ch12
DESCRIPTION
TRANSCRIPT
![Page 1: Ch12](https://reader033.vdocuments.site/reader033/viewer/2022061306/54b38f814a7959b8468b46cc/html5/thumbnails/1.jpg)
Create budgets for: Profit & Loss Balance Sheet
Budgets
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Create estimates to bid on customer jobs.
Estimates
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Bill customer as the job progresses Receive partial payment from customer before
the project is complete
Progress Billing
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To process customers’ credit card payments:1. For Payment Method select credit card type.2. Enter Card No.3. Enter Expiration Date.
QuickBooks offersMerchant Account Services to process credit card transactions.
Credit Card Sales
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When a customer fails to pay their account, it is a bad debt or uncollectible account.
Two methods to account for bad debts are: Direct write-off method Allowance method
Bad Debts
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Three methods to record a write-off of an uncollectible account are:1.Make a journal entry.2.Use the Receive
Payments window.3.Use the Credit
Memo window.
Bad Debts
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Audit Trail feature tracks all changes (additions, modifications, and deletions) made to your QuickBooks records.
Audit Trail improves internal control by tracking changes by User ID.
Audit Trail
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Create an Audit Trail report:1. From the Report Center, select Accountant &
Taxes.2. Select Audit Trail.
Audit Trail
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Create a copy of your QuickBooks company file for your accountant to review and update (.QBX file).
Your accountant can make changes while you continue to use QuickBooks.
Accountant’s Copy
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Use the Ask My Accountant account when you are not sure how to record an item.
Ask My Accountant
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Save time. Reduce errors. Set up: Memorized transactions Memorized reports
Save Time
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Now you can attach documents to QuickBooks forms.Example: attach a vendor’s bill when you enter the bill in QuickBooks.
Document Management
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Use apps on your mobile device to stay connected to QuickBooks.
QuickBooks Mobile
QuickBooks Mobile Apps
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Use apps on your mobile device to stay connected to QuickBooks.
QuickBooks Go Payment
QuickBooks Mobile Apps