QuickBooks 2023 All-in-One For Dummies (For Dummies (Computer/Tech))

Title Page
Copyright Page
Table of Contents
Introduction
	About This Book
	Foolish Assumptions
	Icons Used in This Book
	Beyond the Book
	Where to Go from Here
1 An Accounting Primer
	Chapter 1 Principles of Accounting
		The Purpose of Accounting
			The big picture
			Managers, investors, and entrepreneurs
			External creditors
			Government agencies
			Business form generation
		Reviewing the Common Financial Statements
			The income statement
			Balance sheet
			Statement of cash flows
			Other accounting statements
			Putting it all together
		The Philosophy of Accounting
			Revenue principle
			Expense principle
			Matching principle
			Cost principle
			Objectivity principle
			Continuity assumption
			Unit-of-measure assumption
			Separate-entity assumption
		A Few Words about Tax Accounting
	Chapter 2 Double-Entry Bookkeeping
		The Fiddle-Faddle Method of Accounting
		How Double-Entry Bookkeeping Works
			The accounting model
			Talking mechanics
		Almost a Real-Life Example
			Recording rent expense
			Recording wages expense
			Recording supplies expense
			Recording sales revenue
			Recording cost of goods sold
			Recording the payoff of accounts payable
			Recording the payoff of a loan
			Calculating account balance
			Using T-account analysis results
		A Few Words about How QuickBooks Works
	Chapter 3 Special Accounting Problems
		Working with Accounts Receivable
			Recording a sale
			Recording a payment
			Estimating bad-debt expense
			Removing uncollectible accounts receivable
		Recording Accounts Payable Transactions
			Recording a bill
			Paying a bill
			Taking some other accounts payable pointers
		Inventory Accounting
			Dealing with obsolete inventory
			Disposing of obsolete inventory
			Dealing with inventory shrinkage
		Accounting for Fixed Assets
			Purchasing a fixed asset
			Dealing with depreciation
			Disposing of a fixed asset
		Recognizing Liabilities
			Borrowing money
			Making a loan payment
			Accruing liabilities
		Closing Out Revenue and Expense Accounts
			The traditional close
			The QuickBooks close
		One More Thing . . .
2 Getting Ready to Use QuickBooks
	Chapter 1 Setting Up QuickBooks
		Planning Your New QuickBooks System
			What accounting does
			What accounting systems do
			What QuickBooks does
			And now for the bad news
		Installing QuickBooks
		Dealing with the Presetup Jitters
			Preparing for setup
			Seeing what happens during setup
		Running the QuickBooks Setup Wizard
			Getting the big welcome
			Supplying company information
			Customizing QuickBooks
			Setting your start date
			Reviewing the suggested chart of accounts
			Adding your information to the company file
				Customers, vendors, and employees
				Services and inventory items you sell
				Business bank accounts
		Identifying the Starting Trial Balance
			A simple example to start
			A real-life example to finish
	Chapter 2 Loading the Master File Lists
		Setting Up the Chart of Accounts List
		Setting Up the Item List
		Working with the Price Level List
		Using Sales Tax Codes
		Setting Up a Payroll Item List
		Setting Up Classes
		Setting Up a Customer List
		Setting Up the Vendor List
		Setting Up a Fixed Assets List
		Setting Up a Price Level List
		Setting Up a Billing Rate Level List
		Setting Up Your Employees
		Setting Up an Other Names List
		Setting Up the Profile Lists
	Chapter 3 Fine-Tuning QuickBooks
		Accessing the Preferences Settings
		Setting the Accounting Preferences
			Using account numbers
			Setting general accounting options
		Setting the Bills Preferences
		Setting the Calendar Preferences
		Setting the Checking Preferences
		Changing the Desktop View
		Setting Finance Charge Calculation Rules
		Setting General Preferences
		Controlling Integrated Applications
		Controlling Inventory
		Controlling How Jobs and Estimates Work
		Dealing with Multiple Currencies
		Starting Integrated Payment Processing
		Controlling How Payroll Works
		Telling QuickBooks How Reminders Should Work
		Specifying Reports and Graphs Preferences
		Setting Sales and Customers Preferences
		Specifying How Sales Are Taxed
		Setting the Search Preferences
		Setting the Send Forms Preferences
		Fine-Tuning the Service Connection
		Controlling Spell Checking
		Controlling How 1099 Tax Reporting Works
		Setting Time and Expenses Preferences
3 Bookkeeping Chores
	Chapter 1 Invoicing Customers
		Choosing an Invoice Form
		Customizing an Invoice Form
			Choosing a template to customize
			Reviewing the Additional Customization options
				Specifying header information
				Specifying columns information
				Specifying prog columns information
				Specifying footer information
				Specifying print information
			Moving on to basic customization
				Logo, please
				Color you beautiful
				Fiddle with invoice fonts
				Specifying company and transaction information
			Working with the Layout Designer tool
			Working with the web-based Forms Customization tool
		Invoicing a Customer
		Billing for Time
			Using a weekly time sheet
			Timing single activities
			Including billable time on an invoice
		Printing Invoices
		Emailing Invoices
		Recording Sales Receipts
		Recording Credit Memos
		Receiving Customer Payments
		Assessing Finance Charges
			Setting up finance-charge rules
			Calculating finance charges
		Using Odds and Ends on the Customers Menu
	Chapter 2 Paying Vendors
		Creating a Purchase Order
			Creating a real purchase order
			Using some purchase order tips and tricks
		Recording the Receipt of Items
		Simultaneously Recording the Receipt and the Bill
		Entering a Bill
			If you haven’t previously recorded an item receipt
			If you have previously recorded an item receipt
		Paying Bills
		Reviewing the Other Vendor Menu Commands
			Vendor Center window
			Sales Tax menu commands
			Inventory Activities menu commands
			Print/E-file 1099s commands
			Item List command
	Chapter 3 Tracking Inventory and Items
		Looking at Your Item List
			Using the Item Code column
			Using the Item List window
			Using inventory reports
		Adding Items to the Item List
			Adding an item: Basic steps
			Adding a service item
			Adding an inventory part
			Adding a noninventory part
			Adding an other-charge item
			Adding a subtotal item
			Adding a group item
			Adding a discount item
			Adding a payment item
			Adding a sales tax item
			Setting up a sales tax group
			Adding custom fields to items
		Editing Items
			Adjusting physical counts and inventory values
			Adjusting prices and price levels
			Using the Change Item Prices command
			Using price levels
				Creating a price level
				Using a price level
			Enabling advanced pricing
		Managing Inventory in a Manufacturing Firm
			Handling manufactured inventory the simple way
			Performing inventory accounting in QuickBooks
				Adding inventory assembly items
				Recording manufacture or assembly of items
			Managing multiple inventory locations
	Chapter 4 Managing Cash and Bank Accounts
		Writing Checks
			Recording and printing a check
			Customizing the check form
		Making Bank Deposits
		Transferring Money between Bank Accounts
		Working with the Register
			Recording register transactions
			Using Register window commands and buttons
				The Go To button
				The Print button
				The Edit Transaction button
				The QuickReport button
				The Download Bank Statement button
				The 1-Line check box
				The Sort By list
		Using the Edit Menu Commands
		Reconciling the Bank Account
		Reviewing the Other Banking Commands
			Order Checks & Envelopes command
			Enter Credit Card Charges command
			Bank Feeds command
			Loan Manager command
			Other Names list
	Chapter 5 Paying Employees
		Setting Up Payroll
			Signing up for a payroll service
			Setting up employees
				Providing payroll and tax information
				Providing other employment-related information
			Setting up year-to-date amounts
			Checking your payroll setup data
		Scheduling Payroll Runs
		Paying Employees
		Editing and Voiding Paychecks
		Paying Payroll Liabilities
4 Accounting Chores
	Chapter 1 For Accountants Only
		Working with QuickBooks Journal Entries
			Recording a journal entry
			Reversing a journal entry
			Editing journal entries
		Updating Company Information
		Working with Memorized Transactions
		Reviewing the Accountant and Taxes Reports
		Creating an Accountant’s Copy of the QuickBooks Data File
			Creating an accountant’s copy
			Handling the accountant’s copy manually
			Sending the accountant’s copy electronically
			Using an accountant’s copy
			Reusing an accountant’s copy
			Exporting client changes
			Importing accountant’s changes
			Canceling accountant’s changes
			Troubleshooting accountant’s copy transfers
		Using the Client Data Review Commands
	Chapter 2 Preparing Financial Statements and Reports
		Some Wise Words Up Front
		Producing a Report
		Working with the Report Window
			Working with Report window buttons
				Customize Report
				Comment on Report
				Share Template
				Memorize
				Print
				E-mail
				Excel
				Hide Header
				Collapse
				Refresh
			Using the Report window controls
				Dates, From, and To
				Show Columns
				Sort By
				Report Basis
		Modifying a Report
			Using the Display tab
			Using the Filters tab
			Using the Header/Footer tab
			Formatting fonts and numbers
		Processing Multiple Reports
		A Few Words about Document Retention
	Chapter 3 Preparing a Budget
		Reviewing Common Budgeting Tactics
			Top-line budgeting
			Zero-based budgeting
			Benchmarking
			Putting it all together
		Taking a Practical Approach to Budgeting
		Using the Set Up Budgets Window
			Creating a new budget
			Working with an existing budget
		Managing with a Budget
		Some Wrap-Up Comments on Budgeting
	Chapter 4 Using Activity-Based Costing
		Reviewing Traditional Overhead Allocation
		Understanding How ABC Works
			The ABC product-line income statement
			ABC in a small firm
		Implementing a Simple ABC System
		Seeing How QuickBooks Supports ABC
		Turning On Class Tracking
		Using Classes for ABC
			Setting up your classes
			Classifying revenue amounts
			Classifying expense amounts
			Making after-the-fact classifications
			Producing ABC reports
	Chapter 5 Setting Up Project and Job Costing Systems
		Setting Up a QuickBooks Job
		Tracking Job or Project Costs
		Job Cost Reporting
		Using Job Estimates
		Progress Billing
5 Financial Management
	Chapter 1 Ratio Analysis
		Some Caveats about Ratio Analysis
		Liquidity Ratios
			Current ratio
			Acid-test ratio
		Leverage Ratios
			Debt ratio
			Debt equity ratio
			Times interest earned ratio
			Fixed-charges coverage ratio
		Activity Ratios
			Inventory turnover ratio
			Days of inventory ratio
			Average collection period ratio
			Fixed-asset turnover ratio
			Total-assets turnover ratio
		Profitability Ratios
			Gross margin percentage
			Operating income/sales
			Profit margin percentage
			Return on assets
			Return on equity
	Chapter 2 Economic Value Added Analysis
		Introducing the Logic of EVA
		Seeing EVA in Action
			An example of EVA
			Another example of EVA
		Reviewing Some Important Points about EVA
		Using EVA When Your Business Has Debt
			The first example of the modified EVA formula
			Another EVA with debt example
		Presenting Two Final Pointers
		And Now, a Word to My Critics
	Chapter 3 Capital Budgeting in a Nutshell
		Introducing the Theory of Capital Budgeting
			The big thing is the return
			One little thing is maturity
			Another little thing is risk
			The bottom line
		Calculating the Rate of Return on Capital
			Calculating the investment amount
			Estimating the net cash flows
			Calculating the return
		Measuring Liquidity
		Thinking about Risk
		What Does All This Have to Do with QuickBooks?
6 Business Plans
	Chapter 1 Profit-Volume-Cost Analysis
		Seeing How Profit-Volume-Cost Analysis Works
		Calculating Break-Even Points
		Using Real QuickBooks Data for Profit-Volume-Cost Analysis
			Sales revenue
			Gross margin percentage
			Fixed costs
		Recognizing the Downside of the Profit-Volume-Cost Model
		Using the Profit-Volume-Cost Analysis Workbook
			Collecting your inputs
			Understanding the Break-Even Analysis Forecast
			Understanding the Profit-Volume Forecast
			Looking at the profit-volume-cost charts
	Chapter 2 Creating a Business Plan Forecast
		Reviewing Financial Statements and Ratios
		Using the Business Plan Workbook
		Understanding the Workbook Calculations
			Forecasting inputs
			Balance Sheet
				Cash & Equivalents
				Accounts Receivable
				Inventory
				Other Current Assets
				Total Current Assets
				Plant, Property, & Equipment
				Less: Accumulated Depreciation
				Net Plant, Property, & Equipment
				Other Noncurrent Assets
				Total Assets
				Accounts Payable
				Accrued Expenses
				Other Current Liabilities
				Total Current Liabilities
				Long-Term Liabilities
				Other Noncurrent Liabilities
				Total Noncurrent Liabilities
				Owner Equity
				Total Liabilities and Owner Equity
			Common Size Balance Sheet
			Income Statement
				Sales Revenue
				Less: Cost of Sales
				Gross Margin
				Operating Expenses: Cost Centers 1, 2, and 3
				Total Operating Expenses
				Operating Income
				Interest Income
				Interest Expense
				Net Income (Loss) Before Taxes
				Income Tax Expenses (Savings)
				Net Income (Loss) After Taxes
			Common Size Income Statement
			Cash Flow Statement
				Beginning Cash Balance
				Net Income After Taxes
				Addback of Depreciation
				Accounts Payable Financing
				Accrued Expenses Financing
				Other Current Liabilities Financing
				Long-Term Liabilities Financing
				Other Noncurrent Liabilities Financing
				Accounts Receivable Investments
				Inventory Investments
				Other Current Assets Investments
				Plant, Property, & Equipment Investments
				Other Noncurrent Assets Investments
				Other Owner Equity Changes
				Net Cash Generated (Used)
				Ending Cash Balance
			Financial Ratios Table
				Current Ratio
				Quick Ratio
				Working Capital to Total Assets
				Receivables Turnover
				Inventory Turnover
				Times Interest Earned
				Sales to Operational Assets
				Return on Total Assets
				Return on Equity
				Investment Turnover
				Financial Leverage
		Customizing the Starter Workbook
			Changing the number of periods
			Performing ratio analysis on existing financial statements
			Calculating taxes for a current net loss before taxes
			Combining this workbook with other workbooks
	Chapter 3 Writing a Business Plan
		What the Term “Business Plan” Means
		A Few Words about Strategic Plans
			Cost strategies
			Differentiated products or services strategies
			Focus strategies
		Look, Ma: No Strategy
			Two comments about tactics
			Six final strategy pointers
		A White-Paper Business Plan
		A New-Venture Plan
			Is the new venture’s product or service feasible?
			Does the market want the product or service?
			Can the product or service be profitably sold?
			Is the return on the venture adequate for prospective investors?
			Can existing management run the business?
			Some final thoughts
7 Care and Maintenance
	Chapter 1 Administering QuickBooks
		Keeping Your Data Confidential
			Using Windows security
			Using QuickBooks security
		Using QuickBooks in a Multiuser Environment
			Setting up additional QuickBooks users
				Adding users in QuickBooks Enterprise Solutions
				Adding users in QuickBooks Pro and Premier
			Changing user rights in Enterprise Solutions
			Changing user rights in QuickBooks Pro and Premier
		Using Audit Trails
		Enabling Simultaneous Multiuser Access
		Maintaining Good Accounting Controls
	Chapter 2 Protecting Your Data
		Backing Up the QuickBooks Data File
			Backing-up basics
			What about online backup?
			Some backup tactics
		Restoring a QuickBooks Data File
		Condensing the QuickBooks Company Files
			Cleanup basics
			Some cleanup and archiving strategies
	Chapter 3 Troubleshooting
		Using the QuickBooks Help File and This Book
		Browsing Intuit’s Product-Support Website
		Checking Another Vendor’s Product-Support Website
		Tapping into Intuit’s Online and Expert Communities
		When All Else Fails . . .
8 Appendixes
	Appendix A A Crash Course in Excel
		Starting Excel
		Stopping Excel
		Explaining Excel’s Workbooks
		Putting Text, Numbers, and Formulas in Cells
		Writing Formulas
		Scrolling through Big Workbooks
		Copying and Cutting Cell Contents
			Copying cell contents
			Moving cell contents
			Moving and copying formulas
		Formatting Cell Contents
		Recognizing That Functions Are Simply Formulas
		Saving and Opening Workbooks
			Saving a workbook
			Opening a workbook
		Printing Excel Workbooks
		One Other Thing to Know
	Appendix B Government Web Resources for Businesses
		Bureau of Economic Analysis
			Finding information at the BEA website
			Downloading a BEA publication
			Uncompressing a BEA publication
			Using a BEA publication
		Bureau of Labor Statistics
			Finding information at the BLS website
			Using BLS information
		Census Bureau
			Finding information at the Census Bureau website
			Using the Census Bureau’s publications
			Using the Census Bureau’s search engine
			Using the Census Bureau’s Subjects index
		Securities and Exchange Commission
			Finding information through EDGAR
			Searching the EDGAR database
		Federal Reserve
			Finding information at the Federal Reserve website
			Using the Federal Reserve website’s information
		Government Publishing Office
			Information available at the GPO website
			Searching the GPO database
		Internal Revenue Service
	Appendix C Glossary of Accounting and Financial Terms
Index
EULA