Transcription
COMPUTER ACCOUNTING WITHQUICKBOOKS 2012CHAPTER 09Accounting for aService CompanyDonna KayMcGraw-Hill/IrwinCopyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
CHAPTER 9 OVERVIEW Record Owner’s InvestmentRecord Purchase TransactionsRecord Sales TransactionsMake Adjusting EntriesPrint ReportsClose the Accounting Period9-2
RECORD OWNERS’ INVESTMENT Use the Make Deposits window to recordowner’s investment.9-3
RECORD PURCHASETRANSACTIONSPurchase transactions can be:1. Cash Purchases2. Credit Purchases9-4
CASH PURCHASES Record cash purchases using the WriteChecks window.9-5
CREDIT PURCHASESFor a servicecompany, record creditpurchases:1. Enter the bill whenreceived using theEnter Bills window.2. Pay bill when dueusing the Pay Billswindow.3. Print the check.9-6
MEMORIZED TRANSACTIONSMemorize recurring transactions:1. Enter the bill2. Memorize the transaction (Edit menu Memorize Bill)3. Use memorized transaction (Lists menu Memorized Transaction List)9-7
SALES TRANSACTIONSEnter sales transactions with customers:1. Prepare an invoice torecord customercharges using Invoicewindow2. Record customerpayment using ReceivePayments window3. Record deposit in bankusing Make Depositswindow9-8
PRINT TRIAL BALANCE Print a Trial Balance before makingadjusting entries to verify theaccounting system is in balance atyear-end.9-9
ADJUSTING ENTRIES Use the onscreen Journal to enteradjusting entries that bring accounts upto date at the end of the accountingperiod.9-10
PRINT ADJUSTEDTRIAL BALANCE Print an Adjusted Trial Balance to verifythe accounting system is still in balanceafter making adjusting entries.9-11
PRINT REPORTSFinancial reports for the year include: General Ledger Profit & Loss Balance Sheet Statement of Cash Flows9-12
CLOSE THE ACCOUNTING PERIOD QuickBooks automatically closes theaccounting period by closing alltemporary accounts.9-13
TO LEARN MORE Turn to Chapter 9Visit the Online Learning ooks.me9-14
CREDIT PURCHASES For a service company, record credit purchases: 1.Enter the bill when received using the Enter Bills window. 2.Pay bill when due using the Pay Bills window. 3.Print the check.
