Show Me! QuickBooks® 2006

Table of contents

1. Copyright
   1. Dedication
2. About the Author
3. Acknowledgments
4. We Want to Hear from You!
5. Introduction
   1. What You'll Learn
   2. The Best Place to Start
   3. How This Book Works
      1. Step-by-Step Instructions
      2. Organization of the Book
6. 1. Setting Up Your Company Accounts with the EasyStep Interview
   1. Installing QuickBooks
      1. Install QuickBooks
   2. Hardware/Software Requirements
   3. Registering QuickBooks
      1. Register QuickBooks
   4. Setting Up QuickBooks in a Multiuser Office
      1. Set Up QuickBooks in a Multiuser Office
   5. Transferring Data from Older Versions of QuickBooks
      1. Transfer Data from Older Version of QuickBooks
   6. Transferring Data from Quicken
      1. Prepare Your Quicken Data for the Transfer
      2. Perform the Conversion from Quicken to QuickBooks
   7. Practicing with the Sample Company Files
      1. Practice with the Sample Company Files
   8. Entering Data for a New Company
      1. Open a New Company File and Follow the Interview Questions
   9. Questions You'll Have to Answer
   10. The Getting Started Checklist
   11. Entering a Start Date
       1. Enter a Start Date
   12. Choosing/Changing Your Start Date
   13. Setting Up a Bank Account
   14. Setting Up Expense Accounts
       1. Set Up Expense Accounts
   15. Setting Up Income Accounts
       1. Set Up Income Accounts
   16. Stopping, Restarting, and Completing the Interview
       1. Stop the EasyStep Interview
       2. Restart the EasyStep Interview
       3. Complete the EasyStep Interview
   17. Entering Historical Data
7. 2. Setting Up and Using Payroll Features
   1. Setting Payroll and Employee Preferences
      1. Set Up Payroll Preferences
   2. Using the QuickBooks Sales Rep feature
      1. Set Up Employee Preferences
   3. Setting Up Employees
      1. Enter Employee Personal Information
      2. Enter Employee Address Information
   4. Setting Up Employee Payroll Information
   5. Setting Up Employee Payroll Taxes
      1. Set Up Federal Payroll Tax Information
      2. Set Up State and Local Payroll Tax Information
   6. Setting Up Sick and Vacation Benefits
      1. Set Up Sick Benefits
      2. Set Up Vacation Benefits
   7. Determining Year-to-date Payroll Tax-Related Liabilities
   8. Entering Year-to-Date Payroll Amounts
   9. Setting Up Payroll Deductions
      1. Set Up Payroll Deductions
   10. Selecting Employees for Payroll Preparation
   11. You Can Subscribe to QuickBooks Payroll Services
   12. Entering Paycheck Information
       1. Enter Paycheck Information
   13. Using Timer Information with QuickBooks Payroll
   14. Printing Paychecks
   15. Using Direct Deposit
   16. How Does Direct Deposit Work?
   17. Creating Employer Payroll Reports
       1. View a Payroll Summary Report
       2. View Year-to-Date Payroll Liabilities
   18. Paying Payroll Taxes with Form 941
   19. Paying Federal Unemployment Compensation Taxes with Form 940
       1. Pay Federal Unemployment Compensation Taxes with Form 940
   20. Preparing W-2 Forms
   21. Issuing W-3 Forms
   22. Setting Up Independent Contractors for 1099 Forms
   23. Employees Versus Independent Contractors
   24. Setting 1099 Preferences
   25. Issuing 1099 Forms
   26. Outsourcing Payroll
       1. Record Payroll Expense and Payroll Liabilities
8. 3. Adding or Changing Information After the Interview Is Completed
   1. Setting General Preferences
      1. Set Personal General Preferences
      2. Set Company General Preferences
   2. Setting Desktop View Preferences
   3. Sorting Lists
   4. Displaying Lists on Forms
   5. Adding Accounts
   6. Using Account Numbers
   7. Adding Customers
      1. Add Customers
   8. Displaying Detailed Customer Information
   9. Adding Vendors
      1. Enter Vendor Address Information
      2. Enter Additional Vendor Information
   10. Adding Items in the List Window
   11. Types of Items
   12. Using Items on Forms
   13. Adding Information “On-the-Fly”
   14. Moving Items on a List
   15. Creating Subitems
   16. Editing Information on a List
   17. Using Notes to Enter Customer and Job Information
   18. Hiding Entries on Lists
       1. Hide a List Entry
       2. Change the Hidden Status of List Entries
   19. Using the Activities Menu on Your Lists
   20. Deleting Entries on a List
       1. Delete a List Entry
   21. Merging Entries on a List
   22. Printing Lists
       1. Print a List
   23. Searching for Transactions
       1. Search for a Transaction
   24. Generating a QuickReport
   25. Setting Accounting Preferences
9. 4. Invoicing and Collecting Income
   1. Setting Sales and Customers Preferences
   2. Accounting for Sales
   3. Creating an Invoice
   4. Types of Invoices
   5. Previewing Invoices
   6. Invoice Dates
   7. Printing a Single Invoice
   8. Printing a Batch of Invoices
   9. Emailing an Invoice
      1. Indicate Email Status on an Invoice
      2. Send One Invoice by Email
      3. Send a Batch of Email Invoices
   10. Charging Expenses to a Customer
       1. Designate Customer When Making a Purchase
       2. Place Expenses on a Customer Invoice
   11. Setting Finance Charge Preferences
   12. Creating a Monthly Statement
   13. Setting Send Forms Preferences
   14. Tracking Accounts Receivable
   15. Receiving Payments for Invoices
       1. Receive Payments for Invoices
   16. Issuing a Credit or Refund
   17. Receiving Cash
   18. Making Bank Deposits
   19. Receiving Advances, Retainers, and Down Payments
   20. Issuing Discounts
       1. Enter a Sales Discount on an Invoice
       2. Enter a Discount for Early Payment
   21. Viewing Open Invoices Report
   22. Creating a Collection Letter
   23. Recording Bad Debts
10. 5. Making Purchases and Recording Payments
    1. Setting Purchases and Vendors Preferences
       1. Set Purchase Orders and Inventory Preferences
       2. Set Bills Preferences
    2. Accounting for Purchases
    3. Using Purchase Orders
       1. Create Purchase Orders
       2. Order Items on a Purchase Order
    4. Viewing Items on Purchase Orders
    5. Viewing Vendor Information
    6. Receiving Goods
    7. Receiving a Partial Order
    8. Viewing Unpaid Bills Reports
    9. Paying Bills
    10. Taking Discounts
    11. Using the Check Register
        1. Use the Check Register
    12. Editing Bill Payments
    13. The QuickFill Feature
    14. Deleting Bill Payments
    15. Setting Checking Preferences
    16. Writing Checks
    17. Printing Checks
    18. Voiding Checks
        1. Void a Check in the Current Year
        2. Void a Check from a Previous Year
    19. Creating Purchase Reports
11. 6. Collecting and Paying Sales Tax
    1. Setting Sales Tax Preferences
    2. Creating a Sales Tax Item
    3. Creating a Sales Tax Group
    4. Charging Sales Tax to Customers
    5. Establishing Tax Status of Inventory Items
    6. Selling Tax Exempt Items
    7. Selling Items to Tax Exempt Customers
    8. Producing Monthly Sales Tax Reports
    9. Paying Sales Tax
    10. Taking a Discount for Early Payment
    11. Accounting for Sales Tax
12. 7. Using Time-Saving Features
    1. Memorizing Transactions
    2. Memorizing a Group of Transactions
       1. Memorize a Group
       2. Add a Transaction to the Group
    3. Using Memorized Transactions
    4. Scheduling Recurring Transactions
       1. Create a Recurring Transaction
       2. Choose Frequency of Recurrence
    5. Uses for Scheduled Transactions
    6. Add a Memorized Transaction to Your Icon Bar
    7. Changing Memorized and Scheduled Transactions
       1. Change a Memorized Transaction
       2. Change a Recurring Transaction
    8. Removing Memorized Transactions
    9. Setting Reminders Preferences
       1. Set Personal Reminders Preferences
       2. Set Company Reminders Preferences
    10. Using Reminders
13. 8. Job Cost Estimating and Tracking
    1. Setting Jobs and Estimate Preferences
    2. Accounting for Jobs
    3. Job Cost Estimating
    4. Setting Up a Job
       1. Enter New Job Information
       2. Enter Additional Information for a New Job
       3. Enter Payment Information for a New Job
       4. Enter Specific Job Information
    5. Using the Job Status Feature
       1. Set Up the Job Status Feature
       2. Use the Job Status Feature
    6. Using the Job Type Feature
    7. Using the Job Dates Feature
    8. Using the Job Description Feature
    9. Creating an Estimate
    10. Invoicing Against an Estimate
        1. Prepare an Invoice for 100% of the Estimate
        2. Prepare an Invoice for a Percentage of the Estimate
        3. Prepare an Invoice for Selected Items
    11. Revising Estimates
    12. Creating a Work in Progress Report
        1. Display a Work in Progress Report
        2. Filter a Report by Certain Criteria
14. 9. Tracking Time
    1. Setting Time Tracking Preferences
    2. Installing the Timer
    3. Getting Your Employees Up to Speed with the Timer
    4. Keeping Track of Time
    5. Exporting Information to the Timer
    6. Creating a New Timer File
    7. Creating a Timed Activity
    8. Using the Timer
    9. Sending Timer Data to QuickBooks
    10. Opening Timer Data in QuickBooks
    11. Viewing Timer Transactions
    12. Editing Timer Transactions
    13. Billing Time from the Timer to the Customer
    14. Backing Up and Condensing Timer Data
        1. Back Up Timer Data Without Condensing
        2. Back Up and Condense Timer Data
    15. Restoring Backed-Up and Condensed Timer Data
15. 10. QuickBooks Tips and Tricks
    1. Setting Spelling Preferences
    2. Creating a Budget
    3. Creating a Budget
    4. Budgeting in the First Year of Business
    5. Producing Budget Reports
    6. What's a Class?
    7. Using Classes with Payroll
    8. Setting Up Classes
    9. Displaying a Class List
    10. Using Multiple Classes on One Form
    11. Reporting on Classes
    12. Creating Payment Terms
    13. Customizing Forms—Editing Existing Forms
    14. Customizing Forms—Creating a New Form
    15. Making Journal Entries
        1. Make a Journal Entry
    16. Using the Audit Trail
    17. The Function of the Audit Trail
    18. Using the Accountant Edition of QuickBooks
    19. Using the QuickBooks Remote Access Feature
    20. Creating Mailing Labels
16. 11. Using QuickBooks Online
    1. Setting Service Connection Preferences
    2. Setting Up Your QuickBooks Internet Connection
    3. Signing Up with Your Bank for Online Services
    4. Activating Your Online Bank Account
    5. Why Bank Online?
    6. Retrieving QuickStatements (Online Bank Statements)
    7. Matching Transactions
    8. Making Online Payments
    9. Canceling Online Payments
    10. Sending Online Messages
        1. Create an Online Message
        2. Dispatch an Online Message
    11. Transferring Money Between Accounts
        1. Request the Funds Transfer
        2. Dispatch the Funds Transfer
    12. Getting Reports of Online Transactions
    13. Using the QuickBooks Website
    14. Using the Internet Version of QuickBooks
17. 12. Preparing Income Tax Returns
    1. Choosing the Correct Income Tax Form
    2. Which Income Tax Form Should You Use?
    3. Assigning Tax Lines
       1. Assign a Tax Line When Setting Up a New Account
       2. Assign a Tax Line to an Existing Account
    4. Using the Income Tax Summary Report
    5. Using the Income Tax Detail Report
    6. Paying Estimated Taxes
    7. Accounting for Income Taxes
    8. Making Estimated Tax Payments
    9. Creating a Tax Return
       1. Download Federal Tax Forms
       2. Download State Tax Forms
    10. Non-Tax-Related Transactions
    11. Using QuickBooks with TurboTax
18. 13. Security
    1. Backing Up Your QuickBooks Company File
    2. Restoring Backed-Up Information
       1. Restore Backed-Up Information
    3. Organize QuickBooks Transactions with a Daily Checklist
    4. Using the QuickBooks Online Backup Service
    5. Setting Up the Administrator
    6. Adding Users
       1. Add a User
       2. Assign All Rights
       3. Assign Selected Rights
    7. Editing User Access
    8. Removing Users
    9. Closing Financial Records at Year-End
       1. Set the Closing Date
       2. Restrict User Access to Pre-Closing Date Transactions
    10. Creating a Closing Date Exception Report
19. 14. Using Inventory Features
    1. Activating Inventory
    2. Accounting for Inventory
    3. Recording Manufacturing Inventory in QuickBooks
    4. Setting Up Inventory Items
    5. Adding to Your Inventory
    6. Editing Inventory Items
    7. Methods of Valuing Inventory
    8. Creating an Inventory Group
       1. Set Up the Inventory Group
       2. Use the Inventory Group
    9. Setting Up Reminders to Replenish Your Inventory
       1. Create a Reminder to Replenish Inventory
       2. View Reminders
    10. Preparing Inventory Reports
    11. A Variety of Inventory Reports
    12. Counting Your Inventory
    13. Adjusting Inventory Quantities
    14. Adjusting the Price of Inventory
20. 15. Recording Your Assets
    1. Reconciling to Your Bank Statement
    2. Accounting for Assets
    3. Tax Consequences of Sales of Business Assets
    4. Recording Automatic Teller Withdrawals
    5. Tracking Petty Cash
    6. Receiving Credit Card Payments
    7. Recording Deposits As Assets
    8. Purchasing Fixed Assets
       1. Enter a Fixed Asset in the Chart of Accounts
       2. Enter a Fixed Asset in the Fixed Asset Item List
    9. Calculating Depreciation
    10. Entering Depreciation
    11. Selling Fixed Assets
        1. Enter a Fixed Asset Sale on an Invoice
        2. Enter a Fixed Asset Sale in a Journal Entry
21. 16. Recording Owners' Equity
    1. Understanding the Opening Balance Equity Account
       1. Examine the Opening Balance Equity Account
       2. Zero-Out the Opening Balance Equity Account
    2. Accounting for Equity
    3. Recording Owners' Draws
       1. Set Up a Draw Account
       2. Record an Owner's Withdrawal
    4. Entering Prior Period Adjustments
    5. Viewing Contents of Retained Earnings Account
22. 17. Recording Liabilities
    1. Accounting for Liabilities
    2. Managing Accounts Payable
    3. Using the Report Center
    4. Recording Payroll Tax Accruals
    5. Setting Up Credit Card Accounts
       1. Set Up a Credit Card Account
       2. Record Credit Card Charges
       3. Pay/Reconcile a Credit Card Account
    6. Accounting for Deposits or Retainers
    7. Recording Loans
    8. Using the QuickBooks Loan Manager
    9. Calculating Interest
    10. Recording Loan Payments
23. 18. Preparing the Top Ten QuickBooks Reports
    1. Setting Reports and Graphs Preferences
       1. Set Personal Reports and Graphs Preferences
       2. Set Company-Wide Reports and Graphs Preferences
    2. Basic Report Rules
    3. Preparing an Income Statement
    4. Preparing a Balance Sheet
    5. Preparing a Trial Balance
    6. Preparing a General Ledger Report
    7. Preparing a Budget Report
    8. Save Time by Placing Favorite Reports on the Icon Bar
    9. Preparing a Sales Tax Liability Report
    10. Preparing a Payroll Liability Report
    11. Preparing an Accounts Receivable Aging Summary Report
    12. Preparing a Job Progress Report
    13. Preparing an Accounts Payable Aging Detail Report
    14. Customizing Reports
        1. Change the Dates and Columns on a Report
        2. Change the Report Filters
        3. Customize the Report Header and Footer
    15. Memorizing a Customized Report
24. Inside Front Cover
    1. THE NEW QUICKBOOKS HOME PAGE
25. Inside Back Cover
    1. SHOW ME! QuickBooks™ 2006
       1. Easy QuickBooks Keyboard Shortcuts
       2. Internet Resources for Small Businesses