1. Computer Accounting with QuickBooks 2013 Chapter 7
Donna Kay
Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved

2. Chapter 7 Overview Accounting Cycle Financial Statement Reports
Tax Reports
Management Reports
Export Reports to Excel

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

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

5. Trial Balance
Lists each account and the account balance at the end of the period

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

7. Adjusted Trial Balance
Trial Balance + / - Adjusting Entries = Adjusted Trial Balance

8. General Ledger General Ledger lists for each account:
Beginning balance
Transactions affecting each account
Ending balance

9. Reports Financial Statements Income Statement (P&L) Balance Sheet
Statement of Cash Flows

10. Reports Tax Reports Income Tax Preparation Report
Income Tax Summary Report
Income Tax Detail Report

11. Reports
Management Reports
Cash Flow Forecast

12. Export Reports To Excel
Export reports to Excel using the Excel button

13. 7-13
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