QuickBooks Simple Start: Backing Up, the Quick and Dirty Way
You're busy. You don't have time to fool around. You just want to do a passable job of backing up, and you've decided how often you plan to do it. Sound like your situation? Then follow these steps:
1. Insert a blank disk in your drive.
You can back up to any removable disk, including floppy disks, Zip disks, Memory Sticks, and writable CDs.
You can back up to any fixed drive, such as your hard drive or a network drive, but the advantage of a removable drive is that you can store it in some other location. As a compromise, you can also use a network drive. You typically don't want to use your hard drive (although this is better than nothing) because one of the disasters that might befall your data is hard drive failure.
2. If you store data for more than one company, make sure that the company whose data you want to back up is the active company.
To find out if the right company is active, just look at the QuickBooks application window's title bar, which names the active company. (If you don't remember setting up multiple files, don't worry. You probably have only one file — the usual case.
3. Choose File --> Maintenance --> Back Up to begin the backup operation.
QuickBooks displays the Back Up Company File tab of the QuickBooks Backup dialog box.
4. To identify the backup drive, click the Disk option button and then click the Browse button.
QuickBooks displays the Back Up Company To dialog box.
5. Click the Save In drop-down list and select the letter of the drive that you stuffed the disk into.
QuickBooks Simple Start includes two special backup options — Verify Data Integrity and Format Each Floppy During Backup — which appear as check boxes on the Back Up Company File tab of the QuickBooks Backup dialog box. You can select these check boxes to have QuickBooks double-check the data it copies to the backup disk and, if necessary, to have QuickBooks first format the backup floppy disk. As the Back Up Company To tab indicates, however, these options do slow down the backup process.
6. Click Save.
QuickBooks returns to the Back Up Company File tab of the QuickBooks Backup dialog box
7. Click OK.
QuickBooks backs up your company file. When it finishes, it displays a message telling you that the backup worked.
You can also quickly and easily back up your data online. By doing so, you no longer need to remember to make backups and take them off-site. To find out more about online backup, click the Tell Me More button on the Back Up Company File tab of the QuickBooks Backup dialog box. To back up online, click the Online option button and then click OK.
The Online Backup service is a pretty good idea if you have a fast Internet connection, but the service isn't cheap. You pay at least $80 a year and as much as $240 a year depending on the level of service. But you can set up the service so that QuickBooks Simple Start automatically backs up your data on a regular basis.

Accounting Glossary
accounting equation
The equation Assets = Liabilities + Equity, which demonstrates the two-sided nature of accounting and is useful for explaining the concept of double-entry accounting (or double-entry bookkeeping).

Accounting Glossary
accounting period
The time period for which financial information is being tracked in a business, such as monthly, quarterly, or annually.

Accounting Glossary
accounts receivable
An account that records the amounts that customers owe to a business.

Accounting Glossary
adjusting entry
A correction made to a bookkeeping account that adjusts for accounting errors or other necessary changes at the end of the accounting period.

Accounting Glossary
cash flows
Used to describe the source or sources of cash or how cash is used.

Accounting Glossary
Chart of Accounts
A list of all the accounts used by a business, including what types of transactions go into each account.

Accounting Glossary
debit
An accounting entry that increases an asset or expense account, and decreases a liability or income account.

Accounting Glossary
dividends
A portion of a company’s profits paid by share of common stock on a quarterly or annual basis.

Accounting Glossary
FASB
Financial Accounting Standards Board. FASB is the highest-ranking authority in the private (non-government) sector of the U.S. for making pronouncements on GAAP and for keeping accounting standards up-to-date.

Accounting Glossary
Federal Unemployment Tax
In the U.S., the fund that used to be known simply as Unemployment. Employers contribute to the fund, and states also collect taxes to fill their unemployment fund reserves. (The acronym FUTA means Federal Unemployment Tax Act.)

Accounting Glossary
fidelity bonds
A type of insurance — typically carried by employers for their employees — that helps guard against theft and reduce the risk of loss.

Accounting Glossary
FIFO
First-in, first-out. A method for costs of goods sold in which a business charges out product costs to cost of goods sold expense in the chronological order in which the goods were acquired.

Accounting Glossary
fungible
Describes a product that is interchangeable and virtually indistinguishable from another product.

Accounting Glossary
General Ledger
A summary of all of a business’s accounts and transactions.

Accounting Glossary
IASB
International Accounting Standards Board. The IASB (based in London) is the main authoritative accounting standards setter outside the U.S.

Accounting Glossary
Journals
The location in which bookkeepers keep records (in chronological order) of daily company transactions.

Accounting Glossary
LIFO
Last-in, first-out. A method for costs of goods sold that selects the last item you purchased first, and then works backward until you have the total cost for the total number of units sold during the period.

Accounting Glossary
LLP
Limited liability partnership. A legal structure that state laws offer to qualified professionals in which all the partners have limited liability.

Accounting Glossary
PC
Professional corporation. A legal structure that state laws offer to qualified professionals who otherwise would have to operate as an unlimited partnership liability.

Accounting Glossary
petty cash
A cash account that businesses keep on hand for unexpected expenses.

Accounting Glossary
revenue
Monies that are collected in the process of selling a company’s goods and services.

Accounting Glossary
salvage value
The amount that an asset is worth after it has been fully depreciated.

Accounting Glossary
statement of cash flows
A financial statement that summarizes a business’s cash inflows and outflows during an accounting period.

Accounting Glossary
transactions
Economic exchanges between a business or other entity and the parties with which the entity interacts and makes deals.

Accounting Glossary
worker’s compensation insurance
A type of insurance carried by employers that covers its employees in case they are injured on the job.