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QuickBooks 2016: The Missing Manual

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How can you make your bookkeeping workflow smoother and faster? Simple. With QuickBooks 2016: The Missing Manual, you’re in control: you get step-by-step instructions on how and when to use specific features, along with basic bookkeeping and accounting advice to guide you through the learning process. Discover new and improved features like the Insights dashboard and easy report commenting.

Table of Contents

  1. QuickBooks 2016: The Missing Manual
  2. A Note Regarding Supplemental Files
  3. The Missing Credits
    1. About the Author
    2. About the Creative Team
    3. Acknowledgements
    4. The Missing Manual Series
  4. Introduction
    1. What’s New in QuickBooks 2016
    2. When QuickBooks May Not Be the Answer
    3. Choosing the Right Edition
      1. The QuickBooks Premier Choices
    4. Accounting Basics: The Important Stuff
    5. About This Book
    6. About the Outline
    7. The Very Basics
    8. About→These→Arrows
    9. About the Online Resources
      1. Missing CD
      2. Registration
      3. Feedback
      4. Errata
    10. Safari® Books Online
  5. One. Setting Up QuickBooks
    1. 1. Creating a Company File
      1. Opening QuickBooks
      2. Choosing a Start Date
      3. Creating a Company File
        1. Options for Creating a Company File
        2. Using QuickBooks Setup
        3. Using the EasyStep Interview
          1. Creating Your Company File
          2. Customizing Your Company File
        4. Adding Details to Your Company File
      4. Converting from Another Program to QuickBooks
        1. Converting from Quicken Home & Business
          1. Cleaning Up Your Quicken File
          2. Converting Your Quicken File
          3. Fine-Tuning Your Converted Quicken Data
        2. Converting from QuickBooks for Mac
        3. Converting from a Non-Intuit Program
      5. Opening an Existing Company File
        1. Opening a Recently Opened Company File
        2. Opening Any Company File
        3. Opening a Portable Company File
      6. Modifying Company Info
    2. 2. Getting Around in QuickBooks
      1. Menus and the Icon Bar
      2. The Home Page
      3. The Insights Tab
      4. Working with Windows
        1. Switching among Open Windows
        2. Supermax View
        3. Transaction Window Ribbons
        4. Resizing Drop-Down Lists and Columns
    3. 3. Setting Up a Chart of Accounts
      1. Acquiring a Chart of Accounts
        1. Importing a Chart of Accounts
      2. Planning the Chart of Accounts
        1. Do You Need Another Account?
        2. Naming and Numbering Accounts
          1. Organizing Account Numbers
          2. Viewing Account Numbers
          3. Choosing Good Account Names
      3. Creating Accounts and Subaccounts
        1. Creating an Account
      4. Working with Accounts
        1. Modifying Accounts
        2. Hiding Accounts
        3. Deleting Accounts
        4. Merging Accounts
    4. 4. Setting Up Customers, Jobs, and Vendors
      1. Working with the Customer Center
      2. Creating Customers in QuickBooks
        1. Creating a New Customer
          1. Entering Contact Information
          2. Entering Payment Information
          3. Specifying Sales Tax Information
          4. Specifying Additional Customer Information
        2. Adding More Customer Contacts
      3. Creating Jobs in QuickBooks
        1. Creating a New Job
      4. Working with the Vendor Center
      5. Creating Vendors in QuickBooks
        1. Creating a Vendor
          1. Address Info
          2. Payment Settings
          3. Tax Settings
          4. Account Settings
          5. Additional Info
      6. Working with Customers, Jobs, and Vendors
        1. Modifying Customer, Job, and Vendor Information
        2. Categorizing Customers, Jobs, and Vendors
          1. Understanding Customer, Job, and Vendor Types
          2. Creating a Vendor, Customer, or Job Type
        3. Hiding Records
        4. Deleting Records
        5. Merging Records
      7. Managing Leads
    5. 5. Setting Up Items
      1. What Items Do
      2. When You Don’t Need Items
      3. Should You Track Inventory with Items?
      4. Planning Your Items
        1. Generic or Specific?
        2. Naming Items
        3. Subitems
      5. Creating Items
      6. Service Items
        1. Service Items Without Associated Costs
        2. Service Items with Associated Costs
      7. Product Items
        1. Non-Inventory Part Fields
      8. Other Types of Items
        1. Other Charge
        2. Subtotal
        3. Group
        4. Discount
        5. Payment
      9. Working with Items
        1. Modifying Items
        2. Hiding Items
        3. Deleting Items
    6. 6. Data Entry Shortcuts for Lists
      1. Adding and Editing Multiple Records
        1. Customizing the Table’s Columns
        2. Displaying the Records You Want
        3. Adding or Editing List Entries
          1. Entering Data Directly in the Table
          2. Copying and Pasting Values from Excel
        4. Saving Changes
        5. Correcting Errors
      2. Importing Customer, Vendor, and Item Information
        1. Importing with the Excel Import Wizard Templates
        2. Importing Data from Your Own Excel File
    7. 7. Setting Up Other QuickBooks Lists
      1. Categorizing with Classes
        1. Turning on Class Tracking
        2. Setting Up Classes
      2. Price Levels
        1. Creating a Price Level
        2. Applying Price Levels
      3. Customer and Vendor Profile Lists
        1. Sales Rep List
        2. Customer Type List
        3. Vendor Type List
        4. Job Type List
        5. Terms List
          1. Setting Up Terms Using Elapsed Time
          2. Setting Up Date-Driven Terms
        6. Customer Message List
        7. Payment Method List
        8. Ship Via List
        9. Vehicle List
      4. Fixed Asset Items
      5. Managing Lists
        1. Creating Entries
        2. Editing Entries
        3. Hiding Entries
        4. Deleting Entries
        5. Finding List Entries in Transactions
        6. Sorting Lists
        7. Printing Lists
          1. Blasting Out a Quick List
          2. Customizing a Printed List
  6. Two. Bookkeeping
    1. 8. Tracking Time and Mileage
      1. Setting Up Time Tracking
        1. Turning on Time Tracking
        2. Setting Up the People Who Track Time
        3. Setting Up Items and Customers for Time Tracking
      2. Entering Time in QuickBooks
        1. Filling Out Weekly Timesheets
        2. Entering Time for One Activity
      3. Running Time Reports
      4. Tracking Mileage
        1. Adding a Vehicle
        2. Setting the Mileage Rate
        3. Recording Mileage Driven
      5. Generating Mileage Reports
    2. 9. Paying for Expenses
      1. When to Pay Expenses
      2. Viewing Payables with Bill Tracker
      3. Entering Bills
        1. Entering Bills for Services and Non-Inventory Items
      4. Recording a Deposit to a Vendor
      5. Handling Reimbursable Expenses
        1. Setting Up Reimbursements as Income
        2. Recording Reimbursable Expenses
      6. Paying Your Bills
        1. Selecting Bills to Pay
        2. Modifying Payment Amounts
        3. Applying Discounts and Credits to Payments
          1. Applying Discounts Manually
          2. Applying Credits Manually
        4. Setting the Payment Method and Account
        5. Paying Selected Bills
      7. Writing Checks Without Entering Bills
        1. Using the Write Checks Window
        2. Adding Checks to an Account Register
      8. Producing Checks
        1. Writing Checks by Hand
        2. Setting Up QuickBooks to Print Checks
        3. Printing Checks
      9. Paying Using Other Payment Methods
        1. Paying with Credit Cards
        2. Paying with a Debit Card
        3. Paying with PayPal
        4. Paying with Cash
          1. Recording ATM Withdrawals and Deposits to Petty Cash
          2. Recording Purchases Made with Petty Cash
      10. Recording Vendor Refunds and Credits
        1. Recording Vendor Refunds
        2. Recording Vendor Credits
      11. Running Expense-Related Reports
        1. A/P Aging and Vendor Balance Reports
        2. Reports about Purchases
        3. The Insights Tab
    3. 10. Invoicing
      1. Choosing the Right Type of Form
        1. Sales Receipts
        2. Statements
        3. Invoices
      2. Sales Forms and Accounts
      3. Creating Invoices
        1. Creating an Invoice
        2. Filling in Invoice Header Fields
          1. Choosing the Customer or Job
          2. Choosing an Invoice Template
          3. The Other Header Fields
        3. Entering Invoice Line Items
          1. Modifying Line Items
        4. Applying Subtotals, Discounts, and Percentage Charges
        5. Adding a Message to the Customer
        6. Adding a Link to Pay Online
        7. Adding a Memo to Yourself
        8. Choosing How to Send the Invoice
      4. Creating Batch Invoices
        1. Before You Create Your First Batch Invoice
        2. Setting Up a Batch Invoice
      5. Deposits, Down Payments, and Retainers
        1. Setting Up QuickBooks for Prepayments
        2. Recording Prepayments
        3. Applying a Deposit, Down Payment, or Retainer
        4. Refunding Prepayments
      6. Invoicing for Billable Time and Costs
        1. Setting Up Invoicing for Time and Costs
        2. Adding Billable Time and Costs to Invoices
        3. Using Invoice for Time & Expenses
        4. Selecting Billable Time and Costs
        5. Creating a Batch of Time and Expenses Invoices
        6. Checking for Unbilled Costs
      7. Invoicing for Backordered Products
        1. Using Pending Invoices for Backorders
        2. Using Sales Orders for Backorders
      8. Selling Products on Consignment
        1. Consigning Products to Someone Else to Sell
          1. When You Deliver Products to Consignees
          2. When Consignees Sell Your Stuff
        2. Selling Consignment Goods Received from Someone Else
          1. Adding Consignment Items to Your Inventory
          2. Recording Consignment Sales
          3. Paying Consignors
      9. Estimating Jobs
        1. Creating an Estimate
        2. Creating Multiple Estimates
        3. Creating an Invoice from an Estimate
        4. Comparing Estimates to Actuals
      10. Creating Progress Invoices
        1. Progress Invoicing Options
        2. Fine-Tuning a Progress Invoice
      11. Handling Customer Refunds and Credits
        1. Creating a Credit Memo from an Invoice
        2. Creating Credit Memos
        3. Creating Refund Checks
        4. Applying Credits to Existing Invoices
        5. Applying Credits to New Invoices
      12. Modifying Invoices
        1. Editing Invoices
        2. Voiding and Deleting Invoices
    4. 11. Producing Statements
      1. Generating Statements
        1. Creating Statement Charges
        2. Generating Customer Statements
          1. Choosing the Date Range
          2. Selecting Customers
          3. Setting Additional Options
        3. Previewing Statements
        4. Generating Statements
          1. Emailing Statements
          2. Printing Statements
    5. 12. Transaction Timesavers
      1. Printing Forms
        1. Setting Print Options
        2. Aligning Forms and Paper
        3. Choosing a Print Method
        4. Printing One Form
        5. Printing in Batches
        6. Printing Mailing and Shipping Labels
        7. Printing Packing Slips
      2. Emailing Forms
        1. Choosing a Send Method
        2. Emailing One Form
        3. Emailing in Batches
      3. Memorizing Transactions
        1. Creating a Memorized Transaction
        2. Using a Memorized Transaction
          1. Recording a Transaction When You’re Reminded
          2. Recording an Occasional Transaction
          3. Recording a Transaction Automatically
        3. Editing a Memorized Transaction
        4. Creating Memorized Groups of Transactions
      4. Finding Transactions
        1. Searching with QuickBooks’ Centers
        2. Finding Items
        3. Using QuickBooks Search
        4. Using the Find Feature
          1. Finding Made Simple
          2. Advanced Find Methods
          3. Using Search Results
    6. 13. Managing Accounts Receivable
      1. Receivables Aging
        1. Viewing Receivables with Income Tracker
        2. Getting a High-Level View with the Company Snapshot
        3. Viewing Receivables Detail in the Customer Center
        4. Accounts Receivable Aging Reports
        5. Seeing What Customers Owe with Reports
      2. Receiving Payments for Invoiced Income
      3. Applying Credits to Invoices When You Receive Payments
      4. Discounting for Early Payment
      5. Correcting Misapplied Customer Payments
        1. Wrong Invoice, Right Customer or Job
        2. Wrong Invoice, Wrong Customer
      6. Applying Finance Charges
        1. Finance Charge Preferences
        2. Assessing Finance Charges on Overdue Balances
      7. Cash Sales
        1. Creating Sales Receipts
        2. Editing Sales Receipts
        3. Voiding and Deleting Sales Receipts
        4. Memorizing a Batch Sales Transaction
        5. Reconciling Excess and Short Cash
      8. Making Deposits
        1. Choosing Payments to Deposit
        2. Recording Deposits
        3. Depositing Money from Merchant Card Accounts
    7. 14. Bank Accounts and Credit Cards
      1. Entering Transactions in an Account Register
        1. Opening a Register Window
        2. Creating a Transaction in an Account Register
      2. Handling Bounced Checks
        1. Managing Bounced Checks You Wrote
        2. Using the Record Bounced Check Feature
        3. Handling Customers’ Bounced Checks on Your Own
          1. Item for Removing the Bounced-Check Amount from Your Bank Account
          2. Items for Bounced-Check Service Charges
        4. Recording Bank Charges
        5. Re-invoicing for Bounced Checks
      3. Transferring Funds
      4. Reconciling Accounts
        1. Preparing for the First Reconciliation
        2. Preparing for Every Reconciliation
        3. Starting a Reconciliation
        4. Reconciling Transactions
        5. Modifying Transactions During Reconciliation
        6. Stopping and Restarting a Reconciliation
        7. Reconciliation Reports
        8. Correcting Discrepancies
          1. Using the Discrepancy Report to Find Problem Transactions
          2. Re-reconciling Corrected Transactions
          3. Other Ways to Find Discrepancies
        9. Undoing the Last Reconciliation
        10. When Your Bank Makes a Mistake
      5. Managing Loans
        1. Setting Up a Loan
        2. Adding a Loan to Loan Manager
          1. Basic Setup
          2. Payment Information
          3. Interest Rate Information
        3. Modifying Loan Terms
        4. Setting Up Payments
    8. 15. Doing Payroll
      1. Getting Started with Payroll
        1. What You Need from the Government
        2. Employee-Related Forms You Need
        3. Payroll Decisions You Need to Make
      2. Intuit Payroll Services
      3. Recording Transactions from a Payroll Service
      4. Paying Yourself
        1. Taking a Draw
        2. Reclassifying Shareholders’ Distribution to Salary
          1. Reclassifying Payroll Withholdings
    9. 16. Making Journal Entries
      1. Balancing Debit and Credit Amounts
      2. Some Reasons to Use Journal Entries
      3. Creating Journal Entries
      4. Checking Journal Entries
      5. Reclassifications and Corrections
        1. Reclassifying Accounts
        2. Reassigning Jobs
      6. Recording Depreciation with Journal Entries
      7. Recording Owner’s Contributions
        1. Recording Initial Noncash Contributions
        2. Recording Home-Office Expenses
    10. 17. Performing Year-End Tasks
      1. Checking for Problems
        1. Getting Rid of Uncleared Transactions from Closed Periods
      2. Viewing Your Trial Balance
      3. Generating Financial Reports
        1. The Profit & Loss Report
          1. Generating a Profit & Loss Report
          2. Other Profit & Loss Reports
        2. The Balance Sheet
          1. Generating a Balance Sheet Report
        3. The Statement of Cash Flows
          1. Generating a Statement of Cash Flows
        4. Other Helpful Financial Reports
      4. Generating Tax Reports
      5. Sharing a Company File with Your Accountant
        1. Creating an Accountant’s Review Copy
          1. Merging Accountant Changes into Your Company File
          2. Canceling an Accountant’s Review Copy
        2. Setting Up an External Accountant User
      6. 1099s
        1. Generating 1099 Reports
        2. Printing 1099-MISC Forms
      7. Closing the Books for the Year
  7. Three. Managing Your Business
    1. 18. Keeping Track of Financial Tasks
      1. Tracking To-Dos
        1. Creating a To-Do
        2. Editing a To-Do
        3. Viewing To-Dos
      2. Adding Notes
      3. Reminders
      4. Your Financial Calendar
    2. 19. Managing QuickBooks Files
      1. Switching Between Multi- and Single-User Mode
      2. Backing Up Files
        1. Choosing Standard Backup Settings
        2. Backing Up Manually
        3. Automated Backups
          1. Setting Up Automatic Backups
          2. Scheduling Backups for a Single Company File
      3. Restoring Backups
      4. Sending Company Files to Others
        1. Creating a Portable Company File
        2. Opening a Portable Company File
      5. Verifying Your QuickBooks Data
        1. Running the Verify Data Utility
        2. Reviewing Problems
        3. Running the Rebuild Data Utility
      6. Condensing Data
        1. Running the Condense Data Utility
      7. Cleaning Up After Deleting Files
    3. 20. Managing Inventory
      1. Following the Inventory Money Trail
      2. Setting Up Inventory Items
        1. Turning on Inventory
        2. Creating Inventory Items
      3. Purchasing Inventory
        1. Creating Purchase Orders
        2. Receiving Inventory and Bills Simultaneously
        3. Receiving Inventory Before the Bill
      4. Selling Inventory
      5. Running Inventory Reports
        1. Purchases Reports
        2. How Much Is Inventory Worth?
          1. Inventory Valuation Summary Report
          2. Inventory Valuation Detail Report
        3. Inventory Stock Status
        4. Viewing One Inventory Item
      6. Working with the Inventory Center
      7. Performing a Physical Inventory
      8. Adjusting Inventory in QuickBooks
        1. Adjusting Quantities
        2. Adjusting Quantities and Values
    4. 21. Working with Sales Tax
      1. Setting Up Sales Tax
        1. Turning on QuickBooks Sales Tax
        2. Other Sales Tax Preferences
        3. Setting Up Sales Tax Features
        4. Sales Tax Codes
          1. Assigning Tax Codes to Customers
          2. Assigning Tax Codes to Items
          3. Creating Additional Sales Tax Codes
        5. Sales Tax Items
      2. Producing Reports of the Sales Tax You Owe
      3. Paying Sales Tax
    5. 22. Budgeting and Planning
      1. Types of Budgets
      2. Ways to Build Budgets
      3. Creating Budgets in QuickBooks
      4. Creating Customer:Job or Class Budgets
      5. Filling in Budget Values
        1. Copying Across Columns
        2. Adjust Row Amounts
      6. Creating and Copying Budgets with Excel
        1. Setting Up a Budget in Excel
        2. Importing a Budget into QuickBooks
      7. Running Budget Reports
        1. The Budget Overview Report
          1. Report Layouts
        2. The Budget vs. Actual Report
        3. The Profit & Loss Budget Performance Report
        4. The Budget vs. Actual Graph
    6. 23. Tracking Finances with Reports and Graphs
      1. Finding the Right Reports
        1. Reviewing Reports in the Report Center
        2. Working with Reports in the Report Center
        3. Finding Frequently Used Reports
      2. Running Reports
      3. Adding Comments to Reports
      4. Printing and Saving Reports
        1. Saving Reports as Files
      5. Customizing Reports
        1. Choosing Date Ranges
        2. Selecting Subtotals
        3. Customizing Columns
          1. Adding and Removing Columns in Summary Reports
          2. Adding or Removing Columns in Detail Reports
          3. Resizing and Moving Columns
        4. Sorting Reports
        5. Filtering Reports
        6. Report Headers and Footers
        7. Fonts and Numbers
      6. Memorizing Reports
      7. Swapping Reports Between Company Files
        1. Exporting a Report Template
        2. Importing Report Templates
  8. Four. QuickBooks Power
    1. 24. Banking Online with QuickBooks
      1. Setting Up Your Accounts for Online Services
        1. Applying for Online Services
        2. Activating Online Services for Your QuickBooks Account
      2. Exchanging Data with Your Bank
        1. QuickBooks’ Online Banking Modes
        2. Downloading Statements with Web Connect
        3. Creating Online Items for Direct Connections
          1. Paying Bills Online
          2. Sending a Message to Your Bank
          3. Transferring Funds Between Accounts
      3. Banking Online Using Express Mode
        1. Sending and Receiving Transactions
        2. Matching Transactions
        3. Matching Unmatched Transactions
          1. Matching Deposits
          2. Matching Checks and Expenses
        4. Adding Multiple Transactions
        5. Deleting Downloaded Transactions
      4. Banking Online Using Classic Mode
        1. Sending and Receiving Items
        2. Working with Online Items
        3. Matching Transactions
        4. Adding Multiple Transactions
        5. Deleting Downloaded Transactions
    2. 25. Configuring Preferences to Fit Your Company
      1. Preferences: The Basics
      2. Accounting
      3. Bills
      4. Calendar
      5. Checking
        1. Choosing the Bank Accounts You Use
        2. Settings for Company Checks
        3. Choosing Company-Wide Payroll Accounts
        4. Selecting a Bank Feeds Mode
      6. Desktop View
        1. Window Preferences
        2. Preferences for Saving the Desktop
        3. Customizing the Home Page
      7. Finance Charge
      8. General
        1. Tuning QuickBooks to Your Liking
        2. Company-Wide General Preferences
      9. Integrated Applications
      10. Items & Inventory
      11. Jobs & Estimates
      12. Multiple Currencies
      13. Payments
      14. Payroll & Employees
      15. Reminders
      16. Reports and Graphs
        1. Preferences for the Reports You Generate
        2. Company-Wide Report Preferences
      17. Sales & Customers
      18. Sales Tax
      19. Search
      20. Send Forms
        1. Setting Your Send Preferences
        2. Customizing Messages
      21. Service Connection
      22. Spelling
      23. Tax: 1099
      24. Time & Expenses
    3. 26. Integrating QuickBooks with Other Programs
      1. Mail Merge to a Word Document
        1. Creating Letters and Envelopes in QuickBooks
      2. Synchronizing Contacts
        1. Using QuickBooks Contact Sync for Outlook
      3. Working with Other Apps
        1. Finding Add-On Apps
        2. Setting Up an Integrated App
      4. Exporting QuickBooks Data
        1. Exporting Lists and Addresses
          1. Exporting Lists to a Text File
          2. Exporting Addresses
        2. Exporting Reports
          1. Customized Exports Using Contact List Reports
      5. Importing Data from Other Programs
        1. Importing a Delimited File
    4. 27. Customizing QuickBooks
      1. Customizing the Home Page
        1. Turning Customer and Vendor Icons On and Off
        2. Turning Related Preferences On and Off
        3. Account Balances
      2. Fast Access to Favorite Features
        1. Building Your Favorites Menu
        2. Customizing the Icon Bar
          1. Adding and Removing Icons
          2. Adding Windows or Reports to the Icon Bar
          3. Changing an Icon’s Appearance
          4. Changing the Order of Icons
      3. Customizing the Company Snapshot
      4. Customizing Forms
        1. Starting with an Existing Template in QuickBooks
        2. Basic Customization
          1. Adding a Logo
          2. Applying a Color Scheme
          3. Changing Fonts
          4. Including Basic Company and Transaction Info
        3. Additional Customization
        4. Managing Templates
          1. Copying a Template
          2. Deleting or Hiding a Template
          3. Exchanging Templates Between Company Files
    5. 28. Keeping Your QuickBooks Data Secure
      1. Setting Up the Administrator
        1. Assigning the Administrator User Name and Password
        2. Resetting the Administrator Password
        3. Complying with Credit Card Security Regulations
      2. Creating QuickBooks Users
        1. Adding New Users
        2. Resetting a User Password
      3. Restricting Access to Features and Data
        1. What the Access Areas Represent
        2. Setting Access Rights
  9. Five. Appendixes
    1. A. Installing QuickBooks
      1. Before You Install
      2. Installing QuickBooks
        1. Installing QuickBooks for the First Time
        2. Installing or Upgrading to a New Version of QuickBooks
      3. Activating QuickBooks
      4. Setting Up QuickBooks on a Network
      5. Where to Store Your Company Files
        1. Storing Company Files on a Network
    2. B. Help, Support, and Other Resources
      1. QuickBooks Help
      2. Intuit Community
        1. Accessing the Community Within QuickBooks
      3. Other Kinds of Help
      4. Other Help Resources
      5. QuickBooks Training
  10. Index
  11. About the Author
  12. Copyright