QuickBooks: Advanced Bookkeeping Techniques

Introduction

• Welcome
• What you need to know
• Using the exercise files

1. Mastering QuickBooks Components

• Tracking details with subaccounts
• Examining profit and overhead
• Examining results with QuickBooks items
• Analyzing job profitability
• Categorizing customers, jobs, and vendors
• Categorizing results with QuickBooks classes

2. Recording Customer Prepayments

• Recording customer prepayments with sales receipts
• Recording customer prepayments with the Make Deposits feature

3. Recording Customer Credits and Refunds

• Applying a credit memo to an invoice
• Refunding customer overpayments
• Correcting a misapplied customer payment
• Reassigning a credit from one customer or job to another

4. Handling Special Income Transactions

• Setting up to sell consignment goods for others
• Selling consignment goods for others
• Setting up QuickBooks to track what you consign to others
• Tracking goods you consign to others
• Bartering with your customers

5. Working with Expenses

• Paying vendor deposits
• Handling vendor refunds and credits
• Converting a check into a bill payment

6. Handling Bounced Checks

• Handling a bounced check from a customer
• Correcting a bounced check that you wrote

7. Troubleshooting Bank Reconciliations

• Troubleshooting a bank reconciliation beginning balance
• Undoing a reconciliation adjustment
• Resetting a reconciliation statement date
• Correcting a reconciled transaction
• Handling uncleared transactions in closed periods

Conclusion

• Goodbye