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