QuickBooks Pro 2018 Profit and Loss will cover the generation of a profit ans loss report and discussion of what a profit and loss report is and how to read it. The profit and loss report is one of the main financial reports but can be confuting because this report is often called an income statement. Understanding terminology used by QuickBooks 2018 is key to using the accounting software well.
Posts in the Financial Accounting category:
QuickBooks Pro 2018 Remove Date Time From Reports
QuickBooks Pro 2018 Remove Date Time From Reports will cover the customizing of QuickBOoks 2018 forms by removing the date prepare and time prepared from the reports. We will start may generating reports within QuickBooks 2018. We will then customize the reports, go to the header and footer tab, and remove check for date prepared and time prepared.
QuickBooks Pro 2018 Remove Date Time From Reports
QuickBooks Pro 2018 Remove Date Time From Reports will cover the customizing of QuickBOoks 2018 forms by removing the date prepare and time prepared from the reports. We will start may generating reports within QuickBooks 2018. We will then customize the reports, go to the header and footer tab, and remove check for date prepared and time prepared.
QuickBooks Pro 2018 Home Page – Company Section
QuickBooks Pro 2018 Home Page – Company Section covers the company section portion of the QuickBooks 2018 home page. The home page is a great tool QuickBooks 2018 provides because it shows a visual navigation of the accounting processes. The company section will show very important general item like the chart of accounts and lists. These item can be found in other locations but it is nice to have them on the home page. The chart of account is critical to setting up the QuickBooks 2018 data file and lists are a key component that drives the day to day data input into the accounting system.
QuickBooks Pro 2018 Home Page – Banking Section
QuickBooks Pro 2018 Home Page – Banking Section will cover the functions found in the banking section of the QuickBooks 2018 home page. The QuickBooks 2018 home page is a great tool because it helps to navigate around the accounting software. The banking section of the accounting software’s home page shows the key components to the banking process including entering a deposit and writing checks. We can also find these item in other areas of the accounting software but it is convenient to have them on the home page.
QuickBooks Pro 2018 Home Page – Customer Section
QuickBooks Pro 2018 Home Page – Customer Section covers the customer section of the account software’s home page. The home page is a great tool that QuickBook Pro 2018 provides because it give a visual of the content We will look at the customer section, which can also be though of as the accounts receivable cycle or the sales cycle. The customer section of the QuickBooks 2018 homepage starts out with an invoice. The invoice is the document that tells QuickBooks 2018 when to recognize revenue. When entering an invoice QuickBooks will increase revenue and increase accounts receivable. The second icon in QuickBooks 2018’s home page is the receive payment icon. This icon is used to report to the accounting software that payment has been received. When using this icon QuickBooks will usually decrease the accounts receivable for the amount received and increase an account called undeposited funds. The next icon, which is outside the customer section, but still indicated as part of the accounts receivable cycle, is the record deposit icon. This icon will record the increase in the checking account and will record the decrease to undeposited funds.
QuickBooks Pro 2018 Home Page – Vendors Section
QuickBooks Pro 2018 Home Page – Vendors Section will discuss the contents of the home page vendor section in the accounting software. The QuickBooks 2018 home page is a great tool, providing a visual by process. We will focus on the vendor, or payable process. The vendor section of the QuickBOoks 2018 home page may differ depending the the type of company selected. In other words, we may have set the data using QuickBooks 2018 service type company or merchandising type company. When using a merchandising type company QuickBOoks 2018 add a few more items to the vendor section dealing with the reporting and tracking of inventory. The standard forms on the QuickBooks 2018 vendor section are to create a bill and pay a bill. When we create a bill in QuickBooks 2018 the accounting software will increase accounts payable and the related expense or asset. When we select QUicKbooks 2018 pay bill option we can check off the bills needing payment.
QuickBooks Pro 2018 Restore Backup File
QuickBooks Pro 2018 Restore Backup File will cover the restoration process of a backup file. Understanding how to restore a QuickBooks 2018 backup file is important so that we have security that we can retrieve our data. We will restore a QuickBooks 2018 backup file to a QuickBooks 2018 version of software. It is important to not that we can generally update an older version of a backup file to a never version of the accounting software but we cannot generally open a newer version of a backup file on an older version of QUickBOoks software. In other words we can open a 2017 QuickBooks backup file in QuickBOoks 2018 software but we cannot open a QuickBooks 2018 backup file on QuickBOoks 2017 software.
QuickBooks Pro 2018 Budgeted Balance Sheet
QuickBooks Pro 2018 Budgeted Balance Sheet will cover the creation of a budgeted balance sheet in the accounting software. When thinking about a budget we often think of an income statement format because this is the timing statements, the performance statement. We created a budgeted income statement in a prior presentation. We will new generate a budgeted balance sheet in the accounting software. The balance sheet is reporting where a company stands as of a point in time. We will input a budged into QuickBooks 2018 as of March 2021. The balance sheet is reporting where we will be after the process of the income statement has happened.
QuickBooks Pro 2018 Deposit – New release
QuickBooks Pro 2018 – New Version – deposit will cover making a deposit in the accounting software and will discuss how the accounting software links the receive payment icon to the deposit icon. We will look at the home tab as a guide to the process. QuickBooks Pro 2018 uses the receive payment icon to record the increase in cash, but not an usually an increase to the checking account. When selecting the receive payment icon in QUickBoks Pro 2018 the accounting software will increase undeposited funds and decrease accounts receivable. When the deposit icon is then selected in the accounting software a window will pop up, showing the undeposited items, items we can select for deposit. When selected and recorded QuickBooks Pro 2018 will increase the checking account amount and decrease the undeposited amount Playlist https://www.youtube.com/watch?v=kScOt.