QuickBooks Training Presentation

QUICKBOOKS ENTERPRISE

Varun Behal, Fidobe Solutions LLC Dubai, UAE Email: Varun@fidobe.com

AGENDA • Learn the features and capabilities of QuickBooks Enterprise 2017.

• Learn the most common problems and their fixes in each area of QuickBooks Enterprise 2017.

• Discover the tricks and tips of the QuickBooks to help you use QuickBooks Enterprise 2017 to its fullest potential.

LEVEL 1 Introducing QuickBooks Getting around in QuickBooks Working with Lists (Masters)

TRAINING PHASE 1

INTRODUCTION TO QUICKBOOKS 1. QuickBooks is easy-to-use, free accounting software designed to help you manage your small business better.

2. It makes estimating, invoicing, accepting payments, and keeping track of your finances quick.

3. Track and bill clients by time & material, job phase, or percentage completion, whatever works best for your unique business.

SYSTEM REQUIREMENTS 1. 2.4 GHz processor recommended.

2. Windows Vista SP2, 7 SP1 or 8.1 Update 1 (32-bit & 64-bit) 3. 1 GB RAM for single user, 4 GB RAM recommended for multiple users.

4. 4x DVD-ROM drive required for installations.

5. Display optimized for 1024 x 768 screen resolution or higher; 16-bit color or higher.

6. 2.5 GB disk space recommended (additional space required for data files).

INDUSTRY–SPECIFIC QUICKBOOKS 1. Enterprise Solutions General Business 2. Enterprise Solutions Contractor 3. Enterprise Solutions Manufacturing & Wholesale 4. Enterprise Solutions Non-profit 5. Enterprise Solutions Professional Services 6. Enterprise Solutions Retail

QUICKBOOKS PRO FEATURES ▪ Payroll ▪ Time Tracking ▪ Advanced Job Costing ▪ Multi-User – Max up to 3 Users ▪ Integration with Excel & Word ▪ Inventory ▪ Price Levels for Customers ▪ Customization of forms

QUICKBOOKS PRO FEATURES CONT… ▪ Budgeting ▪ Vehicle Mileage Tracker ▪ Loan Manager ▪ Fixed Asset Tracker ▪ Cash Flow Projector ▪ Track Multiple Ship to Address ▪ Customer Statement Options

QUICKBOOKS PREMIER FEATURES Includes everything of QB Pro, plus Sales Order / Back orders Multi-User – Max Up to 5 Users – Industry Specific Inventory Assemblies Powerful reports for Accountant Export Report Templates More Journal Entry Options

QUICKBOOKS PREMIER FEATURES CONT… ▪ Create Forecasts ▪ Business Planner Tool ▪ Create Purchase orders from estimates and Sales Order ▪ Per Item Price Levels ▪ Unit of Measurement – Simple ▪ Improved Invoicing for Time and Expenses

QUICKBOOKS ENTERPRISE FEATURES Includes everything in QB Premiere, plus ▪ Up to 30 Simultaneous Users ▪ Improved Multi-user performance ▪ Enhanced security – Role Based ▪ Expanded List Capacity ▪ QuickBooks Employee Organizer ▪ Company Consolidation

QUICKBOOKS ENTERPRISE FEATURES CONT… ▪ Additional reports ▪ Financial Statement Designer ▪ More Journal Entry Options ▪ Unit of Measurement – Advanced

COMPARISON CHART

KEY DIFFERENCES No. of simultaneous users Data file size

Create & e-mil quotes Create & e-mail sales orders Create & e-mail invoices Create & e-mail purchase orders Optimized for larger data files and network usage Print checks, pay bills and manage expenses Track sales and customer payments Track credit cards

ENTERPRISE

PREMIER

PRO

Up to 30

Up to 5

Up to 3

1 GB or more

150-200 MB max

150-200 MB max

✓

✓

✓

✓

✓

NO

✓

✓

✓

✓

✓

✓

✓

NO

NO

✓

✓

✓

✓

✓

✓

✓

✓

✓ .

KEY DIFFERENCES Track sales taxes Manage payroll, payroll taxes and direct deposits Set reminders and create to do lists One-click business reports Import data from previous versions of QuickBooks Import data from Excel Import data from Quicken Import data from Peachtree Download Bank and credit card transactions Multiple currency capabilities

ENTERPRISE

PREMIER

PRO

✓

✓

✓

✓

✓

✓

✓

✓

✓

150+ industry-specific

150+ industry-specific

100+

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

KEY DIFFERENCES Create a budget Forecast sales and expenses Customize your invoices and other forms Create industryspecific reports Track inventory, set reorder points Create inventory assemblies and bills of material Track inventory in multiple warehouses, serial/lot # tracking Free 25GB secure online data backup plan

ENTERPRISE

PREMIER

PRO

✓

✓

✓

✓

✓

NO

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

NO

✓

NO

NO

✓

NO

NO

NO

GETTING AROUND IN QUICKBOOKS Click on Home Icon

GETTING AROUND IN QUICKBOOKS Insight. •

The new homepage displays interactive graph so you get a picture of what's happening in your business with just one glance.

All New Insight DashBoard

NAVIGATION BAR Customize Navigation Bar

CUSTOMER CENTRE ▪ Quickly Navigate through your customer list.

▪ View Customers balances.

▪ Now can also do the essential task like sending email creating notes and task for particular customers

MENUS

The menu bar provides access to all tasks, features, and reporting functions

▪ At the Top of the Screen Down Menus ▪ By clicking the right mouse button -Shortcut Menu ▪ Bottom -Menus

Drop-

The In-product Help provides detailed instructions on how to perform tasks

SETTING UP COMPANY

SETTING UP COMPANY •

When you open QuickBooks for the first time, the Welcome screen will appear.

•

To create new company click on create new company

Click to create new company

COMPANY WIZARD •

QuickBooks provide an interactive Company wizard

•

There are 2 options for company setting up company •

Advance Setup

•

Express Start

Click on It to start interview process

COMPANY INFO Fill in your company name and other basic information about your company.

INDUSTRY •

Select the Industry type for your company.

•

QuickBooks provide industry specific chart of account.

•

So when you select the industry it will populate the default chart of account specific to that industry.

COMPANY TYPE Select the company type according to your organization

FISCAL YEAR Select the month from the drop down list according to your organization settings.

ADMINISTRATOR PASSWORD •

Set-up admin password (recommended) but you can leave these field blank.

•

If you leave these field blank QuickBooks will not ask password when you try to log in the system.

COMPANY FILE •

QuickBooks save the data on a company file.

•

So when you click on the Next it will open up the dialog and ask for the location to save this company file

WHAT ARE YOU SELLING •

Continue answering the questionnaire.

•

QuickBooks will set-up your company configuration based on your answer

SALES TAX •

Whether your company charge sales tax.

•

As per UAE norms there are no taxes so select no.

•

For other countries there can be taxes so you can select accordingly

ESTIMATE If your company send estimate select yes and an icon for estimate will appear on home page,

SALES ORDER •

Select yes if you want to use the sales order.

•

Sales Order and Estimate are just the supporting Docs they have no effect on finances.

Billing Statement Automated statements sent to customer as a reminder for the overdue payments

PROGRESS INVOICING Enable Progress invoicing if your company does the partial invoicing.

MANAGING BILLS This is for managing the bill payment or account receivables.

TRACKING INVENTORY QuickBooks Provide a small inventory management system. To track the quantity available, quantity in stock etc.

TRACKING TIME QuickBooks also provide a small module to track time you can enter time against any task or job

EMPLOYEES Select if you have employees.

TRACKING FINANCE •

Enter the start date from when you want to track your finances.

REVIEW YOUR ACCOUNTS Add or remove the accounts you want according to your company chart of Accounts.

FINAL TOUCHUP Enter the important company configuration 1. People you do business with (Customers and Vendors) 2. Product 3. Bank Account Continue with the setup Complete and Modify Lists- Customers, Vendors, Items, Employees Enter Opening Balances- As of one date before your Start Date.

Enter Historical Transactions- all transactions from the start date to the current date.

PREFERENCES Select Edit -> Preferences from the Menu.

QuickBooks provide you very powerful options that helps you manage your business

HOME PAGE Vendors: Vendor center allow you to keep track of your purchases from various vendors and categorize your expenses. Here you can create and edit your vendor list, make purchase orders, and enter and pay bills and create statements, receive payments and create sales receipts.

HOME PAGE CONT‌ Customers: The Customer area and center allow you to manage your sales to customers. It allows you to create estimates and invoices, track accounts Employees: If you indicated that you have employees in your Easy Step Interview, an Employee center will also be created to manage your employees. But the Employee and payroll module is not usable in Non-US countries.

Company: The Company area of the workflow diagram allows you to manage lists including your chart of accounts and items and service lists.

Banking: The Banking area allows you to record deposits and write and print checks associated with your various bank accounts.

MANAGING LIST (MASTERS) ▪ List Types ▪ List limits ▪ Create Lists ▪ Use Lists ▪ Sort Lists ▪ Customize Lists ▪ Print Lists

LIST TYPES List Types Center Based Lists Customers & Jobs list Vendors list Employee list

Menu Based Lists Item List COA Class List Payroll Item Lists

LISTS List provide you access to all the Masters.

1. Chart of Account 2. Customers 3. Vendors 4. Item List 5. Assets

LIST LIMITS List Name

Maximum

Customer & Jobs

Unlimited

Vendors

Unlimited

Employees

Unlimited

Other Names List

Unlimited

COA

10000

Items

Unlimited

Sales Rep Price Levels

10000 100

Sales Tax Codes

10000

Job Types

10000

Classes

10000

LIST LIMITS CONT… List Name

Maximum

Payment Method

10000

Shipping Method

10000

Customer Messages

10000

To Do’s

10000

Memorized Transactions

14500

Memorized Reports

14500

Payroll Items

10000

A/R and A/P terms

10000

Vendor Types

10000

Customer Types

10000

CHART OF ACCOUNTS QuickBooks Provide a default Chart of Accounts.

You can see the balance in all the accounts.

You can also add account number

CUSTOMER •

Enter the Basic information

•

When you setup the QuickBooks make sure you enter the opening balance for your customer

•

If you have multi currency set-up select the default currency for your customer

JOB INFORMATION Enter the Job information like description, type, status, start date and end date

CREATING A LIST There are 2 ways to create list 1. Enter Manually 2. Importing data. QuickBooks provide some pre-formatted workbooks to import the data. You can also use IIF files that are tab delimited text files.

IMPORTING DATA To import data click File – Utilities – Import Select the appropriate file type.

Click to select file type

IMPORTING Select the type of data you want to import. If you want to import customers click on customers

IMPORTING When you click on customer it will ask for the location of the Excel file

IMPORTING It will give you Excel File enter the data and click add my data now it will begin the import process.

Click on it to start the importing process

ADVANCED IMPORTING The other way to import data is to click on advanced importing

Click on Advanced Importing to map column of the sheet

ADVANCED IMPORTING •

Select the file you want to import and wait for 10 sec till the tile QuickBooks will read the file.

•

Select the appropriate sheet

•

From choose mapping click on new mapping

•

You can also set-up preferences for Duplicate handling and Error handling

ADVANCED IMPORTING ▪ Write the mapping name for future use ▪ Select the import type it will display you all the necessary columns ▪ Click on any row in it will open up a drop down list ▪ You can map the QuickBooks Column to the import data column and click Save ▪ One you have created a mapping click on the import button.

USING LIST 1. Add Entry 2. Modify Entry 3. Delete Entry 4. Merge Entry 5. Hide Entry (Make Inactive)

SORTING LIST 1. Sort Using Column Headings 2. Restore List Order 3. Sort a list Manually 4. Sort a list automatically

CUSTOMER CENTRE â–Ş Click on header bar to sort ascending or descending according to that column â–Ş To reset the order right click and click on re sort list

Click on header bar to Sort List ascending or descending

CUSTOMIZE LISTS ▪ Center-Based Lists ▪Customize view ▪Customize Transaction Pane ▪ Menu-Based Lists ▪ Customize Columns

CUSTOMIZE LIST Select the filter from the drop down to customize your view. You can also create your own custom views by clicking on custom filters.

Click on the dropdown to see some predefine filters

PRINTING LIST To print List go-to reports-lists then select the list and click on print button.

Click on print to print the list

TRAINING PHASE 2

AGENDA

1. Financial Statement Part1

FINANCIAL STATEMENT-PART 1 ▪ Financial Statements ▪ Account Types ▪ Add Accounts/Subaccounts ▪ Collapse Financial Statements ▪ Your Financial Statements

FINANCIAL STATEMENTS ▪ The chart of accounts is a complete list of your business accounts and their balances.

▪ In QuickBooks, Business chart of Accounts is its Financial Statements.

▪ QuickBooks automatically created a Chart of Accounts for any business in Step 1.

▪ Chart of Accounts includes five types of accounts: income, expense, asset, liability and equity.

▪ By categorizing all transactions this way, business is able to easily create balance sheets, income statements, and other important financial statements for your business.

FINANCIAL STATEMENTS CONT… Balance Sheet- financial snapshot of any business ▪Assets ▪Liabilities ▪Equity Profit & Loss Statement-measures activity over a specified time period.

▪Income ▪Expenses

ACCOUNT TYPES QuickBooks uses the following sort order for the chart of accounts: ▪ Income and expense accounts ▪ Balance sheet accounts ▪ Non-Posting Accounts

Note:- Non-Posting accounts are created automatically by QuickBooks when you enable features that use those account types, such as Estimates and Purchase Orders.)

INCOME AND EXPENSE ACCOUNTS Account Type

Purpose

Income

Categorizes money earned from normal business operations, such as product sales, service sales, and discounts to customers.

Other Income

Categorizes money your business earns that is unrelated to normal business operations, such as dividend income, interest income, and insurance reimbursements.

Expense

Categorizes money spent in the course of normal business operations, such as advertising and promotion, office supplies, insurance, legal fees, charitable contributions, and rent.

Other Expense

Categorizes money your business spends that is unrelated to normal business operations, such as corporation taxes and penalties and legal settlements.

Cost of Goods Sold

Tracks the direct costs to produce the items that your business sells, such as cost of materials, cost of labor, subcontractors, and shipping.

BALANCE SHEET ACCOUNT Account Type

Purpose

Bank

Tracks money you have in your cash accounts. Create one for each cash account, such as petty cash

Accounts Receivable

Tracks money your customers owe you on unpaid invoices. Most businesses require only the A/R account that Enterprise Solutions automatically creates after you create your first invoice

Other Current Asset

Tracks the value of things that you can convert to cash or use up within one year, such as prepaid expenses, employee cash advances, inventory, and loans from your business.

Fixed Asset

Tracks the value of significant items (consult your tax professional for a minimum dollar amount) that have a useful life of more than one year, such as buildings, land, machinery and equipment, and vehicles

Other Asset

Tracks the value of things that are neither Fixed Assets nor Other Current Assets, such as Goodwill, long-term notes receivable, and security deposits paid.

BALANCE SHEET ACCOUNT CONT‌ Account Type

Purpose

Accounts Payable (AP)

Tracks money you owe to vendors for purchases made on credit. Most businesses require only the A/P account that Enterprise Solutions automatically creates after you create your first invoice.

Credit Card

Tracks credit card purchases, bills, and payments. Create one for each credit card your business uses.

Other Current Liability

Tracks money your business owes and expects to pay within one year, such as sales tax, security deposits/retainers from customers, and payroll taxes.

Long-Term Liability

Tracks money your business owes and expects to pay back over more than one year, such as mortgages, long-term loans, and notes payable.

Equity

Tracks money invested in, or money taken out of, the business by owners or shareholders. Payroll and reimbursable expenses should not be included.

Select the account type

ACCOUNTS To create an account select the account type.

Click on the checkbox to create sub-Account

SUB ACCOUNTS To create a Sub Account click on the checkbox Sub Account of and select the parent account of which the new account is Sub Account

Select the parent account

COLLAPSE FINANCIAL STATEMENTS Collapsed Statement showing the Net income and Expenses.

Sort Based On Time criteria

BALANCE SHEET Select The time-frame for which you want the report to display the records.

Sort Based On Total Asc and Desc

AGENDA

2. Financial Statement Part2

FINANCIAL STATEMENT-PART 2 ▪ Account Numbers ▪ Journal Entries ▪ Classes ▪ Combine Financial Statements

ACCOUNT SETTINGS •

You can Turn On and Off the account number.

Click The CheckBox to On/Off Account number

JOURNAL ENTRIES QuickBooks will give you the option to allow the program to automatically create two journal entries for you.

Make Journal entry Show List Of Journal Entries Find Journal Entries Make Adjusting Journal Entry Display Journal Entry Listing Reverse Journal Entries

JOURNAL ENTRY

Select the Currency in which you want to make entry

Reverse Entry

Click Here to make adjustment entry

To Make Journal Entry Goto Company from the tool bar and click on Make journal Entry

Filter The record based on time frame

ACCOUNT SETTINGS •

You can Turn On and Off the Classes.

•

Classes can also be understood as Cost Centers.

•

You can also prompt top assign classes every time you do a transaction.

Click The Check-Box to On/Off Classes

CLASSES •

To Create classes go to Lists click on Classes and Click new.

•

To create Subclass click on the subclass and select the parent class from the drop Down

Click here to create subclass

PROFIT & LOSS STATEMENT BY CLASS •

You can review Profit and loss statement by classes.

•

This will give you the status of the various classes or cost centres.

COMBINE FINANCIAL STATEMENTS •

To Access Combined Reports GoTo Reports – Combined Reports.

•

Add Company Files If needed

•

Select the date range.

•

Select the report from the report.

Add Companies

Time Filter

Available Reports

Name On report

COMBINED REPORT •

When you click on the combined report it will create a combined report on the excel format.

•

QuickBooks also provide various options to modify the excel format.

TRAINING PHASE 3

AGENDA

1. Items

ITEMS ▪ Understanding Items ▪ Item types ▪ Add Items ▪ Reports

UNDERSTANDING ITEMS Items are the things you sell (whether they’re products or a service) that appear on your invoices when you send an invoice to a customer.

▪ Items are also what QuickBooks uses to link the services or products you sell to the right income and cost of goods sold accounts in your chart of.

Functions▪ Any line Item on a purchase order, Invoice, or estimate must be set up as an Item.

▪ Makes it easier to fill out sales form.

▪ Items act as a pointer for the financial statements.

▪ Items allow you to track quantities purchased and sold in addition to dollars purchased and sold.

Note: Each of your items must have a code, a unique identifier (QuickBooks calls that the Item Name/Number).

Item types

ITEM TYPES •

To Create item GoTO Lists - Items.

•

QuickBooks Provide predefined Items types for your business.

BILLS OF MATERIALS

Define BOM Here

▪ When you create Inventory Assemblies you have to define BOM to define the assembly ▪ The Bill of Material (BOM) form is used to assemble inventory items and track their costs (including labor and overhead) accurately.

▪ Bill of Materials each carry a cost, and the total cost becomes the posting to Cost of Goods when you sell the assembly.

Set cost preference

Item Type

Description

Use if you

Service

Services provided to or from others

Buy or sell services

Inventory Part

Inventory you purchase, track as inventory, and then sell

Track quantities, value and number on order of inventory

Non-Inventory Part

•Material or parts for which you do not track quantities •Materials or parts you buy but do not sell •Materials or parts you sell but do not buy

•Do not track the quantity of inventory •Purchase items that are not sold •Sell items that are not purchased

Inventory Assembly

Inventory items you assemble from other inventory, non- inventory, inventory assembly, other charge and service and then sell

Assemble finished goods from components

Other charge

Miscellaneous charges

Show Freight, handling, or delivery charges on PO or invoice

Subtotal

Used to calculate subtotals

Show subtotal on invoice or PO

Group

Allows fast entry of a group of individual items

Often sell or buy the same group of items

Discount

Calculates an amount to be subtracted from a total or subtotal

Give or receive discounts off the sales price

Payment

Shows Payment received on an invoice

Pay funds before preparing invoice

Sales Tax Item

Calculate a single sales tax

Charge customer a sales tax

Sales Tax Group

Calculates two or more sales tax grouped together on the same sale

Charge customers for a combination of sales tax rates as one line item on invoice

ADD/DELETE ITEM Enter an item Name, Description, and Rate that you want to appear on your invoices.

Enter the income account where you want the income for this item to appear on your Profit and Loss Statement. When done, click Next.

Enter rate

Enter UOM

Account in which entry is posted

DUPLICATE ITEM To create a clone of item right click on the item you want to duplicate.

Click duplicate it will copy all the information on the new item click save.

ITEM REPORTS •

QuickBooks provide many reports to track your product performance.

SALES BY ITEM Review the Sales by Item and keep track of fast moving and slow moving products.

TRAINING PHASE 4

AGENDA 1. Customer & Sales-Part 1 2. Customer & Sales-Part 2

CUSTOMERS & SALES -PART 1 ▪ Customers and jobs ▪ Estimates ▪ Invoice ▪ Invoice from Estimates ▪ Invoice for Time & Costs ▪ Invoice from Scratch ▪ Print Invoices ▪ Reports

CUSTOMER & JOB •

To Access customer and job either you can click on the customer on the top or click on the customer in blue highlighted box to access customer center.

Customer Centre

CUSTOMER CENTER •

Customer center give the information about the customer and their jobs.

•

You can see the transaction. Notes and task you have created for that customer or job

Customer and their respective jobs

Detail about specific customer

Enter Opening Balance

Customer‘s default currency

ADDING CUSTOMER •

To Add Customer right click in customer center and click on new customer.

•

Fill in the basic info.

•

Select Default currency from the active currency list.

•

Set opening balance.

Ship To and Bill To address

CUSTOMER’S PAYMENT INFORMATION When you create new customer it will ask for the credit limit and default payment term for the customer.

Fill in the required accounting information.

Payment Term

Set Credit limit

Opening Bal for Job

JOBS •

Create a Job, Job can be considered as a project attached to a customer.

•

In QuickBooks Job cannot be stand alone.

It is always linked to a customer.

•

You can assign the opening balance for the job

Linked Customer

JOBS â–Ş Put job description and its starting and ending date

JOBS AND ESTIMATE •

Change text

You can change the status text according to your business terminology.

Turn On and Off the Estimates

Select the customer and job

ESTIMATES •

Estimates are similar to the Sales Quotes.

•

An estimate is a form you use to itemize the work you propose to do or the products you intend to sell to a customer

•

Select the Customers or Job.

•

Enter the line items.

Line Items

ESTIMATE ACTIONS •

You can Right Click on any where except on the line items in Estimate to copy, delete, or insert lines.

•

You can also duplicate the Estimate or memorize it for future use

•

You can also attach a file with the Estimate.

•

Run Quick reports to see the details.

Attach File

Right Click here

Convert it into SO or Invoice or raise a PO

Select The customer or Job

INVOICE To create an Invoice either GOTO customers and create invoice, or from Home Page you can click on invoice, or you can directly convert SO or SQ to invoice discussed in previous slide,

Select to create Invoice

Pop-Up showing pending sales order

PROGRESS INVOICING •

You can turn On and Off the Estimate and progress Invoicing.

•

Progress invoicing (also known as progress billing) lets you invoice for jobs that you work on and complete in phases.

Change text

Turn On and Off Progress Invoicing

PROGRESS INVOICING •

•

When you will select the open SO or SQ it will open up a pop-up with three options.

•

100% Payment

•

% of estimate

•

Selected item and different %

Select the appropriate options then QuickBooks will guide you through.

INVOICE FROM THE SCRATCH •

Select the customer you want to Invoice

•

Fill in the different line items

•

Assign class

•

Click on Save & Close or Save & New

Select Customer

Select Class

Line Items

INVOICE FROM TIME AND COST •

Click on Add Time/Costs it will open up a pop up. Fill it the detail and submit.

•

It will create an invoice and the invoice will be charged based on time and rate.

PRINT AND EMAIL INVOICES •

Invoice can be printed or email from the nav-bar.

•

QuickBooks also provide the batch functionality to print and email invoice.

Click to view Reports

Print and Email Invoice from here

REPORTS •

QuickBooks Provide some informative reports about the actual sales.

•

You can click on the top nav-bar on Invoice form for reports

CUSTOMERS &SALES –PART 2 ▪ Receive Payments ▪ Sales receipts ▪ Make Deposits ▪ Credit Memos ▪ Customer Statements ▪ Reports

RECEIVE PAYMENTS When you get money from a customer, you must receive the payment in Enterprise Solutions so that you can record the transaction and mark the invoice as being paid. When you receive a payment, the accounts receivable records are updated, and the payment is ready to be deposited into an account.

UN-DEPOSITED FUNDS If you select Use un-deposited fund QuickBooks will save all the money in a undeposited fund account.

Which can be deposit in bank If unselect the un-deposited fund checkbox QuickBooks will ask every time in which account money is to be deposited

Click to record receive payment in Un-deposited funds account

SALES RECEIPTS Sales receipt is the form you use when you make a sale for which you receive full payment at the time of the sale. Sales receipts can include payments by cash, check, or credit card.

MAKE DEPOSITS When you receive a payment from a customer, you can either deposit the payment into a bank account immediately, or you can wait until a later time to make the deposit.

CREDIT MEMOS A credit memo reduces a customer balance.

This is necessary if a customer returns goods, has been billed for goods that were lost or damaged in shipment, or otherwise wins an argument about the price of a service you provided.

CREDIT MEMO •

When you will fill the Credit Memo and click Save it will open up a pop up to record the credited amount.

• Retain as an available credit.

• Give a refund • Apply to an Invoice

ISSUE REFUND CHEQUE When you select the second option “Give a refund” it will open up a dialog box asking to enter the necessary information to issue a cheque

SALES ORDER •

A sales order is a tentative document, on hold until there is sufficient inventory to fill it or until pricing is approved by management

CREDIT CARD CHARGES To enter credit card charges click on Banking then enter Credit Card Charges.

CUSTOMER STATEMENTS To create customer statement go to to customer menu select the create statement.

Select the time period select the customer/customers.

STATEMENT When you will click on preview it will generate a statement.

You can Print or E-mail the statement.

REPORTS QuickBooks provide separate reports for Customers & recievables.

REPORT Open Invoice shows all the open invoices by customer

REPORT A/R Aging shows the receivables from the customer and by the number of days it is pending.

TRAINING PHASE 5

AGENDA

1. Vendors & Expenses Part 1

VENDORS & EXPENSES ▪ Vendors ▪ Track Accounts Payable ▪ Bill Payment Stubs ▪ Write Checks ▪ Void vs. Delete Checks ▪ Petty Cash ▪ Reports

VENDORS •

The vendor list holds information about the people and companies you buy goods and services from to run your business;

Click To access vendor center

VENDOR CENTER •

Vendor center give the information about the Vendor.

•

You can see the transaction. Notes and task you have created for that vendor.

•

You can also see the Quick Report.

Customer and their respective jobs

Detail about specific customer

ADDING VENDOR •

To Add Vendor right click in customer center and click on new vendor.

•

Fill in the basic info.

•

Select Default currency from the active currency list.

•

Set opening balance.

Enter Opening Balance

vendor ‘s default currency

Ship To and Bill To address

VENDOR’S PAYMENT INFORMATION When you create new vendor it will ask for the credit limit and default payment term for the customer.

Fill in the required accounting information.

Payment Term Set Credit limit

TRACK ACCOUNTS PAYABLE ▪ Steps If you Use Accounts Payable ▪ Enter Bills ▪ Pay Bill ▪ Print Check ▪ Steps if you DO NOT use Accounts Payable ▪ Write Check ▪ Print Check

ENTER BILL

Click to do the advance payment

•

To pay bill select the vendor from the drop down list. It will open up the pending order select the order it will automatically populate the line item.

•

To do the advance payment or prepayment click on credit and fill in the amount.

PAY BILL •

To pay bill click on the vendor and select the pay bill.

•

It will open up all the unpaid bill.

•

Select the bill you want to mark paid.

•

Then click Save and Close

Select Discount

BILL PREFERENCES •

To automatically apply discount and credit click on the edit – preferences.

•

Then go to bill.

•

Select automatically apply credit and automatically apply discount accordingly

Click to use credit automatically

Click to apply automatic discount

DISCOUNT AND CREDITS •

When you pay bill to apply discount click on the set discount.

•

It will open up a window enter the discount or credit in their respective tab

•

Click Done to apply.

PRINT CHECKS •

In order to print checks click on the print checks on the Home Screen.

•

It will open up a window with all the listed transactions.

•

Select the transaction by clicking on them

•

And click ok it will print the checks for the transaction.

•

This module works properly in US as it is specifically design for US

•

TNC has developed it’s own module for Check Management and printing.

Click to print checks

BILL PAYMENT STUBS •

To access Bill Payment Stub.

•

Click on Files – Print Forms-Click Bill Payment Stub

•

It will open up a window with all the Bills.

•

Select the bills and click Ok

Bill Payment Stub

Select the bills

WRITE CHECKS •

To write checks click on the write checks on the Home Page.

•

It will open up write check form select the contact.

•

Fill in the amount and click save and close

Click to write Checks

DELETE / VOIDDelete or mark CHECKS check void •

To delete or marks check as void click on delete on top nav-bar

•

Click on the down arrow button below delete icon and select the appropriate options

PETTY CASH ▪ Set Up Petty Cash ▪ Fund Petty Cash ▪ Use Petty Cash

SET-UP PETTY CASH •

Click on New Account.

•

Select the Account Type as Bank.

•

Enter The Account Name as Petty Cash.

•

If you have opening balance click on enter opening balance.

USE PETTY CASH Select the Bank Account as petty cash while writing the checks

Select Petty Cash

REPORTS •

You can see the customized reports for Petty Cash Account.

•

Go to customized report and click on filter tab and select Petty Cash Accounts

Check detail for Petty Cash Accounts

TRAINING PHASE 6

AGENDA

1. Vendors & Expenses Part 2

VENDORS & EXPENSES –PART 2 ▪ Credit Memos ▪ Reconcile Bank Acount ▪ Reports

CREDIT MEMOS ▪ Enter Credit Memos ▪ Apply Credit Memo  Discount and Credits  Pay Bills-Apply Credit  Assign Check Numbers

ENTER CREDIT MEMO •

Click on credit on write check window.

•

Select the items tab and fill in the line items.

•

Click on save to enter the credit memo.

To enter credit click here

APPLY CREDIT MEMO •

To apply credit memo select the bills and the click on the set credit.

•

If you have available credit for a vendor it will show up the amount.

•

When you click on the Set Credit it will open up a window.

•

Enter the credit value you want to apply.

To Set Credit click on set credit

RECONCILE BANK ACCOUNT ▪ Reconcile Account ▪ Locate Discrepancies

BANK RECONCILIATION Enter the Ending balance

Click Continue

Click The columns for matching entries

LOCATE DISCREPANCY Discrepancy reports shows the changes made prior to last reconciliation

Click to see the previous passed transactions

Click to locate discrepancy

REPORTS

AGENDA

Manage Inventory

PURCHASE ORDER Enter Purchase Order to request the items and when you do the receive inventory it will update your stock.

RECEIVING INVENTORY •

When you click on receive inventory on Home Page.

•

A drop down will appear with 2 options

•

Select the appropriate option whether you want to receive inventory with Bill or without bill.

•

Your stock will only get updated only when you receive inventory.

Options while receiving inventory

REPORTS Inventory Stock status gives you a detailed reports about the stock quantity of all the items,

Fidobe Solutions LLC.