computer accounting with quickbooks 2011 chapter 7
TRANSCRIPT
COMPUTER ACCOUNTING WITH
QUICKBOOKS 2011
CHAPTER 7
CHAPTER 7 OVERVIEW
Accounting Cycle Financial Statement Reports Tax Reports Management Reports Export Reports to Excel
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
ACCOUNTING CYCLE
Throughout the year:Chart of Accounts: add, update, and delete accountsTransactions: record using onscreen forms
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
ACCOUNTING CYCLE
At year-end, prepare:Trial Balance AdjustmentsAdjusted Trial BalanceFinancial Statements and Report
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
TRIAL BALANCE
Lists each account and the account balance at the end of the period
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
ADJUSTMENTS
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
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
ADJUSTED TRIAL BALANCE
Adjusted trial balance = A trial balance after adjusting entries
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
GENERAL LEDGER
General Ledger lists for each account:Beginning balanceTransactions affecting each accountEnding balance
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
REPORTS
Financial Statements Income Statement (P&L) Balance Sheet Statement of
Cash Flows
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
REPORTS
Tax Reports Income Tax Preparation Report Income Tax Summary Report Income Tax
Detail Report
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
REPORTS
Management Reports Cash Flow Forecast
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
Export reports to Excel using the Export button
EXPORT REPORTS TO EXCEL
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
TO LEARN MORE …
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
Turn to Chapter 7
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