Printing out lists of Accounts Receivable and Accounts Payable
In this lesson we will learn how to Print out lists of our Accounts Receivable, and
-Press the Report Centre button, located in the top-middle of your screen, and this will
Recording a Cash Payment to a Supplier
In this lesson we will record the CASH payment; to the supplier we owe money too.
Our supplier is Barney Rubble
We owe him $600 for 20 Nokia Mobile Phones
Select Pay Bills from the Suppliers Menu as shown below.
RECORDING a CASH collection from a CREDIT CUSTOMER
In this lesson, we will record the collection of $90 CASH from the customer Betty
Select Receive Payments from the Customers Menu as shown below;
RECORDING a CREDIT SALE to an EXISTING CUSTOMER
(I.e. Account Receivable)
In this lesson we will record the sale an Item to an existing Customer on credit and then
print out an Invoice (bill) to mail to the customer.
-We will sell 1 Nokia Mobile Phone to
Viewing Financial Statements In QuickBooks
It is now time to see how QuickBooks has recorded all the good work you have done.
In this lesson we will access the Balance Sheet and Profit & Loss statements.
To access reports press the Report Centre button, a
Recording a Cash Sale to an Anonymous Customer
Sometimes you want to record a simple collection of cash from a new walk-in customer
quickly, and you dont want to record their details (name and address).
-We will record the sale of 3 Nokia Mobile Phones to
BUYING an item of stock on CREDIT from a SUPPLIER
Here we will purchase some Inventory, from a supplier, on credit.
The supplier has delivered the Inventory and given us the bill (invoice).
-We will be buying 20 Nokia Mobile Phones from the supplier Barne
CREATING A NEW CUSTOMER
Before you can record any Cash or Credit sales, we will record some customer details, for
our most regular customers.
Here, I will create 2 customers.
Customer 1: Cash Sales
(This will be used as a way of recording on-the-spot Cash
CREATING A SUPPLIER
It is very useful to store the details of a regular supplier of your stock, as this will save us
time recording purchases on credit.
Here we will enter the details of a supplier called;
4/5 Rubble Street
CREATING A STOCK ITEM (to record your Inventory details)
In this lesson we will learn how to enter details for a particular Inventory Item.
The Item is
-Nokia Mobile Phone
Cost Price = $30
Sale Price = $90
-To access the Item list, chose the Lists Menu, a
RECORDING THE INITIAL INVESTMENT BY THE OWNER
Lets imagine Fred Flintstone is investing/giving $50,000 Cash to his business.
In QuickBooks you will need to use particular accounts for this.
The journal entry is going to look like this;
TURNING STOCK TRACKING ON
In order for QuickBooks to correctly handle Inventory transactions, you will need to
change a particular program setting in QuickBooks.
This setting only needs to be set once, and then does not need to be set again.
CREATING A NEW COMPANY FILE
In this lesson we will learn how to create a basic company file.
You are advised to practice with these lessons and then apply your knowledge
to your own QuickBooks assignment.
QuickBooks allows you to create as many company fi