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    QuickBooks Bookkeeping 2012

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    QuickBooks Setup

    1.1 What information is required before they set up a QuickBooks file?

    1.2 How to start a new company data file in QuickBooks (Easy Step Interview)?

    1.3 How to keep the lists and preferences from an old file while removing old transactions?

    1.4 How to customize the home page?

    1.5 How to set up lists (customers, vendors, items, etc.). This includes understanding which names and items should appear on which lists?

    QuickBooks Utilities and General Product Knowledge

    2.1 How to navigate or move around QuickBooks (use home page, menus, icon bar, etc.)?

    2.2 How to back up and restore a data file?

    2.3 How to determine the release number and how to update QuickBooks?

    2.4 How to use QuickBooks in single-user and multiuser mode?

    2.5 What versions and editions of QuickBooks are available for a specific year (desktop version)?

    2.6 How to password protect QuickBooks?

    2.7 How and why to use preferences?

    List Management

    3.1 How to manage lists (customers, vendors, items, etc.). List management include:

    3.1.1 Adding new entries?

    3.1.2 Deleting entries?

    3.1.3 Editing entries?

    3.1.4 Merging entries?


    4.1 How QuickBooks uses items to perform the necessary accounting entries?

    4.2 The different types of items and when to use each type?

    4.3 How to use items for different types of scenarios. These include companies that sell:

    4.3.1 Products for a specified price?

    4.3.2 Services for a specified price?

    4.3.3 Unique products or services that have different prices for each sale?


    5.1 Who should be listed in the Customer Center?

    5.2 How to navigate and use the Customer Center?

    5.3 How to complete the workflow (from the sale to making the deposit) for:

    5.3.1 Invoicing (A/R)?

    5.3.2 Sales Receipts (no A/R)?

    5.4 How QuickBooks uses the Undeposited Funds, Accounts Receivable, and checking accounts in the invoicing cycle?

    5.5 How and why to record a customer credit?

    5.6 How and why to create statements?

    5.7 How to handle bounced (NSF) checks?

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    Solution Preview

    Sources: Running QuickBooks 2012 Premier Editions by Kathy Ivens and Tom Barich. CPA911 Publishing © 2011
    Missing manual, Quickbooks 2012 - Google this manual and download it (unfortunately, the size is too big to be attached to this message). This is where most of my answers came from.

    QuickBooks Setup
    1.1 What information is required before they set up a QuickBooks file?
    Plan on spending at least a few hours to get the QuickBooks software installed, set up, and running.
    Check the following information first: Source: Intuit Inc.
    Hardware and Software Requirements
    The following is an overview of the minimum system requirements for QuickBooks. For the most
    accurate and up to date list of requirements, visit www.quickbooks.com/installation.
    Processor, memory, and disk space for QuickBooks Pro and Premier on Windows
    7, Vista, or XP
    • At least 2.0GHz processor (2.4GHz recommended)
    • At least 1GB of RAM for a single user
    • At least 2GB of RAM for multiple, concurrent users
    • 2.5GB of disk space (additional space required for data files)
    Disk space requirements for additional software
    • 250MB for Microsoft .NET 4.0 Runtime, provided on the QuickBooks CD
    Additional hardware and software
    • Operating systems supported (U.S. versions with Regional Language set to U.S. English
    Windows 7 (including 64-bit)
    Windows XP (SP3 or later)
    Windows Vista (SP1 including 64-bit)
    • 4x CD-ROM drive required for CD installations
    • 1024x768 or higher screen resolution is required
    Database server requirements
    • Microsoft Windows XP (SP3 or later), Vista (SP1 w/UAC on), 7 (w/UAC on), Windows Server
    2003 (SP2), Windows Server 2008, Small Business Server 2008
    • Linux is supported for Enterprise Solutions only (Fedora 15)
    File server only requirements
    Novell Small Business server or Linux file servers can be used with advanced configuration;
    performance will be impacted on networks running less than 100Mbps.

    Next: source:
    ulti-user checklist for new users
    1. Go to the computer where you want to store your QuickBooks company file
    (your data).
    2. During installation choose Custom and network options and select one of the
    following choices:
    • Select I'll be using QuickBooks on this computer if you will run QuickBooks
    but don't need to share the company files from this computer.
    • Select I'll be using QuickBooks on this computer, AND I'll be storing our
    company file here... if you will run QuickBooks and share company files.
    • Select I will NOT be using QuickBooks on this computer. I will be storing
    our company file here... if files need to be shared but no one runs
    QuickBooks on this computer.
    3. Use Windows Explorer to create a shared folder on the computer where your
    company file will be stored (the computer in step 1). Give everyone who needs
    to access the company file on it full control permissions.
    4. Make a note of the computer name and shared folder so you can set up the
    other computers to access it.
    5. Install QuickBooks on the other computers in your network and choose
    Express from the Installation Type choices.
    6. Start QuickBooks on one of the computers and choose the Express Start
    option in the QuickBooks Setup Wizard to create your company file.
    7. When asked to enter your business contact information, click the Preview Your
    Settings button and change the location of your company file to the shared
    folder you created in step 3.
    8. Confirm each computer can access your company file: Start QuickBooks on
    each computer, browse to the company file in the shared folder that you
    created in step 3, and open it.
    9. In QuickBooks, go to the Company menu and click Set Up Users and
    Passwords to set up your users and grant them permission to access the
    company file.

    If you're new to QuickBooks and have multiple users,
    use this checklist to set up your QuickBooks network.
    ©2011 Intuit Inc. All rights reserved. Unauthorized duplication is a violation of applicable law. Intuit, the Intuit logo, Simple Start
    and QuickBooks are registered trademarks and/or registered service marks of Intuit Inc. Other parties' trademarks or service
    marks are the property of their respective owners. See www.quickbooks.com/eula for the Software License Agreement. PN 502147

    Multi-user checklist for upgraders
    If your company files are on a computer where QuickBooks is installed:
    1. Install using the Express option on all computers you plan to use with
    2. To update your company file, open it in QuickBooks and follow the prompts
    to update the file.
    Note: Don't worry—QuickBooks will have you create a backup of your data
    as part of the update process.
    3. To confirm that each computer can access your updated company file, open
    QuickBooks on each computer, browse to the company file, and open it.
    If your company files are on a separate file server:
    1. Go to the computer that contains only the QuickBooks database server
    and your QuickBooks company file.
    2. Install using the Custom option and select, I will NOT be using QuickBooks on
    this computer.
    3. Install using the Express option on all computers you plan to use with QuickBooks.
    4. Update your company file: Don't worry—QuickBooks creates a backup of
    your data as part of the update process.
    4.1 Move your company file to a computer where you installed Full QuickBooks
    with Database.
    4.2 Open the file in QuickBooks and follow the prompts to update your
    company file to work with your new version of QuickBooks.
    4.3 Move the updated company file back to the server.
    4.4 Turn hosting off on the computer that converted the file.
    5. Confirm that each computer can access your updated company file:
    • Open QuickBooks on each computer, browse to the company file on
    the server, and open it.

    1.2 How to start a new company data file in QuickBooks (Easy Step Interview)?
    Source: http://support.intuit.ca/quickbooks/en-ca/iq/Company-File/Create-a-new-company-file/HOW16224.html

    Create the Company File
    After QuickBooks is installed, you'll be able to begin creating your Company File. This step is important because you will be able to immediately start tracking your business income, expenses, customers, and tax obligations. It's really easy!
    STEP 1: Express Start, Detailed Start, or Create?
    For this article, we will be using the Express Start option.
    • If you are new to QuickBooks, click Express Start. The software will present some screens asking for some of your company information. This is an easy and accurate way to begin using QuickBooks.
    • If you have used QuickBooks before, Detailed Start will allow you to choose custom setup options for your company file. This is the setup interview format that was used in previous versions of QuickBooks. This option is not recommended for new QuickBooks users.
    • Select Create if you wish to create a new company file based on existing one. Quickly create a new company file by copying the preferences and key lists like the chart of accounts from an existing company file.
    Step 2: Tell us about your business:
    a. In this screen, enter your Company Information as best possible.
    b. In the Industry field, Start typing your Industry and QuickBooks will automatically populate a dropdown with pre-defined industries. The selected industry will be used by QuickBooks to start setting up your file. This is a new feature in QuickBooks
    c. If you don't have a CRA # or PST/QST #, don't worry, You can leave it blank until the time comes to get one. That could be years!
    d. If you need help on this screen, click Help me Choose or the Blue question marks.
    e. Click Continue to advance to the next screen.
    Step 3: Enter Business Contact Information:
    a. In this screen, QuickBooks is looking for the information you want listed as your company's contact information. Legal name, address, email, etc will all be entered here.
    b. Make sure and be thorough with entering the information here. It will save you time when you are trying to print or email invoices and forms to vendors and customers.
    c. If you would like to view the information entered before you finish, click Preview Your Settings.
    d. Click Create Company File when you are finished and ready to start working.

    1.4 How to customize the home page?
    Customizing the Home Page
    Since QuickBooks automatically displays its Home page when you launch the program,
    you probably know that this window lets you access almost any accounting
    task. The Home page has three horizontal panels for tasks related to vendors, customers,
    and employees (Figure 23-5 shows the Vendors and Customers panels). The
    Company Preferences tab of the Desktop View category is where you can customize
    what appears there.
    Note: If the checkboxes for invoices or bill-payment tasks are dimmed and you want to remove those
    tasks from the Home page, you first need to turn off other preferences. For example, for invoices, you
    have to turn off the Estimate and Sales Orders preferences (in the Jobs & Estimates and Sales & Customers
    preference categories, respectively). Click the "How do I remove this feature icon from the Home page?"
    link to read a Help topic that lists the settings you need to change.

    1.5 How to set up lists (customers, vendors, items, etc.). This includes understanding which names and items should appear on which lists?

    Setting Up Vendors
    Creating and editing vendors is similar to creating and editing customers: You can
    add them one at a time or create them all at once. The New Vendor window lets you
    create one customer at a time. The next section describes how to use the New Vendor
    window and the fields that are unique to vendors.
    Tip: You can create a vendor record when you create that vendor's first bill . Simply choose
    <Add New> in the Enter Bills window's Vendor drop-down list.
    You can use the QuickBooks Setup window to import vendor information from
    your email program or copy and paste data from Microsoft Excel, as described on
    page 26. The Add/Edit Multiple List Entries feature lets you paste data from Excel or
    copy values from vendor to vendor. You can read how to use it on page 100.
    Importing vendor information into QuickBooks is another fast way to create oodles
    of vendor records. After you create a map between QuickBooks' fields and fields
    in another program, you can transfer all your vendor info with one command, as
    described on page 105.
    The Vendor Center makes creating, editing, and reviewing vendors in QuickBooks
    a breeze. Like the Customer Center (page 41), the Vendor Center lists the details
    of your vendors and their transactions in one easy-to-use dashboard. To open the
    Vendor Center window, use any of the following methods:
    • Choose Vendors➝Vendor Center.
    • On the left side of the QuickBooks Home page, click Vendors.
    • In the icon bar, click Vendors.

    Customer Type List
    Customer types help you analyze your income and expenses by customer category
    (page 548). For example, a healthcare provider might create Govt and Private customer
    types to see how much a change in government reimbursement might hurt
    You first create customer types in the Customer Type List and then assign one of
    those types in each customer's record. Creating all your customer types up front is
    fast—as long as you already know what entries you want to create:
    1. Choose Lists➝Customer & Vendor Profile Lists➝Customer Type List. When
    the Customer Type List dialog box opens, press Ctrl+N.
    The New Customer Type window (Figure 6-3) opens.
    2. Create the customer type.
    Enter a name in the Customer Type field and indicate whether the customer
    type is a subtype of another.
    3. Click OK if you're done, or click Next to create another type.
    You can also create entries as you work: If you're creating or modifying a customer
    in the New Customer or Edit Customer dialog box, click the Additional Info tab. In
    the Type drop-down list, choose <Add New>, which opens the New Customer

    QuickBooks Utilities and General Product Knowledge
    2.2 How to back up and restore a data file?
    Choose File➝Create Backup.
    • On the icon bar, click Backup. If you don't see the Backup icon, which looks
    like a floppy disk, click the double arrows (>>) on the right end of the icon bar,
    and then choose Customize Icon Bar
    Choose File➝Create Copy, select the "Backup copy" option, and then click
    Next. This method technically opens the Save Copy or Backup dialog box instead,
    but QuickBooks still displays the "Online backup" and "Local backup"
    options and the Options button, which are what you want.

    Backing Up Manually
    If you just spent 4 hours tediously creating a few dozen new customers in Quick-
    Books, you definitely want to save that work. To run a backup right away, here's what
    you do:
    1. If you want to back up your file to removable media like a CD, DVD, or tape,
    put the disc or tape in the drive.
    You don't have to put the media in until just before you click Save, but you may
    as well do it now so you don't forget.
    2. Choose File➝Create Backup.
    The Create Backup dialog box opens with options for creating an online or local
    3. To save the file to your computer, select the "Local backup" option, and then
    click Next.
    The dialog box includes options for backing up your file locally—on your computer—
    or online. To create an online backup, select (you guessed it) the "Online
    backup" option. QuickBooks' online backup service isn't free, but it has its advantages,
    as the box on page 184 explains.
    4. For a local backup, on the "When do you want to save your backup copy?"
    screen, select the "Save it now" option, and then click Next.
    The Save Backup Copy dialog box opens to the folder you specified in Quick-
    Books' backup options (page 180), as Figure 7-2 shows. If you want to save the
    file somewhere else, browse to the folder.
    5. Click Save.
    The Working message box shows QuickBooks' progress as it verifies the data
    and creates the backup. When the backup is complete, a message box tells you
    the backup was successful. Click OK to close the message box.

    Restore Backups:
    Here's how to restore a QuickBooks backup when you need to recover from a mistake
    or damaged data:
    1. If you backed up your data to removable media, put the disc containing your
    backup in the appropriate drive.
    If you backed up your data to another hard drive on your computer or on a
    network, make sure you have access to that drive.
    2. Choose File➝Restore Previous Local Backup, and then choose the backup
    you want to restore on the drop-down menu.
    If the backup you want doesn't appear on the drop-down menu, choose
    File➝Open or Restore Company. In the Open or Restore Company dialog box,
    shown in Figure 7-5, select the "Restore a backup copy" option, and then click
    Next. Select "Local backup," and then click Next. In the Open Backup Copy
    dialog box, navigate to your backup file and double-click its name.
    3. In the Open or Restore Company dialog box, the "Where do you want to restore
    the file?" screen makes it clear that you need to choose the restore location
    carefully. Click Next and, in the "Save Company File as" dialog box,
    choose the folder where you want to restore the file.
    If you restore the backup to your regular company-file folder, you run the risk of
    overwriting your existing company file. If that's what you want, fine. If it's not,
    that file may be gone for good.
    4. In the "File name" box, type a new name, as shown in Figure 7-6.
    The dialog box opens to the folder where you store your company files (page
    694). QuickBooks fills in the "File name" box with the company file's name (minus
    the timestamp). The safest approach is to modify the name to include a
    unique identifier, so you don't overwrite your existing company file.
    2.4 How to use QuickBooks in single-user and multiuser mode?
    Switching Between Multi- and Single-User Mode
    In QuickBooks, some maintenance tasks require that only one person have access to
    the company file. If you tell QuickBooks to set up your ...

    Solution Summary

    The information required before they set up a QuickBooks file is determined. How to start a new company data file in QuickBooks is given.