account Archives - Page 9 of 10 - Accounting Instruction, Help, & How To (Financial & Managerial)

Short Term Loan Adjusting Entry 10.10

Written by Bob Steele CPA - Accounting Instruction, Help & How To on March 15th, 2020. Leave a comment

This presentation we will look into recording and adjusting entry related to a short term loan. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file. Let’s first take a look at our reports our balance sheet report for this transaction that we’re going to be recording or this adjusting entry, we’re going to be opening up our favorite report that being the balance sheet report, we’re going to change the dates up top the dates from let’s make it a 1012020 229 to zero. Now, when we think about the adjusting entries, we’re always going to be thinking of them as kind of like the cutoff dates, we’re trying to make things correct as of the cutoff date, which in this case, it’s going to be the end of the second month.

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Bank Reconciliation Second Month Part 2 9.15

Written by Bob Steele CPA - Accounting Instruction, Help & How To on March 12th, 2020. Leave a comment

In this presentation, we will continue on to part two of our bank reconciliation for the second month of operations, this time focusing on the decreases to the checks to the withdrawals from the bank account. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file, we’re first going to be opening up some reports. So we’re going to go down to the reports on the bottom left, we’re going to be opening it up first, the balance sheet report, let’s open up the balance sheet report. And we’re going to be changing the dates up top. So I’m going to change the dates up top of the two months of operations that we’ve had thus far. That’s going to be a 1012020 229 to zero.

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Bank Reconciliation First Month Part 1 Deposits 9.10

Written by Bob Steele CPA - Accounting Instruction, Help & How To on March 5th, 2020. Leave a comment

This presentation we’re going to start our bank reconciliation for the first month of operations entering the deposits or reconciling the deposits for month one for January. Let’s get into it with Intuit QuickBooks Online. Now. Here we are in our get great guitars file. Let’s start off by opening up our report. So I’m going to go to the report down below, we’re going to be taking a look at the balance sheet report because we will be focusing in of course on cash. So I’m going to go up top and change the date. So we’re just going to look at the first month so Oh, 10120 to 12. I’m sorry, oh 131 to zero, so January 1 to January 31 2020. Let’s go ahead and run that report. Then I’m going to go up top to the tab up top, right click on it, duplicate that tab.

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Bank Reconciliation Objective 9.02

Written by Bob Steele CPA - Accounting Instruction, Help & How To on March 4th, 2020. Leave a comment

This presentation and we’re going to take a look at the objectives of the bank reconciliation process. In other words, why do we need to do the bank reconciliation for what’s the important of the bank reconciliation? What are we trying to accomplish when entering a bank reconciliation? Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file. We’re thinking about bank reconciliations now. So first of all, let’s go down to our reporting down below, we’re going to be opening up the report, we’re going to be opening up our favorite report that the in the balance sheet so we’re going to open up the balance sheet report. (more…)

Payroll 8.80

Written by Bob Steele CPA - Accounting Instruction, Help & How To on February 29th, 2020. Leave a comment

This presentation and we’re going to enter payroll for the second month of operations. Recall that we’re not going to be entering payroll using the QuickBooks system. We will do that in a future presentation, we’ll get into more detail in payroll in and of itself, we don’t want to add the added feature of payroll, which costs more into our practice problem here, we will be imagining we have a third party processing the payroll like a ADP or a paychecks, we’re going to be getting the register from them, then we need to enter that information somehow into our system. So our financial statements then reflect the payroll information.

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Purchase Equipment with Debt 8.77

Written by Bob Steele CPA - Accounting Instruction, Help & How To on February 28th, 2020. Leave a comment

In this presentation, we’re going to purchase equipment with debt. In other words, we’re going to purchase equipment and finance the entire thing. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file. Let’s first start off by opening up our reports this time. So I’m going to go down to the reports down below, we’re going to be opening up our favorite report that being the balance sheet report. So let’s open up the balance sheet. Going to change the dates up top those from a 10120 to 1230 120 January through December 2020.

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Enter Bills & Pay Bills 8.70

Written by Bob Steele CPA - Accounting Instruction, Help & How To on February 18th, 2020. Leave a comment

In this presentation, we will enter bills and then to pay bills. In other words, we’re going to be entering some of the standard kind of bills, we would have monthly, like a phone bill and the utility bill, this time entering them in as bills and then going through and paying them all at one time with the pay bills feature. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file, we’re first going to take a look at the flowchart which is going to be on the desktop version just to get an idea of what we will be doing, we’re going to be entering the standard kind of bills like the phone bill and utility bill and so on and so forth.

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Pay Sales Tax 8.60

Written by Bob Steele CPA - Accounting Instruction, Help & How To on February 16th, 2020. Leave a comment

This presentation and we will take a look at the calculation and payment of sales tax. In other words, we’ve made sales within the system that is required to have sales tax on them. We’ve been calculating the sales tax. Now we want to make a payment for that sales tax. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file, we’re first gonna go down and take a look at some reports. So we’re going to go down to the reports down below. Let’s first take a look at our trial balance report.

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Purchase Order With New Inventory Item 8.15

Written by Bob Steele CPA - Accounting Instruction, Help & How To on February 6th, 2020February 6th, 2020. Leave a comment

In this presentation we will enter a purchase order and add a new vendor as well as a new inventory item as we do. So let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file. Before we go further further, let’s take a look at the flowchart on the desktop versions of the desktop version here just to take a look at that flowchart. We’re going to be up here in the vendor section, we’re going to be entering the purchase order. So just recall that the purchase order doesn’t actually have a financial transaction. We haven’t received the inventory, we haven’t paid for the inventory and no financial transaction, we’re simply requesting the inventory.

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Consolidate Loans 8.02

Written by Bob Steele CPA - Accounting Instruction, Help & How To on February 1st, 2020. Leave a comment

This presentation and we’re going to consolidate two loans and reflect that in our bookkeeping. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file, we’re going to start off by going to our reports down below and taking a look at the balance sheet, we’re going to be opening up our balance sheet report to consider the loans that we currently have on the book. I’m going to scroll back up top, we’re going to change the dates up top from a one a 120 to 1231 to zero, and then we will run that report. I’m going to then duplicate the tab up top.

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Accounting Instruction, Help, & How To (Financial & Managerial)

Helping Learn Accounting – Financial & Managerial

Posts with the account tag

Short Term Loan Adjusting Entry 10.10

Bank Reconciliation Second Month Part 2 9.15

Bank Reconciliation First Month Part 1 Deposits 9.10

Bank Reconciliation Objective 9.02

Payroll 8.80

Purchase Equipment with Debt 8.77

Enter Bills & Pay Bills 8.70

Pay Sales Tax 8.60

Purchase Order With New Inventory Item 8.15

Consolidate Loans 8.02