Computerized Accounting with QuickBooks 2018

601 Pages·2019·136.486 MB·English

by  James B. Rosa, Kathleen Villani

PARADIGM
EDUCATION SOlUT10NS
COMPUTERIZED ACCOUNTING WITH
COMPUTERIZED ACCOUNTING WITH
I
I
I
t
James B. Rosa, CPA
Kathleen Villani, CPA
Queensborough Community College
Queensborough Community College
PARADIGM
EDUCATION SOLUTIONS
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28 27 26 25 24 23 22 21 20 2 3 4 5 6 7 8 9 10 11
BriefC ontents
Chapte1r QulckBook2s0 18 • • • • • • • • • • . • • . . . . . . . . . . . • . . . 1
Chapte2r Vendors• • • • • • • • • • • • • • • • . • . • . . . . • . . . . . . • . . . 29
Chapte3r Customers• • • • • • • • • • • . . . . . . . . • . . . . . . . . . . . . . 71
Chapte4r Period-EnPd rocedures. • . • . . • . . . . . . . . . . . . . . . 109
Chapter5 Inventory • • • • • • • • . • • • . . . . . . . . . . . . . . . . . . . . . 145
Chapter6 NewC ompanyS etup-DetailedS tart .......... 189
Chapter7 NewC ompanyS etup-ExpressS tart .......... 267
Chapter8 PayrolSl etup . . . • . . • • . . . . . . . . . . . . . . . . . . . . . . 327
Chapte9r PayrollP rocessing. • • • . . . . . . . . . . . . . . . . . . . . . 359
Chapter1 O Banking • • • • • . . . • • • • • • . . . • . • . . . . . . . . . . . . . . 397
Chapter1 1 Jobsa ndT imeT racking• • • • • . • • . . . . . . . . . . . . . 433
Chapter1 2 Customizatioonf YourC ompanFy ile. .•..•.•.•. 477
AppendiceAs -K • . • • • • • . • . • • . . . . • • . . . . . . . . . . . . . . . . . . . . 531
Index •••••••••••••••••••••••••••••••••••••. • • • • • • • • · 577
I
Contentsj Ill
I
Chapter Review and Assessment ........... 102 Recording a Purchase and Receipt
Procedure Review ..................... 102 of an Inventory Item for Cash .......... 157
Kcy Concepts .... ............. .. ...... 103 Sales Tax ............................... 159
Procecltire Check ....................... 104 Sale of Inventory ......................... 159
Case Problems ........ ... ............. 104 Inventory Sales on Account in the
Create Invoices Window .............. 159
Chapter 4 Pcdod-End Procedures
Recording a Sale of an Inventory Item
Making· GC'nC'raJJou rna l Enu;es . . ..... 109 on Account ......................... 160
Q11ickBooks versus Manu al Accounrjng: Inventory Sales for Cash in the
C,c11cral. Journ al Entri es ............... 110 Enter Sales Receipt Window ........... 162
or
The Chart AccounLs List . . ..... ........ l 1 l Recording a Sale of an Inventory Item
Addi11g ·m J\cco11nt ................. .. . 115 for Cash ............................ 162
Dcleti11g a11A cco unt. ....... . ... .... . ... 118 Sales Discounts ........................ 165
Ldit.ing ;in Account .................... 119 The Adjust Quantity /Value on
Tlic Trial Br1la11cc ....................... 121 Hand Window ....................... 167
The Make Gc11cral.Journ al Entries The Pay Sales Tax Window ................ 170
Wi11dow .... .... .. ........ . . ........ 121 Make Deposits .......................... 171
Pcriocl-b 1cl \cco 11111.gi nRepo rts a11cl Inventory Reports, Accounting Reports,
Fi11a11ci;ISI t,1terne11ts . .... ............ 125 and Financial Statements .............. 171
\ iewi11g a11clP rintin g Accountjn g Viewing and Printing Inventory Reports
Repo rts ............................ 125 from tl1e Reports Menu ............... 171
.Jou ma/ Report ........ ...... ... . ..... 125 Invent ory Valuation Detail Report ........ 17 2
Ge11eml Ledger Repo rt ..... . .. . ........ 127 Invent ory Stock Status by Item Report ...... 172
:\rUusffd Trial Bala/Ire Report ........ .. . 128 Purchases by Item Detail Report .......... 173
\ i('\\"ing and Pri11ti11gF inauci ·d Viewing and Printing Inventory Reports
S1a1e11e1n 1s ........ .. . ............... 132 from the Lists Menu .................. 174
Profit & Loss Sln/ldrml Report. Viewing and Printing Accounting
(Income S1are11c111)1 ................ 132 Reports and Financial Statements ....... 175
13nln/lcP Shtel Stn11dmd Repo rt .. ... ..... 133 Exiting QuickBooks ...................... 178
Registers ...... ......................... 135 Chapter Review and Assessment ........... 179
E:\iu11g Quick.Books .. ................. ... 137 Procedure Review ..................... 179
Cl1:1pter R.e,-iew and \ssessm e111 ........... 138 Key Concepts ......................... 181
Procedure Review ..................... 138 Procedure Check ...................... 182
h. c. ~· Concep ts ......................... 140 Case Problems ........................ 182
Proced ure Check ............. . ........ l 40
Chapter 6 New Company Setup
Case Probl ems ........................ 141
Detaile d Start
Chapter 5 Inventory
EasyStep Interview and QuickB ooks
R<·c<'idng and Selling lte1ns Processing
Desktop Setup . .. .. . . . ........... . . 189
Sah·., l)is,(·ounts . Adju~ting Quantity /
QuickBooks versus Manual Accounting:
Yalu(' on f land, and Paying Sales Tax .. . 145 New Company Setup ................. 190
Quic k.Books Ye1--uss Manual Accounting:
Detailed Start and EasyStep
I,wentorv lransactions ................ 146 Interview Window ................... . 192
Accounun g for Jmentorv Transactions ...... 147
QuickBooks Desktop Setup Window ........ 198
Th hem List .. .... ... . ................. 147 Setting Up the Customer Center ......... 198
Adding an ILem ....................... 149 Setting Up the Vendor Center ........... 201
Deleu ng an Item ...................... 151
Adding to tl1e Item List ................. 205
Ediung an Item ....................... 152
Reviewing EasyStep Interview and
lrwentory Cente r ...................... 153
QuickBooks Desktop Setup
Purchasing Inventory .................... 154 Information ......................... 207
Recording Inventory Purchases Chart of Accounts List .................. 207
Using the Enter Bills Window .......... 154 Item List . . . . . . . . . . . . . . . . . ............ 208
Recording a Purchase and Receipt Customer Center ...................... 210
of an Inventory Item on Account ....... 156 Vendor Center ........................ 212
Recording Inventory Purchases Journal Report ......................... 213
Using the Write Checks Window ....... 157 Trial Balance .......................... 215
vi Contents
,
Profit& LossS tandanl Customizin g th . New Compan Fil ........ 28 l
(Income Statement) Report ....... . ... 216 Customizing System Default ounts .. . .. 282
BalanuS hm StandanRl eport ............ 217 Customizing S tern Default cc.'0\111
Customizing the New Company Ftle ........ 218 Created in a New Comp any l•ile and
Customizing the Chart of Accounts List ... 218 Company Preference ..... ...... .. . 282
Adding Account Numbers ............. 219 Hiding Inactive System Default
Editing Account Numbers Accounts Created in a cw
~
and NaJ11es ........................ 220 Compan y File ...... ... ... .... . ... . 283
-
Deleting an Account ................. 221 Cu tomizin S ·tem Default ccounts
Customizing System Default Accounts ..... 222 Created for se in c:tivit:it·s
-
Customizing System Default Accounts Windows ... .. .... . . .. . . . .. .... .. . . 28
Created in a New Company File ...... 223 Customi zing Payment Tt·nn , ..... . .. . ... 'l.87
Customizing System Default Accounts Upd ating Lists and Centers . . . ..... . .. . . .. 2H9
t Created for Use in Activities Upd ating the Item List . . .. . ... . .. . ..... 289
Windows .......... . ............... 224 Updatin g the Cll't omcr Cc11t<:r: ... . ...... ~91
Customizing Payment Terms ............ 228 Upd ating the Vendor Center ........... . 2~)4
t
Updating Lists/Centers .................. 230 Interim Review of New Comp au Setup . .... 'l.9(,
Updating the Chart of Accounts List ...... 231 Journal Report. ... .. . .... . . . . . ... ....... 2~)b
t Updating the Item List ................. 233 Profit & Loss Standmd
Updating the Customer Center (lncome tatement.) Report . . . ........ 2m~
and Vendor Center ................... 236 Balance Sheet Standard Rcpon ... .. ....... 2~>8
t
Adjusting for the Accrual Basis Adjusting for the Accrual Basis
. A .
of Accounting ....................... 236 o f ccountm g . ... .. ............... .. (LJ (.•) q
t Completing New Company Setup Using Compl eting the New Cornpan Sf·t11p
the Accrual Basis of Accounting ........ 236 Using the Accrnal Basi. of
-
Entering Opening Balances ............. 237 A ccoun t.m g . . . . . . . ... . .. ... ......... 2(.) <. )
Entering Open Balance. . ... . ......... .. ~00
Reversing the Uncategorized
Income Account ..................... 239 Reversing the Uncatego rizt·d
[ii Reversing the Uncategorized Incom e Account ...... . . .. . ..... . . . .. '·.Hl'.-~
Expenses Account ............... . ... 240 Reversing U ncategor iz d
Expense· Account .. .. . . .. ... . .. ..... 304
Accounting Reports and
'
Financial Statements ................ . 241 Accountin g Repor ts and
Financial Statements . .. ..... . .. .... . . 30.S
Accounting Reports .................... 241
i Journal report ....................... 241 Accounting Report s .. . . . .... . ... . .. .. .. 30!1
Journal Report. . ... . .. ... . ........... . 305
Trial BalanceR eport ............. . .... 242
Trial Balance Report ........ . .. ..... . . 306
Financial Statements ................... 244
Financial Statements .... ..... . .. . ... . .. 307
Backing Up the New Company File ......... 245
Hybrid Method of New Comp any Set.up
Chapter Review and Assessment ........... 246
and QuickBooks Desktop Setup
Procedure Review ..................... 246
Window ................... . . .. . . . . . 308
Key Concepts ......................... 251
Backing Up the New Compan y File ...... . . . 309
Procedure Check ...................... 251
Chapter Review and Assessment ........ ... ~J 0
Case Problems .................. . ..... 252
Procedure Review .................... . 310
Chapter 7 New Company Setup Key Concepts ................. . .... .. . 314
Procedure Check .................... . . 315
Express Start
Case Problems ........................ 315
Setting Up Company Preferences ...... 267
QuickBooks versus Manual Accounting: Chapter 8 Payroll Setup
New Company Setup ................. 268 Customizing Payroll Setup ............ 327
Express Start ..................... · . · · · · · · 270
QuickBooks versus Manual Accounting:
Company File Password .................. 272
Payroll ........................ · · . · . 328
:&tablishing Preferences .................. 27 4
Payroll Definitions and Terms ............. 329
Account Numbers .................... · 274 Employee Payroll Information ........... 329
Inventory .............•. · · · · · · · · · · · · · · 275 Gross Pay . .................. · · · · · · · · · · 329
Sales Tax .............. · · · · · · · · · · · · · · · 275 FICA Tax (Social Security)
, Payroll . . . . . . . . . . . . . . , · · · · · ·: · · · · · · · · · 277 and Medicare Tax .................. , . 330
Updating the Chart of Accounts List ........ 278 Federal Income Tax (FIT) .............. 330
Contents vii
S1aLeI ncome Tax (SJT) ................. 330 Accounting Reports and
Feder al Unemploym ent Financial Statements ................. 384
Tax Act (FUTA) ..................... 330 Exiting QuickBooks ...................... 386
St.ale Unemployme11t Insuran ce (SUI) .... 330 Chapter Review and Assessment ........... 387
S1a1e Disability Jnsura,i ce (SDJ) . ......... 330 Procedure Review ..................... 387
C.0111µauyD e<luctions .................. 331 Key Concepts ................ . ........ 388
Net Pay ... ............. .. ............ 331 Procedure Check ...................... 389
United SLaLccTl reasury ............. .. .. 331 Case Problems ........................ 389
Payroll Sctup- -Act.ivate
Chapter 10 Banking
Iii<:' Payroll Feature ... . . . ............. 331
Upcla1j1g1 the Chart of Acco1111tLs ist Transfer ring Funds, Reconciling
for Payroll . ........... . ........ . .... 332 Accounts, and Entering Credit
Custom izc the Payroll System Card Charges ..... . . . . ....... . ..... 397
Der~, II Ii Acco111IS1 .. . ...... ........... 333 QuickBooks versus Manual Accounting:
Adding Payroll Accounls ...... .. ........ 333
Banking ........................ .. .. 398
Using Q11ciWooks Payroll Se,vices versus
Transfer Funds ........................ 399
C:tln 1b1ti1g1 Payroll Mo11tliyl ....... .... 335
Bank Reconciliation .................... 399
TIie Payroll Item List . .... . ... . ... ... ..... 337
Credit Card Charges ................... 400
C:usto111ziing tlic Payroll hclll List ..... . .... 339 Updating the Chart of Accounts List ........ 400
Updating tlic Payroll Item List ............. 343 The Transfer Funds Window .............. 402
Adding Salary and Wage Payroll Item ... 344
c1 The Reconcile Windows .................. 404
Addin g a Pa~1roll Will1h0Idi11g The Enter Credit Card Charges Window .... 415
P;1vroll ltc111. ........................ 347
Enteiing a Credit Card Charge .......... 416
P;1:·rnll Reports .. ..... . .. .... ...... .. .. . . 350
Paying a Credit Card Charge ............ 418
Exiting Quick.Books ...................... 350 Ba.nking Reports , Accounting Reports,
Cktptcr Review Assessment ........... 351
;111cl and Financial Statements .............. 419
Proced ure Review ... ... .. ..... . . .. .... 351 Ban king Reports from
h.c:· Co11ccpts . ........................ 353 the Reports Menu .................... 419
Procccl111-c· Check .... ........ . ... . ..... 353 Deposit Detail Report .................. 419
Cas<:'P rohle1lls . ....................... 354
Missing ChecksR eport ................. 420
Banking Reports from the Lists Menu ..... 421
( :hapt er 9 Payroll Processing
Accounting Reports and
Pa~ in~ Fmploy('(' S, Paying Payroll Financial Statements ................. 422
Liabilities, and P1·oc(.>ssing Transaction Detail by Account Report ..... 422
Pa, roll Form., .... ............. . . . .. 359 journal Report and
Quick.Books \·ersus Manua.l Accounting: Financial Statements ................ 423
Pa\Toll Transactions ...... . ........... 360 Exiting QuickBooks ...................... 426
Accou11Lign for Payroll Transactions ........ 361 Chapter Review and Assessment ........... 427
The [mp lo:ee Center .... . ............... 362 Procedure Review ..................... 427
1
The Pay Emp loyees \,Vindows .............. 369 Key Concepts ......................... 428
Paying an Emplo ee . . .................. 371 Procedure Check ...................... 429
Correcting an Error in a Pa)check ........ 374 Case Problems ........................ 429
lclit.oi uaJ Payroll Journal Ent.lies ........ 376
Chapter 11 Jobs and Time Tracking
Th Pav Liabilities \i\ indow ..... .......... 376
Payroll R ports , Accounting Reports, Recording Job Income and Job Payroll
and Financial Statements .............. 380 Expenses; Tracking Time for Employees
Payroll Management Reports ............ 380 and Jobs; and Creating Customer
Payroll Swmna:ry Repo rt ............... 380 Statetnents ........................ 433
Pcz)r oll Liability Balances Report ......... 381
QuickBooks versus Manual Accounting:
Payroll Transaction Detail Report ......... 381
Jobs and Time Tracking ............... 434
EmployeeS tate TaxesD etail Report ........ 383
The Customer Center .................... 435
Payroll Go emment Compliance The Item List ........................... 439
Report5 .............. . ............. 383
Allocating Payroll Expenses to a Job ........ 440
Form 941 ........................... 383 Creating an Invoice for a Job .............. 444
Fonn 940 .. . .............. . ........ . 384 The Weekly Timesheet Window ............ 44 7
Forrn W-2 ........................... 384
Paying an Employee and Allocating
Payroll Expenses to a Job .............. 452
viii -Contents
I - -----
Creating an Invoice with Tune Tracking ..... 454
Set Cl ing D t ....... .. ... . . . .. .... . . r: 16
Creating a Customer Statement ............ 457
New F'tscalY ear ......... . .. .. .. . .. ... .. 518
• Job and Tune-Tracking Reports,
Exiting QuickBooks .. . .... .... . .. .. .. ... . 519
Accounting Reports,
Chapter Review and t .. .. . . . ... . 520
A.11!11,M.11me n
and Fmancial Statements .............. 459
• Proc dure Review ......... . .... . ... . . . :,20
Job and Tlille-TrackingR eports .......... 459
KeyC one pts ..... .. ...... ..... . .... .. :1'l.7
Profit& Lossb yj ob Report ............. 459
Procedure Check .. . .... .. .. .... . .. .... r,'l.7
• Timeb yj ob SummaryR eport ............ 460
Case Problems . .... . .... . . .. . . .. . . . . .. 52H
Accounting Reports and
Fmancial Statements ................. 460 App nclic s . . ..... . ... . .... . . . 531
•
Reconciliation of Data to Reports .......... 464
Appencli Op en or Restore
Exiting QuickBooks ...................... 464
:n
a Compan y File ... .. .. . . . .... .. . ..
• Chapter Review and Assessment ........... 465
Appendix B Manual ccountin g
Procedure Review ..................... 465
versu QuickBooks .... .. ... .. . .... 5:~ l
Key Concepts ......................... 468
•
Appendix C Journal Repo rt Types ..... 5:G
Procedure Check ...................... 468
Appendix D Purcha e Orders . ... . . . .. 5'{.(,
Case Problems .. . ..................... 469
• Creating a Purchase Ord er
Chapter 12 Customization of Your for Inventor y Item· . ... ... .. ........ . .r,:1(i
Company File Recording Receipt of Inventor
•
on Purch ase Ord er . . .. .. . . .. ......... :'J:7i
Customizing the Desktop, Invoices,
Appendix E Custorner Credit ~
Letters, Memorized Transactions,
and Bad Debt Write-offs .......... . 5:{9
Graphs, and Fiscal Year .............. 4 77
Record a Sak of In ent0t)' 0 11 l\cro unt ..... .S1'.D
Customize the Desktop ... . ............... 47 8
Record a Customer Credit i11 the Cr<:'tac
Home Page ........................... 478
Credit Memo·/ Refund Window ........ 5'10
Using the Home Page ................ 478
lnvento.ry Valuatjon Detail Rcporr .. . ....... S '1.
Customize the Home Page ............ 480
Record the Write-<f>f of an l\ccoun ts
'
Changing the Default
Receivable (Bad Oebt) . . . . . ..... . ..... :1 .
~
for the Home Page ......... . ....... 481
Customer Balance Detail Report and
Icon Bars ............................. 482
Profit & Loss Standard Report . . . ...... :,45
Left Icon Bar ........................ 482
Appendix F New Compan y
Top Icon Bar ........................ 485
Setup Methods . . . .. . . . ........ . . . 546
Customize Subaccounts Presentation ....... 485
Appendix G QuickBook s
Chart of Accounts List Window
• Payroll Setup Window . . . .......... 548
Presentation ........................ 486
Lists and Activities Windows QuickBooks Payroll Setup Window . . . ... . .. 548
Payroll Item List ... . .. . ...... . ... .. .... .. 561
• Presentation ........................ 487
Payroll Item Listing Report .. .. ... .. ... . . . f>62
Merge Entries ......................... . . 489
Create Custom Field ..................... 490 Appendix H Sick and Vacation _
•
Customize Activities Windows Paid Time ...... . . . . .. . . . . . . . . ... :>63
and Printed Documents ............... 492 Process Payroll ............... . ....... ... 563
• QuickBooks Letters ...................... 500 Using Banked Vacation Time Off Hours . . .. 564
Memorized Transactions .................. 50 I Using Banked Sick Time Off Hours .. . .... . 565
Customize the Appearance of Reports ...... 502 Tracking Paid Time Off ... . ....... . ... . .. 567
Customize Report Button ............... 503 Appendix I Setting Up QuickBooks
Modify Report-Display Tab ........... 503 for Multiple Users ............. , .. 568
• Modify Report-Header /Footer Tab .... 504 Install QuickBooks ....................... 568
Memorize Button ...................... 506 Set Up Multiple-User Access ............... 569
Collapse/Expand Button ............... 507 Scan Company Files for Multi-User Access ... 570
Share Template Button ................. 508 Accessing the Company File in r.:
Excel Button ................. · . · · · · · · · 508 Multi-User Mode .................. · · · 070
• Process Multiple Reports ............. · .. · 511 Appendixj Setting Up Users ...... ·. ... 571
Set Default Settings in Reports ............. 512 Appendix K Accrual Basis of Ac_countmg
Graphs ................................ 513
versus Cash Basis of Accounting ..... 573
FISCalY ear . . . . · · · · · · · · · · · · · · · · · · · 514
Fucal y~.Q~g ..................... 515 577
Index ...... · · · · · · · · · · · · · · · · · ·
I
Contents Ix
Preface
unnputeri:uAdcc ounting with QuickBooks®2 018 teache student how to use
QuickBooks, one of the most popular general ledger softwan· packages
for small- and medium-siz ed busin esses. With thi program. b11si1Hs·scs ran
maintain a general ledger; track vend or, customer, and inventor , activi
ties; process payroll for company employee·; prepa re hank nT011cilia1iorn~;
track time for employ ees and jobs; and complet e other kc acn H111ti1g1 pro
cedures. In addition to learnin g how lo use Qui<.k'Books, studc·.n:ts re icw
the related accounting concepts as applied in the software.
QuickBooks®2 018 provid es students with detail ·d instnK tio11a ud cxtc u
sive practice for learning how to use thi · popular software. 'lb ge l the
most out of this textbook, students should be familiar with hasic acco u111-
ing principles and practic es. Students also should be familiar with using
a personal computer and und erstand basic Windows tC'rminology. vVlwr<'
knowledge of specific Window s procedur e enhance the: opera tion of
QuickBooks, those procedur es are explained. For eff ~cti e use of this
book, the chapter problems and case problems must b(' performe d on ·,
computer with QuickBooks 2018 software in tailed it.
0 11
Course Objectives
•
A course that uses QuickBooks®2 018 has two main objectives for students.
The first objective is to know how to operate QuickBooks by cnlcring
common daily business transactions in the appr opriate activity windows
using sample company data. The second objective is to identify the behind
the-scenes accounting that QuickBooks is recording. This second ol'?jeni ve
is accomplished by reviewing the und erlying accountin g concepts through
both narrative explanation and T-account illustration s. In t.he workplace, the
better you understand the actual flow of the activity as it is record d in the
system, the more effective you will be in operating the software accurately
and efficiently.
After completing a course that uses QuickBook®s2 018, you should be
able to do the following:
• Understand differences and similarities between a manual accountin g
system and QuickBooks
• Identify and execute the four levels of operation within QuickBooks:
New Company Setup, Lists/Centers, Activities, and Reports
• Set up and maintain the Vendor, Customer, and Employee Centers
and the Chart of Accounts, Items, and Payroll Item Lists
• Enter daily activities as appropriate in the Enter Bills, Pay Bills, Write
Checks, Create Invoices, Receive Payments, Enter Sales Receipts,
Make Deposits, Pay Sales Tax, Adjust Quantity /Value on Hand, Create
Purchase Orders, Pay Employees, and Pay Liabilities windows
xi
• Set up and customize a new company file using the Detailed Start and
Expn:.ss Start methods, with and without the QuickBooks Desktop
Setup window
• Set up and process payroll
• Transfer funds between accounts, record and pay credit card charges,
and prcpa, e a bank reconciliation
• Record n .venues and expenses by job, with and without the Time
Tracking feature
• View and print management reports, accounting reports, and finan
cial stat em en ts
• Customize the desktop , Lists, Activities windows, and Reports
Instructional Desi n
QuickBooks 2018 teaches you how to use the QuickBooks 2018 software by
integrating use of the textbook and your QuickBooks Accountant Desktop
2018 acco unt.
Textbook Organization
Thi s text is orga11zied to follow the four levels of operation in QuickBooks:
New Comp any Setup , Lists/Ce nters, Activities, and Reports. As each level
or
operation is presented in the chapt ers, it is denoted with the appropri
ate margin icon shown at the left.
)ou will learn the New Con1pany Setup 1nore effectively if you under
stand the basic operations of the Qui ckBooks software. Therefore, Chap
1-5 present. how to use Qui ckBooks following a normal business flow.
t(T S
Arter the basic software operations are mastered in Chapters 1-5, the
New .ompany Set.up level of operation is explained in Chapters 6 and 7.
Chap ters 8 and 9 discuss the setup and processing of payroll transactions.
Throughout these chapters, you will view and print many management and
acco untin g reports and financial staten1ents. Upon successful completion
of Chapters 1-9, you will have a thorough understanding of the four levels
of operation in Qui ckBooks. Chapters 10-12 discuss banking,jobs account
ing, time tracking , and customization features . The topics presented in
each chapter build on the topi cs covered in previous chapters.
QuickBooks Accountant Desktop 2018 Software
QuickBooks®2 018 con1es with free, five-month access to QuickBooks
Account.an t Desktop 2018 sofware. The reports you create using the soft
ware are the best measuren1ent for comprehension and execution of the
pro cedur es and concepts covered in this textbook. Building your own com
pany file and completing the daily, monthly, and yearly accounting tasks
will help ensure that you have experience co1npleting essential accounting
tasks using QuickBooks 2018.
xii Preface