By Kathy Ivens
Up-to-date to include information on the latest QuickBooks 2008 and choked with info for accounting pros who are looking to offer additional prone to consumers, this advisor teaches enterprise proprietors and bookkeepers the right way to use the complicated accounting gains, create expert company plans, and research and venture corporation functionality. Easy-to-follow directions, assurance of undocumented good points, and a whole lot suggestions, tips, and shortcuts also are supplied.
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Additional info for Running QuickBooks 2008 Premier Editions: The Only Definitive Guide to the Premier Editions
After you’ve edited existing accounts that lack numbers, you can return to this preferences dialog and enable the option. Chapter 2 • The Chart of Accounts Designing the Number Scheme After you’ve converted your chart of accounts to numbered accounts, you must use the numbers intelligently as you create or edit accounts. It’s best to assign ranges of numbers to account types. You should check with your accountant before finalizing the way you use the numbers, but the example I present here is a common approach.
Press Ctrl-N to create a new account. Select the appropriate account type. Enter an account number Name the account Click the Subaccount check box to place a check mark in it. In the drop-down box next to the check box, select the parent account. 8. Click OK. The new subaccount appears indented below its parent account in the Chart of Accounts window. Creating Subaccounts by Dragging Account Listings You can omit the extra steps of selecting the Subaccount check box and selecting the parent account.
They are created automatically by QuickBooks when you enable features that use those account types, such as Estimates, Purchase Orders, Sales Orders, etc. You can open the account register of non-posting accounts to see the transactions that fall into the appropriate account category, but you don’t have to worry about any amounts impacting your financials. Displaying Accounts Alphabetically in Reports As convenient as it is for you (and your accountant) to have numbered accounts so you can track your finances by category and subcategory, suppose you have to submit financial reports to a bank because that’s part of the requirements of your line of credit?
Running QuickBooks 2008 Premier Editions: The Only Definitive Guide to the Premier Editions by Kathy Ivens