Computer Accounting with QuickBooks Pro 2011horowitk/documents/Chap003_003.pdf · 2019-08-26 ·...
Transcript of Computer Accounting with QuickBooks Pro 2011horowitk/documents/Chap003_003.pdf · 2019-08-26 ·...
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COMPUTER ACCOUNTING WITH
QUICKBOOKS 2012
CHAPTER 03
Donna Kay
Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin
Banking
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CHAPTER 3 OVERVIEW
Check Register
Record Deposits
Write Checks
Reconcile Bank Statements
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HOME PAGE
BANKING
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QUICKBOOKS CHECK
REGISTER SHOWS…
Checking Balance
Deposits
Payments (Checks)
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RECORD DEPOSITS
Customer Payments are entered using
Receive Payments (Customer section of
Home page)
Undeposited funds are customer
payments received but not deposited yet
Nonsales receipts
can be entered
using Record
Deposits window
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WRITE CHECKS…
Can be used to pay:
Expenses, such as rent, utilities, and
insurance
Non-inventory items, such as office
supplies
Services, such as
accounting or
legal services
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PAY BILLS
One–Step Approach
Write Checks
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WRITE CHECKS…
Should NOT be used to pay:
Paychecks to employees for wages and
salaries
Payroll taxes and liabilities
Sales taxes
Bills already entered
using Enter Bills window
(Vendor section of the
Home page)
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RECONCILE BANK
STATEMENTS TO…
Detect errors
Update accounting
records for unrecorded
items
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Bank statement balance
to
Company’s accounting records
RECONCILE…
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DIFFERENCES
Differences between the bank statement
and accounting records are due to:
Errors
Timing differences
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ERRORS
Bank errors
Company errors
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TIMING DIFFERENCES
Bank has recorded an item, but the
company has not
Unrecorded bank charges
Unrecorded interest earned
The company has recorded an item, but the
bank has not
Deposits in transit
Outstanding checks
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BANK RECONCILIATION
USING QUICKBOOKS
Record interest earned from bank statement
Record bank service charges from bank
statement
Compare Bank statement with the Reconcile
Window
Mark deposits
that have cleared
Mark checks that
have cleared
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TO LEARN MORE …
Turn to Chapter 3
Visit the Online Learning Center
http://www. mhhe.com/kay2012
Visit
www.myquickbooks.me
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