COMPUTER ACCOUNTING WITH
QUICKBOOKS 2013
CHAPTER 7
Donna Kay
CHAPTER 7 OVERVIEW
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Accounting Cycle
Financial Statement Reports
Tax Reports
Management Reports
Export Reports to Excel
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
ACCOUNTING CYCLE
Throughout the year:
 Chart of Accounts: add, update, and
delete accounts
 Transactions: record using onscreen
forms
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
ACCOUNTING CYCLE
At year-end, prepare:
 Trial Balance
 Adjustments: record with onscreen journal
 Adjusted Trial Balance
 Financial Statements and Reports
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
TRIAL BALANCE
Lists each account and the account balance
at the end of the period
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
ADJUSTMENTS
5 types of adjustment to bring the accounts
up-to-date at year-end:
1. Depreciation
2. Prepaid Items
3. Unearned Revenue
4. Accrued Expenses
5. Accrued Revenues
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
ADJUSTED TRIAL BALANCE
Trial Balance + / - Adjusting Entries = Adjusted Trial Balance
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
GENERAL LEDGER
General Ledger lists for each account:
 Beginning balance
 Transactions affecting each account
 Ending balance
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
REPORTS
Financial Statements
 Income Statement (P&L)
 Balance Sheet
 Statement of
Cash Flows
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
REPORTS
Tax Reports
 Income Tax Preparation Report
 Income Tax Summary Report
 Income Tax
Detail Report
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
REPORTS
Management Reports
 Cash Flow Forecast
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
EXPORT REPORTS TO EXCEL
Export reports to Excel using
the Excel button
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013
TO LEARN MORE …
See Chapter 7
Visit the Online Learning Center
www.mhhe.com/kay2013
Visit
www.myquickbooks.me
COMPUTER ACCOUNTING WITH QUICKBOOKS 2013