for a customer by name, company, open balance, or overdue balance. Track existing customer transactions, including overdue status. Create new customer transactions. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

3 QBO Tips To make sure you are starting in the correct place in the data, display the November 12, 20XX Trial Balance. The Customer Contact List shows customers that Cloud_Ware sells products to on account, meaning credit transactions or accounts receivable transactions. Accounts receivable are what customers owe your business. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

4 Files Saved in Chapter 5 The chart shows the PDF and Excel files saved in Chapter 5. Files can be saved to a USB flash drive, hard-drive location, network, or external media. To identify your file, you could add your name at the end of the suggested file name. PDF & Excel Page Chapter 5_Customer Contact List 145 Chapter 5_Products and Services List 157 Chapter 5_Journal 160 Chapter 5_Transaction Detail by Account 162 Chapter 5_Trial Balance 163 Chapter 5_AR Aging Summary 165 Chapter 5_Inventory Valuation Summary Chapter 5_Vendor Balance Summary 166 Chapter 5_AP Aging Summary 167 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

5 Files Saved in Chapter 5 (concluded)
PDF & Excel Page Chapter 5_Profit and Loss 168 Chapter 5_Balance Sheet Chapter 5_Statement of Cash Flows 169 Exercise 5-2_Vendor Balance Summary 177 Exercise 5-2_AP Aging Summary Exercise 5-2_Customer Contact List Exercise 5-2_Journal Exercise 5-2_Transaction Detail by Account Exercise 5-2_Trial Balance Exercise 5-2_Inventory Valuation Summary Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

6 Files Saved in Chapter 5 (concluded)
PDF & Excel Page Exercise 5-2_Customer Balance Summary 177 Exercise 5-2_AR Aging Summary Exercise 5-2_Profit and Loss Exercise 5-2_Balance Sheet Exercise 5-2_Statement of Cash Flows Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

7 Customer Settings or Preferences
Before adding customers, verify these settings. Gear > Account and Settings (or Company Settings) > Advanced. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

8 Customer Preferences (concluded)
Gear > Accounts and Settings (or Company Settings) > Sales Sales settings. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

9 Customer Contact List In Chapter 5, these customers are added. The two additional customers added in Exercise 5-1 are not shown. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

10 Customer Invoice When 5 data storage products are sold on account, an Invoice is used. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

11 Credit Memo When a customer returns merchandise, a Credit Memo is used. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

12 Accounts Receivable and A/R Aging Summary
Account 105 Accounts Receivable (A/R) shows the same balance as the A/R Aging Summary total. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

13 Customer Payment When a customer sends their payment for inventory sold on account, use Receive Payment. Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

14 Online Learning Center
Go online to for additional resources. Link to Student Edition, then select Chapter 5. The Online Learning Center includes: Narrated PowerPoints. Going to the Net exercises. Videos. Multiple-Choice Questions. True or False Questions. Analysis Questions. Glossary of Terms. Copyright ©2017 by McGraw-Hill Education. All rights reserved.

15 RadioFreeQB Videos Go to RadioFreeQB. Watch a QBO video of interest.
Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

16 Going to the Net Go online to the QuickBooks Learn & Support website. Type the search word saving invoices. Link to Saving invoices and other sales forms to your hard drive. What format is used by QBO to save customer statements and reports? Go to the QuickBooks Online blog. In the search field, type How to bookmark QuickBooks pages. Read the information. What Internet browsers can be used to set up bookmarks or favorites? How do you subscribe to the QuickBooks Online blog?   Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

17 Analysis Questions What is the account distribution for the 11/15/20XX sale on account of 5 data storage products to eBiz for a total of $150, Invoice 1007? What is the account distribution for selling one web server for cash, $400, Sales Receipt 1013 on 11/30/20XX? Copyright ©2017 by McGraw-Hill Education. All rights reserved. Copyright ©2017 by McGraw-Hill Education. All rights reserved

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