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Calculation and Editing Tricks in QuickBooks 2012

QuickBooks 2012 makes calculating numbers simple. Place the selection cursor in an amount field and then use the following symbol keys to make quick calculations. [more…]

Tracking Your Debits and Credits in QuickBooks 2005

To keep tabs on your debits and credit in QuickBooks 2005, remember: the natural balance for asset accounts is on the left (debit); the natural balance for liability and owner’s equity accounts is on the [more…]

Speedy QuickBooks 2005 Keyboard Shortcuts

Using keyboard shortcuts can save you a lot of time when you’re working in QuickBooks 2005. This guide shows you the PC key combinations to press and the actions that follow: [more…]

Right-Click to Perform Common QuickBooks 2005 Tasks

To perform a common task related to a window in QuickBooks 2005, you can use the right-mouse button to display a shortcut menu. In a register, select and right-click a specific transaction; in a list, [more…]

Some QuickBooks 2005 User Interface Tricks

Quickbooks 2005 is easy to use. To save time and make your accounting easier, use this list of handy user interface tricks when navigating your way through QuickBooks 2005: [more…]

Some QuickBooks 2005 Calculation and Editing Tricks

You can work easily through math calculations in the amount field and edit the date in the date field with calculation and editing tricks in QuickBooks 2005. If the selection cursor is on the amount field [more…]

QuickBooks 2005 For Dummies Cheat Sheet

QuickBooks 2005 is financial software designed to help you easily manage your business accounting tasks. QuickBooks will help you keep track of your accounts and accomplish a variety of tasks by using [more…]

QuickBooks 2012 For Dummies Cheat Sheet (UK Edition)

QuickBooks 2012 makes small-business accounting fast and easy. But your day-to-day business bookkeeping will go even smoother if you employ a handful of QuickBooks keyboard shortcuts along with data-entry [more…]

The Purpose of Accounting for Working with QuickBooks 2012

The most important thing to understand about accounting in order to make the most of your work in QuickBooks 2012 is that it provides financial information to stakeholders. Every accounting function described [more…]

The QuickBooks 2012 Income Statement

Perhaps the most important financial statement that an accounting system like QuickBooks 2012 produces is the income statement. The income statement is also known as a profit and loss statement. An income [more…]

QuickBooks 20120 Balance Sheet

An important financial statement that an accounting system like QuickBooks 2012 produces is a balance sheet. A balance sheet reports on a business’s assets, liabilities, and owner contributions of capital [more…]

The Equity Section of the QuickBooks 20120 Balance Sheet

The owner’s equity section of a QuickBooks 2012 balance sheet looks different for different types of businesses. The owner’s equity sections look different for partnerships and corporations. [more…]

QuickBooks 2012 Statement of Cash Flows

Don’t spend too much time spinning your wheels trying to understand the QuickBooks 2012 Statement of Cash Flows. QuickBooks does supply a statement of cash flows, but you don’t need to use this statement [more…]

QuickBooks 2012 Accounts Receivable and Inventory Reports

A good accounting system such as QuickBooks 2012 produces most popular or useful reports. For example, one very common report or financial statement is a list of the amounts that your customers owe you [more…]

Principles of Accounting for Working with QuickBooks 2012

Accounting rests on a rather small set of fundamental assumptions and principles, which you need to understand when working with QuickBooks 2012. People often refer to these fundamentals as [more…]

Assumptions of Accounting for Working with QuickBooks 2012

There are principles and assumptions that underlie business accounting and that you need to understand when working with QuickBooks 2012. It’s no exaggeration to say that they permeate almost everything [more…]

The Fiddle-Faddle Method of Accounting

The work of preparing financial statements — called accounting or bookkeeping — requires either a whole bunch of fiddle-faddling with numbers or learning how to use double-entry bookkeeping. To produce [more…]

The Accounting Model of Double-Entry Accounting

Here’s the first thing to understand and internalize in order to use double-entry bookkeeping with QuickBooks 2012: Modern accounting uses an accounting model that says assets equal liabilities plus owner’s [more…]

Mechanics of Double-Entry Bookkeeping

With double-entry bookkeeping, you can calculate the account balance for any account by taking the starting account balance and then adding the debits and credits that have occurred since then. By hand [more…]

A Few Words about How QuickBooks 2012 Works

QuickBooks 2012 makes most of the journal entries for you. For example, when you use QuickBooks to record a $1,000 check that pays Acme Supplies for some paper products that you purchased, QuickBooks automatically [more…]

How to Record a Sale or Payment

In order to use QuickBooks 2012, you must understand how to record payments. Accounting principles state that sales revenue needs to be recognized when a sale is made. And that the sale is made when a [more…]

How to Estimate Bad Debt Expense

One other important journal entry you need to understand to get the most out of QuickBooks 2012 when working with accounts receivable is how to estimate bad debt expense. [more…]

How to Remove Uncollectible Accounts Receivable

Regardless of your accounting method or program, whether you're using QuickBooks 2012 or some other program, you will have to clean up your records. If you do set up an allowance for uncollectible accounts [more…]

How to Record Accounts Payable Transactions

Within QuickBooks 2012, you have the option of either working with or without an accounts payable account. If you want to, you can record expenses when you write checks. This means that in order to have [more…]

Inventory Accounting with QuickBooks 2012

Thankfully, most of the inventory accounting that goes on in a business gets handled automatically by QuickBooks 2012. For example, when you purchase an inventory item by writing a check or recording an [more…]

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