1. C OMPUTER A CCOUNTING WITH Q UICK B OOKS 2013 C HAPTER 12 Donna Kay Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved

2. 12-2 C HAPTER 12 O VERVIEW  Budgets  Estimates  Progress billing  Credit Card Sales  Bad Debts  Audit Trail  Accountant Copy

3. 12-3 B UDGETS Create budgets for:  Profit & Loss  Balance Sheet

4. 12-4 E STIMATES Create estimates to bid on customer jobs.

5. 12-5 P ROGRESS B ILLING  Bill customer as the job progresses  Receive partial payment from customer before the project is complete

6. 12-6 C REDIT C ARD S ALES To process customers’ credit card payments: 1.For Payment Method select credit card type. 2.Enter Card No. 3.Enter Expiration Date. QuickBooks offers Merchant Account Services to process credit card transactions.

7. 12-7 B AD D EBTS  When a customer fails to pay their account, it is a bad debt or uncollectible account.  Two methods to account for bad debts are:  Direct write-off method  Allowance method

8. 12-8 B AD D EBTS Three methods to record a write-off of an uncollectible account are: 1.Make a journal entry. 2.Use the Receive Payments window. 3.Use the Credit Memo window.

9. 12-9 A UDIT T RAIL  Audit Trail feature tracks all changes (additions, modifications, and deletions) made to your QuickBooks records.  Audit Trail improves internal control by tracking changes by User ID.

10. 12-10 A UDIT T RAIL Create an Audit Trail report: 1.From the Report Center, select Accountant & Taxes. 2.Select Audit Trail.

11. 12-11 A CCOUNTANT ’ S C OPY  Create a copy of your QuickBooks company file for your accountant to review and update (.QBX file).  Your accountant can make changes while you continue to use QuickBooks.

12. 12-12 A SK M Y A CCOUNTANT Use the Ask My Accountant account when you are not sure how to record an item.

13. 12-13 S AVE T IME Save time. Reduce errors. Set up:  Memorized transactions  Memorized reports

14. 12-14 D OCUMENT M ANAGEMENT Now you can attach documents to QuickBooks forms. Example: attach a vendor’s bill when you enter the bill in QuickBooks.

15. 12-15 Q UICK B OOKS M OBILE A PPS Use apps on your mobile device to stay connected to QuickBooks. QuickBooks Mobile

16. 12-16 Q UICK B OOKS M OBILE A PPS Use apps on your mobile device to stay connected to QuickBooks. QuickBooks Go Payment

17. T O L EARN M ORE … See Chapter 12 Visit the Online Learning Center www.mhhe.com/kay2013 Visit www.myquickbooks.me www.mhhe.com/kay2013www.myquickbooks.me 12-17