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QuickBooks 2009 Solutions Guide for Business Owners and Accountants

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QuickBooks 2009 Solutions Guide for Business Owners and Accountants

By Laura Madeira
Published Dec 22, 2008 by Que.

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Description

Copyright 2009
Edition: 1st

Book
ISBN-10: 0-7897-3834-1
ISBN-13: 978-0-7897-3834-9

QuickBooks 2009 Solutions Guide

This is the definitive, must-have reference for every business owner, entrepreneur, accountant, and bookkeeper who relies on QuickBooks 2009. Not a beginner’s guide, it’s a high-productivity resource for solving the problems that intermediate-to-advanced QuickBooks users encounter most often.

Author Laura Madeira is superbly qualified to write this book: she has twenty years experience training professionals on Intuit products and has been selected by

Intuit to introduce its new releases to accountants and entrepreneurs. Here, she offers real solutions for every QuickBooks accounting module, helping readers achieve their true goal for QuickBooks: a clear, up-to-date understanding of where the business stands, and where it’s headed.

Thoroughly updated for QuickBooks 2009, this book brings together indispensable, start-to-finish techniques for troubleshooting QuickBooks data files and fixing QuickBooks mistakes wherever they occur. Drawing on her unsurpassed experience, Madeira offers expert advice on every facet of QuickBooks accounting: data files, banking, A/R, undeposited funds, employee advances, inventory, A/P, sales tax, payroll, reporting, sharing data

with accountants, and much more.

This book will help you :

• Quickly set up accurate charts of accounts – or improve existing ones

• Use QuickBooks reports to understand the most important trends in your business

• Correct data errors in any balance sheet account, from A/R and A/P to taxes and inventory

• How to use the New for 2009! Client Data Review feature for accountants.

• Properly review your payroll data and avoid expensive mistakes

• Efficiently share business data with your accountant

• Troubleshoot beginning balance differences, reconciliation errors, and many other problems

• Learn to use the Intuit Statement Writer tool, New for 2009!

Laura Madeira is founder of ACS, Inc., located in the greater Dallas, Texas area and an Intuit Solutions Provider that specializes in on-site and Internet-assisted accounting software implementation, set-up, training and troubleshooting. She has over twenty years of experience helping companies maintain accurate and timely accounting and financial information through one-on-one consulting, group classes, and web-based training.

Madeira currently writes technical documentation and presentations for the QuickBooks product line as a member of the Intuit Accounting Professionals Trainer/Writer Network. She has also served on Intuit’s Accountant and Customer Advisory Council and was a guest speaker for the QuickBooks Developer Network. Her “QuickBooks at Year-End” document has been distributed by Intuit at several national events and is one of Intuit’s most requested training and presentation documents.

Her expertise with QuickBooks and other Intuit software has been featured nationally in an Advisor Spotlight and widely-distributed promotional literature. She holds Intuit's Advanced Certified, Point of Sale Certified designations, as well as a bachelor of science in accounting from Florida Atlantic University.

Category Business | Finance

Covers QuickBooks 2009

User Level Intermediate–Advanced

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Introduction

How This Book Is Organized . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1

Conventions Used in This Book . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

Menu Commands . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

Web Pages and Manufacturer Information . . . . . . . . . . . . . . . . . . . . . . . .4

Special Elements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

1 Creating a New QuickBooks Data File . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5

EasyStep Interview–Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6

Select a Start Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

Enter Bank Account Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

Review Income and Expense Accounts . . . . . . . . . . . . . . . . . . . . . . . . . .14

Converting from Other Accounting Software to QuickBooks . . . . . . . . . . . .15

Converting from Quicken to QuickBooks . . . . . . . . . . . . . . . . . . . . . . . .16

Converting from Peachtree, Small Business Accounting, or

Office Accounting to QuickBooks . . . . . . . . . . . . . . . . . . . . . . . . . . . .18

Converting from QuickBooks for Windows to QuickBooks

Online Edition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20

Converting from QuickBooks for Mac to QuickBooks for Windows . . . .21

Converting from QuickBooks for Windows to QuickBooks for Mac . . . . .21

Setting Up a QuickBooks Data File for Accrual or Cash Basis Reporting . . . .22

Cash or Accrual Basis Startup Transactions: Accounts Receivable . . . . . .24

Cash or Accrual Basis Startup Transactions: Accounts Payable . . . . . . . . .29

Cash or Accrual Basis Startup Transactions: Bank Account

Statement Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34

Cash or Accrual Basis Startup Transactions: Checking

Uncleared Bank Checks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35

2 Reviewing the QuickBooks Chart of Accounts . . . . . . . . . . . . . . . . . . . . .37

Understanding the Chart of Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38

Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38

Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39

Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39

Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39

Cost of Goods Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39

Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40

Importing a Chart of Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40

Importing from an Excel File Format . . . . . . . . . . . . . . . . . . . . . . . . . . . .40

Importing from an Intuit Interchange Format (IIF) File . . . . . . . . . . . . . .46

Preferences That Affect the Chart of Accounts . . . . . . . . . . . . . . . . . . . . . . .48

Accounts That QuickBooks Creates Automatically . . . . . . . . . . . . . . . . . . . .50

Methods to Troubleshoot and Correct Chart of Account Issues . . . . . . . . . .51

Removing Duplicated Accounts by Marking an Account Inactive . . . . . .52

Merging Duplicated Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .53

Wrong Account Type Assigned to a Chart of Accounts Listing . . . . . . . .55

Assigning or Removing a Subaccount Relationship . . . . . . . . . . . . . . . . .57

3 Reviewing and Correcting Item List Errors . . . . . . . . . . . . . . . . . . . . . . . .61

Differences Between the Chart of Accounts, Items, Classes, and Customer Types . . .62

Chart of Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62

Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63

Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63

Customer Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65

Using Item Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .66

Finding Item Errors in QuickBooks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .69

Reviewing Accounts Assigned to Items . . . . . . . . . . . . . . . . . . . . . . . . . .69

Item Listing Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .70

Profit & Loss Summary Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .72

Fixing Item Errors in QuickBooks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .74

Correcting One-Sided Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .74

Making an Item Inactive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .78

Merging Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .79

Creating Items as Subitems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .80

4 Easily Review Your QuickBooks Data . . . . . . . . . . . . . . . . . . . . . . . . . . . .83

Client Data Review–New for 2009! . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .84

Choosing a Reporting Basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .85

Reviewing the Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .86

Account Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .87

Prior Year Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .87

Bank Account Balance(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .89

Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .89

Undeposited Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .90

Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .91

Other Current Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .92

Fixed Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .93

Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .93

Credit Cards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .94

Payroll Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .94

Sales Tax Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95

Other Current Liabilities and Long-Term Liabilities . . . . . . . . . . . . . . . . .96

Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .96

Additional Data Reviews . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .96

Payroll Summary Total and Payroll Expense Total . . . . . . . . . . . . . . . . . .96

Sales by Item Summary Compared to Total Income . . . . . . . . . . . . . . . .97

Net Income or (Loss) Agrees with Balance Sheet . . . . . . . . . . . . . . . . . .98

Reconcile Discrepancies Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .98

Cash Basis Balance Sheet Has Accounts Receivable or Payable . . . . . . . .98

5 Power Reports for Correcting Beginning Balance Differences . .101

How Can These Power Reports Help Me? . . . . . . . . . . . . . . . . . . . . . . . . .102

Troubleshoot Account Balances–New for QuickBooks 2009! . . . . . . . . . .103

The Working Trial Balance Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103

Tracking Changes to Closed Accounting Periods . . . . . . . . . . . . . . . . . . . .105

Setting a Closing Date and Password . . . . . . . . . . . . . . . . . . . . . . . . . .106

Setting User-Specific Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .107

Creating the Closing Date Exception Report . . . . . . . . . . . . . . . . . . . . .109

Using the Audit Trail Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .110

Using the Credit Card Audit Trail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .111

Using the Voided/Deleted Transactions Summary or Detail Report . . . . . .114

Creating the Retained Earnings QuickReport . . . . . . . . . . . . . . . . . . . . . . .115

Using the Ctrl+Y Keyboard Shortcut . . . . . . . . . . . . . . . . . . . . . . . . . . . . .117

Running the Transaction List by Date Report . . . . . . . . . . . . . . . . . . . . . . .118

Documenting Changes Made to a Data File . . . . . . . . . . . . . . . . . . . . . . .120

6 Bank Account Balance or Reconciliation Errors . . . . . . . . .123

The Importance of Correct Bank Balances in Your QuickBooks Data . . . . .124

Reconciling a Bank Account for the First Time . . . . . . . . . . . . . . . . . . . . . .124

Verify That the Bank Account Has Not Been Reconciled . . . . . . . . . . . .125

Verifying That All Bank-Related Transactions Have Been Entered . . . . .125

Identifying All Uncleared Transactions . . . . . . . . . . . . . . . . . . . . . . . . . .127

Completing the Multiple-Year or Month Bank Reconciliation . . . . . . . .128

Troubleshooting an Incorrectly Reconciled Bank Account . . . . . . . . . . . . .130

Reviewing Uncleared Bank Transactions . . . . . . . . . . . . . . . . . . . . . . . .131

Reviewing Previous Bank Reconciliation Reports . . . . . . . . . . . . . . . . . .134

Locating Bank Account Reconciliation Discrepancies . . . . . . . . . . . . . . .135

Reviewing the Voided/Deleted Report . . . . . . . . . . . . . . . . . . . . . . . . . .136

Restarting a Previously Completed Bank Reconciliation . . . . . . . . . . . . .137

Undoing a Previous Bank Reconciliation . . . . . . . . . . . . . . . . . . . . . . . .137

Reconciling with an Adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .139

7 Reviewing and Correcting Accounts Receivable Errors . . . . . . . . . . . . .141

Accounts Receivable Forms and Workflow . . . . . . . . . . . . . . . . . . . . . . . . .142

Preferences That Affect Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . .144

Sales & Customers Preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .145

Checking Preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .148

Finance Charge Preference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .149

Jobs & Estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .150

Reminders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .150

Reports & Graphs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .150

Sales Tax Preference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .153

Send Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .154

Spelling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .154

Time and Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .155

Reports to Review When Troubleshooting Accounts Receivable Errors . . . .157

Reconcile Balance Sheet Accounts Receivable Amount to A/R Aging Summary Total . . . . . . . . .157

Review Open Invoices Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .159

Generate a Missing Customer Invoices Report . . . . . . . . . . . . . . . . . . .160

When an Accounts Receivable Balance Appears on a Cash Basis Balance Sheet. . . . . .162

Correcting Accounts Receivable Errors . . . . . . . . . . . . . . . . . . . . . . . . . . . .165

Removing an Open Balance from a Customer Invoice . . . . . . . . . . . . .165

Correcting Customer Payments Applied to the Incorrect

Invoice, Customer, or Job . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .172

When a Credit Memo Is Applied to the Wrong Customer Invoice . . . . .176

When Deposits Were Made Without Using the Receive

Payment Form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .179

Grouping Deposited Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .182

Eliminating the Print Queue for Customer Invoices Marked to Print . .185

Unique Customer Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .186

Recording Your Accountant’s Year-End Adjusting Journal Entry

to Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .186

When a Customer Is Also a Vendor . . . . . . . . . . . . . . . . . . . . . . . . . . . .187

Recording Customer’s Bounced Check . . . . . . . . . . . . . . . . . . . . . . . . .190

8 Reviewing and Correcting Errors with the Undeposited

Funds Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .193

The Purpose of the Undeposited Funds Account . . . . . . . . . . . . . . . . . . . .194

Preference Settings that Affect Undeposited Funds . . . . . . . . . . . . . . . . . .194

Reviewing the Balance in the Undeposited Funds Account . . . . . . . . . . . .197

Creating an Undeposited Funds Detail Report . . . . . . . . . . . . . . . . . . .197

Creating a General Ledger Report of the Undeposited

Funds Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .199

Reviewing the Open Invoices Report . . . . . . . . . . . . . . . . . . . . . . . . . .200

Viewing Deposits in the Bank Register . . . . . . . . . . . . . . . . . . . . . . . . .202

Viewing the Deposit Detail Report . . . . . . . . . . . . . . . . . . . . . . . . . . . .203

Fixing Errors with the Undeposited Funds Account . . . . . . . . . . . . . . . . . .205

Clear Up Undeposited Funds Account–New for QuickBooks 2009! . . .205

Removing Old Dated Payments in the Undeposited Funds Account . . .205

Reconciling Your Bank Register with the Bank Statement’s Deposits . . .208

9 Handling Current Asset Accounts Correctly . . . . . . . . . . . . . . . . . . . . . .213

Defining an Other Current Asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .214

Reviewing and Troubleshooting the Other Current Asset Accounts . . . . . .214

Matching Other Current Asset Balances to an Outside Document . . . .215

Creating a Custom Transaction Detail Report . . . . . . . . . . . . . . . . . . .215

Reconciling Other Current Asset Accounts . . . . . . . . . . . . . . . . . . . . . .217

Troubleshooting and Creating Unique Other Current Asset

Account Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .219

Correcting Balance Errors in Your Other Current Asset Accounts . . . . . .219

Deducting Employee Loan Payments from the Employee’s

Payroll Checks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .221

Recording Prepaid Expenses in QuickBooks . . . . . . . . . . . . . . . . . . . . .224

Tracking Customer Retainage in QuickBooks . . . . . . . . . . . . . . . . . . . .225

10 Reviewing and Correcting Inventory Errors . . . . . . . . . . . . . . . . . . . . . .229

Overview of the Accounting for Inventory . . . . . . . . . . . . . . . . . . . . . . . . .230

Preferences That Affect Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .232

Inventory Processes and Forms and Their Effect on Accounting . . . . . . . . .236

Reviewing and Troubleshooting Inventory Balances . . . . . . . . . . . . . . . . . .238

Perform a Physical Inventory Count . . . . . . . . . . . . . . . . . . . . . . . . . . .238

Reconciling the Inventory Valuation Summary Report

with the Balance Sheet Inventory Balance . . . . . . . . . . . . . . . . . . . .239

Reviewing the Recorded Average Cost Valuation . . . . . . . . . . . . . . . . . .242

Reviewing Aged Open Item Receipts . . . . . . . . . . . . . . . . . . . . . . . . . .243

Reviewing Aged Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . .248

Correcting Inventory Errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .250

Creating an Inventory Quantity Adjustment . . . . . . . . . . . . . . . . . . . . .250

Creating an Inventory Value Adjustment . . . . . . . . . . . . . . . . . . . . . . . .251

How QuickBooks Handles Negative Inventory . . . . . . . . . . . . . . . . . . . . . .254

When Inventory Has an Average Cost from Prior

Purchase Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .254

When Inventory Does Not Have a Prior Average Cost . . . . . . . . . . . . .256

11 Reviewing and Correcting Accounts Payable Errors . . . . . . . . . . . . . . . .261

Accounts Payable Forms and Workflow . . . . . . . . . . . . . . . . . . . . . . . . . . .262

Accounts Payable Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .262

Accounts Payable Workflow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .265

Preferences That Affect Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . .268

Accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .269

Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .270

Checking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .271

General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .272

Reminders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .273

Reports and Graphs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .274

Tax:1099 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .274

Reports to Review When Troubleshooting Accounts Payable Errors . . . . . .275

Reconcile Balance Sheet Report Accounts Payable

Balance to A/P Aging Summary Report Total . . . . . . . . . . . . . . . . . .276

Review the Unpaid Bills Detail Report . . . . . . . . . . . . . . . . . . . . . . . . . .278

Reviewing Aged Open Item Receipts . . . . . . . . . . . . . . . . . . . . . . . . . .279

Reviewing Item Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .281

When an Accounts Payable Balance Appears on a Cash

Basis Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .283

Reviewing and Printing Year-End Vendor Tax Forms . . . . . . . . . . . . . . .287

Correcting Accounts Payable Errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .290

When a Vendor Was Paid with a Check . . . . . . . . . . . . . . . . . . . . . . . .290

Misapplied Vendor Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .295

Removing Aged Open Item Receipts or Vendor Bills . . . . . . . . . . . . . . .296

General Journal Adjustments to Accounts Payable . . . . . . . . . . . . . . . .298

Unique Accounts Payable Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . .301

When Your Vendor Is Also Your Customer . . . . . . . . . . . . . . . . . . . . . . .301

Recording Vendor Prepayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .303

Entering Mid-Year 1099 Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . .305

Taking Discounts on Vendor Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . .306

Memorizing Recurring Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . .308

Depositing a Vendor Refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .309

Paying and Recording a Credit Card Bill . . . . . . . . . . . . . . . . . . . . . . . .310

12 Reviewing and Correcting Sales Tax Errors . . . . . . . . . . . . . . . . . . . . . . .313

Preferences That Affect Sales Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .314

Sales Tax Items, Groups, and Codes . . . . . . . . . . . . . . . . . . . . . . . . . . . . .318

Creating and Using Sales Tax Items . . . . . . . . . . . . . . . . . . . . . . . . . . .318

Creating and Using Sales Tax Group Items . . . . . . . . . . . . . . . . . . . . . .319

Creating and Using Sales Tax Codes . . . . . . . . . . . . . . . . . . . . . . . . . . .320

Assigning Sales Tax Codes to Products or Services . . . . . . . . . . . . . . . . . . .322

Assigning Sales Tax Codes and Items to Customers . . . . . . . . . . . . . . . . . .323

Reports to Review When Troubleshooting Sales Tax Errors . . . . . . . . . . . . .324

Reviewing Customer Lists for Tax Code and Tax Item Assigned . . . . . .325

Reviewing the Item List for Tax Code Assigned . . . . . . . . . . . . . . . . . . .326

Reconciling Total Sales to Total Income . . . . . . . . . . . . . . . . . . . . . . . .327

Reconciling Sales Tax Liability to Balance Sheet Sales Tax Payable . . . . .329

When a Check or Bill Form Is Used to Pay Sales Tax . . . . . . . . . . . . . . .330

Properly Paying Sales Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .331

Paying Sales Tax Without an Adjustment . . . . . . . . . . . . . . . . . . . . . . .331

Paying Sales Tax with an Adjustment . . . . . . . . . . . . . . . . . . . . . . . . . .333

Correcting Sales Tax Errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .335

When a Check or Bill Form Was Used to Pay the Sales Tax . . . . . . . . . .335

When the Sales Tax Liability Report Shows Past Sales Tax Due . . . . . . .337

When Total Sales Does Not Equal Total Income . . . . . . . . . . . . . . . . . .340

Unique Sales Tax Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .341

Tracking and Collecting Multiple Sales Tax Rates . . . . . . . . . . . . . . . . .341

When Your State Imposes a Maximum Sales Tax . . . . . . . . . . . . . . . . .341

Multiple Sales Tax Rates on One Invoice . . . . . . . . . . . . . . . . . . . . . . . .343

Issuing Credit Memos When Sales Tax Should Not

Have Been Charged . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .345

13 Reviewing and Correcting the Opening Balance Equity Account . . . . .347

Purpose of the Opening Bal Equity Account . . . . . . . . . . . . . . . . . . . . . . .348

Transactions in the Opening Bal Equity Account . . . . . . . . . . . . . . . . . . . .348

Bank Statement Ending Balance Entered in the EasyStep Interview . . . .350

Opening Balance in the Add New Account Dialog . . . . . . . . . . . . . . . .351

Entering a Total Value for a New Inventory Item . . . . . . . . . . . . . . . . . .354

Bank Reconciliation Adjustments (QuickBooks 2005 or Older) . . . . . . .356

Accrual Basis Startup Records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .357

Reports to Review and Troubleshoot the Opening Bal Equity Account . . . .358

Closing Opening Bal Equity into Retained Earnings . . . . . . . . . . . . . . . . . .360

Setting a Closing Date and Password . . . . . . . . . . . . . . . . . . . . . . . . . . . .363

14 Reviewing and Correcting Payroll Errors . . . . . . . . . . . . . . . . . . . . . . . .365

Payroll Service Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .366

Payroll and Employees Preference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .368

Payroll Forms and Workflow in QuickBooks . . . . . . . . . . . . . . . . . . . . . . . .370

Payroll Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .370

Payroll Workflow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .371

Using the Payroll Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .373

Using the Run Payroll Checkup Diagnostic Tool . . . . . . . . . . . . . . . . . . . .375

Reports to Review When Troubleshooting Payroll . . . . . . . . . . . . . . . . . . .382

Payroll Item Listing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .383

Comparing Payroll Liabilities Balances to the Balance Sheet . . . . . . . . .384

Compare Payroll Summary to Filed Payroll Returns . . . . . . . . . . . . . . . .388

Adjusting Payroll Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .389

Unique Payroll Transactions and Processes . . . . . . . . . . . . . . . . . . . . . . . . .393

Scheduled Payroll and Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .394

Deposit a Refund of Payroll Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . .395

Reprint a Lost Payroll Check . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .396

Setting Up Payroll Mid-Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .398

Paying a Taxable Bonus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .402

Employee Loan Payment and Repayment . . . . . . . . . . . . . . . . . . . . . . .403

Adjusting an Employee Paycheck . . . . . . . . . . . . . . . . . . . . . . . . . . . . .409

15 Sharing Data with Your Accountant or Your Client . . . . . . . . . . . . . . . . .411

Sharing QuickBooks Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .412

Benefits for the Business Owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .412

Benefits for the Accountant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .413

QuickBooks File Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .413

Choosing a Method to Share Data . . . . . . . . . . . . . . . . . . . . . . . . . . . .416

Data Sharing for the Business Owner . . . . . . . . . . . . . . . . . . . . . . . . . . . .418

Reviewing Your QuickBooks Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . .420

Using the Accountant’s Copy Feature . . . . . . . . . . . . . . . . . . . . . . . . . .420

What the Business Owner Can and Cannot Do . . . . . . . . . . . . . . . . . . .425

Importing Your Accountant’s Changes . . . . . . . . . . . . . . . . . . . . . . . . .427

Canceling an Accountant’s Copy . . . . . . . . . . . . . . . . . . . . . . . . . . . . .431

Data Sharing for the Accountant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .432

Creating an External Accountant User Type . . . . . . . . . . . . . . . . . . . . .433

Preparing Your Client for the Data Exchange . . . . . . . . . . . . . . . . . . . .434

Working with an Accountant’s Copy File . . . . . . . . . . . . . . . . . . . . . . . .435

What the Accountant Cannot Do . . . . . . . . . . . . . . . . . . . . . . . . . . . . .442

Returning the Accountant’s Copy Change File to the Client . . . . . . . . .443

What to Request from the Client When the Import Is Complete . . . . . .446

Converting the Accountant’s Copy to a Regular Company File . . . . . . .447

16 Reporting Tips and Tricks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .449

Intuit Statement Writer–New for 2009! . . . . . . . . . . . . . . . . . . . . . . . . . .450

Benefits of Using the Intuit Statement Writer . . . . . . . . . . . . . . . . . . . .451

Functions of the Intuit Statement Writer . . . . . . . . . . . . . . . . . . . . . . . .451

How to Use the Intuit Statement Writer . . . . . . . . . . . . . . . . . . . . . . . .456

Creating Supporting Documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . .472

Company Snapshot–New for 2009! . . . . . . . . . . . . . . . . . . . . . . . . . . . . .478

Income and Expense Trend Graph . . . . . . . . . . . . . . . . . . . . . . . . . . . .479

Reminders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .480

Account Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .480

Customers Who Owe Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .480

Vendors to Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .481

Defaulting the Company Snapshot as Home Page . . . . . . . . . . . . . . . .481

Using the Report Center . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .482

Reporting Preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .484

My Preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .485

Company Preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .485

Modifying Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .488

Modifying Options Available on the Report Window . . . . . . . . . . . . . .488

Modify Report Button . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .489

Report Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .490

Creating Report Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .490

Using Report Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .491

Managing Report Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .493

Memorized Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .494

Exporting and Importing Report Templates . . . . . . . . . . . . . . . . . . . . . . . .495

Exporting a Report or Report Group Template . . . . . . . . . . . . . . . . . . .495

Importing a Report or Report Group Template . . . . . . . . . . . . . . . . . . .496

Exporting Reports to a .CSV File or to Excel . . . . . . . . . . . . . . . . . . . . . . .497

Emailing Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .499

About Financial Statement Designer . . . . . . . . . . . . . . . . . . . . . . . . . . . . .501

17 New for 2009! Detecting and Correcting with the

Client Data Review Feature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .503

Introduction: Features and Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .504

Starting a Client Data Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .506

Customizing the Client Data Review Center . . . . . . . . . . . . . . . . . . . . . . .507

Modifying the Review Date and Basis . . . . . . . . . . . . . . . . . . . . . . . . . .509

Changing the Task Display . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .509

Hiding and Showing Task Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . .511

Assigning Status and Notes to Review Tasks . . . . . . . . . . . . . . . . . . . . .512

Account Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .513

Troubleshooting Account Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . .514

Opening the Working Trial Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . .518

Review List Changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .519

Chart of Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .520

Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .521

Fixed Asset Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .522

Payroll Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .523

Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .524

Vendors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .524

Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .524

Fixing Unapplied Customer Payments and Credits . . . . . . . . . . . . . . . .525

Clearing Up Undeposited Funds Account . . . . . . . . . . . . . . . . . . . . . . .527

Reviewing the AR Aging Detail Report . . . . . . . . . . . . . . . . . . . . . . . . .529

Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .531

Fixing Unapplied Vendors Payments and Credits . . . . . . . . . . . . . . . . .531

Evaluating and Correcting the 1099 Account Mapping . . . . . . . . . . . .533

Reviewing the AP Aging Detail Report . . . . . . . . . . . . . . . . . . . . . . . . .534

Sales Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .534

Finding Incorrectly Paid Sales Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . .535

Adjusting Sales Tax Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .537

Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .538

Adjusting Inventory Quantity/Value on Hand . . . . . . . . . . . . . . . . . . . .539

Payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .542

Finding Incorrectly Paid Payroll Liabilities . . . . . . . . . . . . . . . . . . . . . . .543

Run Payroll Checkup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .545

Reviewing Employee Default Settings . . . . . . . . . . . . . . . . . . . . . . . . . .550

Entering After-The-Fact Payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .551

Bank Reconciliation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .553

Reconciling Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .553

Locating Discrepancies in Bank Reconciliation . . . . . . . . . . . . . . . . . . .554

Reviewing Missing Checks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .556

Miscellaneous . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .556

Setting the Closing Date and Password . . . . . . . . . . . . . . . . . . . . . . . .557

Reviewing Quickbooks Preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . .559

Finishing a Client Data Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .561

Saving the Review as a PDF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .561

Marking Review Complete . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .561

Reopening a Client Data Reviw . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .563

Reporting on Review Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .563

Creating an External Accountant User . . . . . . . . . . . . . . . . . . . . . . . . . . .566

Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .569

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Updates

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InformIT Promotional Mailings & Special Offers

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Privacy Notice

Overview

Pearson Education, Inc., 221 River Street, Hoboken, New Jersey 07030, (Pearson) presents this site to provide information about products and services that can be purchased through this site.

This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site. Please note that other Pearson websites and online products and services have their own separate privacy policies.

Collection and Use of Information

To conduct business and deliver products and services, Pearson collects and uses personal information in several ways in connection with this site, including:

Questions and Inquiries

For inquiries and questions, we collect the inquiry or question, together with name, contact details (email address, phone number and mailing address) and any other additional information voluntarily submitted to us through a Contact Us form or an email. We use this information to address the inquiry and respond to the question.

Online Store

For orders and purchases placed through our online store on this site, we collect order details, name, institution name and address (if applicable), email address, phone number, shipping and billing addresses, credit/debit card information, shipping options and any instructions. We use this information to complete transactions, fulfill orders, communicate with individuals placing orders or visiting the online store, and for related purposes.

Surveys

Pearson may offer opportunities to provide feedback or participate in surveys, including surveys evaluating Pearson products, services or sites. Participation is voluntary. Pearson collects information requested in the survey questions and uses the information to evaluate, support, maintain and improve products, services or sites, develop new products and services, conduct educational research and for other purposes specified in the survey.

Contests and Drawings

Occasionally, we may sponsor a contest or drawing. Participation is optional. Pearson collects name, contact information and other information specified on the entry form for the contest or drawing to conduct the contest or drawing. Pearson may collect additional personal information from the winners of a contest or drawing in order to award the prize and for tax reporting purposes, as required by law.

Newsletters

If you have elected to receive email newsletters or promotional mailings and special offers but want to unsubscribe, simply email information@informit.com.

Service Announcements

On rare occasions it is necessary to send out a strictly service related announcement. For instance, if our service is temporarily suspended for maintenance we might send users an email. Generally, users may not opt-out of these communications, though they can deactivate their account information. However, these communications are not promotional in nature.

Customer Service

We communicate with users on a regular basis to provide requested services and in regard to issues relating to their account we reply via email or phone in accordance with the users' wishes when a user submits their information through our Contact Us form.

Other Collection and Use of Information

Application and System Logs

Pearson automatically collects log data to help ensure the delivery, availability and security of this site. Log data may include technical information about how a user or visitor connected to this site, such as browser type, type of computer/device, operating system, internet service provider and IP address. We use this information for support purposes and to monitor the health of the site, identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents and appropriately scale computing resources.

Web Analytics

Pearson may use third party web trend analytical services, including Google Analytics, to collect visitor information, such as IP addresses, browser types, referring pages, pages visited and time spent on a particular site. While these analytical services collect and report information on an anonymous basis, they may use cookies to gather web trend information. The information gathered may enable Pearson (but not the third party web trend services) to link information with application and system log data. Pearson uses this information for system administration and to identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents, appropriately scale computing resources and otherwise support and deliver this site and its services.

Cookies and Related Technologies

This site uses cookies and similar technologies to personalize content, measure traffic patterns, control security, track use and access of information on this site, and provide interest-based messages and advertising. Users can manage and block the use of cookies through their browser. Disabling or blocking certain cookies may limit the functionality of this site.

Do Not Track

This site currently does not respond to Do Not Track signals.

Security

Pearson uses appropriate physical, administrative and technical security measures to protect personal information from unauthorized access, use and disclosure.

Children

This site is not directed to children under the age of 13.

Marketing

Pearson may send or direct marketing communications to users, provided that

Pearson will not use personal information collected or processed as a K-12 school service provider for the purpose of directed or targeted advertising.
Such marketing is consistent with applicable law and Pearson's legal obligations.
Pearson will not knowingly direct or send marketing communications to an individual who has expressed a preference not to receive marketing.
Where required by applicable law, express or implied consent to marketing exists and has not been withdrawn.

Pearson may provide personal information to a third party service provider on a restricted basis to provide marketing solely on behalf of Pearson or an affiliate or customer for whom Pearson is a service provider. Marketing preferences may be changed at any time.

Correcting/Updating Personal Information

If a user's personally identifiable information changes (such as your postal address or email address), we provide a way to correct or update that user's personal data provided to us. This can be done on the Account page. If a user no longer desires our service and desires to delete his or her account, please contact us at customer-service@informit.com and we will process the deletion of a user's account.

Choice/Opt-out

Users can always make an informed choice as to whether they should proceed with certain services offered by InformIT. If you choose to remove yourself from our mailing list(s) simply visit the following page and uncheck any communication you no longer want to receive: www.informit.com/u.aspx.

Sale of Personal Information

Pearson does not rent or sell personal information in exchange for any payment of money.

While Pearson does not sell personal information, as defined in Nevada law, Nevada residents may email a request for no sale of their personal information to NevadaDesignatedRequest@pearson.com.

Supplemental Privacy Statement for California Residents

California residents should read our Supplemental privacy statement for California residents in conjunction with this Privacy Notice. The Supplemental privacy statement for California residents explains Pearson's commitment to comply with California law and applies to personal information of California residents collected in connection with this site and the Services.

Sharing and Disclosure

Pearson may disclose personal information, as follows:

As required by law.
With the consent of the individual (or their parent, if the individual is a minor)
In response to a subpoena, court order or legal process, to the extent permitted or required by law
To protect the security and safety of individuals, data, assets and systems, consistent with applicable law
In connection the sale, joint venture or other transfer of some or all of its company or assets, subject to the provisions of this Privacy Notice
To investigate or address actual or suspected fraud or other illegal activities
To exercise its legal rights, including enforcement of the Terms of Use for this site or another contract
To affiliated Pearson companies and other companies and organizations who perform work for Pearson and are obligated to protect the privacy of personal information consistent with this Privacy Notice
To a school, organization, company or government agency, where Pearson collects or processes the personal information in a school setting or on behalf of such organization, company or government agency.

Links

This web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every web site that collects Personal Information. This privacy statement applies solely to information collected by this web site.

Requests and Contact

Please contact us about this Privacy Notice or if you have any requests or questions relating to the privacy of your personal information.

Changes to this Privacy Notice

We may revise this Privacy Notice through an updated posting. We will identify the effective date of the revision in the posting. Often, updates are made to provide greater clarity or to comply with changes in regulatory requirements. If the updates involve material changes to the collection, protection, use or disclosure of Personal Information, Pearson will provide notice of the change through a conspicuous notice on this site or other appropriate way. Continued use of the site after the effective date of a posted revision evidences acceptance. Please contact us if you have questions or concerns about the Privacy Notice or any objection to any revisions.

Last Update: November 17, 2020

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