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CHAPTER 3
CHAPTER 3 OVERVIEW
Check RegisterRecord DepositsWrite ChecksReconcile Bank
Statements
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Checking Balance DepositsPayments (Checks)
QUICKBOOKS CHECK REGISTER SHOWS:
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Customer Payments are entered using Receive Payments (Customer section of Home page)
Undeposited funds are customer payments received but not deposited yet
Nonsales receiptscan be entered using Record Deposits window
RECORD DEPOSITS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Can be used to pay:Expenses, such as rent, utilities, and
insuranceNon-inventory items, such as office
suppliesServices, such as
accounting orlegal services
WRITE CHECKS…
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Should NOT be used to pay:Paychecks to employees for wages and
salariesPayroll taxes and liabilitiesSales taxesBills already entered
using Enter Bills window (Vendor section of theHome page)
WRITE CHECKS…
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
One –Step ApproachPay bills when received
Record billPrint check
PAY BILLS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Detect errorsUpdate accounting
records for unrecorded items
RECONCILE BANK STATEMENTS TO:
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Bank statement balanceTO
Company’s accounting records
RECONCILE:
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
ErrorsBank errorsCompany errors
Timing differences:Bank has recorded an item, but the company has not
Unrecorded bank chargesUnrecorded interest earned
The company has recorded an item, but the bank has not
Deposits in transitOutstanding checks
DIFFERENCES BETWEEN BANK STATEMENT AND ACCOUNTING
RECORDS ARE DUE TO:
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
Record interest earned from bank statementRecord bank service charges from bank statementCompare Bank statement with the Reconcile WindowMark deposits that have clearedMark checks that have cleared
BANK RECONCILIATION USING QUICKBOOKS
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
TURN TO CHAPTER 3
VISIT THE ONLINE LEARNING CENTERWWW.MHHE.COM/ULMER2009
VISIT THE STUDENT BLOGWWW.QUICKBOOKSBLOG.INFO
To Learn More....
COMPUTER ACCOUNTING WITH QUICKBOOKS PRO 2009
