Enter Deposits and Income Into QuickBooks the Easy Way

Enter deposits and income into QuickBooks the easy way. QuickBooks has a large amount of options and we can enter a full accounting process into the QuickBooks system. As we learn how QuickBooks works it is easy to loose track of how to set up a simple accounting system. This lecture will discuss how to set up a simple accounting system, a cash basis system based on the banking information, based on the bank statement. We will compare and contrast this cash based system to an accrual system. We will enter transactions from the bank statement directly into the check register which is the fasted way to enter the data. For more accounting and QuickBooks information see accounting website. http://accountinginstruction.info/

QuickBooks Pro 2019 Create Backup File – QuickBooks Desktop 2019

QuickBooks Pro 2019 – Desktop 2019 Backup Data will cover the backup process for a QuickBooks 2018 data file. Backing up the accounting data file is important to safeguarding the data but could also help with in other areas. For example a backup of the data can be given to the CPA firm or tap practitioner at year end. A backup up file can also be used when experimenting. The QuickBooks 2019 backup file is most effected if saved to a location other then the one the data file is one. Saving the backup file to the same drive as the QuickBooks 2019 data file does provide some protection but does not protect against the hard drive crashing, theft, or fire. Saving the QuickBooks 2019 backup file to another drive or to the cloud adds more security that the data is not lost. When making a backup file QuickBooks 2019 will copy the current data file into a compressed backup. The QuickBooks backup file file cannot be run, but must be restored. It is important to note that a backup file can only be restored to a version of QuickBooks that is the same year or a later year. For example, a QuickBooks 2019 backup file cannot be restored to QuickBooks 2017 software but a QuickBooks 2017 backup file can be restored to QuickBooks 2019 software.
For more accounting and QuickBooks information see accounting website.

 

QuickBooks Pro 2019 Unearned Revenue Adjusting Entry – QuickBooks Desktop 2019

QuickBOoks Pro 2019 – QuickBooks Desktop 2019 unearned revenue adjusting entry covers the the adjusting entry for cash received but for which revenue has not yet been earned into the accounting software. When entering adjusting entries into accounting software we usually us the general journal but we will use Quickbooks 2019’s register feature to reduce the need for knowing debits and credits. The unearned revenue adjustment will be a bit different then theory textbooks because of the the QuickBooks 2019 track prepayments, the accounting software tracking prepayments as negative receivables rather then liabilities. This system works great because it allows QuickBooks 2019 to match prepayments with invoiced created later but it produces reports that are not in conformity with GAAP principles. To fix the problem we will make an adjusting entry increaseing accounts receivable for the deposit and increasing the liability account called unearned revenue.
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QuickBooks Pro 2019 Invoice or Accounts Receivable Adjusting Entry u

QuickBooks Pro 2019 – QuickBooks Desktop 2019 Invoice Adjusting Entry will cover the entry of an adjusting entry for an invoice that was dated past the cut off date. In other words, an invoice was entered in the QuickBOoks pro 2019 system in the month of March when the work was actually done in February. This is common in many companies because it may have taken time to process the information needed to fill out the invoice. Under the revenue recognition principle however, we need to record the revenue when earned, in this case in February. To do this we will recreate the transaction QuickBooks 2019 generates when making an invoice on February 28th. In order to enter this into the accounting software we will need to understand the journal entry QUickBooks 2019 creates when making an invoice and then recreate the entry without making another invoice. Traditionally adjusting entries are done with the genearl journal feature of the accounting software. We will use QuickBooks 2019’s register feature to eliminate the need to understand debits and credits. Form more accounting and QuickBooks information see accounting website. http://accountinginstruction.info/

 

QuickBooks 2019 Apply Credit To Invoice u

Apply credit to an invoice created in QuickBooks. A customer credit means that a customer has a prepayment we can apply to a future invoice. We entered the customer deposit for by entering a receive payment before we had entered an invoice. We will not enter the invoice and apply the payment. We will start by creating a normal invoice. Will then apply the credit which will calculate at the bottom of the invoice.
For more accounting and QuickBooks information see accounting website.

 

QuickBooks Pro 2019 Invoice for Custom Order Linked To P.O. & Payment u

Invoice customer that is populated through a link to the Purchase Order and payment in QuickBooks Pro 2019. It is possible to track a custom over all the way form the purchase order, to the payment, to the invoice of a customer in QuickBooks Pro 2019. When we create the purchase order we have the option of adding a customer to the customer field. When when then make a payment of the inventory QuickBooks will ask us if we are making payment for the inventory received and will populate the payment information. QuickBooks Will also prompt us to connect the same information to the invoice when we create an invoice for the same customer. QuickBooks Will populate the invoice with information we originally entered in the purchase order.
For more accounting and QuickBooks information see accounting website.

 

QuickBooks Pro 2019 Inventory Tracking Options

Inventory tracking options for QuickBooks Pro 2019. There are many different ways to track inventory using accounting software like QuickBooks Pro 2019. We can enter the inventory into the system and QuickBooks can help us track the inventory. QuickBooks will increase inventory when we purchase and record the decrease when we sell the inventory as well as the related expense in the form of cost of goods sold. Entering inventory into QuickBooks in this way would be using a perpetual inventory system. We could also use a periodic inventory system. We could track the inventory in some other format, such as an Excel sheet and only record the purchase of inventory and not reduce inventory with each sale. Instead we can count the inventory at the end of the day, week, or month and then make periodic adjustments, reducing inventory to our count and recording the related expense on a periodic basis. Finally, if we do not hold a lot of inventory we could just expense the inventory at the time of purchase rather then at the time of sale or on a periodic basis, this method not being proper accrual accounting but is a simple method that could provide the information we need.
For more accounting and QuickBooks information see accounting website.

QuickBooks Pro 2019 – Purchase & Download From Intuit Website

QuickBooks Pro 2019 – Purchase and download will discuss how to purchase the QuicKBooks 2019 software from the Intuit website. Intuit is the owner of QuickBooks. We can also purchase QuickBooks 2019 from other locations. We will look at the purchasing process in Intuit, a process that can be confusing given there are many different QuickBooks options. One purchased we can download the installation program to our computer, making sure to copy the registration number in the process so that we can us it to register the QuickBooks 2019 software. We must register the QuickBooks 2019 software within 30 days or will be lock out until we do. Although we are purchasing QuickBooks 2019 from Online we will be purchasing the Desktop version and will install the software on the desktop.
For more QuickBooks and accounting information see accounting website.