quick books

A Presentation of TeachUcomp Incorporated.

Copyright © TeachUcomp, Inc. 2011

Introductory QuickBooks

Introductory

QuickBooks

TeachUcomp, Inc.

…it’s all about you

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2 ©TeachUcomp, Inc. Introductory QuickBooks

Introductory QuickBooks

Copyright:

Copyright © 2011 by TeachUcomp, Inc. All rights reserved. This publication, or any part thereof,

may not be reproduced or stored in a retrieval system, or transmitted in any form or by any means,

electronic, mechanical, recording, photocopying, or otherwise, without the express written permission of

TeachUcomp, Inc.

For PDF manuals, TeachUcomp, Inc. allows the owner of the PDF manual to make up to 2

additional copies of the PDF manual that the owner may place on up to 2 additional non-shared computer

hard drives for ease of use when using the accompanying CD-ROM tutorials. TeachUcomp, Inc. also grants

unlimited personal printing rights to the owner, strictly limited to the purposes of not-for-profit personal or

private education or research.

The unauthorized reproduction or distribution of this copyrighted work is illegal. Criminal copyright

infringement, including infringement without monetary gain, is investigated by the FBI and is punishable by

up to five years in federal prison and a fine of $250,000.

Trademark Acknowledgements:

Intuit, Quicken, QuickBooks, QuickBooks Pro, QuickBooks Premier, Turbo Tax, EasyStep,

QuickReports, and QuickZoom are registered trademarks of Intuit, Inc. Windows, Windows 95, Windows 98,

Windows NT, Windows Me, Windows XP, Windows Vista, Microsoft Word 97, Microsoft Word 2000,

Microsoft Word XP, Microsoft Word 2003, Microsoft Word 2007, Microsoft Excel 97, Microsoft Excel 2000,

Microsoft Excel XP, Microsoft Excel 2003, Microsoft Excel 2007 and Outlook are registered trademarks of

Microsoft Corporation. Other brand names and product names are trademarks or registered trademarks of

their respective holders.

Disclaimer:

While every precaution has been made in the production of this book, TeachUcomp, Inc. assumes

no responsibility for errors or omissions. Nor is any liability assumed for damages resulting from the use of

the information contained herein. These training materials are provided without any warranty whatsoever,

including, but not limited to, the implied warranties of merchantability or fitness for a particular purpose. All

names of persons or companies in this manual are fictional, unless otherwise noted.

TeachUcomp, Inc. Phone: (877) 925-8080 Web: http://www.teachucomp.com

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Welcome to the introductory section of TeachUcomp, Inc.’s

Mastering QuickBooks Made Easy™ class. This class introduces

the student to Intuit’s QuickBooks accounting program, and

shows them how to effectively use the program. QuickBooks is

one of the most popular accounting and bookkeeping programs

available today. The introductory section of this class is designed

to give a basic user-level skill set to the student with little or no

knowledge of the program’s capabilities.

QuickBooks is a terrific program to learn, as the skills that

you learn in QuickBooks can save valuable time and money by

automating, organizing and structuring the bookkeeping of your

company.

QuickBooks is a multi-featured program that allows you to

create invoices, create customer statements, pay your bills, write

vendor checks, track inventory, and manage your payroll, as well

as perform many other accounting and business-management

related tasks.

Introduction and Overview

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Chapters/Lessons: Pages:

CHAPTER 1- Getting Around in QuickBooks 6

The Home Page- 2006:2012 7

The Centers- 2006:2012 8

The Menu Bar and Keyboard Shortcuts 9

The Navigators- 2005 10

The Open Window List 11

The Icon Bar 12

Customizing the Icon Bar 12

Using the Shortcut List- 2005 13

The Chart of Accounts 14-15

Accounting Methods 16

Financial Reports 16

Getting Around in QuickBooks- Actions 17-18

Getting Around in QuickBooks- Exercise 19

CHAPTER 2- Creating a QuickBooks Company 20

Using Express Start- 2012 Only 21

Using the EasyStep Interview- 2007:2012 22-24

Using the EasyStep Interview- 2006 25-29

Using the EasyStep Interview- 2003:2005 30-34

Returning to the EasyStep Interview- 2006:2012 34

Returning to the EasyStep Interview- 2003:2005 34

Creating a Backup File- 2007:2012 34-35

Creating a Backup File- 2003:2006 35-36

Restoring a File- 2007:2012 36

Restoring a File- 2003:2006 37

Setting Up Users 37

Single and Multiple User Modes 38

Closing Company Files 38

Opening a Company File- 2007:2012 38

Opening a Company File- 2003:2006 38

Creating a QuickBooks Company- Actions 39-43

Creating a QuickBooks Company- Exercise 44-55

CHAPTER 3- Using Lists 56

Using Lists 57

The Chart of Accounts- 2007:2012 57-59

The Chart of Accounts- 2003:2006 59-61

The Customers and Jobs Tab- 2006:2012 61-63

The Customer:Job List- 2003:2005 63-64

The Employees Tab- 2006:2012 64-65

The Employee List- 2003:2005 65-66

The Vendors Tab- 2006:2012 66-67

The Vendor List- 2003:2005 67-68

Using Custom Fields 68

Sorting Lists 69

Inactivating and Reactivating List Items 69

Printing Lists 70

Renaming and Merging List Items 70

Adding Multiple List Entries from Excel- 2010:2012 70

Using Lists- Actions 71-81

Using Lists- Exercise 82-83

CHAPTER 4- Setting Up Sales Tax 84

The Sales Tax Process 85

Setting Up Your Tax Agencies 85

Setting Up Your Tax Rates 85

Creating a Sales Tax Group 86

Setting Sales Tax Preferences 86

Indicating Who and What Gets Taxed 87

Setting Up Sales Tax- Actions 88-89

Setting Up Sales Tax- Exercise 90

Table Of Contents


CHAPTER 5- Setting Up Inventory Items 91

Setting Up Inventory 92

Creating Inventory Items 92

Creating a Purchase Order 93

Receiving Items with a Bill 93

Entering Item Receipts 93

Matching Bills to Item Receipts 93-94

Adjusting Inventory 94

Setting Up Inventory Items- Actions 95-96

Setting Up Inventory Items- Exercise 97

CHAPTER 6- Setting Up Other Items 98

Service Items 99

Non-Inventory Items 99-100

Other Charges 100

Subtotals 100

Groups 101

Discounts 101-102

Payments 102

Changing Item Prices 102-103

Setting Up Other Items- Actions 104-107

Setting Up Other Items- Exercise 108

CHAPTER 7- Basic Sales 109

Selecting a Sales Form 110

Creating an Invoice 110

Creating a Sales Receipt 110-111

Finding Transaction Forms 111

Previewing Sales Forms 111

Printing Sales Forms 111

Basic Sales- Actions 112-113

Basic Sales- Exercise 114

CHAPTER 8- Using Price Levels 115

Using Price Levels 116

Using Price Levels- Actions 117

Using Price Levels- Exercise 118

CHAPTER 9- Creating Billing Statements 119

Setting Finance Charge Defaults 120

Entering Statement Charges 120

Applying Finance Charges and Creating Statements 121

Creating Billing Statements- Actions 122

Creating Billing Statements- Exercise 123

CHAPTER 10- Payment Processing 124

Recording Customer Payments 125

Entering a Partial Payment 126

Applying One Payment to Multiple Jobs 126

Entering Overpayments 126

Entering Down Payments or Prepayments 127

Applying Customer Credits 127

Making Deposits 127-128

Payment Processing- Actions 129-132

Payment Processing- Exercise 133 Sample

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CHAPTER 11- Handling Refunds 134

Creating a Credit Memo and Refund Check 135

Refunding Customer Payments 135

Handling Refunds- Actions 136

Handling Refunds- Exercise 137

CHAPTER 12- Entering and Paying Bills 138

Setting Billing Preferences 139

Entering Bills 139-140

Paying Bills 140

Early Bill Payment Discounts 141

Entering a Vendor Credit 141

Applying a Vendor Credit 141

Entering and Paying Bills- Actions 142-144

Entering and Paying Bills- Exercise 145

CHAPTER 13- Using Bank Accounts 146

Using Registers 147

Writing Checks 147-148

Writing a Check for Inventory Items 148

Printing Checks 148-149

Transferring Funds Between Accounts 149

Reconciling Accounts 150

Voiding Checks 151

Using Bank Accounts- Actions 152-155

Using Bank Accounts- Exercise 156

CHAPTER 14- Paying Sales Tax 157

Sales Tax Reports 158

Using the Sales Tax Payable Register 158

Paying Your Tax Agencies 158-159

Paying Sales Tax- Actions 160

Paying Sales Tax- Exercise 161

QuickBooks Keyboard Shortcuts 162

Table Of Contents

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7.1- Selecting a Sales Form

7.2- Creating an Invoice

7.3- Creating a Sales Receipt

7.4- Finding Transaction Forms

7.5- Previewing Sales Forms

7.6- Printing Sales Forms

CHAPTER 7-

Basic Sales

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7.1- Selecting a Sales Form:

When you sell anything for your company, you have to fill out one of the sales forms in QuickBooks.

The sales form that you use will depend on whether you expect payment in the future, or at the time of the

sale. If you expect to be paid in the future, you will fill out an invoice for sales. Later on, you will be able to

match the customer payment to the associated invoice. However, if you take full payment at the time of

sale, then you will instead fill out a sales receipt to give to the customer.

You can create an invoice for a customer by selecting “Customers| Create Invoices” from the Menu

Bar. You create a sales receipt by selecting “Customers| Enter Sales Receipts” from the Menu Bar. You can

see that these forms are very similar in their layouts and usages. In this chapter, we will examine how to

perform data entry into the sales forms in QuickBooks.

Basic Sales

7.2- Creating an Invoice:

When a customer agrees to make a purchase for which payment will be made at a later point in

time, you enter the sale into an invoice. The invoice lists the customer’s information, along with an itemized

list of how much that customer owes for the goods or services purchased. To create an invoice, select

“Customers| Create Invoices” from the Menu Bar. The particular invoice form that is used for the transaction

can be changed by using the “Template” drop-down in the upper right corner of any invoice form in order to

switch between the various invoice templates that are available.

You enter the customer information for both invoices and sales receipts by using the “Customer:Job”

drop-down to select a customer that you have entered into the “Customer List,” or by typing the customer

information into the “Bill To” and “Ship To” areas of the form to enter the customer and\or the job for which

you are creating the invoice or sales receipt. You may also need to specify additional information if

manually entering customer data, such as selecting the desired sales terms from the “Terms” drop-down

within the form when creating invoices.

At the bottom of the invoice, you list each item bought on its own line by selecting a choice from the

“Item” column in the line item area. For each line item, you also specify the quantity and amount that the

customer owes for that item. Because information about individual items are on separate lines, they are

often called line items. In QuickBooks, you enter line items from entries made into the Item list, so you won’t

have to repetitively enter services or products that you sell frequently. Line items are also not limited simply

to goods or services. You can also enter items like discounts, subtotals, or sales tax lines. When you are

done entering the line items information into your sales form, click “Save & Close” to save the sales form.

If you fill out an invoice, QuickBooks places a record for the invoice into the “Accounts Receivable”

account. If you were filling out a sales receipt, the amount received in the receipt would usually go to the

“Undeposited Funds” account. You can always see how much is in either one of these accounts by drawing

up the Chart of Accounts.

7.3- Creating a Sales Receipt:

If you are taking payment from the customer at the time of sale for a purchase they have made, you

enter the transaction information into a sales receipt. You can create a sales receipt by selecting

“Customers| Enter Sales Receipts” from the Menu Bar. This will bring up the sales receipt screen, which

you use in very much the same way you use an invoice. Also, just as with invoices, you can select which

sales receipt template to use by selecting one from the “Template” drop-down that is available in the upper

right corner of the form.

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Basic Sales

7.4- Finding Transaction Forms:

If you want to find any transaction form at a later point in time, you can use the “Find” feature of

QuickBooks to locate it. To find an invoice, or any other type of transaction, open the associated form for

which you want to search. So using the example of finding an invoice, you would open an invoice. Any

invoice will do, even a blank one.

Next, select “Edit| Find [form type]…” from the Menu Bar, which will bring up the “Find [form type]”

window. You could also just click the “Find” button in the toolbar at the top of the form to open this window,

as well.

In the “Find [form type]” window that then appears, you will have different parameters that you can

fill-in to use as the search criteria. Type what you’re looking for, and then click the “Find” button to bring up

a result set. You can then just double-click on the item you were looking for, shown in the result set, to open

it.

7.5- Previewing Sales Forms:

If you would like to see how the sales form that you are currently entering information into will look in

its printed version, you can click the drop-down next to the “Print” button on the sales form, and then select

“Preview” from the drop-down menu that appears. QuickBooks will display the sales form as it will look

when printed.

7.6- Printing Sales Forms:

When you want to print your invoices or sales receipts, just open the form that contains the

information that you would like to print, and then click the “Print” button at the top of the invoice. That will

bring up the “Print” dialog box, where you can set the printing properties. After you have set any printing

parameters, just click the “Print” button at the right side of this dialog box to continue printing to your

selected printer.

7.3- Creating a Sales Receipt (cont.):

You enter the customer’s information into the sales receipt by either selecting a customer from the

“Customer:Job” drop-down, or by manually entering the customer’s information into the “Sold To” field. You

then enter data into any of the other fields, as needed.

Then you enter the line items used in the sales transaction by selecting the items from the “Item”

column, and then changing the “Qty” and “Rate” or “Amount,” as needed. If this receipt is to be printed later,

just ensure that the “To be printed” checkbox is checked. Once you have entered the necessary sales

information, just click the “Save & Close” button to save the sales receipt and close the window.

In QuickBooks 2003:2005, the bottom of the sales receipt window lets you indicate how you were

paid. It also allows you to deposit the money into one of your accounts. In QuickBooks 2006:2012, money

received is deposited into an “Undeposited Funds” account, by default. There is no “receiving” payment at a

later point in time when using a sales receipt- as you have taken the payment up front. You just save and

close the screen to enter the sale.

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ACTIONS-

Basic Sales SELECTING A SALES FORM:

1. You can create an invoice for a customer by selecting “Customers| Create Invoices” from the Menu Bar.

2. You create a sales receipt by selecting “Customers| Enter Sales Receipts” from the Menu Bar.

CREATING AN INVOICE:

1. To create an invoice, select “Customers| Create Invoices” from the Menu Bar.

2. Change the invoice form by using the “Template” drop-down. This is optional.

3. Select a customer

a. Use the “Customer:Job” drop-down

b. OR type the customer information into the “Bill To” and “Ship To” in the invoice or sales receipt.

4. Specify necessary additional information if manually entering customer data, such as customer “Terms”.

5. Input the line items purchased in the “Item” column.

6. Specify the quantity in the “Qty” field.

7. Input the “Rate” that the customer owes for each line item.

8. Add the “Amount.”

9. If this receipt is to be printed later, just ensure that the “To be printed” checkbox is checked.

10. Click “Save & Close” to save the sales form.

CREATING A SALES RECEIPT:

1. Select “Customers| Enter Sales Receipts” from the Menu Bar.

2. Select a sales receipt template from the “Template” drop-down in the “Sales Receipts” window.

3. Enter the customer’s information into the sales receipt

a. Selecting a customer from the “Customer:Job” drop-down,

b. OR manually enter the customer’s information into the “Sold To” field.

4. Specify necessary additional information, such as “Payment Method”.

5. Input the line items purchased in the “Item” column.

6. Specify the quantity in the “Qty” field.

7. Input the “Rate” that the customer owes for each line item.

8. Add the “Amount.”

9. If this receipt is to be printed later, just ensure that the “To be printed” checkbox is checked.

10. Click the “Save & Close” button to save the sales receipt and close the window.

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ACTIONS-

Basic Sales FINDING TRANSACTION FORMS:

1. Open the type of form for which you need to perform a search. Any form will do.

2. Select “Edit| Find [form type]…” from the Menu Bar, which will bring up the “Find [form type]” window.

3. OR click the “Find” button in the toolbar at the top of the form to open this window.

4. Type what you’re looking for using the criteria boxes provided in the “Find [form type]” window.

5. Click the “Find” button to bring up a result set.

6. Double-click on the item in the result set. This will open it.

PREVIEWING SALES FORMS:

1. Open up the sales form that you want to preview.

2. Click the drop-down next to the “Print” button on the sales form.

3. Select “Preview” from the drop-down menu that appears.

PRINTING SALES FORMS:

1. Open up the sales form that you want to print.

2. Click the “Print” button at the top of the invoice.

3. In the “Print” dialog box that appears you can set the printing properties, as desired.

4. Click the “Print” button at the right side of the “Print” dialog box to continue printing.

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EXERCISES-

Basic Sales Purpose:

To be able to create a basic invoice.

Exercises- 2003:2012:

1. Open up QuickBooks.

2. Select “File| Close Company” from the Menu Bar if you have a company file open, in order to get to

the “No Company Open” dialog box.

3. Click the “Open a sample file” button and select “Sample product-based business” from the drop-

down of choices.

4. Click “OK” on the sample file message box.

5. Select “File| Back Up…” from the Menu Bar and make a backup of this company file, so that you

may restore the file back to its original condition when you are done playing with it.

6. After backing up the file, select “Customers| Create Invoices” from the Menu Bar.

7. Use the “Template” drop-down in the upper right corner of the invoice form to select the “Rock

Castle Invoice” (“Custom Invoice” in QuickBooks 2003:2010) template.

8. Select “Fisher, Jennifer” from the “Customer:Job” drop-down.

9. Click into the “ITEM” column, and type “Removal.”

10. Click into the “QUANTITY” column, and type “40.”

11. Click into the “RATE” column and type “35,” if needed.

12. Click “Save & Close” to create the invoice.

13. You can select “File| Close Company” from the Menu Bar to close the company file when you are

finished.

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QuickBooks Keyboard Shortcuts

General Key

To start QuickBooks without a company

file

Ctrl + double-

click

To suppress the desktop windows (at

Open Company window)

Alt (while

opening)

Display information about QuickBooks F2

Cancel Esc

Record (when black border is around

OK, Next or Previous button)

(Enter key)

Record (always) Ctrl + (Enter

key)

Dates Key

Next day + (plus key)

Previous day - (minus key)

Today T

First day of the Week W

Last day of the weeK K

First day of the Month M

Last day of the montH H

First day of the Year Y

Last day of the yeaR R

Date calendar Alt + down arrow

Editing Key

Edit transaction selected in register Ctrl + E

Delete character to right of insertion

point

Del

Delete character to left of insertion point Backspace

Delete line from detail area Ctrl + Del

Insert line in detail area Ctrl + Ins

Cut selected characters Ctrl + X

Copy selected characters Ctrl + C

Paste cut or copied characters Ctrl + V

Increase check or other from number by

one

+ (plus key)

Decrease check or other form number

by one

- (minus key)

Undo changes made in field Ctrl + Z

Activity Key

Account list, display Ctrl + A

Check, write Ctrl + W

Copy transaction in register Ctrl + O

Customer:Job list, display Ctrl + J

Delete check, invoice, transaction, or item from

list

Ctrl + D

Edit lists or registers Ctrl + E

QuickFill and Recall (type first few letters of

name and press Tab, name fills in)

abc Tab

Find transaction Ctrl + F

Go to register of transfer account Ctrl + G

Help in context, display F1

History of A/R or A/P transaction Ctrl + H

Invoice, create Ctrl + I

List (for current field), display Ctrl + L

Memorize transaction or report Ctrl + M

Memorized transaction list, display Ctrl + T

New invoice, bill, check or list item Ctrl + N

Paste copied transaction in register Ctrl + V

Print Ctrl + P

QuickZoom on report (enter key)

QuickReport on transaction or list item Ctrl + Q

Register, display Ctrl + R

Show list Ctrl + S

Use list item Ctrl + U

Transaction journal, display Ctrl + Y

Moving around a window Key

Next field Tab

Previous field Shift + Tab

Report column to the right Right arrow

Report column to the left Left arrow

Beginning of current field Home

End of current field End

Line below in detail area or on report Down arrow

Line above in detail area or on report Up arrow

Down one screen Page Down

Up one screen Page Up

Next word in field Ctrl +

Previous word in field Ctrl +

First item on list or previous month in register Ctrl + PgUp

Last item on list or next month in register Ctrl+ PgDn

Close active window Esc

Help window Key

Display Help in context F1

Select next option or topic Tab

Select previous option or topic Shift + Tab

Display selected topic (Enter key)

Close popup box Esc

Close Help window Esc

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