QuickBooks 2014 on Demand

Description

• Copyright 2014
• Dimensions: 7-1/2" x 9-1/8"
• Edition: 1st

• eBook
• ISBN-10: 0-13-355321-3
• ISBN-13: 978-0-13-355321-5

Need answers quickly? QuickBooks 2014 on Demand provides those answers in a visual step-by-step format.

We will show you exactly what to do through lots of full color illustrations and easy-to-follow instructions.

• Numbered Steps guide you through each task
• See Also points you to related information in the book
• Did You Know alerts you to tips and techniques
• Illustrations with matching steps
• Tasks are presented on one or two pages

Inside the Book

• Learn everything you need to know to quickly start using your QuickBooks financial software
• Produce and customize reports that show exactly how your company is doing
• Schedule transactions so you’ll never forget a due date again
• Bill time and expenses directly to customers
• Use the new QuickBooks features for 2014, including Income Tracker, Bank Feeds, and Rules
• Create and use a budget
• Reconcile your bank account to the penny without waiting for the bank statement to come in the mail
• Keep detailed records of fixed asset acquisitions
• Send customized mailings to your customers and vendors
• Learn tips and shortcuts to help make your QuickBooks experience more efficient and to customize your program to fit your style
• Process transactions the right way by following the accounting rules interspersed throughout the book

Includes

• Hundreds of the Most Essential QuickBooks 2014 Tasks
• Workshops
• Easy Setup Procedures
• Reporting Techniques

Visit the authors’ websites:

http://longforsuccess.com

http://www.cpapracticeadvisor.com

Bonus Online Content

Register your book at queondemand.com to gain access to online files such as a video on “Using the Sample Data File.”

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Sample Content

Table of Contents

Introduction    xv

1  Setting Up Your Company Accounts with the EasyStep Interview    1

Introduction    1

Installing QuickBooks    2

Registering QuickBooks    5

Setting Up QuickBooks in a Multiuser Office    6

Transferring Data from Older Versions of QuickBooks    7

Transferring Data from Quicken    9

Practicing with the Sample Company Files    11

Entering Data for a New Company    12

Setting Up a Bank Account    19

Setting Up Income and Expense Accounts    20

Stopping, Restarting, and Completing the Interview    21

2  Setting Up and Using Payroll Features    23

Introduction    23

Setting Payroll and Employee Preferences    24

Setting Up Employees    28

Setting Up Employee Payroll Information    30

Setting Up Employee Payroll Taxes    31

Setting Up Sick and Vacation Benefits    33

Setting Up Payroll Deductions    36

Paying Employees    39

Printing Paychecks    43

Using Direct Deposit    44

Preparing and Paying Payroll Liabilities    46

Creating Employer Payroll Reports    49

Reporting Payroll Taxes with Form    941    51

Paying Federal Unemployment Compensation

Taxes with Form    940    54

Preparing W-2/W-3 Forms    56

Setting Up Independent Contractors for    1099 Forms    59

Setting    1099 Preferences    61

Issuing    1099 Forms    62

Outsourcing Payroll    65

3  Adding or Changing Information After the Initial Company Setup    67

Introduction    67

Setting General Preferences    68

Setting Desktop View Preferences    72

Setting Accounting Preferences    74

Adding Accounts    76

Using Account Numbers    78

Sorting Lists    79

Displaying Lists on Forms    80

Adding Customers    82

Working with the Customer Center    86

Adding Vendors    88

Adding Items    92

Adding Multiple List Entries: Customers, Vendors, or Items    97

Adding Information “On-the-Fly”    98

Moving Items on a List    100

Creating Subitems    101

Editing Information on a List    102

Marking List Items Inactive    103

Deleting Entries on a List    106

Merging Entries on a List    107

Printing Lists    109

Searching for Transactions    110

4  Invoicing and Collecting Income    111

Introduction    111

Setting Customers’

Preferences    112

Creating an Invoice    116

Creating Batch Invoices    117

Previewing or Printing Invoices    121

Emailing an Invoice    123

Charging (or Billing) Expenses to a Customer    127

Setting Finance Charge Preferences    130

Creating a Monthly Statement    131

Receiving Payments for Invoices    133

Issuing a Credit or Refund    134

Recording Cash Sales/Sales Receipts    135

Making Bank Deposits    136

Receiving Advances, Retainers, and Down Payments    137

Issuing Discounts    138

Tracking Accounts Receivable    141

Using the Income Tracker    142

Working with the Customer and Payments Snapshots    143

Viewing the Open Invoices Report    145

Using the Collections Center    146

Creating a Collection Letter    148

Recording Bad Debts    151

Recording Bounced Checks    153

Working with Multiple Currencies    155

5  Making Purchases and Recording Payments    167

Introduction    167

Setting Purchases and Vendors Preferences    168

Working with the Vendor Center    171

Using Purchase Orders    173

Reporting on Open Purchase Orders    177

Receiving Goods    178

Receiving a Partial Order    180

Viewing Aging and Unpaid Bills Reports    182

Paying Bills    183

Taking Discounts    184

Using the Check Register    185

Editing Bill Payments    186

Deleting Bill Payments    188

Setting Checking Preferences    189

Writing Checks    191

Printing Checks    193

Voiding Checks    195

6  Collecting and Paying Sales Tax    199

Introduction    199

Setting Sales Tax Preferences    200

Creating a Sales Tax Item    201

Creating a Sales Tax Group    202

Charging Sales Tax to Customers    203

Entering Tax Status of Inventory Items    204

Selling Tax-Exempt Items    205

Selling Items to Tax-Exempt Customers    206

Producing Monthly Sales Tax Reports    207

Paying Sales Tax    208

Taking a Discount for Early Payment    209

7  Using Time-Saving Features    211

Introduction    211

Memorizing Transactions    212

Memorizing a Group of Transactions    213

Using Memorized Transactions    215

Scheduling Recurring Transactions    216

Changing Memorized and Scheduled Transactions    219

Removing Memorized Transactions    221

Setting Reminders Preferences    222

Using Reminders    224

8  Job Cost Estimating and Tracking    225

Introduction    225

Setting Jobs and Estimate Preferences    226

Setting Up a Job    228

Tracking Job Status and Type    232

Using the Job Type Feature    233

Tracking Other Job Info    234

Working with Estimates    235

Invoicing Against an Estimate    237

Reporting on Job Estimates Versus Actuals    239

9  Tracking Time    241

Introduction    241

Setting Time Tracking Preferences    242

Installing the Timer    243

Exporting Information to the Timer    245

Creating a New Timer File    246

Creating a Timer Activity    248

Using the Timer    249

Sending Timer Data to QuickBooks    250

Importing Timer Data into QuickBooks    252

Viewing Timer Transactions    254

Editing Timer Transactions    255

Invoicing the Customer for Timer Activities    256

10  QuickBooks Tips and Tricks    257

Introduction    257

Setting Spelling Preferences    258

Creating a Budget    259

Preparing Budget Reports    263

Setting Up Classes    266

Using Classes on Sales and Purchase Forms    268

Reporting on Classes    269

Creating Payment Terms    270

Customizing Forms Design    271

Customizing Forms Data    274

Making Journal Entries    278

Using the QuickBooks Remote Access Feature    280

Creating Mailing Labels    281

11  Using Bank Feeds and Online Banking    283

Introduction    283

Choosing Bank Feeds Mode    284

Activating Bank Feeds    286

Retrieving Online Transactions    289

Manually Importing Transactions    290

Quick Add Transactions to QuickBooks    292

Adding More Details to Transactions    294

Batch Adding Transactions    296

Automatically Assigning Names and Accounts    297

Assigning Transactions to Open Vendor Bills    299

Deleting Transactions    300

Making Online Payments    301

Canceling Online Payments    302

Transferring Money Between Accounts    304

Getting Reports of Online Transactions    305

12  Preparing Income Tax Returns    307

Introduction    307

Choosing the Correct Income Tax Form    308

Assigning Tax Lines to New or Existing Accounts    310

Using the Income Tax Reporting    311

Making Estimated Tax Payments    315

Creating a Tax Return    316

13  Data Backup and Security    319

Introduction    319

Backing Up Your QuickBooks Company File    320

Restoring Backed-Up Information    324

Using the QuickBooks Online Backup Service    326

Adding or Editing the Administrator Password    328

Adding New or Editing Existing Users    329

Closing Financial Records at Year-End    333

Creating a Closing Date Exception Report    335

14  Using Inventory Features    337

Introduction    337

Activating Inventory    338

Setting Up Inventory Items    340

Adding to Your Inventory    343

Editing Inventory Items    344

Creating an Inventory Group    346

Managing Sales Orders    348

Setting Up Reminders to Replenish Your Inventory    350

Preparing Inventory Reports    352

Counting Your Inventory    354

Adjusting Inventory Quantities    355

Adjusting the Default Price of Inventory    356

15  Recording Your Assets    359

Introduction    359

Reconciling Your Bank Statement    360

Recording Bank Account Transfers    363

Tracking Petty Cash    364

Receiving Credit Card Payments    365

Recording Deposits as Assets    366

Purchasing Fixed Assets    367

Entering Depreciation    370

Selling Fixed Assets    371

16  Recording Owners’ Equity    373

Introduction    373

Understanding the Opening Balance Equity Account    374

Recording Owners’ Distributions    377

Entering Prior Period Adjustments    379

Viewing Transactions in Retained Earnings Account    380

17  Recording Liabilities    381

Introduction    381

Managing Accounts Payable    383

Recording Payroll Tax Accruals Without a QuickBooks Payroll Subscription    384

Setting Up Credit Card Accounts    385

Accounting for Deposits or Retainers    390

Recording Loans    391

Using the QuickBooks Loan Manager    392

Recording Loan Payments    395

18  Working with Reports in QuickBooks    397

Introduction    397

Looking at the Company Snapshot    398

Using the Report Center    400

Setting Report and Graph Preferences    403

Modifying Reports    406

Creating and Using Report Groups    409

Memorizing Reports    411

Importing and Exporting Report Templates    412

Understanding Sharing and Contributed Reports    414

Learning Other Reporting Tips and Tricks    416

Workshops    419

Introduction    419

Project    1: Creating Your Own Favorites Menu    419

Project    2: Customizing the Company Snapshot    421

Project    3: Using Document Management    423

Project    4: Color-Coding Your Accounts    425

Project    5: Using To Do Notes    426

Project    6: Using the Lead Center    429

Index    433

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Updates

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