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NOT IN USE - Computerized Accounting with QuickBooks Online, 4e (Santa Monica College)

ISBN: | Copyright 2021

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Computerized Accounting with QuickBooks Online, 4e (pg. 1.iii)
About the Authors (pg. 1.iii)
Preface (pg. 1.iv)
Brief Table of Contents (pg. 1.xiv)
Contents (pg. 1.xv)
Section One Introduction (pg. 1.1-1)
Section Overview (pg. 1.1-2)
Chapter 1 Introduction to QuickBooks Online (QBO) (pg. 1.1-3)
A Little Background (pg. 1.1-4)
Quickbooks Online (pg. 1.1-5)
Before We Go Any Further (pg. 1.1-6)
Where To Go For Help (pg. 1.1-6)
Practice (pg. 1.1-7)
Accessing the Test Drive Company (pg. 1.1-7)
Moving Around in Quickbooks Online (pg. 1.1-9)
Accessing Tools (pg. 1.1-9)
Forms (pg. 1.1-13)
Multiple Open Screens (pg. 1.1-16)
Finding Transactions (pg. 1.1-17)
Practice Exercise 1.1 (pg. 1.1-19)
Organization of Quickbooks Online (pg. 1.1-20)
The Importance of “Lists” (pg. 1.1-20)
Adding, Editing, or Deleting Accounts (pg. 1.1-21)
Practice Exercise 1.2 (pg. 1.1-24)
Other Lists in QuickBooks Online (pg. 1.1-25)
Editing a Product or Service Item (pg. 1.1-25)
Transactions in Quickbooks Online (pg. 1.1-27)
Reporting (pg. 1.1-28)
Customizing Reports (pg. 1.1-30)
Printing Reports (pg. 1.1-35)
Practice Exercise 1.4 (pg. 1.1-36)
Chapter Shortcuts (pg. 1.1-37)
Chapter Review (pg. 1.1-38)
Beyond the Clicks-Thinking Like a Manager (pg. 1.1-39)
Assignment (pg. 1.1-39)
Chapter 2 Setting Up Company Files (pg. 1.2-1)
Introduction (pg. 1.2-2)
Setting Up Company Files in QBO (pg. 1.2-3)
Setting Up Brand New Companies in QBO (pg. 1.2-3)
Converting Existing Companies to QBO (pg. 1.2-5)
Customizing QuickBooks Online (pg. 1.2-6)
Editing Settings In a Company File (pg. 1.2-6)
Practice Exercise 2.1 (pg. 1.2-10)
Setting Up Your Company File (pg. 1.2-10)
STEP 1-Decide on the email account you want to use. (pg. 1.2-10)
STEP 2-Read the background information for the homework company assigned by your instructor included (pg. 1.2-11)
STEP 3-Activate your subscription. (pg. 1.2-11)
STEP 4-Answer the informational questions that appear in the next set of screens. (pg. 1.2-12)
STEP 5-Change the settings. (pg. 1.2-16)
STEP 6-Purge the chart of accounts. (pg. 1.2-19)
STEP 7-Import a new chart of accounts. (pg. 1.2-20)
STEP 8-Import the products and services list. (This process will be similar to the import of the cha (pg. 1.2-22)
STEP 9-Import customers. (This process will be similar to the import of products and services.) (pg. 1.2-24)
STEP 10-Import vendors. (This process will be similar to the import of customers.) (pg. 1.2-26)
STEP 11-Import invoices. (pg. 1.2-27)
STEP 12-Check your balances. (pg. 1.2-30)
Chapter Shortcuts (pg. 1.2-30)
Chapter Review (pg. 1.2-31)
Beyond the Clicks-Thinking Like a Manager (pg. 1.2-32)
Assignments (pg. 1.2-32)
Appendix 2A Setting Up Your Google Gmail Account (pg. 1.2-46)
If This Is Your First Gmail Account (pg. 1.2-46)
If You Already Have a Gmail Account (pg. 1.2-48)
Chapter 3 Sales Activity (Service Company) (pg. 1.3-5)
What is the Sales Cycle in a Service Company? (pg. 1.3-6)
Setting Up Standard Sales Settings (pg. 1.3-6)
Practice Exercise 3.1 (pg. 1.3-7)
Managing Customers (pg. 1.3-8)
Customer Center Display (pg. 1.3-8)
Adding a Customer (pg. 1.3-10)
Viewing Customer Information (pg. 1.3-12)
Changing Customer Information (pg. 1.3-13)
Inactivating a Customer (pg. 1.3-14)
Practice Exercise 3.2 (pg. 1.3-15)
Managing Service Items (pg. 1.3-16)
Organizing Products and Services (pg. 1.3-17)
Adding a Service Item (pg. 1.3-19)
Editing Products and Services (pg. 1.3-21)
Practice Exercise 3.3 (pg. 1.3-22)
Setting Up Credit Terms (pg. 1.3-23)
Practice Exercise 3.4 (pg. 1.3-25)
Recording Sales Revenue (pg. 1.3-26)
Recording Sales on Account (pg. 1.3-26)
Recording Cash Sales (pg. 1.3-29)
Practice Exercise 3.5 (pg. 1.3-31)
Recording Payments from Customers (pg. 1.3-32)
Payments on Account (pg. 1.3-33)
Practice Exercise 3.6 (pg. 1.3-36)
Making Deposits (pg. 1.3-36)
Practice Exercise 3.7 (pg. 1.3-38)
Recording Customer Credits and Refunds (pg. 1.3-39)
Creating Credit Memos with Automatic Application Set as the Preference (pg. 1.3-40)
Creating Credit Memos with Manual Application (Automatic Application Preference Turned Off) (pg. 1.3-42)
Issuing Refunds to Customers (pg. 1.3-43)
Practice Exercise 3.8 (pg. 1.3-45)
Sales and Customer Reports (pg. 1.3-47)
Practice Exercise 3.9 (pg. 1.3-49)
Sales Cycle Summary (pg. 1.3-50)
Chapter Shortcuts (pg. 1.3-51)
Chapter Review (pg. 1.3-51)
Beyond the Clicks-Thinking Like a Manager (pg. 1.3-52)
Assignments (pg. 1.3-53)
Chapter 4 Purchasing Activity (Service Company) (pg. 1.4-1)
What is the Purchase Cycle in a Service Company? (pg. 1.4-2)
Managing Vendors (pg. 1.4-2)
Vendor Center Display (pg. 1.4-3)
Adding a Vendor (pg. 1.4-4)
Viewing Vendor Information (pg. 1.4-6)
Editing Vendor Information (pg. 1.4-7)
Inactivating a Vendor (pg. 1.4-7)
Practice Exercise 4.1 (pg. 1.4-8)
Recording Purchases (pg. 1.4-9)
Automation in QBO (pg. 1.4-9)
Purchasing on Account (pg. 1.4-11)
Practice Exercise 4.2 (pg. 1.4-13)
Purchasing with Cash or Check (pg. 1.4-14)
Practice Exercise 4.3 (pg. 1.4-15)
Voiding Checks (pg. 1.4-16)
Practice Exercise 4.4 (pg. 1.4-18)
Purchasing with a Credit Card (pg. 1.4-19)
Practice Exercise 4.5 (pg. 1.4-21)
Paying Vendor Balances (pg. 1.4-22)
Paying Multiple Vendor Bills (pg. 1.4-23)
Paying One or More Bills from a Single Vendor (pg. 1.4-25)
Purchases Cycle Summary (pg. 1.4-26)
Practice Exercise 4.6 (pg. 1.4-26)
Vendor Reports (pg. 1.4-27)
Practice Exercise 4.7 (pg. 1.4-27)
Chapter Shortcuts (pg. 1.4-28)
Chapter Review (pg. 1.4-29)
Beyond the Clicks-Thinking Like a Manager (pg. 1.4-30)
Assignments (pg. 1.4-30)
Appendix 4A Reporting 1099 Vendor Activity (pg. 1.4-38)
Chapter 5 End-of-Period Activity (Service Company) (pg. 1.5-1)
Before Issuing Financial Statements (pg. 1.5-2)
Reconciling Bank and Credit Card Accounts (pg. 1.5-3)
Bank Reconciliations (pg. 1.5-3)
Practice Exercise 5.1 (pg. 1.5-7)
Credit Card Reconciliations (pg. 1.5-8)
Practice Exercise 5.2 (pg. 1.5-12)
Making Adjusting Journal Entries (pg. 1.5-12)
Practice Exercise 5.3 (pg. 1.5-14)
Preparing Financial Statements (pg. 1.5-15)
Practice Exercise 5.4 (pg. 1.5-18)
Closing a Period (pg. 1.5-18)
Closing an Accounting Period (pg. 1.5-19)
Practice Exercise 5.5 (pg. 1.5-20)
Year-end Closing (pg. 1.5-21)
Chapter Shortcuts (pg. 1.5-22)
Chapter Review (pg. 1.5-22)
Beyond the Clicks-Thinking Like a Manager (pg. 1.5-23)
Assignments (pg. 1.5-23)
Appendix 5A Getting It Right (pg. 1.5-29)
Appendix 5B Understanding The Reconciliation Report (pg. 1.5-31)
Appendix 5C Fixing Reconciliation Errors (pg. 1.5-34)
Section Three Merchandising Companies (pg. 1.6-1)
Controls in QuickBooks Online (pg. 1.6-1)
Managing Users (pg. 1.6-1)
Adding Users (pg. 1.6-2)
Editing, Monitoring, and Deleting Users (pg. 1.6-7)
Reporting on Transaction History (pg. 1.6-7)
Section Overview (pg. 1.6-8)
Chapter 6 Sales Activity (Merchandising Company) (pg. 1.6-9)
What is the Sales Cycle in a Merchandising Company? (pg. 1.6-10)
Managing Customers (pg. 1.6-10)
Setting Up Sub-Customers (pg. 1.6-10)
Practice Exercise 6.1 (pg. 1.6-11)
Shipping Addresses (pg. 1.6-11)
Practice Exercise 6.2 (pg. 1.6-12)
Managing Sales Taxes (pg. 1.6-12)
Setting Up Sales Taxes (pg. 1.6-13)
Managing the Tax Status of Customers (pg. 1.6-17)
Practice Exercise 6.3 (pg. 1.6-19)
Managing Items (Merchandising Company) (pg. 1.6-19)
Setting Up Inventory Items (pg. 1.6-20)
Practice Exercise 6.4 (pg. 1.6-25)
Recording Sales Revenue (pg. 1.6-25)
Customer Discounts (pg. 1.6-26)
Practice Exercise 6.5 (pg. 1.6-28)
Delayed Charges and Delayed Credits (pg. 1.6-29)
Practice Exercise 6.6 (pg. 1.6-33)
Recording Uncollectible Accounts (pg. 1.6-34)
Practice Exercise 6.7 (pg. 1.6-37)
Recording Payments From Customers (pg. 1.6-38)
Customer Payments by Credit Card (pg. 1.6-38)
Practice Exercise 6.8 (pg. 1.6-39)
Practice Exercise 6.9 (pg. 1.6-41)
Early Payment Discounts (pg. 1.6-41)
Practice Exercise 6.10 (pg. 1.6-43)
Customer Checks Returned by Bank Due to Insufficient Funds (NSF Checks) (pg. 1.6-44)
Practice Exercise 6.11 (pg. 1.6-46)
Customer Reports (pg. 1.6-47)
Practice Exercise 6.12 (pg. 1.6-48)
Customer Statements (pg. 1.6-49)
Practice Exercise 6.13 (pg. 1.6-50)
Chapter Shortcuts (pg. 1.6-51)
Chapter Review (pg. 1.6-51)
Beyond the Clicks-Thinking Like a Manager (pg. 1.6-52)
Assignments (pg. 1.6-52)
Chapter 7 Purchasing Activity (Merchandising Company) (pg. 1.7-1)
What is the Purchase Cycle in a Merchandising Company? (pg. 1.7-2)
Purchasing Inventory (pg. 1.7-2)
Paying at Time of Purchase (pg. 1.7-3)
Practice Exercise 7.1 (pg. 1.7-4)
Ordering Inventory (pg. 1.7-5)
Practice Exercise 7.2 (pg. 1.7-7)
Practice Exercise 7.3 (pg. 1.7-9)
Receiving Ordered Inventory (pg. 1.7-11)
Practice Exercise 7.4 (pg. 1.7-13)
Practice Exercise 7.5 (pg. 1.7-15)
Managing Purchase Orders (pg. 1.7-16)
Practice Exercise 7.6 (pg. 1.7-17)
Ordering Inventory Without Using the Purchase Order System (pg. 1.7-18)
Vendor Credits (pg. 1.7-18)
Entering Credits from Vendors (pg. 1.7-18)
Applying Credits from Vendors (pg. 1.7-19)
Practice Exercise 7.7 (pg. 1.7-20)
Special Considerations for Returns of Inventory (pg. 1.7-21)
Practice Exercise 7.8 (pg. 1.7-23)
Paying Vendor Balances (pg. 1.7-23)
Early Payment Discounts (pg. 1.7-23)
Practice Exercise 7.9 (pg. 1.7-26)
Vendor Reports (pg. 1.7-27)
Practice Exercise 7.10 (pg. 1.7-27)
Chapter Shortcuts (pg. 1.7-28)
Chapter Review (pg. 1.7-28)
Beyond the Clicks-Thinking Like a Manager (pg. 1.7-29)
Assignments (pg. 1.7-29)
Chapter 8 End-of-Period and Other Activity (Merchandising Company) (pg. 1.8-1)
Adjusting Inventory (pg. 1.8-2)
Practice Exercise 8.1 (pg. 1.8-6)
Managing Sales Taxes (pg. 1.8-6)
Remitting Sales Tax Liabilities (pg. 1.8-8)
Adjusting Sales Tax Liabilities (pg. 1.8-11)
Deleting Sales Tax Payments (pg. 1.8-13)
Entering Cash Receipts from Non-Customers (pg. 1.8-15)
Practice Exercise 8.2 (pg. 1.8-16)
Recording Bank Transfers (pg. 1.8-17)
Practice Exercise 8.3 (pg. 1.8-17)
Uploading Credit Card Transactions Into QBO (pg. 1.8-18)
Inactivating and merging general ledger accounts (pg. 1.8-22)
Inactivating an Account (pg. 1.8-22)
Merging Accounts (pg. 1.8-24)
Practice Exercise 8.4 (pg. 1.8-25)
Adding Notes to Reports (pg. 1.8-26)
Practice Exercise 8.5 (pg. 1.8-28)
Chapter Shortcuts (pg. 1.8-29)
Chapter Review (pg. 1.8-29)
Beyond the Clicks-Thinking Like a Manager (pg. 1.8-30)
Assignments (pg. 1.8-30)
Appendix 8A Downloading Bank Transactions Into QBO (pg. 1.8-40)
Setting Banking Rules (pg. 1.8-43)
Section Four Beyond the Basics (pg. 1.9-1)
Chapter 9 Management Tools (pg. 1.9-3)
Tracking by Class and Location (pg. 1.9-4)
Turning on Class Tracking (pg. 1.9-5)
Turning on Location Tracking (pg. 1.9-7)
Practice Exercise 9.1 (pg. 1.9-9)
Setting Up Classes and Locations (pg. 1.9-9)
Practice Exercise 9.2 (pg. 1.9-12)
Adding Class to Item Records (pg. 1.9-13)
Practice Exercise 9.3 (pg. 1.9-14)
Adding Class and Location to Transactions (pg. 1.9-15)
Practice Exercise 9.4 (pg. 1.9-16)
Reporting by Class or Location (pg. 1.9-17)
Creating and Using Budgets (pg. 1.9-19)
Creating Budgets (pg. 1.9-20)
Practice Exercise 9.5 (pg. 1.9-23)
Creating Budget Reports (pg. 1.9-24)
Practice Exercise 9.6 (pg. 1.9-24)
Reversing Entries (pg. 1.9-25)
Practice Exercise 9.7 (pg. 1.9-28)
Recurring Transactions (pg. 1.9-28)
Practice Exercise 9.8 (pg. 1.9-31)
Chapter Shortcuts (pg. 1.9-32)
Chapter Review (pg. 1.9-33)
Beyond the Clicks-Thinking Like a Manager (pg. 1.9-34)
Assignments (pg. 1.9-34)
Appendix 9A Creating and Managing Tags (pg. 1.9-48)
Creating Tag Groups (pg. 1.9-48)
Creating Tags (pg. 1.9-50)
Adding Tags to Transactions (pg. 1.9-51)
Reporting on Tagged Transactions (pg. 1.9-52)
How Does Tagging Differ From Classes and Locations? (pg. 1.9-52)
Chapter 10 Project Tracking and Billing for Time and Expenses (pg. 1.10-1)
Before We Begin (pg. 1.10-2)
Working With Projects (pg. 1.10-2)
Setting Up Projects (pg. 1.10-2)
Practice Exercise 10.1 (pg. 1.10-4)
Managing Projects (pg. 1.10-5)
Setting Up Independent Contractors (pg. 1.10-7)
Practice Exercise 10.2 (pg. 1.10-9)
Using Timesheets To Track Hours (pg. 1.10-9)
Setting Up Time Tracking (pg. 1.10-10)
Entering Timesheet Data (pg. 1.10-10)
Practice Exercise 10.3 (pg. 1.10-12)
Tracking Costs Other Than Labor By Project (pg. 1.10-14)
Turning on Features for Tracking and Billing Direct Expenses (pg. 1.10-14)
Accounting for Direct Costs Billed to Customers (pg. 1.10-15)
Practice Exercise 10.4 (pg. 1.10-18)
Identifying Costs as Billable (pg. 1.10-19)
Practice Exercise 10.5 (pg. 1.10-20)
Billing for Time and Costs (pg. 1.10-21)
Practice Exercise 10.6 (pg. 1.10-23)
Preparing Project Reports (pg. 1.10-25)
Practice Exercise 10.7 (pg. 1.10-26)
Chapter Shortcuts (pg. 1.10-26)
Chapter Review (pg. 1.10-27)
Beyond the Clicks-Thinking Like a Manager (pg. 1.10-28)
Assignments (pg. 1.10-28)
Appendix 10A Working with Estimates (pg. 1.10-41)
Activating Progress Invoicing (pg. 1.10-41)
Creating Estimates (pg. 1.10-42)
Creating Invoices from Estimates (pg. 1.10-44)
Creating Change Orders (pg. 1.10-47)
Creating Purchase Orders from Estimates (pg. 1.10-48)
Chapter 11 Additional Tools (pg. 1.11-1)
Saving Customized Reports (pg. 1.11-2)
Practice Exercise 11.1 (pg. 1.11-5)
Creating Management Reports (pg. 1.11-6)
Practice Exercise 11.2 (pg. 1.11-11)
Creating Custom Fields (pg. 1.11-12)
Practice Exercise 11.3 (pg. 1.11-14)
Customizing Forms (pg. 1.11-14)
Using Customized Forms (pg. 1.11-18)
Exporting Reports to Excel (pg. 1.11-19)
Uploading and Managing Attachments (pg. 1.11-21)
Adding Attachments to Customer or Vendor Records (pg. 1.11-21)
Adding Attachments to Transactions (pg. 1.11-22)
Adding Attachments Directly to the Attachment Lists (pg. 1.11-23)
Uploading Receipts (pg. 1.11-25)
Chapter Shortcuts (pg. 1.11-27)
Chapter Review (pg. 1.11-28)
Beyond the Clicks-Thinking Like a Manager (pg. 1.11-29)
Assignments (pg. 1.11-29)
Section Five Paying Employees (pg. 1.12-1)
Before We Move Forward (pg. 1.12-1)
Chapter 12 Payroll Activity (pg. 1.12-3)
What is the Payroll Cycle? (pg. 1.12-4)
Processing Payroll in QBO (pg. 1.12-4)
Payroll Plans Available in QBO (pg. 1.12-5)
Chapter 12 Structure (pg. 1.12-5)
Payroll Primer (pg. 1.12-5)
Becoming an Employer (pg. 1.12-5)
Hiring Employees (pg. 1.12-5)
Compensation (pg. 1.12-7)
Payroll Taxes-Reporting and Remitting (pg. 1.12-8)
Other Payroll Deductions and Costs (pg. 1.12-9)
Payroll System Walkthrough (pg. 1.12-9)
Step 1-Set Up A New Company File (pg. 1.12-9)
Step 2-Activate Payroll (pg. 1.12-19)
Step 3-Add Employees (pg. 1.12-22)
Step 4-Set Up Payroll Taxes (pg. 1.12-30)
Step 5-Set Up Bank Connections (pg. 1.12-32)
Step 6-Finish The Payroll Setup (pg. 1.12-37)
Step 7-Map Payroll Accounts (pg. 1.12-38)
Step 8-Process Payroll (pg. 1.12-42)
Step 9-Review Payroll Tax Liabilities in Payroll Tax Center (pg. 1.12-44)
Step 10-Access Payroll Reports (pg. 1.12-45)
Chapter Shortcuts (pg. 1.12-45)
Chapter Review (pg. 1.12-45)
Beyond the Clicks-Thinking Like a Manager (pg. 1.12-46)
Assignment (pg. 1.12-47)
Section Six Automation, Data Analysis, and QBO (pg. 1.13-1)
Chapter 13 Big Data and Data Analysis, Cognitive Technologies, and QBO (pg. 1.13-3)
What Is Big Data? (pg. 1.13-4)
Types and Sources of Data (pg. 1.13-4)
What Is Data Analytics? (pg. 1.13-5)
What Are Cognitive Technologies? (pg. 1.13-6)
Artificial Intelligence in QBO (pg. 1.13-7)
Privacy and Ethical Issues With Big Data (pg. 1.13-8)
Beyond the Numbers and Into the Future (pg. 1.13-9)
Appendix A Is Computerized Accounting Really the Same as Manual Accounting? (pg. 1.A-1)
Accrual and Cash Basis Accounting in Quickbooks Online (pg. 1.A-3)
Comparison of Computerized and Manual Accounting Systems (pg. 1.A-4)
Journal Entries (pg. 1.A-5)
Journals (pg. 1.A-6)
General Ledger and T-Accounts (pg. 1.A-8)
Trial Balances (pg. 1.A-8)
Appendix B Account Types and Common Transaction Types used in QBO (pg. 1.B-1)
Appendix C Common Options Available on Various Forms (pg. 1.C-1)
Glossary (pg. 1.G-1)
Index (pg. 1.I-1)
Computerized Accounting with QuickBooks Online, 4e (Williams, Johnson)
Errata
Last Updated: Feb 16 2021

Corrections to identified errors in the the text.

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Getting Started
Last Updated: Jan 14 2021

Includes:

  • Information about logging into the test-drive company used to illustrate processes in QBO
  • Obtaining your QBO license
  • Downloading the files needed to set up your homework company
  • Accessing content on myBusinessCourse (if used by your instructor)


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Updates for Changes in QBO
Last Updated: Jun 25 2021

Updates include:

  • Ch 02 New Steps 3 & 4 for homework company setup
  • Ch 03 New Setup Questions for Invoicing - NEW
  • Ch 10 Issue with Projects 
  • Ch 10 New Timesheet Process
  • Ch 11 New Process for Creating Custom Fields - NEW
  • Ch 12 New Steps for Payroll System Walkthrough REVISED 1/11/21
  • Changes to QBO (2020 2021 academic year) REVISED 2/16/21
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Math Revealed! Import Files
Last Updated: Jan 13 2021

Includes five Excel files for the homework company setup in Chapter 2, one CSV file of uploading credit card transactions in Chapter 8, and one PDF file for uploading a receipt in Chapter 11

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Salish Software Solutions Import Files
Last Updated: Jan 13 2021

Includes five Excel files for the homework company setup in Chapter 2, one CSV file of uploading credit card transactions in Chapter 8, and one PDF file for uploading a receipt in Chapter 11

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Certiport Mapping
Last Updated: Jan 13 2021

Includes:

  • Mapping of the objectives of the QuickBooks Online Certified User exam, administered by Certiport, to the coverage (page number) in the textbook.
  • Video with additional information for Certiport Exam takers. Closed-captioned video available in the Certification Module as part of myBusinessCourse.
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