1. Computer Accounting with QuickBooks 2015
Chapter 3
Donna Kay

2. Chapter 3 Overview Check Register Record Deposits Write Checks
Reconcile Bank Statements
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

3. Home Page Banking
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

4. QuickBooks Check Register Shows…
Checking Balance
Deposits
Payments (Checks)
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

5. Record Deposits
Customer Payments are entered using Receive Payments (Customer section of Home page)
Undeposited funds are customer payments received but not deposited yet
Nonsales receipts can be entered using Record Deposits window
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

6. Record Deposits Select Record Deposits Select OK
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

7. Record Deposits Select Checking account Select Date
Select Received From
If needed, select QuickAdd
Select Other
Select OK
Select From Account
Enter Memo
Enter Check No
Enter Payment Method
Enter Amount
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

8. Record Deposits Select Print Select Deposit Summary
Select Save & Close
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

9. WRITE CHECKS… Can be used to pay:
Expenses, such as rent, utilities, and insurance
Non-inventory items, such as office supplies
Services, such as accounting or legal services
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

10. Pay Bills One–Step Approach Write Checks
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

11. WRITE CHECKS… Should NOT be used to pay:
Paychecks to employees for wages and salaries
Payroll taxes and liabilities
Sales taxes
Bills already entered using Enter Bills window (Vendor section of the Home page)
COMPUTER ACCOUNTING WITH QUICKBOOKS 2021

12. Write Checks Select Write Checks
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

13. Write Checks Select Bank Account Select Date
Select Pay to the Order of
Enter Amount
Select Print Later
Select Expenses tab
Select Account
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

14. Write Checks Select Print button Enter Check Number Select OK
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

15. Reconcile Bank Statements To…
Detect errors
Update accounting records for unrecorded items
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

16. Bank statement balance to Company’s accounting records
Reconcile…
Bank statement balance to Company’s accounting records
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

17. Differences
Differences between the bank statement and accounting records are due to:
Errors
Timing differences
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

18. Errors Bank errors Company errors
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

19. TIMING DIFFERENCES Bank has recorded an item, but the company has not
Unrecorded bank charges
Unrecorded interest earned
The company has recorded an item, but the bank has not
Deposits in transit
Outstanding checks
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

20. Reconcile Bank Statements
Select Reconcile
Select Account to Reconcile
Enter Statement Date
Compare Beginning Balance to Bank Statement Beginning Balance
Enter Ending Balance
Enter Service Charge
Enter Date
Enter Account
Select Continue
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

21. Reconcile Bank Statements
Select Deposits that have cleared
Select Checks that have cleared
Verify the Difference equals 0.00
Select Reconcile Now
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

22. To Learn More …
See Chapter 3 Visit the Online Learning Center Visit
COMPUTER ACCOUNTING WITH QUICKBOOKS 2015