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E-grāmata: QuickBooks 2021 All-in-One For Dummies

  • Formāts: PDF+DRM
  • Izdošanas datums: 10-Nov-2020
  • Izdevniecība: For Dummies
  • Valoda: eng
  • ISBN-13: 9781119676829
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  • Formāts: PDF+DRM
  • Izdošanas datums: 10-Nov-2020
  • Izdevniecība: For Dummies
  • Valoda: eng
  • ISBN-13: 9781119676829
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Explains how to use the small business finance program, covering such topics as how to invoice customers, prepare financial statements and reports, manage payroll, write checks, pay bills, and monitor inventory.

Do the numbers in double-quick time with this trusted QuickBooks bestseller! 

Running your own business can be cool, but some of the financial side—accounting and payroll, for instance—is not always so cool! That’s why millions of small business owners around the world bank on QuickBooks to easily manage accounting and financial tasks and save big-time on shelling out for an expensive professional. 

 QuickBooks 2021 All-in-One For Dummies contains eight information-rich mini-books that account for all your financial line-item asks, showing you step-by-step how to plan your perfect budget, simplify tax returns, manage inventory, create invoices, track costs, generate reports, and accurately check off every other accounting and financial-management task that comes across your desk!   

  • Get the most out of QuickBooks 2021  
  • Sharpen up on the basics with an accounting primer 
  • Craft a world-class business plan 
  • Process taxes and payroll in double-quick time 

Written by expert CPA and small business advisor Stephen L. Nelson, QuickBooks All-in-One 2021 For Dummies is the best-selling blue-chip go-to that will save you time and money—and will allow you to enjoy the fruits of your labors!  


Introduction 1(1)
About This Book 1(6)
Foolish Assumptions
2(1)
Icons Used in This Book
3(1)
Beyond the Book
4(1)
Where to Go from Here
4(3)
Book 1 An Accounting Primer
7(66)
Chapter 1 Principles of Accounting
9(20)
The Purpose of Accounting
10(1)
The big picture
10(1)
Managers, investors, and entrepreneurs
10(1)
External creditors
11(1)
Government agencies
11(1)
Business form generation
12(1)
Reviewing the Common Financial Statements
12(1)
The income statement
13(3)
Balance sheet
16(3)
Statement of cash flows
19(3)
Other accounting statements
22(1)
Putting it all together
23(2)
The Philosophy of Accounting
25(1)
Revenue principle
25(1)
Expense principle
26(1)
Matching principle
26(1)
Cost principle
26(1)
Objectivity principle
27(1)
Continuity assumption
27(1)
Unit-of-measure assumption
27(1)
Separate-entity assumption
28(1)
A Few Words about Tax Accounting
28(1)
Chapter 2 Double-Entry Bookkeeping
29(20)
The Fiddle-Faddle Method of Accounting
30(3)
How Double-Entry Bookkeeping Works
33(1)
The accounting model
33(2)
Talking mechanics
35(3)
Almost a Real-Life Example
38(1)
Recording rent expense
39(1)
Recording wages expense
39(1)
Recording supplies expense
40(1)
Recording sales revenue
40(1)
Recording cost of goods sold
41(1)
Recording the payoff of accounts payable
41(1)
Recording the payoff of a loan
42(1)
Calculating account balance
42(2)
Using T-account analysis results
44(2)
A Few Words about How QuickBooks Works
46(3)
Chapter 3 Special Accounting Problems
49(24)
Working with Accounts Receivable
50(1)
Recording a sale
50(1)
Recording a payment
50(1)
Estimating bad-debt expense
51(1)
Removing uncollectible accounts receivable
52(1)
Recording Accounts Payable Transactions
53(1)
Recording a bill
54(1)
Paying a bill
54(1)
Taking some other accounts payable pointers
55(1)
Inventory Accounting
56(1)
Dealing with obsolete inventory
56(1)
Disposing of obsolete inventory
57(1)
Dealing with inventory shrinkage
58(2)
Accounting for Fixed Assets
60(1)
Purchasing a fixed asset
60(1)
Dealing with depreciation
60(1)
Disposing of a fixed asset
61(2)
Recognizing Liabilities
63(1)
Borrowing money
64(1)
Making a loan payment
64(1)
Accruing liabilities
65(3)
Closing Out Revenue and Expense Accounts
68(1)
The traditional close
68(2)
The QuickBooks close
70(1)
One More Thing
71(2)
Book 2 Getting Ready to Use Quickbooks
73(74)
Chapter 1 Setting Up QuickBooks
75(18)
Planning Your New QuickBooks System
75(1)
What accounting does
75(1)
What accounting systems do
76(1)
What QuickBooks does
76(1)
And now for the bad news
77(1)
Installing QuickBooks
78(1)
Dealing with the Presetup Jitters
79(1)
Preparing for setup
79(1)
Seeing what happens during setup
80(1)
Running the QuickBooks Setup Wizard
81(1)
Getting the big welcome
81(1)
Supplying company information
82(1)
Customizing QuickBooks
83(1)
Setting your start date
84(2)
Reviewing the suggested chart of accounts
86(1)
Adding your information to the company file
87(2)
Identifying the Starting Trial Balance
89(1)
A simple example to start
89(2)
A real-life example to finish
91(2)
Chapter 2 Loading the Master File Lists
93(22)
Setting Up the Chart of Accounts List
94(4)
Setting Up the Item List
98(1)
Working with the Price Level List
99(1)
Using Sales Tax Codes
99(1)
Setting Up a Payroll Item List
100(1)
Setting Up Classes
101(2)
Setting Up a Customer List
103(4)
Setting Up the Vendor List
107(3)
Setting Up a Fixed Assets List
110(2)
Setting Up a Price Level List
112(1)
Setting Up a Billing Rate Level List
112(1)
Setting Up Your Employees
113(1)
Setting Up an Other Names List
113(1)
Setting Up the Profile Lists
113(2)
Chapter 3 Fine-Tuning QuickBooks
115(32)
Accessing the Preferences Settings
116(1)
Setting the Accounting Preferences
117(1)
Using account numbers
118(1)
Setting general accounting options
119(2)
Setting the Bills Preferences
121(1)
Setting the Calendar Preferences
121(1)
Setting the Checking Preferences
121(2)
Changing the Desktop View
123(2)
Setting Finance Charge Calculation Rules
125(1)
Setting General Preferences
126(2)
Controlling Integrated Applications
128(1)
Controlling Inventory
129(1)
Controlling How Jobs and Estimates Work
130(1)
Dealing with Multiple Currencies
131(1)
Starting Integrated Payment Processing
132(1)
Controlling How Payroll Works
132(2)
Telling QuickBooks How Reminders Should Work
134(1)
Specifying Reports & Graphs Preferences
135(3)
Setting Sales & Customers Preferences
138(2)
Specifying How Sales Are Taxed
140(1)
Setting the Search Preferences
141(1)
Setting the Send Forms Preferences
141(1)
Fine-Tuning the Service Connection
142(1)
Controlling Spell Checking
143(1)
Controlling How 1099 Tax Reporting Works
144(1)
Setting Time & Expenses Preferences
145(2)
Book 3 Bookkeeping Chores
147(2)
Chapter 1 Invoicing Customers
149(1)
Choosing an Invoice Form
149(1)
Customizing an Invoice Form
150(1)
Choosing a template to customize
150(1)
Reviewing the Additional Customization options
150(5)
Moving on to Basic Customization
155(2)
Working with the Layout Designer tool
157(3)
Working with the web-based Forms Customization tool
160(1)
Invoicing a Customer
160(6)
Billing for Time
166(1)
Using a weekly time sheet
166(1)
Timing single activities
167(1)
Including billable time on an invoice
168(2)
Printing Invoices
170(1)
Emailing Invoices
171(1)
Recording Sales Receipts
172(2)
Recording Credit Memos
174(2)
Receiving Customer Payments
176(3)
Assessing Finance Charges
179(1)
Setting up finance-charge rules
179(1)
Calculating finance charges
180(1)
Using Odds and Ends on the Customers Menu
181(2)
Chapter 2 Paying Vendors
183(20)
Creating a Purchase Order
183(1)
Creating a real purchase order
184(3)
Using some purchase order tips and tricks
187(1)
Recording the Receipt of Items
187(4)
Simultaneously Recording the Receipt and the Bill
191(1)
Entering a Bill
192(1)
If you haven't previously recorded an item receipt
192(2)
If you have previously recorded an item receipt
194(2)
Paying Bills
196(3)
Reviewing the Other Vendor Menu Commands
199(1)
Vendor Center
199(1)
Sales Tax menu commands
200(1)
Inventory Activities menu commands
201(1)
Print/E-file 1099s
201(1)
Item List
202(1)
Chapter 3 Tracking Inventory and Items
203(30)
Looking at Your Item List
204(1)
Using the Item Code column
204(1)
Using the Item List window
205(1)
Using inventory reports
206(1)
Adding Items to the Item List
206(1)
Adding an item: Basic steps
207(1)
Adding a service item
208(1)
Adding an inventory part
209(2)
Adding a noninventory part
211(1)
Adding an other-charge item
212(1)
Adding a subtotal item
213(1)
Adding a group item
214(1)
Adding a discount item
215(1)
Adding a payment item
216(1)
Adding a sales tax item
217(1)
Setting up a sales tax group
217(1)
Adding custom fields to items
218(2)
Editing Items
220(1)
Adjusting physical counts and inventory values
220(3)
Adjusting prices and price levels
223(1)
Using the Change Item Prices command
223(1)
Using price levels
224(2)
Enabling advanced pricing
226(1)
Managing Inventory in a Manufacturing Firm
227(1)
Handling manufactured inventory the simple way
227(1)
Performing inventory accounting in QuickBooks
228(3)
Managing multiple inventory locations
231(2)
Chapter 4 Managing Cash and Bank Accounts
233(30)
Writing Checks
234(1)
Recording and printing a check
234(5)
Customizing the check form
239(2)
Making Bank Deposits
241(3)
Transferring Money between Bank Accounts
244(1)
Working with the Register
245(1)
Recording register transactions
246(3)
Using Register window commands and buttons
249(3)
Using Edit Menu Commands
252(4)
Reconciling the Bank Account
256(4)
Reviewing the Other Banking Commands
260(1)
Order Checks & Envelopes command
260(1)
Enter Credit Card Charges command
260(1)
Bank Feeds command
261(1)
Loan Manager command
262(1)
Other Names list
262(1)
Chapter 5 Paying Employees
263(12)
Setting Up Basic Payroll
264(1)
Signing up for a payroll service
265(1)
Setting up employees
265(4)
Setting up year-to-date amounts
269(1)
Checking your payroll setup data
270(1)
Scheduling Payroll Runs
270(1)
Paying Employees
270(2)
Editing and Voiding Paychecks
272(1)
Paying Payroll Liabilities
273(2)
Book 4 Accounting Chores
275(80)
Chapter 1 For Accountants Only
277(16)
Working with QuickBooks Journal Entries
277(1)
Recording a journal entry
278(1)
Reversing a journal entry
279(1)
Editing journal entries
280(1)
Updating Company Information
280(1)
Working with Memorized Transactions
280(1)
Reviewing the Accountant & Taxes Reports
281(2)
Creating an Accountant's Copy of the QuickBooks Data File
283(5)
Using an accountants copy
288(1)
Reusing an accountants copy
288(1)
Exporting client changes
288(1)
Importing accountant's changes
289(1)
Canceling accountants changes
290(1)
Troubleshooting accountant's copy transfers
291(1)
Using the Client Data Review Commands
291(2)
Chapter 2 Preparing Financial Statements and Reports
293(22)
Some Wise Words Up Front
293(1)
Producing a Report
294(1)
Working with the Report Window
295(1)
Working with Report window buttons
295(7)
Using the Report window boxes
302(2)
Modifying a Report
304(1)
Using the Display tab
304(2)
Using the Filters tab
306(2)
Using the Header/Footer tab
308(1)
Formatting fonts and numbers
309(2)
Processing Multiple Reports
311(1)
A Few Words about Document Retention
312(3)
Chapter 3 Preparing a Budget
315(12)
Reviewing Common Budgeting Tactics
315(1)
Top-line budgeting
316(1)
Zero-based budgeting
316(1)
Benchmarking
317(1)
Putting it all together
318(1)
Taking a Practical Approach to Budgeting
319(1)
Using the Set Up Budgets Window
319(1)
Creating a new budget
319(2)
Working with an existing budget
321(2)
Managing with a Budget
323(2)
Some Wrap-Up Comments on Budgeting
325(2)
Chapter 4 Using Activity-Based Costing
327(16)
Reviewing Traditional Overhead Allocation
328(2)
Understanding How ABC Works
330(1)
The ABC product-line income statement
330(4)
ABC in a small firm
334(1)
Implementing a Simple ABC System
335(2)
Seeing How QuickBooks Supports ABC
337(1)
Turning On Class Tracking
337(1)
Using Classes for ABC
338(1)
Setting up your classes
338(1)
Classifying revenue amounts
339(1)
Classifying expense amounts
339(2)
After-the-fact classifications
341(1)
Producing ABC reports
342(1)
Chapter 5 Setting Up Project and Job Costing Systems
343(12)
Setting Up a QuickBooks Job
343(3)
Tracking Job or Project Costs
346(4)
Job Cost Reporting
350(1)
Using Job Estimates
350(2)
Progress Billing
352(3)
Book 5 Financial Management
355(50)
Chapter 1 Ratio Analysis
357(18)
Some Caveats about Ratio Analysis
358(1)
Liquidity Ratios
359(1)
Current ratio
359(1)
Acid-test ratio
360(1)
Leverage Ratios
361(1)
Debt ratio
361(1)
Debt equity ratio
362(1)
Times interest earned ratio
363(1)
Fixed-charges coverage ratio
364(1)
Activity Ratios
365(1)
Inventory turnover ratio
366(1)
Days of inventory ratio
367(1)
Average collection period ratio
367(1)
Fixed-asset turnover ratio
368(1)
Total-assets turnover ratio
369(1)
Profitability Ratios
369(1)
Gross margin percentage
370(1)
Operating income/sales
370(1)
Profit margin percentage
371(1)
Return on assets
371(1)
Return on equity
372(3)
Chapter 2 Economic Value Added Analysis
375(14)
Introducing the Logic of EVA
375(1)
Seeing EVA in Action
376(2)
An example of EVA
378(1)
Another example of EVA
378(1)
Reviewing Some Important Points about EVA
379(2)
Using EVA When Your Business Has Debt
381(1)
The first example of the modified EVA formula
381(2)
Another EVA with debt example
383(2)
Presenting Two Final Pointers
385(1)
And Now, a Word to My Critics
386(3)
Chapter 3 Capital Budgeting in a Nutshell
389(16)
Introducing the Theory of Capital Budgeting
389(1)
The big thing is the return
390(1)
One little thing is maturity
390(1)
Another little thing is risk
391(1)
The bottom line
391(1)
Calculating the Rate of Return on Capital
392(1)
Calculating the investment amount
393(1)
Estimating the net cash flows
393(4)
Calculating the return
397(5)
Measuring Liquidity
402(1)
Thinking about Risk
402(2)
What Does All of This Have to Do with QuickBooks?
404(1)
Book 6 Business Plans
405(74)
Chapter 1 Profit-Volume-Cost Analysis
407(20)
Seeing How Profit-Volume-Cost Analysis Works
408(2)
Calculating Break-Even Points
410(2)
Using Real QuickBooks Data for Profit-Volume-Cost Analysis
412(1)
Sales revenue
412(1)
Gross margin percentage
412(2)
Fixed costs
414(1)
Recognizing the Downside of the Profit-Volume-Cost Model
414(2)
Using the Profit-Volume-Cost Analysis Workbook
416(1)
Collecting your inputs
416(3)
Understanding the Break-Even Analysis Forecast
419(2)
Understanding the Profit-Volume Forecast
421(1)
Looking at the profit-volume-cost charts
422(5)
Chapter 2 Creating a Business Plan Forecast
427(38)
Reviewing Financial Statements and Ratios
428(1)
Using the Business Plan Workbook
429(7)
Understanding the Workbook Calculations
436(1)
Forecasting inputs
437(1)
Balance Sheet
437(8)
Common Size Balance Sheet
445(1)
Income Statement
446(4)
Common Size Income Statement
450(1)
Cash Flow Statement
451(6)
Financial Ratios Table
457(6)
Customizing the Starter Workbook
463(1)
Changing the number of periods
463(1)
Performing ratio analysis on existing financial statements
463(1)
Calculating taxes for a current net loss before taxes
464(1)
Combining this workbook with other workbooks
464(1)
Chapter 3 Writing a Business Plan
465(14)
What the Term "Business Plan" Means
465(1)
A Few Words about Strategic Plans
466(1)
Cost strategies
466(1)
Differentiated products and services strategies
467(1)
Focus strategies
467(1)
Look, Ma: No Strategy
468(1)
Two comments about tactics
469(1)
Six final strategy pointers
469(1)
A White-Paper Business Plan
470(3)
A New-Venture Plan
473(1)
Is the new venture's product or service feasible?
473(1)
Does the market want the product or service?
474(1)
Can the product or service be profitably sold?
475(1)
Is the return on the venture adequate for prospective investors?
475(1)
Can existing management run the business?
476(1)
Some final thoughts
477(2)
Book 7 Care and Maintenance
479(44)
Chapter 1 Administering QuickBooks
481(18)
Keeping Your Data Confidential
481(1)
Using Windows security
482(1)
Using QuickBooks security
482(1)
Using QuickBooks in a Multiuser Environment
483(1)
Setting up additional QuickBooks users
484(6)
Changing user rights in Enterprise Solutions
490(1)
Changing user rights in QuickBooks Pro and Premier
491(2)
Using Audit Trails
493(1)
Enabling Simultaneous Multiuser Access
494(1)
Maintaining Good Accounting Controls
495(4)
Chapter 2 Protecting Your Data
499(18)
Backing Up the QuickBooks Data File
499(1)
Backing-up basics
500(3)
What about online backup?
503(1)
Some backup tactics
504(1)
Restoring a QuickBooks Data File
505(4)
Condensing the QuickBooks Company Files
509(1)
Cleanup basics
510(5)
Some cleanup and archiving strategies
515(2)
Chapter 3 Troubleshooting
517(6)
Using the QuickBooks Help File and This Book
517(2)
Browsing Intuifs Product-Support Website
519(2)
Checking Another Vendor's Product-Support Website
521(1)
Tapping into Intuifs Online and Expert Communities
521(1)
When All Else Fails
522(1)
Book 8 Appendixes
523(2)
Appendix A A Crash Course in Excel
525(16)
Starting Excel
525(1)
Stopping Excel
526(1)
Explaining Excel's Workbooks
526(1)
Putting Text, Numbers, and Formulas in Cells
527(1)
Writing Formulas
528(1)
Scrolling through Big Workbooks
529(1)
Copying and Cutting Cell Contents
530(2)
Copying cell contents
530(1)
Moving cell contents
531(1)
Moving and copying formulas
531(1)
Formatting Cell Contents
532(2)
Recognizing That Functions Are Simply Formulas
534(3)
Saving and Opening Workbooks
537(2)
Saving a workbook
537(1)
Opening a workbook
538(1)
Printing Excel Workbooks
539(1)
One Other Thing to Know
540(1)
Appendix B Government Web Resources for Businesses
541(18)
Bureau of Economic Analysis
541(3)
Finding information at the BEA website
542(1)
Downloading a BEA publication
542(1)
Uncompressing a BEA publication
543(1)
Using a BEA publication
544(1)
Bureau of Labor Statistics
544(4)
Finding information at the BLS website
545(1)
Using BLS information
545(3)
Census Bureau
548(3)
Finding information at the Census Bureau website
549(1)
Using the Census Bureau's publications
550(1)
Using the Census Bureau search engine
550(1)
Using the Census Bureau Subjects index
551(1)
Securities and Exchange Commission
551(2)
Finding information through EDGAR
552(1)
Searching the EDGAR database
552(1)
Federal Reserve
553(2)
Finding information at the Federal Reserve website
554(1)
Using the Federal Reserve website's information
555(1)
Government Publishing Office
555(2)
Information available at the GPO website
556(1)
Searching the GPO database
556(1)
Internal Revenue Service
557(2)
Appendix C Glossary of Accounting and Financial Terms
559(30)
Index 589
Stephen L. Nelson, MBA, CPA, holds an MS in Taxation and provides accounting, business advisory, and tax planning and preparation services to small businesses as a CPA. He has written more than 100 books on computers and financial management.