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This book uses four types of icons as visual cues to annotate the contents of the text:
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Accounting Jargon
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You ll see this icon any time an accounting term is introduced that might not be familiar to a layperson. Generally, the concept also is de ned in the glossary at the end of the book. This icon warns you when to watch out or when to take particular care when performing a procedure. Most people won t read this book cover to cover, but will instead zero in on the chapter or information they need. This icon tells you that information relevant to the topic you re reading about is located elsewhere in the book. This icon offers an aside or extra information about a topic.
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This is perhaps the most important icon. It signals the kind of information that saves you time, money, and aggravation.
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Preface
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xxix
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How to Find What You Need in This Book
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If I have done my job right, this book will be your ultimate reference source. The initial chapters are intended to give you an overview of the system and get you up and running as quickly and painlessly as possible; they re written with the assumption that you d rather be working on the system than reading about it. Subsequent chapters are divided according to accounting function so you can tailor your reading to the character and needs of your business. Advanced legal and accounting topics are also given thorough treatment in their own chapters, so as to not bog down the reader who s trying to catch the basics or bore the more sophisticated professional with the introductory. Part I: The QuickBooks System is calculated to give insight into the logic and structure of the program. Part II: Establishing Your Own QuickBooks Business attempts to address all the obstacles you need to overcome in both the start of a new business and the introduction of a new accounting system. Part III: Preferences and Data Management covers those features available for customizing and optimizing your QuickBooks accounting system and maintaining the integrity and security of stored data. Part IV: Managing Your Business with QuickBooks introduces you to the program features that keep you in control of the day-to-day operations of the business. Part V: Payroll and Taxes covers the range of knowledge necessary to pay your employees and track taxes attributable to them. It also covers sales taxes. Part VI: Banking and Credit Card Transactions contains everything you need to know about online banking, bill payment, and credit card transactions. Part VII: Analyzing Business Performance provides an aerial view of business performance to high- ying entrepreneurs. In addition, the appendixes guide you through the installation process, discuss how to download tax forms from the Internal Revenue Service Web site, and provide you with contact information for the various Internal Revenue Service Centers.
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How to Reach the Author
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If you have comments about the book, I encourage you to e-mail me at taxtalks@wi.rr.com Your input will be gratefully received and will provide a great service to readers of future editions.
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Acknowledgments
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hanks to the great editors at Wiley Publishers Katie Mohr, Susan Hobbs, and Christine Dempster.
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The QuickBooks System
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In This Part
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1 Quick Insights and Program Overview 2 Twenty Minutes to Navigating QuickBooks 3 Choosing the Correct Legal Entity and Avoiding Tax Penalties 4 Accounting Basics for QuickBooks Companies
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Quick Insights and Program Overview
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C H A P T E R
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In This
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The QuickBooks program philosophy and design The QuickBooks Chart of Accounts Registers the basic documentation le created by QuickBooks Lists the QuickBooks answer to database management Items the QuickBooks indexing system Reports for analysis and budgeting
uickBooks is a complete business accounting system designed to accommodate nearly two dozen types of industries, ranging from small servicebased rms to large retail and manufacturing companies. For each type of company, QuickBooks offers a preselected Chart of Accounts that will automatically set up most of the accounts necessary to run a particular enterprise. When you record a business transaction, QuickBooks instantly adjusts the balances of all affected accounts and can generate reports summarizing the updated nancial information for your company at any time with a click of your mouse. QuickBooks offers several tools to help you organize and manage complex accounting data, including lists, items, registers, forms, and reports. This chapter provides an overview of these powerful program features.