c omputer a ccounting with q uick b ooks 2013 c hapter 7 donna kay
TRANSCRIPT
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COMPUTER ACCOUNTING WITH
QUICKBOOKS 2013CHAPTER 7
Donna Kay
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CHAPTER 7 OVERVIEW
Accounting Cycle Financial Statement Reports Tax Reports Management Reports Export Reports to Excel
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
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ACCOUNTING CYCLE
Throughout the year: Chart of Accounts: add, update, and
delete accounts Transactions: record using onscreen
forms
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
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ACCOUNTING CYCLE
At year-end, prepare: Trial Balance Adjustments: record with onscreen journal Adjusted Trial Balance Financial Statements and Reports
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
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TRIAL BALANCE
Lists each account and the account balance at the end of the period
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5 types of adjustment to bring the accounts up-to-date at year-end:
1. Depreciation
2. Prepaid Items
3. Unearned Revenue
4. Accrued Expenses
5. Accrued Revenues
ADJUSTMENTS
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ADJUSTED TRIAL BALANCE
Trial Balance + / - Adjusting Entries = Adjusted Trial Balance
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GENERAL LEDGER
General Ledger lists for each account: Beginning balance Transactions affecting each account Ending balance
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REPORTS
Financial Statements Income Statement (P&L) Balance Sheet Statement of
Cash Flows
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REPORTS
Tax Reports Income Tax Preparation Report Income Tax Summary Report Income Tax
Detail Report
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REPORTS
Management Reports Cash Flow Forecast
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Export reports to Excel using the Excel button
EXPORT REPORTS TO EXCEL
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TO LEARN MORE …
See Chapter 7
Visit the Online Learning Centerwww.mhhe.com/kay2013
Visit www.myquickbooks.me
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013