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Using
Owen
QuickBooks Accountant ®
2018
FOR ACCOUNTING
Using
QuickBooks Accountant
®
FOR ACCOUNTING
2018
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Using
2018
FOR ACCOUNTING
Glenn Owen
Allan Hancock College
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Print Number: 01 Print Year: 2018
Brief Contents
Part 1 Getting Started with QuickBooks

Accountant1
Chapter 1 An Interactive Tour of QuickBooks
Accountant2
Chapter 2 Preparing a Balance Sheet Using

QuickBooks Accountant 27
Chapter 3 Preparing an Income Statement

Using QuickBooks Accountant 43
Chapter 4 Preparing a Statement of Cash

Flows Using QuickBooks Accountant 63
Chapter 5 Creating Supporting Reports to

Help Make Business Decisions 72
Part 2 Creating a QuickBooks Accountant File

to Record and Analyze Business Events 89
Chapter 6 Setting Up Your Business’s
Accounting System 90
Chapter 7 Cash-Oriented Business Activities 146
Chapter 8 Additional Business Activities 224
Chapter 9 Adjusting Entries 270
Chapter 10 Budgeting 298
Chapter 11 Reporting Business Activities 322
Chapter 12 Managing Fixed Assets 365
Appendix 1 Payroll Taxes 392
Appendix 2 Traditional Accounting:

Debits and Credits 402
Appendix 3 Helpful References 413
Index 427 iii

Contents
Prefaceix Chapter 2 Preparing a Balance

About the Author & Dedication xiv Sheet Using QuickBooks
Accountant27
Note to the Student and
Case: Larry’s Landscaping & Garden Supply 27
Instructorxv
Creating a Balance Sheet 27
Creating a Comparative Balance Sheet 29
Part 1 Getting Started with Creating a Summary Balance Sheet 30
QuickBooks Accountant 1 Investigating the Balance Sheet Using QuickZoom 30
Modifying Balance Sheet Reports 33
Chapter 1 An Interactive Tour of Memorizing a Report in QuickBooks Accountant 35
QuickBooks Accountant 2 Printing the Balance Sheet 37
Case: Larry’s Landscaping & Garden Supply 2 Chapter 2 Practice 38
Using This Text Effectively 3 Chapter 2 Questions 38
Demonstrations3 Chapter 2 Matching 38
QuickBooks Accountant 4 Chapter 2 Assignments 39
Data Files 4 Chapter 2 Cases 40
What Is QuickBooks Accountant? 4 Case Problem 1: Sierra Marina 40
Lists 5 Case Problem 2: Jennings & Associates 41
Forms 5 Case Problem 3: Jason Galas Attorney at Law PC 41
Registers 6
Reports and Graphs 7
Chapter 3 Preparing an Income
Launching QuickBooks Accountant 8 Statement Using
Restoring and Opening a QuickBooks QuickBooks Accountant 43
Accountant File 8 Case: Larry’s Landscaping & Garden Supply 43
The QuickBooks Accountant Window 10 Creating an Income Statement 43
Backing Up and Closing a QuickBooks Modifying an Income Statement 45
Accountant File 11 Creating a Comparative Income Statement 47
QuickBooks Accountant’s Menus and Using QuickZoom with the Income Statement 48
Shortcut List 13 Modifying the Income Statement Report 50
Using QuickBooks Accountant to Printing the Income Statement 53
Make Business Decisions 14 Chapter 3 Practice 59
Printing in QuickBooks Accountant 17 Chapter 3 Questions 59
Using QuickBooks Accountant Help 18 Chapter 3 Matching 59
Date Formats 19 Chapter 3 Assignments 60
The QuickBooks Accountant Home Page 20 Chapter 3 Cases 60
Exiting QuickBooks Accountant 23 Case Problem 1: Sierra Marina 60
End Note 23 Case Problem 2: Jennings & Associates 61
Chapter 1 Practice 24 Case Problem 3: Jason Galas Attorney at Law PC 61
Chapter 1 Questions 24
Chapter 1 Matching 24
Chapter 1 Assignments 25
iv
Contents v
Chapter 4 Preparing a Statement of Part 2 Creating a QuickBooks

Cash Flows Using Accountant File to
QuickBooks Accountant 63 Record and Analyze
Case: Larry’s Landscaping & Garden Supply 63 Business Events 89
Creating a Statement of Cash Flows 63
Using QuickZoom with the Statement Chapter 6 Setting Up Your Business’s
of Cash Flows 67 Accounting System 90
Formatting and Printing the Statement
Case: Wild Water Sports, Inc. 90
of Cash Flows 68
Creating a New Company File Using the
Chapter 4 Practice 69
EasyStep Interview 91
Set Up Company Preferences 95
Set Up Company Items 99
Chapter 4 Assignment 70
Set Up Customers, Vendors, and Accounts 105
Chapter 4 Cases 70
Set Up Payroll and Employees 116
Case Problem 1: Sierra Marina 70
Viewing Transactions and Backing Up
Case Problem 2: Jennings & Associates 70
Your Company File 123
Case Problem 3: Jason Galas Attorney at Law PC 71
End Note 125
Chapter 5 Creating Supporting Reports Chapter 6 Practice 127
to Help Make Business
Decisions72
Chapter 6 Exercises 128
Case: Larry’s Landscaping & Garden Supply 72 Exercise 1: Create a New Company 128
Creating and Printing an Accounts Exercise 2: Add Customers 129
Receivable Aging Report 72 Exercise 3: Add Vendors 129
Creating and Printing a Customer Exercise 4: Add Items 130
Balance Summary 75 Exercise 5: Add Employees 130
Creating and Printing an Inventory Valuation Exercise 6: Add Accounts and Set Opening
Summary Report 76 Balances 131
Creating, Printing, and Analyzing an Accounts Chapter 6 Assignments 131
Payable Aging Report 79 Assignment 1: Adding More Information:
Creating and Printing a Vendor Wild Water Sports 131
Balance Summary 81 Assignment 2: Creating a New Company:
End Note 84 Central Coast Cellular 133
Chapter 5 Practice 85 Assignment 3: Creating a New Company:
Chapter 5 Questions 85 Santa Barbara Sailing 135
Chapter 5 Matching 85 Assignment 4: Creating a New Company:
Chapter 5 Assignments 86 Drone City 137
Chapter 5 Cases 87 Chapter 6 Cases 139
Case Problem 1: Sierra Marina 87 Case 1: Forever Young 139
Case Problem 2: Jennings & Associates 87 Case 2: Ocean View Flowers 142
Case Problem 3: Jason Galas Attorney Case 3: Aloha Properties 143
at Law PC 87
vi Contents
Chapter 7 Cash-Oriented Business Recording Noncash Investing and

Activities146 Financing Activities 246
Case: Wild Water Sports, Inc. 146 Evaluate a Firm’s Performance and
Recording Cash-Oriented Financing Activities 147 Financial Position 247
Recording Cash-Oriented Investing Activities 148 End Note 251
Recording Cash-Oriented Operating Activities 152 Chapter 8 Practice 253
Evaluate a Firm’s Performance and Chapter 8 Questions 253
Financial Position 181 Chapter 8 Matching 253
End Note 185 Chapter 8 Exercises 254
Chapter 7 Practice 187 Exercise 1: Financing Activities 254
Chapter 7 Questions 187 Exercise 2: Investing Activities 254
Chapter 7 Matching 187 Exercise 3: Operating Activities—Purchases
Chapter 7 Exercises 188 and Payments from/to Vendors 254
Exercise 1: Cash-Oriented Financing Activities 188 Exercise 4: Operating Activities—Expenses
Exercise 2: Cash-Oriented Investing Activities 188 & Sales 255
Exercise 3: Cash-Oriented Operating Chapter 8 Assignments 256
Activities—Sales 188 Assignment 1: Adding More Information:
Exercise 4: Cash-Oriented Operating Wild Water Sports 256
Activities—Purchases 189 Assignment 2: Adding More Information:
Exercise 5: Cash-Oriented Operating Central Coast Cellular 259
Activities—Expenses 189 Assignment 3: Adding More Information:
Chapter 7 Assignments 190 Santa Barbara Sailing 260
Assignment 1: Adding More Information: Assignment 4: Adding More Information:
Wild Water Sports 190 Drone City 261
Assignment 2: Adding More Information: Chapter 8 Cases 263
Central Coast Cellular 193 Case 1: Forever Young 263
Assignment 3: Adding More Information: Case 2: Ocean View Flowers 265
Santa Barbara Sailing 195 Case 3: Aloha Properties 267
Assignment 4: Adding More Information:
Chapter 9 Adjusting Entries 270
Drone City 196
Chapter 7 Cases 198 Case: Wild Water Sports, Inc. 270
Case 1: Forever Young 198 Accruing Expenses 270
Case 2: Ocean View Flowers 199 Accruing Revenue 273
Case 3: Aloha Properties 201 Recording Expenses Incurred but
Comprehensive Problems 203 Previously Deferred 277
Comprehensive Problem 1: Sarah Duncan, CPA 203 Adjusting for Unearned Revenues 281
Comprehensive Problem 2: Pacific Brew 207 Preparing a Bank Reconciliation and Recording
Comprehensive Problem 3: Sunset Spas 210 Related Adjustments 284
Comprehensive Problem 4: Bridgette Sweet End Note 287
Photography 214 Chapter 9 Practice 289
Comprehensive Problem 5: Crystal Clear Pool Service 219 Chapter 9 Questions 289
Chapter 8 Additional Business Chapter 9 Exercises 290
Activities224 Exercise 1: Accruing Expenses 290
Case: Wild Water Sports, Inc. 224 Exercise 2: Accruing Revenue 290
Recording Additional Financing Activities 224 Exercise 3: Recording Expenses Incurred
Recording Additional Investing Activities 228 but Previously Deferred 291
Recording Additional Operating Activities 229 Exercise 4: Preparing Bank Reconciliation 291
Contents vii
Assignment 1: Adding More Information: Creating Graphs to Illustrate

Wild Water Sports 292 Financial Information 329
Assignment 2: Adding More Information: Create Additional Detail Reports 334
Central Coast Cellular 293 Exporting Reports to Excel 338
Assignment 3: Adding More Information: End Note 342
Santa Barbara Sailing 293 Chapter 11 Practice 343
Assignment 4: Adding More Information: Chapter 11 Questions 343
Drone City 294 Chapter 11 Matching 343
Chapter 9 Cases 295 Chapter 11 Exercises 344
Case 1: Forever Young 295 Exercise 1: Graphs 344
Case 2: Ocean View Flowers 296 Exercise 2: Additional Reports 344
Case 3: Aloha Properties 297 Exercise 3: Export to Excel 344
Chapter 10 Budgeting 298 Assignment 1: Adding More Information:
Case: Wild Water Sports, Inc. 298 Wild Water Sports 345
Budgeting Revenues 299 Assignment 2: Adding More Information:
Budgeting Expenses 302 Central Coast Cellular 345
Budgeted Income Statement 303 Assignment 3: Adding More Information:
Budgeting Assets, Liabilities, and Equities 306 Santa Barbara Sailing 346
Budgeted Balance Sheet 309 Assignment 4: Adding More Information:
End Note 313 Drone City 347
Chapter 10 Practice 314 Chapter 11 Cases 347
Chapter 10 Questions 314 Case 1: Forever Young 347
Chapter 10 Matching 314 Case 2: Ocean View Flowers 348
Chapter 10 Exercises 315 Case 3: Aloha Properties 349
Exercise 1: Budgeting Revenues and Expenses 315 Comprehensive Problems 349
Exercise 2: Budgeting Assets, Liabilities, Comprehensive Problem 1: Sports City 349
and Equities 315 Comprehensive Problem 2: Pacific Brew 352
Chapter 10 Assignments 316 Comprehensive Problem 3: Sunset Spas 354
Assignment 1: Adding More Information: Comprehensive Problem 4: Bridgette Sweet
Wild Water Sports 316 Photography 357
Assignment 2: Adding More Information: Comprehensive Problem 5: Crystal Clear Pool 361
Central Coast Cellular 316
Assignment 3: Adding More Information: Chapter 12 Managing Fixed Assets 365
Santa Barbara Sailing 317 Case: Wild Water Sports, Inc. 365
Assignment 4: Adding More Information: Starting the Fixed Asset Manager Application 366
Drone City 318 Fixed Asset Item List 369
Chapter 10 Cases 319 Synchronizing the Fixed Asset Manager 374
Case 1: Forever Young 319 Depreciation Report 376
Case 2: Ocean View Flowers 320 Depreciation Journal Entry 378
Case 3: Aloha Properties 321 Projections of Future Depreciation 380
Disposal of an Asset 382
Chapter 11 Reporting Business End Note 386
Activities322 Chapter 12 Practice 387
Case: Wild Water Sports, Inc. 322 Chapter 12 Questions 387
Creating and Memorizing a Customized Chapter 12 Matching 387
Income Statement 323 Chapter 12 Assignments 388
Creating and Memorizing a Customized Assignment 1: Adding More Information:
Balance Sheet 326 Wild Water Sports 388
viii Contents
Assignment 2: Adding More Information: General Ledger 405

Central Coast Cellular 388 General Journal 408
Assignment 3: Adding More Information: Santa End Note 410
Barbara Sailing 389 Appendix 2 Practice 411
Assignment 4: Adding More Information: Appendix 2 Questions 411
Drone City 390 Appendix 2 Assignments 411
Appendix 2 Case Problems 412
Appendix 1 Payroll Taxes 392
Overview 392 Appendix 3 Helpful References 413
Federal Income Tax Withholding 392 Overview413
Social Security and Medicare Taxes 395 Install and Register QuickBooks
Federal Unemployment Taxes 397 Accountant Desktop 413
State Income Tax Withholding and File Management 417
Unemployment Taxes 399 Memorize Reports in Groups 419
Appendix 1 Practice 400 Upload a QuickBooks Company or Backup
Appendix 1 Questions 400 File to an Instructor 419
Appendix 1 Assignments 400 Become QuickBooks Certified 420
Appendix 2 Traditional Accounting: Index 427

Debits and Credits 402
Case: Wild Water Sports, Inc. 402
Trial Balance 403
Preface
What if you could integrate a popular computerized accounting program into

your classroom without using complicated and confusing manuals? What if your
students could use this program and reinforce basic accounting concepts in an
online and interactive case setting? What if you could accomplish both without
spending a fortune and a vast amount of time preparing examples, cases, and
illustrations? In fact, Using QuickBooks Accountant® 2018 for Accounting by
Owen is a textbook that fulfills and expands upon all three of these ‘‘what ifs.’’
Why Is This Textbook Needed?

The first course in accounting has evolved significantly over the last several years.
Educators are responding to the demand of accounting and nonaccounting fac-
ulty who rely on this course to lay a foundation for other courses. Moreover, the
accounting profession relies on this course to attract the ‘‘best and the brightest’’
to become accounting majors. The evolution of this course has also put pressure
on instructors to integrate computers into the classroom and, in so doing, develop
students’ skills in intelligently using and interpreting accounting information.
Faculty often want to incorporate computerized accounting into the first
course but are reluctant to invest the time and effort necessary to accomplish this
laudable goal. Existing materials are often ‘‘preparer’’ driven in that they focus on
the creation of financial reports only. Students are often discouraged in their use
of computers in the first accounting course because of the confusing and com-
plicated accounting software manuals that concentrate on accounting mechanics.
This text responds to all of these needs. It provides a self-paced, step-by-
step environment in which students use QuickBooks® Pro 2018 or QuickBooks®
Accountant 2018 to create financial statements and other financial reports, to
reinforce the concepts they learn in their first course, and to see how computer
software can be used to make business decisions.
QuickBooks Pro vs. QuickBooks Accountant

This text includes access to QuickBooks® Accountant 2018. However, it can be
toggled between various editions: General Business, Contractor, Manufacturing
& Wholesale, Nonprofits, Professional Services, Retail, and Pro. The text itself
will focus on the Accountant version.
What Are the Goals of This Textbook?

This textbook takes a user perspective by illustrating how accounting information
is both used and created. QuickBooks Accountant is extremely user-friendly and
provides point-and-click simplicity with excellent and sophisticated accounting
ix
x Preface
reporting and analysis tools. The textbook uses a proven and successful pedagogy
to demonstrate the software’s features and elicit student interaction.
The text’s first and foremost goal is to help students learn or review fun-
damental accounting concepts and principles through the use of QuickBooks
Accountant and the analysis of business events. The content complements the
first course in accounting and thus should be used in conjunction with a core text
on accounting.
A second goal is to enable students to view financial statements from a user
perspective. After an initial tour of QuickBooks Accountant, students learn how
to use QuickBooks Accountant to understand and interpret financial statements.
A third goal of the text is to provide students a means to investigate the under-
lying source documents that generate most financial accounting information such
as purchase orders and sales invoices. Students will experience this process by
entering a few business events for later inclusion in financial reports.
A fourth goal is to provide students a means of exploring some managerial
aspects of accounting by performing financial analysis and comparisons. Bud-
gets are created and compared to actual operating results, and receivables and
payables are aged for the purpose of analyzing cash management and cash flow
projections.
A fifth goal of this text is to reduce the administrative burdens of accounting
faculty by providing a self-paced environment, data sets, cases, and a correlation
table describing how this book might be used with a variety of popular account-
ing texts.
What Are the Key Features of This Textbook?

This text is designed to work with QuickBooks® Accountant 2018. It can be used
with other versions of QuickBooks, but the screenshots and instructions are
based entirely on QuickBooks® Accountant 2018.
The text is divided into two parts. Part 1 is designed to help you navigate through
QuickBooks Accountant. It provides a foundation for Part 2, which will show you
how to create new QuickBooks Accountant files and record a variety of operating,
investing, and financing transactions. Part 2 consists of seven c hapters, each with
its own set of questions, assignments, and case problems (except chapter 12, which
only has questions and assignments). All chapters in Part 1 revolve around Larry’s
Landscaping & Garden Supply. Larry’s specializes in landscaping new and existing
homes and is well known in town for its high-quality work and timely completion
of projects. You’ve answered an ad for a part-time administrative assistant and
are about to learn more about what QuickBooks Accountant can do for a busi-
ness. Chapter 1 gives you a quick interactive tour of QuickBooks Accountant, in
which you will restore data files and become familiar with QuickBooks Accoun-
tant’s essential features. Chapters 2–5 introduce you to creating and preparing the
balance sheet, the income statement, the statement of cash flows, and supporting
reports.
Part 2 is designed to teach you how to use QuickBooks Accountant and the
accounting methods and concepts you’ve learned in your introductory accounting
course. You will follow the adventures of Donna and Karen at Wild Water Sports,
who have hired you to help them set up their business in QuickBooks Accountant,
capture various business transactions, make adjusting entries, set up and use budgets,
Preface xi
and generate key business reports. You will utilize QuickBooks Accountant’s Easy-
Step Interview to establish accounts, customers, vendors, items, and employees and
then record business transactions using key source documents like sales receipts,
invoices, bills, deposit forms, and checks. You will learn how to create journal entries
in QuickBooks Accountant to accrue revenues and expenses, adjust deferred assets
and liabilities, and record depreciation of long-lived assets. Finally, you will learn
how QuickBooks Accountant’s budgeting and reporting process can help Wild
Water Sports plan and control their business activities.
A tested, proven, step-by-step methodology keeps students on track. Students
enter data, analyze information, and make decisions all within the context of the
case. The text constantly guides students, letting them know where they are in the
course of completing their accounting tasks.
Numerous screenshots include callouts that direct students’ attention to what
they should look at on the screen. On almost every page in the book, you will find
examples of how steps, screenshots, and callouts work together.
Trouble? paragraphs anticipate the mistakes that students are likely to make—
or problems they might encounter—and then help them recover and continue
with the chapter. This feature facilitates independent learning and frees you to
focus on accounting concepts rather than on computer skills.
With very few exceptions, QuickBooks Accountant does not require the user
to record journal entries to record business events. An appendix on traditional
accounting records gives you the flexibility to teach journal entries at your discre-
tion. It provides the information necessary for students to make journal entries to
record the events described in Chapters 6–12.
Questions begin the end-of-chapter material. They are intended to test stu-
dents’ recall of what they learned in the chapter.
Matching exercises follow the questions. Each matching exercise lists key
concepts/terms used or introduced in each chapter, terms that the student
must match with the appropriate definition. This helps reinforce the student’s
grasp of the accounting and QuickBooks Accountant concepts.
Assignments follow the matching exercises. In the first five chapters, the
assignments involve continuing the students’ exploration of QuickBooks Accoun-
tant by viewing Larry’s information. Three additional cases are used to extend
their practice and exploration of QuickBooks Accountant files. The first is Sierra
Marina, a sole proprietorship renting boats in the Sierra Mountains. The second
is Kelly Jennings, an advertising agency doing business as a corporation. The
third is Jason Galas Attorney at Law PC, a law firm doing business as a profes-
sional corporation.
In Chapters 6–11, exercises follow the matching exercises. Each exercise revolves
around Boston Catering where students are asked to add customers, vendors, items,
employees, and operating, investing, and financing activities. Each exercise stands
alone and does not require completion of the previous exercise.
In Chapter 12, the end-of-chapter material includes questions, matching exer-
cises, and four assignments. These are designed to help students apply the knowl-
edge gained in the chapter on managing a firm’s fixed assets including creating a
new client, creating a fixed asset item list, depreciating fixed assets, and recording
a journal entry in QuickBooks Accountant.
In Chapters 6–11, four assignments follow the exercises. Each assignment in
Chapters 7–11 includes a beginning backup data file, which is used to get the
xii Preface
student started. This includes an extension of the Wild Water Sports continuing
business problem used in the chapter, followed by the Central Coast Cellular,
Santa Barbara Sailing, and Drone City assignments. Three additional cases fol-
low these assignments. None of these cases include a beginning data file; students
continue the case from the previous chapter. These include the Forever Young,
Ocean View Flowers, and Aloha Properties cases.
Five comprehensive problems appear at the end of each Chapter 7 and
Chapter 11. These problems provide an opportunity for students to demonstrate
their comprehensive understanding of QuickBooks Accountant procedures and
accounting knowledge.
The Student version of the text web site includes all beginning data files for each
chapter and for each assignment. Students should navigate their browser to https://
login.cengage.com to log in or create an account. Click on Find Free Study Tools, and
then search using ISBN 9780357042076. Book resources should be listed including
student data files.
The Instructor’s Manual includes solutions to all questions, matching exer-
cises, assignments, cases, and comprehensive problems. Completed QuickBooks
Accountant backup files are provided for the assignments, cases, and comprehen-
sive problems to enable instructors to see what the student completed data file
should look like after each chapter. The instructor’s section of the text web site
includes student data files and instructor completed data files. Instructors should
navigate their browser to http://www.cengage.com. Click Higher Education, then
type Glenn Owen in the Search for Books or Materials text box, and then click
Find. Locate and then click the QuickBooks 2018 text from the listing provided.
Click the text Instructor Companion Site. Book resources should be listed includ-
ing both student and instructor data files. Instructor completed backup files,
solution manual, rubrics, and so on are locked and require registration and login
available at this site.
Dates
QuickBooks Accountant, like all accounting programs, is extremely date sensitive.
This follows from the accounting periodicity concept, which requires accounting
information to be organized by accounting periods such as months, quarters, and
years. It is most important that, when using this text, you enter the proper dates
to record business transactions or view business reports. For example, if you are
using this book in 2019 (and thus your computer has a system date of 10/1/19,
for example), then you will need to adjust the date references. In the Employee
Center, for instance, the concept of ‘‘The Calendar Year’’ means 2019. However,
if you are using this book in 2020 (and thus your computer has a system date of
2/1/20, for example), then the reference to ‘‘The Calendar Year’’ refers to 2020.
The Larry’s Landscaping & Garden Supply file used in Chapters 1–5 is a sample
file created by Intuit, which automatically sets the system date to 12/15/2022.
Thus, you won’t have to worry about differences in report dates.
The end-of-chapter assignments, cases, and comprehensive problems often
have dates that differ from the date you might be entering business transactions. For
example, the Central Coast Cellular assignment is dated 2014. When entering dates
Preface xiii
for transactions, QuickBooks Accountant automatically warns you of transactions

being recorded more than 30 days into the future or more than 90 days in the past
as shown by the following windows:
Figure P.1
Future Transactions Warning
Figure P.2
Past Transactions Warning
Click the Yes button when this occurs and then go to the Edit menu, click Pref-
erences, click Accounting, and then click the Company Preferences tab. Uncheck
the two check boxes located in the Date Warnings section as shown below.
Figure P.3
Turning Off Date Warnings
Uncheck these
two check boxes
About the Author
Glenn Owen is a retired Professor of Accounting at Allan Hancock College where

he lectured on accounting and information systems since 1995. In addition, he is a
retired lecturer at the University of California at Santa Barbara, where he taught
accounting and information systems courses from 1980 to 2011. He has also
been a lecturer at the Orfala College of Business at Cal Poly, San Luis Obispo,
teaching financial and managerial accounting courses. His professional experi-
ence includes five years at Deloitte & Touche as well as vice president of finance
positions at Westpac Resources, Inc., and Expertelligence, Inc. He has authored
many Internet-related books and accounting course supplements and is currently
developing online accounting instruction modules for his Internet-based finan-
cial accounting courses. Mr. Owen previously released a 2016 edition of his Excel
and Access in Accounting text, which gives accounting students specific, self-
paced instruction on the use of spreadsheets (Excel 2016) and database appli-
cations (Access 2016) in accounting. His innovative teaching style emphasizes
the decision maker’s perspective and encourages students to think creatively. His
graduate studies in educational psychology and his 43 years of business experi-
ence yield a balanced blend of theory and practice.
Dedication
I would like to thank my wife Kelly for her support and assistance during the cre-
ation of this and previous editions of this text. While our boys are now out of the
house and pursuing their own interests, she continues to listen to my often crazy
ideas for new cases and experiences with college students, providing an excellent
sounding board and reality check. You, the boys, their wives, and our grandchil-
dren continue to be what life is all about.
xiv
Note to the Student and Instructor
QuickBooks Version, Passwords, and Payroll

Tax Tables
The text and related data files created for this book were constructed using
QuickBooks® Accountant 2018 release R4P and R5P. To check your release
number, open QuickBooks® Accountant 2018 and type Ctrl 1. If your release is
less than number R5, click Update QuickBooks Desktop located in the Help
menu to update your version. This is a free service to version 2018 users and
requires an Internet connection. The files accompanying this text can be used
in any QuickBooks® Accountant 2018 release R4 or higher. If you are using
a higher release number, QuickBooks Accountant will automatically offer to
update your file when you try and restore it. Click Yes in the corresponding
Update Company window. Note that Intuit updated QuickBooks 2018 in the
middle of this text’s update. Thus, many files were created using release R4P.
Those files should all be updated when opened for the first time. However,
all Wild Water Sports files were updated to R5P and thus won’t have to be
updated.
Intuit now requires you to have a complex password (new security require-
ments) when any of the following data is in the file you are opening:
1. Employee and Employer Social Security Number
2. Employer EIN
3. Employer Bank Details (Routing Number, Account Number)
4. Vendor Tax ID
QuickBooks 2018 doesn’t know that all of the data used in this text’s data files
is fictitious. Thus, the author has assigned an administrator password for all files
provided. The password is Qbooks2018 (Q must be capitalized). When the stu-
dent creates a new file in Chapter 6 for Wild Water Sports, he/she should accept
Admin as his/her username and then type Qbooks2018 as his/her password twice.
Then he/she should select Name of your High School mascot as the Challenge
Question and type Bulldog as the answer.
In this version of QuickBooks Accountant, Intuit continues its use of a basic
payroll service. This is a requirement in order to use the QuickBooks Accountant
payroll features that automatically calculate taxes due to federal or state agen-
cies. QuickBooks Accountant initially comes with the current tax tables; however,
these tables soon become outdated, and the payroll feature is disabled unless the
user subscribes to the payroll service.
Some previous versions of this text applied whatever tax tables were in effect at
the time of publication. Users who had different tax tables often noted differences
in solutions as a result. This new requirement solves that problem. The author
decided to use the manual payroll tax feature, which requires that students manually
xv
Note to the Student and Instructor xvi
enter the tax deductions. This alleviates the discrepancies between the solutions
manual and the students’ data entry and removes the burden of p urchasing the tax
table service for each copy of QuickBooks Accountant installed in a lab environ-
ment. Instructions on how to set up payroll for manual calculation of payroll taxes
are provided in the text. For more information, see your QuickBooks Accountant
documentation.
All reports have a default feature that identifies the basis in which the report
was created (e.g., accrual or cash) and the date and time the report was printed.
The date and time shown on your report will, of course, be different from that are
shown in this text.
1
Getting Started with
part
In this Part, you will:

• Take an interactive tour of QuickBooks Accountant
• Create a balance sheet and modify its presentation
Q
• Create an income statement and modify its
presentation
• Create a statement of cash flows and modify its
presentation
• Create supporting reports and modify their
presentation
P
art 1 is designed to help you navigate through QuickBooks
Accountant. It provides a foundation for Part 2, which shows
you how to create a new QuickBooks Accountant file and record
a variety of operating, investing, and financing transactions.
This part is divided into five chapters—each with its own set of ques-
tions, assignments, and case problems. Chapter 1 gives you a quick interac-
tive tour of QuickBooks Accountant, in which you will become familiar with
the essential features of QuickBooks Accountant. Chapters 2–5 introduce
you to creating and preparing the balance sheet, the income statement, the
statement of cash flows, and supporting reports.
1
chapter
An Interactive Tour of
Student Learning Outcomes

Upon completion of this chapter, the student will be able to:
• Discuss QuickBooks Accountant’s basic features
• Restore, open, back up, and close a QuickBooks Accountant file
• Identify the components and menus available in the QuickBooks Accountant
window
• Use QuickBooks Accountant Help resources
• Examine a few forms and reports available in QuickBooks Accountant
Case: Larry’s Landscaping & Garden Supply

You’ve been working in a part-time job at a restaurant, and today you decide
that you’ve served your last hamburger. You want a new part-time job—one
that’s more directly related to your future career in business. As you skim the
want ads, you see an ad for an administrative assistant at Larry’s Landscaping
& Garden Supply. The ad says that job candidates must have earned or be earn-
ing a business degree, have some computer skills, and be willing to learn on the
job. This looks promising. And then you see the line ‘‘Send a résumé to Scott
Montalvo.’’ You know Scott! He was in one of your marketing classes two years
ago; he graduated last year with a degree in business. You decide to send your
résumé to Scott right away.
A few days later you’re delighted to hear Scott’s voice on the phone. He
remembers you well. He explains that he wants to hire someone to help him with
clerical and other administrative tasks. He asks if you could start right away.
When you say yes, he offers you the job on the spot! You start next Monday.
When you arrive Monday morning, Scott explains that the first thing he
needs you to learn is how to use a software package called QuickBooks Accoun-
tant. You quickly remind Scott that you’re not an accounting major. Scott laughs
as he assures you that you’ll have no problem with QuickBooks Accountant
because it is so user oriented. He chose QuickBooks Accountant exactly for
that reason and has been using it for about three months. Scott wants accurate,
useful, and timely financial information to help him make sound business deci-
sions—and he’s not an accountant, either.
Scott explains that the company has been using QuickBooks Accountant
since its inception. He has become so busy at the company that he needs some-
one else in the office who can enter transactions, generate reports for the man-
agers, and so on. So he says that today he will give you a tour of QuickBooks
An Interactive Tour of QuickBooks Accountant Chapter 1 3
Accountant and teach you some of the basic features and functions of this
package. You tell him that you’re familiar with Windows and you’re ready to
start. (Note: The file used in Chapters 1–5 is a service-based practice file created
by Intuit. This file is used because it automatically sets the system date and no
changes are made to the data.)
Using This Text Effectively

Before you begin the tour of QuickBooks Accountant, note that this textbook
assumes that you are familiar with the basics of Windows: how to control win-
dows, how to choose menu commands, how to complete dialog boxes, and how
to select directories, drives, and files. If you do not understand these concepts,
please consult your instructor. Also note that this book is designed to be used
with your instructor’s and/or another textbook’s discussion of essential account-
ing concepts.
The best way to work through this textbook is to read the text carefully and
complete the numbered steps, which appear on a shaded background, as you
work at your computer. Read each step carefully and completely before you try it.
As you work, compare your screen with the figures in the chapter to verify
your results. You can use QuickBooks Accountant with any Windows operating
system. The screenshots used in this book were captured in a Windows 10 envi-
ronment. So, if you are using an earlier or later version of Windows, you may see
some minor differences between your screens and the screens in this book. Any
significant differences that result from using QuickBooks Accountant within dif-
ferent operating systems will be explained.
Don’t worry about making mistakes—that’s part of the learning process. The
Trouble? Paragraphs identify common problems and explain how to correct them
or get back on track. Follow those suggestions only if you are having the specific
problem described.
After completing a chapter, you may do the questions, assignments, and case
problems found at the end of each chapter. They are carefully structured so that
you will review what you have learned and then apply your knowledge to new
situations.
Demonstrations
Video Demonstration
Demonstrations are available throughout this text and are referenced by a Video
Demonstration icon in the margin. These demonstrations are stand-alone full-ac-
tion videos with audio showing step-by-step illustrations of business processes
explained in this text.
All of these are available via the Student Companion web site. See the Pref-
ace of this text for detailed instructions on how to access demonstrations from
the Student Companion web site located at www.cengage.com/student.
The demonstrations you download are in a very large compressed zip file.
When you double-click the file downloaded, you’ll see a list of files. All of these
need to be extracted (decompressed) first before you can view them. Click Extract
to a folder and then create a folder on your computer or flash drive that you want
4 Chapter 1 An Interactive Tour of QuickBooks Accountant
to contain all of your demonstration files. Remember where you extracted these
files so you can find them later.
To complete the chapters, cases, and exercises in this book, you must have access
to the QuickBooks Accountant application. Your instructor might make the
application available in a lab environment, suggest you a link to download the
software with information available in this text, or you may already own the soft-
ware. If you would like to download this application to your own computer, fol-
low the instructions provided in Appendix 3.
Data Files
To complete the chapters, cases, and exercises in this book, you must have access
to data files. See the Preface to this text for detailed instructions on how to access
student data files from the student companion web site.
In most cases, the file you download is a very large compressed zip file.
When you double-click the file downloaded, you’ll see a list of files. All of
these need to be extracted (decompressed) first before you can restore them
to QuickBooks. Click Extract to a folder and then create a folder on your
computer or flash drive that you want to contain all of your student data files.
Remember where you extracted these files so you can find them later. In other
cases, the file you download is a QuickBooks backup file that doesn’t have to
be extracted and restored.
You will then need to restore the backup files to their original format. The
files are named to correspond to chapters, assignments, and cases in this book.
Working from your computer’s hard drive is the most efficient way to use the
QuickBooks Accountant program. However, if you are in a lab environment and
want to take your file with you when you leave, you’ll need to copy that file to a
removable disk (ideally a portable USB drive). There is more on this later.
What Is QuickBooks Accountant?

Scott is excited about using QuickBooks Accountant because it is the
best-selling small business accounting software on the market today. He
explains that QuickBooks Accountant is an automated accounting informa-
tion system that describes an entity’s financial position and operating results
and that helps managers make more effective business decisions. He also likes
the QuickBooks Accountant reports and graphs, which quickly and easily
organize and summarize all the data he enters.
Scott cautions you not to confuse this version of QuickBooks Accountant,
which is installed on your computer and does not normally require access to the
Internet, with QuickBooks Online, which does require Internet access and only
allows you one company file. (See a more extensive discussion on the difference
between QuickBooks Accountant Desktop and QuickBooks Online in the Pref-
ace to this text.)
Scott says he especially likes QuickBooks Accountant because it can handle Video Demonstration
all of the company’s needs to invoice customers and maintain receivables and
can also be used to pay bills and maintain payables. It can track inventory and
create purchase orders using on-screen forms—all without calculating, posting,
or closing. Scott can correct any previously recorded transaction, and an ‘‘audit DEMO 1A - Overview and introduction
trail’’ automatically keeps a record of any changes he makes.
Scott explains further that QuickBooks Accountant has four basic features
that, when combined, help manage the financial activity of a company. The four
features—lists, forms, registers, and reports and graphs—work together to create
an accounting information system. Let’s take a closer look at each of these four
features. Don’t start the QuickBooks Accountant program yet. Just read through
the following to better understand QuickBooks Accountant’s features. The
screenshots provided are from an Intuit generated sample company with product
sales. Once again, you don’t need to view this in QuickBooks Accountant.
Lists
Lists are groups of names—such as customers, vendors, employees, inventory
items, and accounts—and information about those names. Lists are created and
edited from a list window or while completing a form, such as an invoice, bill, or
time sheet. Figure 1.1 shows a list of customer names with jobs for each of these
customers, balances owed for each job, and any explanatory notes.
Figure 1.1
A Customer List
Customer Amounts
names due
Forms
Forms are QuickBooks Accountant’s electronic representations of the paper doc-
uments used to record business activities, such as customer invoices, a vendor’s
bill for goods purchased, and a check written to a vendor. The customer invoice
form in Figure 1.2 contains many fields, or areas on the form, that you can fill in.
If you fill in a field, such as the Customer: Job field, QuickBooks Accoun-
tant often automatically fills in several other fields with relevant information to
speed up data entry. In Figure 1.2, for example, the Bill To, Terms, and Invoice #
fields are filled in as soon as the Customer: Job field is entered.
Figure 1.2 Your screen may show the words Print, Send/Ship, and Find
if your Create Invoices window is expanded. QuickBooks Accountant
An Invoice Form automatically removes words to save space when the
window size is reduced.
Here is where you enter specific data

for each invoice
Also, filling in a field is made easier through the use of drop-down lists.
Whenever you see an arrow next to or in a field, that field is a drop-down list.
Registers
A QuickBooks Accountant register contains all financial activity for a specified
balance sheet account. Examples of registers include checking (cash), accounts
receivable, inventory, and accounts payable. The checking register in Figure 1.3
shows some cash payments and cash receipts; it also provides cash balances after
each transaction.
Figure 1.3 Note the Cash payments Cash receipts

four-digit year
A Section of the Checking
Register
Balances are calculated after

each transaction
The financial effects of business transactions may be entered directly into

the register or into the forms that automatically record the effects of these trans-
actions in the relevant register. For example, if an owner’s cash contribution is
recorded on a Deposit form, the increases in both the checking account and rele-
vant owner’s equity account are simultaneously recorded in the Checking register
and Contributed Capital register.
Reports and Graphs

QuickBooks Accountant reports and graphs present the financial position and
the operating results of a company in a way that makes business decision making
easier. The Profit and Loss report in Figure 1.4 shows the revenues and expenses
for a specific period of time. Note that QuickBooks Accountant uses the title
‘‘Profit & Loss,’’ but the generally accepted accounting title for this report is
‘‘Income Statement.’’ Titles for this and other reports are all changeable using
QuickBooks Accountant’s Header/Footer tab. You can modify reports in many
other ways, such as by comparing monthly periods, comparing this year with
prior years, or examining year-to-date activity.
Figure 1.4
A Profit & Loss Report
(Income Statement)
QuickBooks Accountant can also graph data to illustrate a company’s financial

position and operating results. For example, the bar chart in Figure 1.5 illustrates
sales by month, and the pie chart illustrates sales by construction category.
Figure 1.5
A Sales Graph
A bar chart helps

you quickly see relative
sales by month
A pie chart helps you

quickly see relative
percentages
Launching QuickBooks Accountant

Now that you know about lists, forms, registers, and reports and graphs, you are
ready to launch QuickBooks Accountant. Scott invites you to join him in his
office and use his large-screen monitor to start your tour. You open Windows,
and Scott tells you how to launch QuickBooks Accountant.
To launch QuickBooks Accountant in Windows:

1 Click the Start button.
2 Select the Programs menu and look down the list for QuickBooks
Accountant. Alternatively, if you have a QuickBooks 2018 icon on
your desktop you can double-click it to start the program.
3Once you’ve located the QuickBooks Accountant program, click the
QuickBooks Accountant icon or name.
Trouble? If, when QuickBooks Accountant was last used, the file being
worked on was closed, you will see a No Company Open window. If,
however, a QuickBooks Accountant file is open, click File, and then
click Close Company. Be sure to close any open files before you proceed
to the next set of steps.
Now that you have launched QuickBooks Accountant, you can begin to
learn how to use it.
Video Demonstration
Restoring and Opening a QuickBooks
Accountant File
Scott hands you a disk and asks you to restore the Larry’s Landscaping & Gar-
DEMO 1C - Restoring and backing
up a file den Supply QuickBooks Accountant file. (Note: This file is one of the files you
already downloaded and extracted from Cengage.)
To restore a backup file to its original format:

1 Download the data files from the textbook’s web site as previously
described.
2 Launch QuickBooks Accountant if you closed it above. (Note: If a
QuickBooks Setup window appears, close it.)
3 Click Open or restore an existing company. When and if asked, enter
information requested to register your copy of QuickBooks.
4 Choose the Restore a backup copy option button as shown in Figure
1.6, and then click Next.
Figure 1.6
Open or Restore
Company Window
5 Choose the Local backup option button, and then click Next.
6 Locate the Larry’s Landscaping & Garden Supply (Backup).QBB file
wherever you downloaded the file from the textbook’s web site. Select
it, as shown in Figure 1.7, and then click Open.
Figure 1.7
Open Backup Copy Window
7 Click Next in the Open or Restore Company window.

8 In the Save in: section of the Save Company File as window, navigate
to the location where you want the file to be stored on your computer’s
hard drive. Be sure to note its location for future use. In the example
shown in Figure 1.8, we chose to save the restored file in a folder we
created called Restored Files and typed Larry’s Landscaping & Garden
Supply.qbw in the File name: text box.
Figure 1.8
Save Company File as Window
9 Click Save to restore the file.

10 Click OK in the QuickBooks Desktop Information window, indicating
that the file has been successfully restored.
11 Close the Accountant Center window if it opens.
Later, you can continue this process for all the backup files as you need them.
As mentioned before, you may be working in a lab environment where the files
you work on today may be erased tomorrow. To preserve your work, you should
back up your files to removable data storage (e.g., a USB drive). See Appendix 3
for more information on file management as well as backing up and restoring files.
The QuickBooks Accountant Window

Scott explains that QuickBooks Accountant operates like most other Windows
programs, so most of the QuickBooks Accountant window controls should be
familiar to you. He reaches for the mouse and quickly clicks a few times until his
screen looks like Figure 1.9. The main components of the QuickBooks Accoun-
tant window are shown in this figure. Let’s take a look at these components so
that you can become familiar with their location and use.
The title bar at the top of the window tells you that you are in the
QuickBooks Accountant program and identifies the company file currently open.
The menu bar contains the command menus, which open windows within
QuickBooks Accountant. The File, Edit, View, and Help menus are similar to
other Windows programs in that they allow you to perform such common tasks
as open, save, copy, paste, find, and get help.
The Lists menu gives you access to all lists, including the chart of accounts,
customers, vendors, employees, and inventory items. The Company, Customers,
Menu bar
Icon bar Title bar Figure 1.9
Components of the
Window
Vendors, Employees, and Banking menus provide easy access to QuickBooks

Accountant Centers as well as common tasks unique to that menu. For instance,
in the Customers menu, you can create invoices, enter cash sales, create credit
memos, receive payments, and so forth. The Reports menu will give you quick
access to common reports and graphs for easy creation. The Window menu allows
you to choose the format for window displays, such as cascade or tile vertically.
Finally, the Help menu will give you immediate access to an index of help topics.
The icon bar gives you one-click access to the QuickBooks Accountant Cen-
ters and Home page. From time to time, you may want to hide the icon bar so
you can have more horizontal space for the customizable icon bar.
The icon bar can include icons representing tasks you do every day, such as
entering and paying bills, creating invoices, and receiving payments. If you use
QuickBooks Accountant’s payroll system, you might consider adding icons for
your payroll forms. Icons can be added, removed, or reordered to fit your needs.
Use the View menu to hide or display the icon bar and make any changes. The
current icon bar was set up to show just a few icons (Home, Customers, Vendors,
Employees, Reports, and User Licenses).
Backing Up and Closing a QuickBooks

Accountant File
Now that you have seen the components of the QuickBooks Accountant screen,
Scott wants to show you how to back up and close a file so that you will always
be able to save your work and exit QuickBooks Accountant.
‘‘Maintaining backups is important just in case your original file is some-

how damaged or lost,’’ Scott explains.
To create a backup file for later use and then close the file:
1 In Windows Explorer, create a folder on your USB or other external
drive called ‘‘My QuickBooks Backups.’’
2 In QuickBooks Accountant, click File, and then click Back Up Company,
and then select Create Local Backup as shown in Figure 1.10.
Figure 1.10
Creating a Backup File
3 Choose the Local Backup option button, and then click Next.
4 Click Browse in the Backup Options window and navigate to the My
QuickBooks Backups folder you created in Step 1. Uncheck the Add
the date and time of the backup to the file name check box and then
uncheck the Remind me to back up when I close my company file check
box. Then click OK.
5 Click Use this Location if a warning window appears, and then click
Next two times.
6 Your screen should look like Figure 1.11. Click Save.
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necessarias nulla de se prouincia sola parturit
vniuersas, inter alios mundi coadiutores Ciuium
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bona regionum alternatim communicantur, de
quorum iam actibus scribere consequenter
intendit.
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Quid dicam, set eis est honor est et onus?
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660 Est onus officii iura tenere sui:
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gessit,
Hoc scio, quod pondus non leuiabit honor.
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Sunt Mercatores, sunt simul artifices:
Indiget alterius sic alter habere iuuamen,
Vt sit communis sic amor inter eos;
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Credo quod ante deum se dabit inde reum.
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690 Sanctificetque diem, quo colat ipse deum.
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720 Vnde satis clare scripta legenda patent.
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Omnia nuda patent, quapropter vestibus ipsam
Induit, vt ficto fallat operta dolo.
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Fraudis, vt hinc extra pulcra pateret ea;
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Sic, ‘Ita Parisius Flandria siue dedit.’
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760 Propter denarium vulnerat ipsa deum;
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Hic loquitur vlterius quomodo Fraus singula

artificia necnon et vrbis victualia vbicunque sua
subtili disposicione gubernat.
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790 Set capit ex puro purius ipsa tuo;
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Omnem nunc artem Fraus facit esse suam.
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pisces,
Condolet hinc gustus dum sapit inde prius:
Fraus facit ob panes pistores scandere clatas,
810 Furca tamen furis iustior esset eis:490
Ceruisie domina Fraus est, testante lagena,
Qua vix per seriem scit Thethis esse Cerem:491
Fraus cocus et cocta componit et ordinat assa,
Inque cibos horum conuocat ipsa forum:
Vt furit absque modo clamor constanter abisso,
Sic Fraus assa sibi clamat in aure fori.
Hospes in hospiciis Fraus gaudet de peregrinis,
Set peregrinus eam plangit habere malam:
Sincopat in modio, decaudat fraus minuendo
820 Fena per apocapen, lucra colendo tamen.
Dum curat minima, Fraus pullos vendit et oua,
Est nichil inque foro, quin regit ipsa dolo:
Fraus procurator communis in vrbe notatur;
Dum causas iungit, semper id vna luit.
Vt numeranda maris consistunt litora nobis,
Sunt infiniti fraudis in ore doli.
Fraus facit et facta vendit, quoque iudicat acta,
Ambicione sua statque per omne rea.
Non commune bonum Fraus cum sit rector
agendum
830 Auget, set proprium spectat habere lucrum.
Sic patet in fine, nunc transiit exul ab vrbe
Ipsa Fides sterilis, Fraus parit atque magis.
Hoc ego non dico, quod Fraus dominatur in
omnes,
Iusto nam ciui Fraus nichil addit ibi.
Hic loquitur de ciue illo492 maliuolo et

impetuoso, qui maioris ministerium493 sibi
adoptans in conciues suam accendit maliciam,
quo magis sanum ciuitatis regimen sua
importunitate perturbat et extinguit.
Capm. xv. Turpiter errat auis, proprium que stercore nidum,

Cuius erit custos, contaminare studet:
Dedecus est ciui sociis qui tollit honorem,
Quo campestris habet ciue priora loca.
Est inter populum furiosus vbique timendus,
840 Saltem dum gladium possidet ipse manu;
Est set in vrbe magis hominis metuenda potestas,
Iudicis officio dum furit ipse suo.
Vtpote sola domum poterit sintilla cremare,
Sic malus indigena solus in vrbe grauat.
Mutatis subito rebus natura gemescit,
Et magis insolita de nouitate dolet,
Sorte repentina dum pauper in vrbe leuatur,
Et licet indignus culmen honoris habet.
Vrbis nobilitas poterit tunc dampna timere,
850 Cum noua stultorum gloria laudat eum.
Arridet stultus stulto, vir iniqus iniquo,
Gaudet sensatus cum sapiente viro.
Asperius nichil est humili cum surgit in altum,
Saltem cum seruus nascitur ipse prius;
Mens antiqua manet serui de condicione,
Det quamuis summum sors sibi ferre statum.
Si cursoris equi sella sit Asellus opertus,
Non tamen in cursu fit magis inde celer:
Indoctus que rudis nec homo mutatur honore,
860 Rusticitate sua quin magis asper erit.
Coruum perfidie dampnant animalia queque,
Sic est de ciue qui stat in vrbe male:
Quamuis sors fallax hominem sine moribus vrbe
Preponat, quis sit vltima fama dabit.
Vir malus est hominum multorum sepe
flagellum,
Quem deus ad tempus plura mouere sinit:
Fine tamen proprio capiti mala cuncta refundit,
Que foris in populo fecerat ipse prius.
Mille cados olei premit vncia sola veneni,
870 Solus millenos vir malus atque bonos:
Ignitus carbo plures producit in ignem,
Sic mala multa facit, quo manet ipse, malus:
Talis enim summam fuerit cum scansus in arcem,
Spirat et imperio subdere cuncta suo,
Vertitur ecce rota, prius et qui celsior vrbis
Extitit, inferior omnibus ipse cadit.494
Fraus florere potest, set fructificare nequibit,
Nec sua radices plantula firmat humo:
Res probat in fine, cum quis tumefactus auare
880 Se dabit in precium, non fore grande lucrum.
Quisque valet speculo satis ista videre
moderno,495
Vix tamen est sapiens, qui cauet acta videns.
Hic loquitur eciam de ciue illo, qui linguosus

et Susurro inter conciues seminator
discordiarum existit. Loquitur de variis
eciam496 periculis occasione lingue male
contingentibus.
Capm. xvi. Dum Susurro manet et vir linguosus in vrbe,

Plebis in obprobrium scandala plura mouet;
Nam linguosus homo reliquos velut altera pestis
Ledit, et vt turbo sepe repente nocet.
Set quia lingua mala mundo scelus omne
ministrat,
Que sibi sunt vires dicere tendo graues.
Lingua mouet lites, lis prelia, prelia plebem,
890 Plebs gladios, gladii scismata, scisma necem;
Extirpat regnis, dat flammis, depopulatur
Lingua duces, lingua predia, lingua domos:
Lingua maritorum nexus dissoluet, et vnum
Quod deus instituit, efficit esse duo;
Lite fugantque viros nupte, nuptasque mariti,
Inque malum dicunt res sibi semper agi.
Corporis exigua pars nulli parcere nouit,
Fallax et facilis fasque nephasque loqui:
Fermentum modicum totum corrumpit aceruum;
900 Exacuens mentem singula membra mouet.
Non nichil est quod eam duplex custodia seruat,
Ne fluat in verbis impetuosa suis:
Dentibus obstruxit prudens natura palatum,
Vt claustro residens clausa silere queat;
Talis eam custos stimulis castigat acutis,
Vt nichil abrupte queque licenter agat:
Exterius datur alter ei custos labiorum,
Vt duplex duplici ianua claudat iter:
Osseus ordo prior excessus corrigit, alter
910 Carneus et madidus micia verba facit.
Hos tamen erumpit aditus quandoque latenter,
Et ruit in verba que reuocare nequit:
Impetus huius habet rerum discrimina mille,
Que velut ignis edax prospera queque vorant.
Dicere qui poterit quot in ethere lumina lucent,
Paruaque quot siccus corpora puluis habet,
Vix satis est sapiens homo talis vt omnia dicat
Semina pestifera que mala lingua serit.
Nemo referre potest mala que linguosus in vrbe
920 Parturit, et duplo prouocat ore dolos.
Res mala lingua loquax, res peior, pessima res
est,
Que quamuis careat ossibus, ossa terit:
Non locus est pacis vbi regnat lingua loquacis;
Qui nec habet pacem, non habet ipse deum:
Qui sine pace dei discordat, habere salutem
Non valet, est et opus absque salute nichil:
Omne quod adquirit sibi pax, discordia tollit,
Quicquid et ista leuans erigit, illa ruit.
Est vbi regnat amor deus; est vbi nullus amator,
930 Dirigat vt causas nescit adesse deus:
Est grauior plumbi massa sic garrula lingua,
Pondere sub cuius corruit vrbis honor.
Qui mala vult vrbi conciuis nesciat vrbem,
Ianua fallaci nec sit aperta viro:
Ore licet duplex talis canat vrbis honorem,
Corde silens tacite semina fraudis habet:
Sicut aqua piscis gaudet, letatur iniqus
Dum videt alterius dampna patere magis.
Fontem dum solus communem toxicat vnus,
940 Plebs perit et pestis magna repente venit:
Ciuis qui ciues conturbat et opprimit omnes,
Exulis aut mortis sit sibi pena prius.
Dum dens solus olet, totum caput inficit ille,
Si foris extrahitur, cessat ab inde dolor;
Sic prius extractus sit ciuis in vrbe malignus,
Quam ciuilis honor perdat in vrbe locum.
Expedit vnus enim moriatur, ne quasi tota
Gens pereat lesa de grauitate sua.
Vrbis rector, age quod sit concordia, que dat497

950 Pacem: pax etenim prospera cuncta parit.
Non sonet in populis sermo tuus impetuosus;
Dulcibus est verbis vrbis alendus amor.
Obsequium tigresque domat tumidosque leones,
Rustica paulatim taurus aratra subit;
Sic sibi quod nequeunt, valet hoc prudencia,
vires,498
Comptaque de facili pondere complet opus.
Non satis vna tenet agitatas anchora puppes,
Nec satis est liquidis vnicus hamus aquis;
Sola nec vna viri persona potest sine plebis
960 Auxilio cunctas vrbis habere vices.
Principiis obsta, si tu potes, aut sapienter
Discute paulatim quod nequis ipse simul:
Tempora dum veteris queris temeraria dampni,
Sepe magis morbum quam medicamen habent:
Curando fieri quedam maiora videmus
Vulnera, que melius non tetigisse fuit.
Flumina magna vides paruis de fontibus orta,
Flumina collectis multiplicantur aquis:
Sepius, in primo quod erat sanabile vulnus,
970 Dilatum longo tempore nescit opem.
Ad vomitum scelus est reuocabile fitque nouatum
Vulnus, et infirmis causa pusilla nocet:
Vulnus in antiqum rediet mala sana cicatrix;
Defectus cure causa prioris erat.
Vt vix extinctum cinerem sub sulphure
tangas,499
Viuit, et ex minimo maximus ignis erit;
Sic indiscrete veterem qui corripit iram,
Commouet ex facili ferre quod ipse nequit:
Quelibet extinctos iniuria suscitat ignes,
980 Quo prius oblita forcius ira redit.
Ira subit, deforme malum, lucrique cupido;
Est vbi nullus amor, vrbs habet omne nephas:
Crimina dicuntur, resonat clamoribus ether,
Inuocat iratum sic sibi quisque deum.
Pertinet ad ciues rabidos compescere mores
Candida pax homines, trux decet ira feras:
Nulla fides, vbi nullus amor, set amore remoto
Ignorat proprium quisquis in vrbe gradum.
Dum diuisa manet plebs a sapientibus vrbis,
990 Consilium multe calliditatis init:
Ignis, aqua dominans duo sunt pietate carentes,
Vulgus et indomitus peior habetur eis.
Nuper iusticia pax et concordia ciues
Rebus et in causis rectificare solet.
Nunc vbi sunt? dicas. Non hic. Cur tunc abierunt?
Liuor et argenti lamina causa fuit.
Quod dolus adquirit, lucrum durabile non est,
Invidie nec amor durat in vrbe comes.
Ablue preteriti periuria temporis, oro;
1000 Ablue preterita perfida verba die.
Sic plus quam credi poterit fortuna reviuet,
Surget et in precium quod modo vile cadit.
Assolet interdum fieri placabile numen,
Nube solet pulsa clarior esse dies:
Pax datur in terris quibus extat honesta voluntas;
Vir malus omne quod est pacis ab vrbe fugat.
Roma caput mundi fuit omni tempore, saltem
Dum communis amor rexit in vrbe forum:
Set diuisa statim viduata recessit honore,
1010 Eius et imperium perdidit omne decus.
Non honor Athenis decessit, dummodo ciues
Vnanimes odium non habuere simul;
Postea quando grauis vrbem diuisio spersit,
Ammodo de veteri sumpsit honore nichil.
Sors tamen illa deo mediante recedat ab vrbe
Nostra, que magno fulsit honore diu.
FOOTNOTES:
459 18 ita] ei D
460 Heading 1 amore DLT
461 40 Qui] Oui S
462 45 Architesis (architesis) CEHGDL Archtesis S archtesis T
463 73 Ebria CE
464 180 Molia S
465 213 temporat SGD temꝑat CEHL
466 262 Carnis EL
467 281 sic CEHGDL si S
468 325 quod erit S et erit CEHGDL
469 368 detinuere CE
470 389 hyemps C
471 390 Sic C
472 409 Paragr. here CEHT
473 417 impugnat ED impungnat SHL
474 450 Text SH₂ Illa quidem fatuos que ligat arte viros
CEHGTDL
475 454 in thalamis S interius CEHGDL
476 470 viuit C
477 471 laborat CE
478 487 f. Two lines om. DL No paragr. CEHT
479 501 nos CEGDL non SHTH₂
480 507 Si CE
481 529 Liam SL
482 637 No paragr. SD
483 643 seruisia CE
484 775 gignit CEDL gingnit SH
485 785 sibi SEHH₂ fraus CGDL
486 786 fraus capit SEHH₂ surripit CGDL
487 789 ista SG ipsa CEHD ipse L
488 799 Stans C
489 805 eciam CEHDLT etenim S sellas] cellas CEL
490 810 ffurta EDLT
491 812 Thethis (thethis) SCEHGT Thetis D tethis L
492 Cap. xv. Heading 1 ciue illo S illo ciue CEHGDLT
493 2 ministerium] officium CE
494 876 cadet CE
495 881 Quis valet in speculo D Quisquis valet speculo L
496 Cap. xvi. Heading 2 f. eciam de variis EDL
497 949 Ordinary paragraph CEDL
498 955 sibi CEHGDLH₂ vbi S
499 975 No paragr. CEHTD
Exquo de errore in singulis temporalium
gradibus existente tractatum est, iam quia
vnumquemque sub legis iusticia gubernari
oportet, tractare vlterius intendit de illis qui
iuris ministri dicuntur, quamuis tamen ipsi
omnem suis cautelis iusticiam confundunt, et
propter mundi lucrum multipliciter eneruant.
Incipit liber Sextus.
Capm. i. Sunt modo quam plures nomen de lege

gerentes,
Qui tamen in parte nomen habent sine re:
Hii sine lege dei sub lege viri quasi fictum
Vsurpant nomen legis habere suum;
Est quibus omnis amor extraneus, omnis et error
Proximus et proprii causa creata lucri:
Hic labor, hoc opus est primo cum munere iungi,
Est sine quo lingue muta loquela sue.
Qui tamen ad veras leges vacat, et sine fraude
10 Iusticiam querule proximitatis agit,
Vt psalmista canit, est vir magis ille beatus;
Paucos set tales iam sibi tempus habet.
Aurea pugna nouo sic conterit vlcere leges,
Lesa quod vlterius iura salute carent.
Hoc ego quod plebis vox clamat clamo, nec
vllos,
Sint nisi quos crimen denotat, ipse noto.
Talibus in specie, quos deuiat error auare,
Non aliis ideo scripta sequenter ago.
Legis sub clamide latet ars, qua lex sine iure
20 Vertit vt est velle quolibet acta die;
Causidici talem poterunt dum plectere legem,
Transformant verbis iura creata suis.
Iuris in effigie sunt omnia picta colore,
Quo magis occultum fert sibi lucra forum:
Iusta vel iniusta non curant quomodo causa
Stat, set vt illa lucris fertilis astet eis.
Nunc cum causidicus aduerse ius fore partis
Scit, tunc cautelas prouocat ipse suas:
Quod nequit ex lege, cautelis derogat ipse,
30 Cum nequeat causam vincere, vexat eam:
Si tamen hanc vincat, mos exigit et modo
prestat500
Legis sensati nomen habere sibi:
Nam nisi cautelis laruare sciat sibi leges,
Tunc dicent alii, deficit actus ei.
Sic actus falsi leges confundere veri
Preualet, et lucro plus capit inde suo;
Sic cum causidicus fuerit sapiencior, auctis
Legem cautelis opprimit ipse suis.
Sic lex pro forma patet, et cautela perita
40 Stat pro materia iuraque vincit ea.
Hec est linguosa gens, que vult litigiosa
In falsis causis vociferare magis.
Vult sibi causidicus seruare modum meretricis,
Que nisi sit donum nescit amare virum,
Est et, vt ipse vides, semper venalis ad omnes;
Aurum si sibi des, corpus habere potes.
Cuius enim generis aut ordinis est homo nusquam
Curat, dum poterit quicquid habere lucri.
Vt via communis astat Rome peregrinis,
50 Qui veniunt sanctis reddere vota locis;
Est ita vulgaris domibus via causidicorum,
Qua graditur populus donaque reddit eis.
Nam velut antiqui iustos strinxere tiranni,
Qui renuerunt diis reddere thura suis,
Sic modo causidicus vicinos stringit auarus,
Qui sunt inviti ferre tributa sibi,
Sic video populos modo sacrificare coactos
Causidico legis, ne male fiat eis.
Diuerse gentes, vt sufficit ipsa facultas,
60 Munera diuersa dant sibi sepe noua:
Conuenit immo tibi, donum si deficit auri,
Munus vt argenti des reuerenter ei;
Si tamen argentum non est, exennia prebe
Illi, quem saciat est quod in orbe nichil.
Singula que terra bona gignit, et ether in alto,501
Seu mare, de dono querit habere tuo;
Ex omni parte, sic post, sic congregat ante;
Dum tamen omne capit, nil tibi retro dabit.
Non vno volucres laqueo set pluribus auceps
70 Carpit, nec pisces vnicus hamus habet;
Lex in non leges iam transmutata nec vnum
Rethe, set in lucrum recia mille parat.502
Vndique casus adest legis, quo pendulus hamus
Aurea de burse gurgite dona capit;
Non via talis erit qua non scrutabitur auri
Arte vel ingenio, vi vel amore, lucrum.
Contextat tenues subtilis aranea telas,
Possit vt hiis predas illaqueare suas;
Si veniat musca volutans, cadit ipsa retenta,503
80 Nisus et a medio transiet absque malo;
Quod volat ex alis euadet fortibus illud,
Voluitur et laqueis debile quicquid adest.
Causidicus cupidus pauidos de lege propinquos
Voluit et illaqueat condicione pari;
Ignauum populum, cuius defensio nulla est,
Opprimit, et legis rethe coartat eos;
Plebs cadit in telas simplex, hominique potenti
Recia causidici dant lacerata viam.
Vespere pronus humi vespertilio volat, vti
90 Pennis pro pedibus in gradiendo solet;
Sic cuius mentem terrena sciencia ditem
Efficit, huic volucri se facit esse parem;
Iste velut circa terram volutat, quia veri504
Luminis ignarus terrea sola rapit.
Dicitur in noctem subtilis noctua visu
Esse, nitente die luce minore frui;
Hanc imitantur auem legis qui sunt sapientes,
Vt mala noctis agant, nec bona lucis habent.
Sepius illa tamen quam preda rapit sibi mors est,
100 Dum latet occulto finis habendus ei:
Improuisus adest cum pullos tollere miluus,
Esurit, et fraude fraus sua sepe cadit:
Sic capiens capitur, sic qui vorat ipse voratur,
Infelix hamum quo capietur amat.
Hic loquitur de causidicis et aduocatis illis,

qui vicinum populum depredantes, ex bonisque
alienis ditati, largissimas sibi possessiones
adquirunt: de quibus tamen, vt dicitur, vix
gaudet tercius heres.
Capm. ii. Plusquam Cilla maris rapiens sibi deuorat

vndas,
Causidicus patriam deuorat ipse suam;
Plus cane qui siluis predam sibi querit in amplis,
Causidicus lucrum querit habere suum;
Nec canis hic predam plus stringit, dum capit illam
110 Dentibus, vt carnes deuoret ipse suas,
Quin plus causidicus stringit de lege clientem,
Munus vt argenti possit habere sibi.
Vt solet ancipiter trepidas vrgere columbas,
Causidicus gentes vrget et angit eas:
Vt tremit agna pauens, nouiter que saucia canis
Est euasa lupis, nec bene tuta manens;
Vtque columba suo madefactis sanguine plumis
Horret adhuc vngues, heserat illa quibus;
Sic pauet a laqueis oppressus causidicorum
120 Pauper, et inde sui clamat in aure dei.
Vulnera plebeia medicus desiderat, vt sic
Det dolor alterius munera leta sibi;
Gentes causidicus discordes optat, vt ipse
Prospera de lite gentis habere queat.
Ex hoc quod perdis lucratur, sique lucreris,
Hinc tecum partem querit habere suam;
Cum plenam dextram teneat, tunc ipse sinistram
Tendit, que sibimet insaciata manet.
Sic quacumque via furit Eurus, semper in aura
130 Velum tranquillum gestat ad omne fretum:
Sic viget ex auro loculus pregnans alieno;
Quod male concepit, peius id ipse parit:
Nam modus est legis cito cum locuplex fore
nummis
Possit, tunc terras appetit ipse nouas.
Vt constricta fame lupa more suo catulorum
Querit habere suos lata per arua cibos,
Sic cum causidico sit proles aucta, per omnes
Machinat insidias, de quibus auget opes.
O sine tunc requie conspirans nocte dieque,
140 Vt capiat lucrum, temptat vbique forum;
Tuncque domos domibus, campos iungit quoque
campis,
Vellet vt hiis per se solus in orbe fore:
Sic rapiens oua fouet vt perdix aliena,
Set de fine patet quid sibi iuris habet.
Que pater in studio quesiuit vix sibi magno,
Dissipat in vicio filius ipse cito;
Et que fraude sua sapiens mundi cumulata
Strinxerat, hec stultus laxat abire vagus;
Sic male quesitis non gaudet tercius heres,505
150 Set rapit hec mundus que dedit ipse prius.
Causidico fore ve patet ex dictis Ysaïe,
Namque domum vidue dissipat ille male.
Hic loquitur de causidicis et aduocatis illis,

qui quanto plures sunt in numero, tanto magis
lucra sicientes patriam deuorant, et iuris colore
subtilia plectentes, suis cautelis innocentem
populum formidantem illaqueant.
Capm. iii. Cum fuerint tribuli summe maioris aborti,

Sunt blada depresso facta minora solo;
Cum magis atque suis Sus fuderit vbera natis,
Est macies lateris macrior acta Suis.
Cum magis et numerum lex auget causidicorum,
Tum gemit in patriis plebs spoliata magis.
Vt blada que mersa torrens supervndat aquarum,
160 Vellit et extirpat quicquid adheret humo,
Concio lege rapax sic multiplicata virorum
Lucra, superficies que tenet orbis, habet.
Non valet esse salus, medicus dum vulnerat
egros,
Addit et ad dampnum dampna furore suo;
Sic, vbi causidici causas sine iure revoluunt,
Esse quies longo tempore certa nequit.
Sunt ita continua presentibus ista diebus,
Vix vt ab hoc morbo sanus abibit homo.
Aurea dum leges lanx ponderat, equa statera
170 Non erit, hoc et opus iura moderna docent.
Scribitur, os auri Crisostomus ipse gerebat;
Sub sermone latens illa figura fuit:
Aurea de facto gestant tamen ora potentes
Causidici, qui nunc aurea cuncta vorant.
Pondere subtili species venduntur, vt emptor
Circumventus eo nesciat inde forum;
Est tamen ecce modo pondus subtilius, in quo
Venduntur verba legis in arte sua.
Quicquid agant leges, hominis lex interioris
180 Gestat ab interius iudicis illud onus:
Omnia dat gratis dominus, set legis auarus
Sermonem nullum dat nisi vendat eum.
Si bene promittant, totidem promittere verbis
Ius foret, et pactis pacta referre suis:
Hii tamen ante manum, quicquid de fine sequetur,
Sepius inmerito premia ferre petunt.
Sic magis obliqua lanx nescit pondera iuris,506
Quo ruit in tortam, que foret equa, viam;
Sic solet iniustum fieri sub nomine iusto,
190 Quod foret et fidum, fit magis absque fide:
Causidici legem proponunt esse beatam,
Concludunt set eam facta per ipsa malam.
De ligno quicquid rectum si vir sibi sumat,
Ad visum claris subdet et illud aquis,507
Apparet tortum sibi quod fuit ordine rectum;
Sic ad propositum lex agit ecce meum.
Nam si causidico modo dicam ius manifestum,
Quod michi iusticia nulla negare potest,
Ipse suum lucrum conspirans quicquid ad ipsum
200 Dixero subuertet, multa pericla mouens;
Conficit ex mellis dulcedine fellis amarum,
Vrtice similem fingit et esse rosam,
Et velut ex flatu Basiliscus toxicat oris
Aera, quo peste proxima vita perit,
Est quod plus sanum, sic ius vir iuris ad aures
Inficit ex verbis, plenus in ore dolis:
Et sic vulpis ouem terret predoque viantem
Predat, sicque dolus cogit abire fidem.
Micius est lapso digitum supponere mento,
210 Mergere quam liquidis ora natantis aquis:
Miror eo, causas inopum qui lege tueri
Deberet, cicius aggrauat auctor opus.
Sompnia perturbant quam sepe viros sine
causa,
Non res set sompno visa figura rei;
Sic tibi causidicus fingens quam sepe pericla,
Est vbi plus rectum, diuaricabit iter:
Mente tibi loquitur dubia, nam nemo dolose
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Using Quickbooks Accountant For Accounting 2018 Glenn Owen Ebook Full Chapter

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Using Quickbooks Accountant For Accounting 2018 Glenn Owen Ebook Full Chapter

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Using Quickbooks Accountant for

Accounting 2018 Glenn Owen

Australia • Brazil • Mexico • Singapore • United Kingdom • United States

Product Manager: Christopher Rader

Production Service: Lumina Datamatics, Inc.

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Printed in the United States of America

Part 1 Getting Started with QuickBooks

Chapter 2 Preparing a Balance Sheet Using

Chapter 3 Preparing an Income Statement

Chapter 4 Preparing a Statement of Cash

Chapter 5 Creating Supporting Reports to

Part 2 Creating a QuickBooks Accountant File

Chapter 7 Cash-Oriented Business Activities 146

Chapter 8 Additional Business Activities 224

Chapter 9 Adjusting Entries 270

Chapter 10 Budgeting 298

Chapter 11 Reporting Business Activities 322

Chapter 12 Managing Fixed Assets 365

Appendix 1 Payroll Taxes 392

Appendix 2 Traditional Accounting:

Appendix 3 Helpful References 413

Index 427 iii

Prefaceix Chapter 2 Preparing a Balance

Chapter 4 Preparing a Statement of Part 2 Creating a QuickBooks

Chapter 7 Cash-Oriented Business Recording Noncash Investing and

Assignment 1: Adding More Information: Creating Graphs to Illustrate

Assignment 2: Adding More Information: General Ledger 405

Appendix 2 Traditional Accounting: Index 427

What if you could integrate a popular computerized accounting program into

Why Is This Textbook Needed?

QuickBooks Pro vs. QuickBooks Accountant

What Are the Goals of This Textbook?

What Are the Key Features of This Textbook?

for transactions, QuickBooks Accountant automatically warns you of transactions

Glenn Owen is a retired Professor of Accounting at Allan Hancock College where

QuickBooks Version, Passwords, and Payroll

In this Part, you will:

Student Learning Outcomes

Case: Larry’s Landscaping & Garden Supply

Using This Text Effectively

What Is QuickBooks Accountant?

Here is where you enter specific data

Figure 1.3 Note the Cash payments Cash receipts

Balances are calculated after

The financial effects of business transactions may be entered directly into

Reports and Graphs

QuickBooks Accountant can also graph data to illustrate a company’s financial

A bar chart helps

A pie chart helps you

Launching QuickBooks Accountant

To launch QuickBooks Accountant in Windows:

To restore a backup file to its original format:

7 Click Next in the Open or Restore Company window.

9 Click Save to restore the file.

The QuickBooks Accountant Window

Vendors, Employees, and Banking menus provide easy access to QuickBooks

Backing Up and Closing a QuickBooks

‘‘Maintaining backups is important just in case your original file is some-

Quia varias rerum proprietates vsui humano

Chapter 7 Cash-Oriented Business Activities 146

Chapter 8 Additional Business Activities 224

Chapter 9 Adjusting Entries 270

Chapter 10 Budgeting 298

Chapter 11 Reporting Business Activities 322

Chapter 12 Managing Fixed Assets 365

Appendix 1 Payroll Taxes 392

Appendix 3 Helpful References 413

Index 427 iii

Prefaceix Chapter 2 Preparing a Balance

Assignment 2: Adding More Information: General Ledger 405

Appendix 2 Traditional Accounting: Index 427