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QuickBooks 2020 All-In-One For Dummies


QuickBooks 2020 All-In-One For Dummies


1. Aufl.

von: Stephen L. Nelson

22,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 10.12.2019
ISBN/EAN: 9781119589822
Sprache: englisch
Anzahl Seiten: 640

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<p><b>The quickest way to do the books for small business owners and managers</b></p> <p>No one looks forward to doing the finances: that’s why <i>QuickBooks 2020 All-in-One For Dummies</i> is on hand to help get it over with as quickly and painlessly as possible. This comprehensive one-stop reference combines 8 mini-books in one, all written in plain and simple language that makes it easy for even the most accounts-averse to get the most out of the latest version of the QuickBooks software and save time.</p> <p>Written and revised by financial expert Stephen Nelson, the latest version of this invaluable guide takes readers step-by-step through every aspect of small business accounting procedures, including understanding the fundamentals of double-entry bookkeeping, setting up and administering the QuickBooks system, and carrying out complex tasks such as ratio analysis and capital budgeting. </p> <ul> <li>Write a business plan and create a forecast</li> <li>Learn how to use profit-volume-cost analysis tools</li> <li>Prepare financial statements and reports</li> <li>Protect your financial data</li> </ul> <p>Time is money—get this time-saving resource today and start reaping the rewards!</p> <p> </p>
<p><b>Introduction</b><b> 1</b></p> <p>About This Book 1</p> <p>Foolish Assumptions 2</p> <p>Icons Used in This Book 3</p> <p>Beyond the Book 4</p> <p>Where to Go from Here 4</p> <p><b>Book 1: An Accounting Primer 7</b></p> <p><b>Chapter 1: Principles of Accounting</b><b> 9</b></p> <p>The Purpose of Accounting 9</p> <p>The big picture 10</p> <p>Managers, investors, and entrepreneurs 10</p> <p>External creditors 11</p> <p>Government agencies 11</p> <p>Business form generation 12</p> <p>Reviewing the Common Financial Statements 12</p> <p>The income statement 12</p> <p>Balance sheet 15</p> <p>Statement of cash flows 19</p> <p>Other accounting statements 22</p> <p>Putting it all together 24</p> <p>The Philosophy of Accounting 24</p> <p>Revenue principle 24</p> <p>Expense principle 25</p> <p>Matching principle 25</p> <p>Cost principle 25</p> <p>Objectivity principle 26</p> <p>Continuity assumption 26</p> <p>Unit-of-measure assumption 26</p> <p>Separate-entity assumption 27</p> <p>A Few Words about Tax Accounting 27</p> <p><b>Chapter 2: Double-Entry Bookkeeping</b><b> 29</b></p> <p>The Fiddle-Faddle Method of Accounting 30</p> <p>How Double-Entry Bookkeeping Works 32</p> <p>The accounting model 33</p> <p>Talking mechanics 35</p> <p>Almost a Real-Life Example 38</p> <p>Recording rent expense 39</p> <p>Recording wages expense 39</p> <p>Recording supplies expense 40</p> <p>Recording sales revenue 40</p> <p>Recording cost of goods sold 40</p> <p>Recording the payoff of accounts payable 41</p> <p>Recording the payoff of a loan 42</p> <p>Calculating account balance 42</p> <p>Using T-account analysis results 44</p> <p>A Few Words about How QuickBooks Works 46</p> <p><b>Chapter 3: Special Accounting Problems</b><b> 49</b></p> <p>Working with Accounts Receivable 50</p> <p>Recording a sale 50</p> <p>Recording a payment 50</p> <p>Estimating bad-debt expense 51</p> <p>Removing uncollectible accounts receivable 52</p> <p>Recording Accounts Payable Transactions 53</p> <p>Recording a bill 53</p> <p>Paying a bill 54</p> <p>Taking some other accounts payable pointers 54</p> <p>Inventory Accounting 55</p> <p>Dealing with obsolete inventory 56</p> <p>Disposing of obsolete inventory 57</p> <p>Dealing with inventory shrinkage 58</p> <p>Accounting for Fixed Assets 59</p> <p>Purchasing a fixed asset 59</p> <p>Dealing with depreciation 60</p> <p>Disposing of a fixed asset 62</p> <p>Recognizing Liabilities 63</p> <p>Borrowing money 63</p> <p>Making a loan payment 64</p> <p>Accruing liabilities 65</p> <p>Closing Out Revenue and Expense Accounts 67</p> <p>The traditional close 68</p> <p>The QuickBooks close 69</p> <p>One More Thing 70</p> <p><b>Book 2: Getting Ready to Use QuickBooks 71</b></p> <p><b>Chapter 1: Setting Up QuickBooks</b><b> 73</b></p> <p>Planning Your New QuickBooks System 73</p> <p>What accounting does 74</p> <p>What accounting systems do 74</p> <p>What QuickBooks does 74</p> <p>And now for the bad news 75</p> <p>Installing QuickBooks 76</p> <p>Dealing with the Presetup Jitters 77</p> <p>Preparing for setup 78</p> <p>Seeing what happens during setup 79</p> <p>Running the QuickBooks Setup Wizard 79</p> <p>Getting the big welcome 79</p> <p>Supplying company information 81</p> <p>Customizing QuickBooks 82</p> <p>Setting your start date 83</p> <p>Reviewing the suggested chart of accounts 84</p> <p>Adding your information to the company file 85</p> <p>Identifying the Starting Trial Balance 87</p> <p>A simple example to start 87</p> <p>A real-life example to finish 89</p> <p><b>Chapter 2: Loading the Master File Lists</b><b> 93</b></p> <p>Setting Up the Chart of Accounts List 94</p> <p>Setting Up the Item List 99</p> <p>Working with the Price Level List 99</p> <p>Using Sales Tax Codes 100</p> <p>Setting Up a Payroll Item List 100</p> <p>Setting Up Classes 101</p> <p>Setting Up a Customer List 103</p> <p>Setting Up the Vendor List 107</p> <p>Setting Up a Fixed Assets List 111</p> <p>Setting Up a Price Level List 112</p> <p>Setting Up a Billing Rate Level List 112</p> <p>Setting Up Your Employees 113</p> <p>Setting Up an Other Names List 113</p> <p>Setting Up the Profile Lists 114</p> <p><b>Chapter 3: Fine-Tuning QuickBooks</b><b> 117</b></p> <p>Accessing the Preferences Settings 118</p> <p>Setting the Accounting Preferences 120</p> <p>Using account numbers 120</p> <p>Setting general accounting options 121</p> <p>Setting the Bills Preferences 123</p> <p>Setting the Calendar Preferences 123</p> <p>Setting the Checking Preferences 123</p> <p>Changing the Desktop View 125</p> <p>Setting Finance Charge Calculation Rules 127</p> <p>Setting General Preferences 128</p> <p>Controlling Integrated Applications 130</p> <p>Controlling Inventory 131</p> <p>Controlling How Jobs and Estimates Work 132</p> <p>Dealing with Multiple Currencies 133</p> <p>Starting Integrated Payment Processing 134</p> <p>Controlling How Payroll Works 134</p> <p>Telling QuickBooks How Reminders Should Work 136</p> <p>Specifying Reports & Graphs Preferences 137</p> <p>Setting Sales & Customers Preferences 140</p> <p>Specifying How Sales Are Taxed 142</p> <p>Setting the Search Preferences 143</p> <p>Setting the Send Forms Preferences 143</p> <p>Fine-Tuning the Service Connection 144</p> <p>Controlling Spell Checking 145</p> <p>Controlling How 1099 Tax Reporting Works 146</p> <p>Setting Time & Expenses Preferences 147</p> <p><b>Book 3: Bookkeeping Chores 149</b></p> <p><b>Chapter 1: Invoicing Customers</b><b> 151</b></p> <p>Choosing an Invoice Form 151</p> <p>Customizing an Invoice Form 152</p> <p>Choosing a template to customize 152</p> <p>Reviewing the Additional Customization options 152</p> <p>Moving on to Basic Customization 157</p> <p>Working with the Layout Designer tool 159</p> <p>Working with the web-based Forms Customization tool 162</p> <p>Invoicing a Customer 162</p> <p>Billing for Time 168</p> <p>Using a weekly time sheet 168</p> <p>Timing single activities 169</p> <p>Including billable time on an invoice 170</p> <p>Printing Invoices 172</p> <p>Emailing Invoices 173</p> <p>Recording Sales Receipts 174</p> <p>Recording Credit Memos 176</p> <p>Receiving Customer Payments 178</p> <p>Assessing Finance Charges 180</p> <p>Setting up finance-charge rules 180</p> <p>Calculating finance charges 181</p> <p>Using Odds and Ends on the Customers Menu 182</p> <p><b>Chapter 2: Paying Vendors</b><b> 185</b></p> <p>Creating a Purchase Order 185</p> <p>Creating a real purchase order 186</p> <p>Using some purchase order tips and tricks 189</p> <p>Recording the Receipt of Items 189</p> <p>Simultaneously Recording the Receipt and the Bill 192</p> <p>Entering a Bill 193</p> <p>If you haven’t previously recorded an item receipt 194</p> <p>If you have previously recorded an item receipt 195</p> <p>Paying Bills 197</p> <p>Reviewing the Other Vendor Menu Commands 201</p> <p>Vendor Center 201</p> <p>Sales Tax menu commands 202</p> <p>Inventory Activities menu commands 203</p> <p>Print/E-file 1099s 203</p> <p>Item List 204</p> <p><b>Chapter 3: Tracking Inventory and Items</b><b> 205</b></p> <p>Looking at Your Item List 206</p> <p>Using the Item Code column 206</p> <p>Using the Item List window 207</p> <p>Using inventory reports 208</p> <p>Adding Items to the Item List 208</p> <p>Adding an item: Basic steps 209</p> <p>Adding a service item 210</p> <p>Adding an inventory part 211</p> <p>Adding a noninventory part 213</p> <p>Adding an other-charge item 215</p> <p>Adding a subtotal item 216</p> <p>Adding a group item 216</p> <p>Adding a discount item 217</p> <p>Adding a payment item 218</p> <p>Adding a sales tax item 219</p> <p>Setting up a sales tax group 219</p> <p>Adding custom fields to items 220</p> <p>Editing Items 222</p> <p>Adjusting physical counts and inventory values 222</p> <p>Adjusting prices and price levels 225</p> <p>Using the Change Item Prices command 225</p> <p>Using price levels 226</p> <p>Enabling advanced pricing 228</p> <p>Managing Inventory in a Manufacturing Firm 229</p> <p>Handling manufactured inventory the simple way 229</p> <p>Performing inventory accounting in QuickBooks 230</p> <p>Managing multiple inventory locations 233</p> <p><b>Chapter 4: Managing Cash and Bank Accounts</b><b> 235</b></p> <p>Writing Checks 236</p> <p>Recording and printing a check 236</p> <p>Customizing the check form 241</p> <p>Making Bank Deposits 243</p> <p>Transferring Money between Bank Accounts 246</p> <p>Working with the Register 247</p> <p>Recording register transactions 248</p> <p>Using Register window commands and buttons 251</p> <p>Using Edit Menu Commands 254</p> <p>Reconciling the Bank Account 258</p> <p>Reviewing the Other Banking Commands 262</p> <p>Order Checks & Envelopes command 263</p> <p>Enter Credit Card Charges command 263</p> <p>Bank Feeds command 264</p> <p>Loan Manager command 265</p> <p>Other Names list 265</p> <p><b>Chapter 5: Paying Employees</b><b> 267</b></p> <p>Setting Up Basic Payroll 268</p> <p>Signing up for a payroll service 269</p> <p>Setting up employees 269</p> <p>Setting up year-to-date amounts 273</p> <p>Checking your payroll setup data 274</p> <p>Scheduling Payroll Runs 274</p> <p>Paying Employees 274</p> <p>Editing and Voiding Paychecks 276</p> <p>Paying Payroll Liabilities 277</p> <p><b>Book 4: Accounting Chores 279</b></p> <p><b>Chapter 1: For Accountants Only</b><b> 281</b></p> <p>Working with QuickBooks Journal Entries 281</p> <p>Recording a journal entry 282</p> <p>Reversing a journal entry 283</p> <p>Editing journal entries 284</p> <p>Updating Company Information 284</p> <p>Working with Memorized Transactions 284</p> <p>Reviewing the Accountant & Taxes Reports 285</p> <p>Creating an Accountant’s Copy of the QuickBooks Data File 287</p> <p>Using an accountant’s copy 292</p> <p>Reusing an accountant’s copy 292</p> <p>Exporting client changes 292</p> <p>Importing accountant’s changes 293</p> <p>Canceling accountant’s changes 294</p> <p>Troubleshooting accountant’s copy transfers 294</p> <p>Using the Client Data Review Commands 295</p> <p><b>Chapter 2: Preparing Financial Statements and Reports</b><b> 297</b></p> <p>Some Wise Words Up Front 298</p> <p>Producing a Report 298</p> <p>Working with the Report Window 299</p> <p>Working with Report window buttons 299</p> <p>Using the Report window boxes 305</p> <p>Modifying a Report 308</p> <p>Using the Display tab 308</p> <p>Using the Filters tab 310</p> <p>Using the Header/Footer tab 312</p> <p>Formatting fonts and numbers 312</p> <p>Processing Multiple Reports 314</p> <p>A Few Words about Document Retention 315</p> <p><b>Chapter 3: Preparing a Budget</b><b> 319</b></p> <p>Reviewing Common Budgeting Tactics 319</p> <p>Top-line budgeting 320</p> <p>Zero-based budgeting 320</p> <p>Benchmarking 321</p> <p>Putting it all together 322</p> <p>Taking a Practical Approach to Budgeting 322</p> <p>Using the Set Up Budgets Window 323</p> <p>Creating a new budget 323</p> <p>Working with an existing budget 326</p> <p>Managing with a Budget 327</p> <p>Some Wrap-Up Comments on Budgeting 329</p> <p><b>Chapter 4: Using Activity-Based Costing</b><b> 331</b></p> <p>Reviewing Traditional Overhead Allocation 332</p> <p>Understanding How ABC Works 334</p> <p>The ABC product-line income statement 334</p> <p>ABC in a small firm 337</p> <p>Implementing a Simple ABC System 339</p> <p>Seeing How QuickBooks Supports ABC 340</p> <p>Turning On Class Tracking 341</p> <p>Using Classes for ABC 342</p> <p>Setting up your classes 342</p> <p>Classifying revenue amounts 342</p> <p>Classifying expense amounts 343</p> <p>After-the-fact classifications 343</p> <p>Producing ABC reports 345</p> <p><b>Chapter 5: Setting Up Project and Job Costing Systems</b><b> 347</b></p> <p>Setting Up a QuickBooks Job 347</p> <p>Tracking Job or Project Costs 350</p> <p>Job Cost Reporting 353</p> <p>Using Job Estimates 354</p> <p>Progress Billing 356</p> <p><b>Book 5: Financial Management 359</b></p> <p><b>Chapter 1: Ratio Analysis</b><b> 361</b></p> <p>Some Caveats about Ratio Analysis 362</p> <p>Liquidity Ratios 363</p> <p>Current ratio 363</p> <p>Acid-test ratio 364</p> <p>Leverage Ratios 365</p> <p>Debt ratio 365</p> <p>Debt equity ratio 366</p> <p>Times interest earned ratio 366</p> <p>Fixed-charges coverage ratio 367</p> <p>Activity Ratios 369</p> <p>Inventory turnover ratio 370</p> <p>Days of inventory ratio 370</p> <p>Average collection period ratio 371</p> <p>Fixed-asset turnover ratio 372</p> <p>Total-assets turnover ratio 373</p> <p>Profitability Ratios 373</p> <p>Gross margin percentage 373</p> <p>Operating income/sales 374</p> <p>Profit margin percentage 375</p> <p>Return on assets 375</p> <p>Return on equity 376</p> <p><b>Chapter 2: Economic Value Added Analysis</b><b> 379</b></p> <p>Introducing the Logic of EVA 379</p> <p>Seeing EVA in Action 380</p> <p>An example of EVA 382</p> <p>Another example of EVA 383</p> <p>Reviewing Some Important Points about EVA 383</p> <p>Using EVA When Your Business Has Debt 385</p> <p>The first example of the modified EVA formula 385</p> <p>Another EVA with debt example 387</p> <p>Presenting Two Final Pointers 389</p> <p>And Now, a Word to My Critics 391</p> <p><b>Chapter 3: Capital Budgeting in a Nutshell</b><b> 393</b></p> <p>Introducing the Theory of Capital Budgeting 393</p> <p>The big thing is the return 394</p> <p>One little thing is maturity 394</p> <p>Another little thing is risk 395</p> <p>The bottom line 395</p> <p>Calculating the Rate of Return on Capital 396</p> <p>Calculating the investment amount 397</p> <p>Estimating the net cash flows 397</p> <p>Calculating the return 402</p> <p>Measuring Liquidity 406</p> <p>Thinking about Risk 406</p> <p>What Does All of This Have to Do with QuickBooks? 408</p> <p><b>Book 6: Business Plans 409</b></p> <p><b>Chapter 1: Profit-Volume-Cost Analysis</b><b> 411</b></p> <p>Seeing How Profit-Volume-Cost Analysis Works 412</p> <p>Calculating Break-Even Points 414</p> <p>Using Real QuickBooks Data for Profit-Volume-Cost Analysis 416</p> <p>Sales revenue 416</p> <p>Gross margin percentage 416</p> <p>Fixed costs 418</p> <p>Recognizing the Downside of the Profit-Volume-Cost Model 418</p> <p>Using the Profit-Volume-Cost Analysis Workbook 420</p> <p>Collecting your inputs 420</p> <p>Understanding the break-even analysis 423</p> <p>Understanding the profit-volume-cost forecast 424</p> <p>Looking at the profit-volume-cost charts 426</p> <p><b>Chapter 2: Creating a Business Plan Forecast</b><b> 431</b></p> <p>Reviewing Financial Statements and Ratios 432</p> <p>Using the Business Plan Workbook 433</p> <p>Understanding the Workbook Calculations 440</p> <p>Forecasting inputs 440</p> <p>Balance Sheet 441</p> <p>Common Size Balance Sheet 448</p> <p>Income Statement 450</p> <p>Common Size Income Statement 454</p> <p>Cash Flow Statement 454</p> <p>Financial Ratios Table 461</p> <p>Customizing the Starter Workbook 467</p> <p>Changing the number of periods 467</p> <p>Performing ratio analysis on existing financial statements 467</p> <p>Calculating taxes for a current net loss before taxes 468</p> <p>Combining this workbook with other workbooks 468</p> <p><b>Chapter 3: Writing a Business Plan</b><b> 469</b></p> <p>What the Term “Business Plan” Means 469</p> <p>A Few Words about Strategic Plans 470</p> <p>Cost strategies 470</p> <p>Differentiated products and services strategies 471</p> <p>Focus strategies 471</p> <p>Look, Ma: No Strategy 471</p> <p>Two comments about tactics 472</p> <p>Six final strategy pointers 473</p> <p>A White-Paper Business Plan 474</p> <p>A New-Venture Plan 477</p> <p>Is the new venture’s product or service feasible? 477</p> <p>Does the market want the product or service? 478</p> <p>Can the product or service be profitably sold? 478</p> <p>Is the return on the venture adequate for prospective investors? 479</p> <p>Can existing management run the business? 480</p> <p>Some final thoughts 480</p> <p><b>Book 7: Care and Maintenance 483</b></p> <p><b>Chapter 1: Administering QuickBooks</b><b> 485</b></p> <p>Keeping Your Data Confidential 485</p> <p>Using Windows security 486</p> <p>Using QuickBooks security 486</p> <p>Using QuickBooks in a Multiuser Environment 487</p> <p>Setting up additional QuickBooks users 488</p> <p>Changing user rights in Enterprise Solutions 494</p> <p>Changing user rights in QuickBooks Pro and Premier 495</p> <p>Using Audit Trails 496</p> <p>Enabling Simultaneous Multiuser Access 497</p> <p>Maintaining Good Accounting Controls 498</p> <p><b>Chapter 2: Protecting Your Data</b><b> 503</b></p> <p>Backing Up the QuickBooks Data File 503</p> <p>Backing-up basics 504</p> <p>What about online backup? 507</p> <p>Some backup tactics 508</p> <p>Restoring a QuickBooks Data File 509</p> <p>Condensing the QuickBooks Company Files 513</p> <p>Cleanup basics 514</p> <p>Some cleanup and archiving strategies 518</p> <p><b>Chapter 3: Troubleshooting</b><b> 521</b></p> <p>Using the QuickBooks Help File and This Book 521</p> <p>Browsing Intuit’s Product-Support Website 523</p> <p>Checking Another Vendor’s Product-Support Website 525</p> <p>Tapping into Intuit’s Online and Expert Communities 525</p> <p>When All Else Fails 526</p> <p><b>Book 8: Appendixes </b><b>527</b></p> <p><b>Appendix A: A Crash Course in Excel</b><b> 529</b></p> <p>Starting Excel 529</p> <p>Stopping Excel 530</p> <p>Explaining Excel’s Workbooks 530</p> <p>Putting Text, Numbers, and Formulas in Cells 531</p> <p>Writing Formulas 532</p> <p>Scrolling through Big Workbooks 533</p> <p>Copying and Cutting Cell Contents 534</p> <p>Copying cell contents 534</p> <p>Moving cell contents 535</p> <p>Moving and copying formulas 536</p> <p>Formatting Cell Contents 537</p> <p>Recognizing That Functions Are Simply Formulas 538</p> <p>Saving and Opening Workbooks 541</p> <p>Saving a workbook 541</p> <p>Opening a workbook 542</p> <p>Printing Excel Workbooks 543</p> <p>One Other Thing to Know 544</p> <p><b>Appendix B: Government Web Resources for Businesses</b><b> 545</b></p> <p>Bureau of Economic Analysis 545</p> <p>Finding information at the BEA website 546</p> <p>Downloading a BEA publication 546</p> <p>Uncompressing a BEA publication 547</p> <p>Using a BEA publication 548</p> <p>Bureau of Labor Statistics 548</p> <p>Finding information at the BLS website 549</p> <p>Using BLS information 550</p> <p>Census Bureau 552</p> <p>Finding information at the Census Bureau website 552</p> <p>Using the Census Bureau’s publications 554</p> <p>Using the Census Bureau search engine 554</p> <p>Using the Census Bureau Subjects index 555</p> <p>Securities and Exchange Commission 555</p> <p>Finding information through EDGAR 556</p> <p>Searching the EDGAR database 556</p> <p>Federal Reserve 557</p> <p>Finding information at the Federal Reserve website 558</p> <p>Using the Federal Reserve website’s information 559</p> <p>Government Publishing Office 559</p> <p>Information available at the GPO website 559</p> <p>Searching the GPO database 560</p> <p>Internal Revenue Service 560</p> <p><b>Appendix C: Glossary of Accounting and Financial Terms</b><b> 563</b></p> <p>Index 593</p>
<p><b>Stephen L. Nelson, MBA, CPA,</b> provides accounting, business advisory, and tax planning and preparation services to small businesses. He has written more than 100 books explaining how to use computer software to manage personal and business finances.
<p><b>Your complete guide to QuickBooks<sup>®</sup> 2020</b> <p>QuickBooks is the number one accounting software for small to mid-sized businesses, and this complete reference guide includes everything you need to know to make it work its magic for you. Along with the latest upgrades to the software, you'll learn how to set up and administer QuickBooks, manage your expenses, and complete basic accounting and bookkeeping chores. You'll also find business plan tips and tricks and much more. <p><b>8 Books Inside…</b> <ul> <li>An Accounting Primer</li> <li>Getting Ready to Use QuickBooks</li> <li>Bookkeeping Chores</li> <li>Accounting Chores</li> <li>Financial Management</li> <li>Business Plans</li> <li>Care & Maintenance</li> <li>Business Resource Appendixes</li> </ul>

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