Stephen L. Nelson
QuickBooks 2021 All-In-One for Dummies
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Stephen L. Nelson
QuickBooks 2021 All-In-One for Dummies
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Do the numbers in double-quick time with this trusted QuickBooks bestseller!Running your own business can be cool, but some of the financial side--accounting and payroll, for instance--is not always so cool! That's why millions of small business owners around the world bank on QuickBooks to easily manage accounting and financial tasks and save big-time on shelling out for an expensive professional.QuickBooks 2021 All-in-One For Dummies contains eight information-rich mini-books that account for all your financial line-item asks, showing you step-by-step how to plan your perfect budget,…mehr
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Do the numbers in double-quick time with this trusted QuickBooks bestseller!Running your own business can be cool, but some of the financial side--accounting and payroll, for instance--is not always so cool! That's why millions of small business owners around the world bank on QuickBooks to easily manage accounting and financial tasks and save big-time on shelling out for an expensive professional.QuickBooks 2021 All-in-One For Dummies contains eight information-rich mini-books that account for all your financial line-item asks, showing you step-by-step how to plan your perfect budget, simplify tax returns, manage inventory, create invoices, track costs, generate reports, and accurately check off every other accounting and financial-management task that comes across your desk!_ Get the most out of QuickBooks 2021_ Sharpen up on the basics with an accounting primer_ Craft a world-class business plan_ Process taxes and payroll in double-quick timeWritten by expert CPA and small business advisor Stephen L. Nelson, QuickBooks All-in-One 2021 For Dummies is the best-selling blue-chip go-to that will save you time and money--and will allow you to enjoy the fruits of your labors!
Produktdetails
- Produktdetails
- Verlag: For Dummies / Wiley & Sons
- Artikelnr. des Verlages: 1W119676800
- Seitenzahl: 624
- Erscheinungstermin: 10. Dezember 2020
- Englisch
- Abmessung: 235mm x 191mm x 33mm
- Gewicht: 622g
- ISBN-13: 9781119676805
- ISBN-10: 1119676800
- Artikelnr.: 60010961
- Verlag: For Dummies / Wiley & Sons
- Artikelnr. des Verlages: 1W119676800
- Seitenzahl: 624
- Erscheinungstermin: 10. Dezember 2020
- Englisch
- Abmessung: 235mm x 191mm x 33mm
- Gewicht: 622g
- ISBN-13: 9781119676805
- ISBN-10: 1119676800
- Artikelnr.: 60010961
Stephen L. Nelson, MBA, CPA, holds an MS in Taxation and provides accounting, business advisory, and tax planning and preparation services to small businesses as a CPA. He has written more than 100 books on computers and financial management.
Introduction 1About This Book 1Foolish Assumptions 2Icons Used in This Book 3Beyond the Book 4Where to Go from Here 4Book 1: An Accounting Primer 7Chapter 1: Principles of Accounting 9The Purpose of Accounting 10The big picture 10Managers, investors, and entrepreneurs 10External creditors 11Government agencies 11Business form generation 12Reviewing the Common Financial Statements 12The income statement 13Balance sheet 16Statement of cash flows 19Other accounting statements 22Putting it all together 23The Philosophy of Accounting 25Revenue principle 25Expense principle 26Matching principle 26Cost principle 26Objectivity principle 27Continuity assumption 27Unit-of-measure assumption 27Separate-entity assumption 28A Few Words about Tax Accounting 28Chapter 2: Double-Entry Bookkeeping 29The Fiddle-Faddle Method of Accounting 30How Double-Entry Bookkeeping Works 33The accounting model 33Talking mechanics 35Almost a Real-Life Example 38Recording rent expense 39Recording wages expense 39Recording supplies expense 40Recording sales revenue 40Recording cost of goods sold 41Recording the payoff of accounts payable 41Recording the payoff of a loan 42Calculating account balance 42Using T-account analysis results 44A Few Words about How QuickBooks Works 46Chapter 3: Special Accounting Problems 49Working with Accounts Receivable 50Recording a sale 50Recording a payment 50Estimating bad-debt expense 51Removing uncollectible accounts receivable 52Recording Accounts Payable Transactions 53Recording a bill 54Paying a bill 54Taking some other accounts payable pointers 55Inventory Accounting 56Dealing with obsolete inventory 56Disposing of obsolete inventory 57Dealing with inventory shrinkage 58Accounting for Fixed Assets 60Purchasing a fixed asset 60Dealing with depreciation 60Disposing of a fixed asset 61Recognizing Liabilities 63Borrowing money 64Making a loan payment 64Accruing liabilities 65Closing Out Revenue and Expense Accounts 68The traditional close 68The QuickBooks close 70One More Thing 71Book 2: Getting Ready To Use QuickBooks 73Chapter 1: Setting Up QuickBooks 75Planning Your New QuickBooks System 75What accounting does 75What accounting systems do 76What QuickBooks does 76And now for the bad news 77Installing QuickBooks 78Dealing with the Presetup Jitters 79Preparing for setup 79Seeing what happens during setup 80Running the QuickBooks Setup Wizard 81Getting the big welcome 81Supplying company information 82Customizing QuickBooks 83Setting your start date 84Reviewing the suggested chart of accounts 86Adding your information to the company file 87Identifying the Starting Trial Balance 89A simple example to start 89A real-life example to finish 91Chapter 2: Loading the Master File Lists 93Setting Up the Chart of Accounts List 94Setting Up the Item List 98Working with the Price Level List 99Using Sales Tax Codes 99Setting Up a Payroll Item List 100Setting Up Classes 101Setting Up a Customer List 103Setting Up the Vendor List 107Setting Up a Fixed Assets List 110Setting Up a Price Level List 112Setting Up a Billing Rate Level List 112Setting Up Your Employees 113Setting Up an Other Names List 113Setting Up the Profile Lists 113Chapter 3: Fine-Tuning QuickBooks 115Accessing the Preferences Settings 116Setting the Accounting Preferences 117Using account numbers 118Setting general accounting options 119Setting the Bills Preferences 121Setting the Calendar Preferences 121Setting the Checking Preferences 121Changing the Desktop View 123Setting Finance Charge Calculation Rules 125Setting General Preferences 126Controlling Integrated Applications 128Controlling Inventory 129Controlling How Jobs and Estimates Work 130Dealing with Multiple Currencies 131Starting Integrated Payment Processing 132Controlling How Payroll Works 132Telling QuickBooks How Reminders Should Work 134Specifying Reports & Graphs Preferences 135Setting Sales & Customers Preferences 138Specifying How Sales Are Taxed 140Setting the Search Preferences 141Setting the Send Forms Preferences 141Fine-Tuning the Service Connection 142Controlling Spell Checking 143Controlling How 1099 Tax Reporting Works 144Setting Time & Expenses Preferences 145Book 3: Bookkeeping Chores 147Chapter 1: Invoicing Customers 149Choosing an Invoice Form 149Customizing an Invoice Form 150Choosing a template to customize 150Reviewing the Additional Customization options 150Moving on to Basic Customization 155Working with the Layout Designer tool 157Working with the web-based Forms Customization tool 160Invoicing a Customer 160Billing for Time 166Using a weekly time sheet 166Timing single activities 167Including billable time on an invoice 168Printing Invoices 170Emailing Invoices 171Recording Sales Receipts 172Recording Credit Memos 174Receiving Customer Payments 176Assessing Finance Charges 179Setting up finance-charge rules 179Calculating finance charges 180Using Odds and Ends on the Customers Menu 181Chapter 2: Paying Vendors 183Creating a Purchase Order 183Creating a real purchase order 184Using some purchase order tips and tricks 187Recording the Receipt of Items 187Simultaneously Recording the Receipt and the Bill 191Entering a Bill 192If you haven't previously recorded an item receipt 192If you have previously recorded an item receipt 194Paying Bills 196Reviewing the Other Vendor Menu Commands 199Vendor Center 199Sales Tax menu commands 200Inventory Activities menu commands 201Print/E-file 1099s 201Item List 202Chapter 3: Tracking Inventory and Items 203Looking at Your Item List 204Using the Item Code column 204Using the Item List window 205Using inventory reports 206Adding Items to the Item List 206Adding an item: Basic steps 207Adding a service item 208Adding an inventory part 209Adding a noninventory part 211Adding an other-charge item 212Adding a subtotal item 213Adding a group item 214Adding a discount item 215Adding a payment item 216Adding a sales tax item 217Setting up a sales tax group 217Adding custom fields to items 218Editing Items 220Adjusting physical counts and inventory values 220Adjusting prices and price levels 223Using the Change Item Prices command 223Using price levels 224Enabling advanced pricing 226Managing Inventory in a Manufacturing Firm 227Handling manufactured inventory the simple way 227Performing inventory accounting in QuickBooks 228Managing multiple inventory locations 231Chapter 4: Managing Cash and Bank Accounts 233Writing Checks 234Recording and printing a check 234Customizing the check form 239Making Bank Deposits 241Transferring Money between Bank Accounts 244Working with the Register 245Recording register transactions 246Using Register window commands and buttons 249Using Edit Menu Commands 252Reconciling the Bank Account 256Reviewing the Other Banking Commands 260Order Checks & Envelopes command 260Enter Credit Card Charges command 260Bank Feeds command 261Loan Manager command 262Other Names list 262Chapter 5: Paying Employees 263Setting Up Basic Payroll 264Signing up for a payroll service 265Setting up employees 265Setting up year-to-date amounts 269Checking your payroll setup data 270Scheduling Payroll Runs 270Paying Employees 270Editing and Voiding Paychecks 272Paying Payroll Liabilities 273Book 4: Accounting Chores 275Chapter 1: For Accountants Only 277Working with QuickBooks Journal Entries 277Recording a journal entry 278Reversing a journal entry 279Editing journal entries 280Updating Company Information 280Working with Memorized Transactions 280Reviewing the Accountant & Taxes Reports 281Creating an Accountant's Copy of the QuickBooks Data File 283Using an accountant's copy 288Reusing an accountant's copy 288Exporting client changes 288Importing accountant's changes 289Canceling accountant's changes 290Troubleshooting accountant's copy transfers 291Using the Client Data Review Commands 291Chapter 2: Preparing Financial Statements and Reports 293Some Wise Words Up Front 293Producing a Report 294Working with the Report Window 295Working with Report window buttons 295Using the Report window boxes 302Modifying a Report 304Using the Display tab 304Using the Filters tab 306Using the Header/Footer tab 308Formatting fonts and numbers 309Processing Multiple Reports 311A Few Words about Document Retention 312Chapter 3: Preparing a Budget 315Reviewing Common Budgeting Tactics 315Top-line budgeting 316Zero-based budgeting 316Benchmarking 317Putting it all together 318Taking a Practical Approach to Budgeting 319Using the Set Up Budgets Window 319Creating a new budget 319Working with an existing budget 321Managing with a Budget 323Some Wrap-Up Comments on Budgeting 325Chapter 4: Using Activity-Based Costing 327Reviewing Traditional Overhead Allocation 328Understanding How ABC Works 330The ABC product-line income statement 330ABC in a small firm 334Implementing a Simple ABC System 335Seeing How QuickBooks Supports ABC 337Turning On Class Tracking 337Using Classes for ABC 338Setting up your classes 338Classifying revenue amounts 339Classifying expense amounts 339After-the-fact classifications 341Producing ABC reports 342Chapter 5: Setting Up Project and Job Costing Systems 343Setting Up a QuickBooks Job 343Tracking Job or Project Costs 346Job Cost Reporting 350Using Job Estimates 350Progress Billing 352Book 5: Financial Management 355Chapter 1: Ratio Analysis 357Some Caveats about Ratio Analysis 358Liquidity Ratios 359Current ratio 359Acid-test ratio 360Leverage Ratios 361Debt ratio 361Debt equity ratio 362Times interest earned ratio 363Fixed-charges coverage ratio 364Activity Ratios 365Inventory turnover ratio 366Days of inventory ratio 367Average collection period ratio 367Fixed-asset turnover ratio 368Total-assets turnover ratio 369Profitability Ratios 369Gross margin percentage 370Operating income/sales 370Profit margin percentage 371Return on assets 371Return on equity 372Chapter 2: Economic Value Added Analysis 375Introducing the Logic of EVA 375Seeing EVA in Action 376An example of EVA 378Another example of EVA 378Reviewing Some Important Points about EVA 379Using EVA When Your Business Has Debt 381The first example of the modified EVA formula 381Another EVA with debt example 383Presenting Two Final Pointers 385And Now, a Word to My Critics 386Chapter 3: Capital Budgeting in a Nutshell 389Introducing the Theory of Capital Budgeting 389The big thing is the return 390One little thing is maturity 390Another little thing is risk 391The bottom line 391Calculating the Rate of Return on Capital 392Calculating the investment amount 393Estimating the net cash flows 393Calculating the return 397Measuring Liquidity 402Thinking about Risk 402What Does All of This Have to Do with QuickBooks? 404Book 6: Business Plans 405Chapter 1: Profit-Volume-Cost Analysis 407Seeing How Profit-Volume-Cost Analysis Works 408Calculating Break-Even Points 410Using Real QuickBooks Data for Profit-Volume-Cost Analysis 412Sales revenue 412Gross margin percentage 412Fixed costs 414Recognizing the Downside of the Profit-Volume-Cost Model 414Using the Profit-Volume-Cost Analysis Workbook 416Collecting your inputs 416Understanding the Break-Even Analysis Forecast 419Understanding the Profit-Volume Forecast 421Looking at the profit-volume-cost charts 422Chapter 2: Creating a Business Plan Forecast 427Reviewing Financial Statements and Ratios 428Using the Business Plan Workbook 429Understanding the Workbook Calculations 436Forecasting inputs 437Balance Sheet 437Common Size Balance Sheet 445Income Statement 446Common Size Income Statement 450Cash Flow Statement 451Financial Ratios Table 457Customizing the Starter Workbook 463Changing the number of periods 463Performing ratio analysis on existing financial statements 463Calculating taxes for a current net loss before taxes 464Combining this workbook with other workbooks 464Chapter 3: Writing a Business Plan 465What the Term "Business Plan" Means 465A Few Words about Strategic Plans 466Cost strategies 466Differentiated products and services strategies 467Focus strategies 467Look, Ma: No Strategy 468Two comments about tactics 469Six final strategy pointers 469A White-Paper Business Plan 470A New-Venture Plan 473Is the new venture's product or service feasible? 473Does the market want the product or service? 474Can the product or service be profitably sold? 475Is the return on the venture adequate for prospective investors? 475Can existing management run the business? 476Some final thoughts 477Book 7: Care and Maintenance 479Chapter 1: Administering QuickBooks 481Keeping Your Data Confidential 481Using Windows security 482Using QuickBooks security 482Using QuickBooks in a Multiuser Environment 483Setting up additional QuickBooks users 484Changing user rights in Enterprise Solutions 490Changing user rights in QuickBooks Pro and Premier 491Using Audit Trails 493Enabling Simultaneous Multiuser Access 494Maintaining Good Accounting Controls 495Chapter 2: Protecting Your Data 499Backing Up the QuickBooks Data File 499Backing-up basics 500What about online backup? 503Some backup tactics 504Restoring a QuickBooks Data File 505Condensing the QuickBooks Company Files 509Cleanup basics 510Some cleanup and archiving strategies 515Chapter 3: Troubleshooting 517Using the QuickBooks Help File and This Book 517Browsing Intuit's Product-Support Website 519Checking Another Vendor's Product-Support Website 521Tapping into Intuit's Online and Expert Communities 521When All Else Fails 522Book 8: Appendixes 523Appendix A: A Crash Course in Excel 525Starting Excel 525Stopping Excel 526Explaining Excel's Workbooks 526Putting Text, Numbers, and Formulas in Cells 527Writing Formulas 528Scrolling through Big Workbooks 529Copying and Cutting Cell Contents 530Copying cell contents 530Moving cell contents 531Moving and copying formulas 531Formatting Cell Contents 532Recognizing That Functions Are Simply Formulas 534Saving and Opening Workbooks 537Saving a workbook 537Opening a workbook 538Printing Excel Workbooks 539One Other Thing to Know 540Appendix B: Government Web Resources for Businesses 541Bureau of Economic Analysis 541Finding information at the BEA website 542Downloading a BEA publication 542Uncompressing a BEA publication 543Using a BEA publication 544Bureau of Labor Statistics 544Finding information at the BLS website 545Using BLS information 545Census Bureau 548Finding information at the Census Bureau website 549Using the Census Bureau's publications 550Using the Census Bureau search engine 550Using the Census Bureau Subjects index 551Securities and Exchange Commission 551Finding information through EDGAR 552Searching the EDGAR database 552Federal Reserve 553Finding information at the Federal Reserve website 554Using the Federal Reserve website's information 555Government Publishing Office 555Information available at the GPO website 556Searching the GPO database 556Internal Revenue Service 557Appendix C: Glossary of Accounting and Financial Terms 559Index 589
Introduction 1About This Book 1Foolish Assumptions 2Icons Used in This Book 3Beyond the Book 4Where to Go from Here 4Book 1: An Accounting Primer 7Chapter 1: Principles of Accounting 9The Purpose of Accounting 10The big picture 10Managers, investors, and entrepreneurs 10External creditors 11Government agencies 11Business form generation 12Reviewing the Common Financial Statements 12The income statement 13Balance sheet 16Statement of cash flows 19Other accounting statements 22Putting it all together 23The Philosophy of Accounting 25Revenue principle 25Expense principle 26Matching principle 26Cost principle 26Objectivity principle 27Continuity assumption 27Unit-of-measure assumption 27Separate-entity assumption 28A Few Words about Tax Accounting 28Chapter 2: Double-Entry Bookkeeping 29The Fiddle-Faddle Method of Accounting 30How Double-Entry Bookkeeping Works 33The accounting model 33Talking mechanics 35Almost a Real-Life Example 38Recording rent expense 39Recording wages expense 39Recording supplies expense 40Recording sales revenue 40Recording cost of goods sold 41Recording the payoff of accounts payable 41Recording the payoff of a loan 42Calculating account balance 42Using T-account analysis results 44A Few Words about How QuickBooks Works 46Chapter 3: Special Accounting Problems 49Working with Accounts Receivable 50Recording a sale 50Recording a payment 50Estimating bad-debt expense 51Removing uncollectible accounts receivable 52Recording Accounts Payable Transactions 53Recording a bill 54Paying a bill 54Taking some other accounts payable pointers 55Inventory Accounting 56Dealing with obsolete inventory 56Disposing of obsolete inventory 57Dealing with inventory shrinkage 58Accounting for Fixed Assets 60Purchasing a fixed asset 60Dealing with depreciation 60Disposing of a fixed asset 61Recognizing Liabilities 63Borrowing money 64Making a loan payment 64Accruing liabilities 65Closing Out Revenue and Expense Accounts 68The traditional close 68The QuickBooks close 70One More Thing 71Book 2: Getting Ready To Use QuickBooks 73Chapter 1: Setting Up QuickBooks 75Planning Your New QuickBooks System 75What accounting does 75What accounting systems do 76What QuickBooks does 76And now for the bad news 77Installing QuickBooks 78Dealing with the Presetup Jitters 79Preparing for setup 79Seeing what happens during setup 80Running the QuickBooks Setup Wizard 81Getting the big welcome 81Supplying company information 82Customizing QuickBooks 83Setting your start date 84Reviewing the suggested chart of accounts 86Adding your information to the company file 87Identifying the Starting Trial Balance 89A simple example to start 89A real-life example to finish 91Chapter 2: Loading the Master File Lists 93Setting Up the Chart of Accounts List 94Setting Up the Item List 98Working with the Price Level List 99Using Sales Tax Codes 99Setting Up a Payroll Item List 100Setting Up Classes 101Setting Up a Customer List 103Setting Up the Vendor List 107Setting Up a Fixed Assets List 110Setting Up a Price Level List 112Setting Up a Billing Rate Level List 112Setting Up Your Employees 113Setting Up an Other Names List 113Setting Up the Profile Lists 113Chapter 3: Fine-Tuning QuickBooks 115Accessing the Preferences Settings 116Setting the Accounting Preferences 117Using account numbers 118Setting general accounting options 119Setting the Bills Preferences 121Setting the Calendar Preferences 121Setting the Checking Preferences 121Changing the Desktop View 123Setting Finance Charge Calculation Rules 125Setting General Preferences 126Controlling Integrated Applications 128Controlling Inventory 129Controlling How Jobs and Estimates Work 130Dealing with Multiple Currencies 131Starting Integrated Payment Processing 132Controlling How Payroll Works 132Telling QuickBooks How Reminders Should Work 134Specifying Reports & Graphs Preferences 135Setting Sales & Customers Preferences 138Specifying How Sales Are Taxed 140Setting the Search Preferences 141Setting the Send Forms Preferences 141Fine-Tuning the Service Connection 142Controlling Spell Checking 143Controlling How 1099 Tax Reporting Works 144Setting Time & Expenses Preferences 145Book 3: Bookkeeping Chores 147Chapter 1: Invoicing Customers 149Choosing an Invoice Form 149Customizing an Invoice Form 150Choosing a template to customize 150Reviewing the Additional Customization options 150Moving on to Basic Customization 155Working with the Layout Designer tool 157Working with the web-based Forms Customization tool 160Invoicing a Customer 160Billing for Time 166Using a weekly time sheet 166Timing single activities 167Including billable time on an invoice 168Printing Invoices 170Emailing Invoices 171Recording Sales Receipts 172Recording Credit Memos 174Receiving Customer Payments 176Assessing Finance Charges 179Setting up finance-charge rules 179Calculating finance charges 180Using Odds and Ends on the Customers Menu 181Chapter 2: Paying Vendors 183Creating a Purchase Order 183Creating a real purchase order 184Using some purchase order tips and tricks 187Recording the Receipt of Items 187Simultaneously Recording the Receipt and the Bill 191Entering a Bill 192If you haven't previously recorded an item receipt 192If you have previously recorded an item receipt 194Paying Bills 196Reviewing the Other Vendor Menu Commands 199Vendor Center 199Sales Tax menu commands 200Inventory Activities menu commands 201Print/E-file 1099s 201Item List 202Chapter 3: Tracking Inventory and Items 203Looking at Your Item List 204Using the Item Code column 204Using the Item List window 205Using inventory reports 206Adding Items to the Item List 206Adding an item: Basic steps 207Adding a service item 208Adding an inventory part 209Adding a noninventory part 211Adding an other-charge item 212Adding a subtotal item 213Adding a group item 214Adding a discount item 215Adding a payment item 216Adding a sales tax item 217Setting up a sales tax group 217Adding custom fields to items 218Editing Items 220Adjusting physical counts and inventory values 220Adjusting prices and price levels 223Using the Change Item Prices command 223Using price levels 224Enabling advanced pricing 226Managing Inventory in a Manufacturing Firm 227Handling manufactured inventory the simple way 227Performing inventory accounting in QuickBooks 228Managing multiple inventory locations 231Chapter 4: Managing Cash and Bank Accounts 233Writing Checks 234Recording and printing a check 234Customizing the check form 239Making Bank Deposits 241Transferring Money between Bank Accounts 244Working with the Register 245Recording register transactions 246Using Register window commands and buttons 249Using Edit Menu Commands 252Reconciling the Bank Account 256Reviewing the Other Banking Commands 260Order Checks & Envelopes command 260Enter Credit Card Charges command 260Bank Feeds command 261Loan Manager command 262Other Names list 262Chapter 5: Paying Employees 263Setting Up Basic Payroll 264Signing up for a payroll service 265Setting up employees 265Setting up year-to-date amounts 269Checking your payroll setup data 270Scheduling Payroll Runs 270Paying Employees 270Editing and Voiding Paychecks 272Paying Payroll Liabilities 273Book 4: Accounting Chores 275Chapter 1: For Accountants Only 277Working with QuickBooks Journal Entries 277Recording a journal entry 278Reversing a journal entry 279Editing journal entries 280Updating Company Information 280Working with Memorized Transactions 280Reviewing the Accountant & Taxes Reports 281Creating an Accountant's Copy of the QuickBooks Data File 283Using an accountant's copy 288Reusing an accountant's copy 288Exporting client changes 288Importing accountant's changes 289Canceling accountant's changes 290Troubleshooting accountant's copy transfers 291Using the Client Data Review Commands 291Chapter 2: Preparing Financial Statements and Reports 293Some Wise Words Up Front 293Producing a Report 294Working with the Report Window 295Working with Report window buttons 295Using the Report window boxes 302Modifying a Report 304Using the Display tab 304Using the Filters tab 306Using the Header/Footer tab 308Formatting fonts and numbers 309Processing Multiple Reports 311A Few Words about Document Retention 312Chapter 3: Preparing a Budget 315Reviewing Common Budgeting Tactics 315Top-line budgeting 316Zero-based budgeting 316Benchmarking 317Putting it all together 318Taking a Practical Approach to Budgeting 319Using the Set Up Budgets Window 319Creating a new budget 319Working with an existing budget 321Managing with a Budget 323Some Wrap-Up Comments on Budgeting 325Chapter 4: Using Activity-Based Costing 327Reviewing Traditional Overhead Allocation 328Understanding How ABC Works 330The ABC product-line income statement 330ABC in a small firm 334Implementing a Simple ABC System 335Seeing How QuickBooks Supports ABC 337Turning On Class Tracking 337Using Classes for ABC 338Setting up your classes 338Classifying revenue amounts 339Classifying expense amounts 339After-the-fact classifications 341Producing ABC reports 342Chapter 5: Setting Up Project and Job Costing Systems 343Setting Up a QuickBooks Job 343Tracking Job or Project Costs 346Job Cost Reporting 350Using Job Estimates 350Progress Billing 352Book 5: Financial Management 355Chapter 1: Ratio Analysis 357Some Caveats about Ratio Analysis 358Liquidity Ratios 359Current ratio 359Acid-test ratio 360Leverage Ratios 361Debt ratio 361Debt equity ratio 362Times interest earned ratio 363Fixed-charges coverage ratio 364Activity Ratios 365Inventory turnover ratio 366Days of inventory ratio 367Average collection period ratio 367Fixed-asset turnover ratio 368Total-assets turnover ratio 369Profitability Ratios 369Gross margin percentage 370Operating income/sales 370Profit margin percentage 371Return on assets 371Return on equity 372Chapter 2: Economic Value Added Analysis 375Introducing the Logic of EVA 375Seeing EVA in Action 376An example of EVA 378Another example of EVA 378Reviewing Some Important Points about EVA 379Using EVA When Your Business Has Debt 381The first example of the modified EVA formula 381Another EVA with debt example 383Presenting Two Final Pointers 385And Now, a Word to My Critics 386Chapter 3: Capital Budgeting in a Nutshell 389Introducing the Theory of Capital Budgeting 389The big thing is the return 390One little thing is maturity 390Another little thing is risk 391The bottom line 391Calculating the Rate of Return on Capital 392Calculating the investment amount 393Estimating the net cash flows 393Calculating the return 397Measuring Liquidity 402Thinking about Risk 402What Does All of This Have to Do with QuickBooks? 404Book 6: Business Plans 405Chapter 1: Profit-Volume-Cost Analysis 407Seeing How Profit-Volume-Cost Analysis Works 408Calculating Break-Even Points 410Using Real QuickBooks Data for Profit-Volume-Cost Analysis 412Sales revenue 412Gross margin percentage 412Fixed costs 414Recognizing the Downside of the Profit-Volume-Cost Model 414Using the Profit-Volume-Cost Analysis Workbook 416Collecting your inputs 416Understanding the Break-Even Analysis Forecast 419Understanding the Profit-Volume Forecast 421Looking at the profit-volume-cost charts 422Chapter 2: Creating a Business Plan Forecast 427Reviewing Financial Statements and Ratios 428Using the Business Plan Workbook 429Understanding the Workbook Calculations 436Forecasting inputs 437Balance Sheet 437Common Size Balance Sheet 445Income Statement 446Common Size Income Statement 450Cash Flow Statement 451Financial Ratios Table 457Customizing the Starter Workbook 463Changing the number of periods 463Performing ratio analysis on existing financial statements 463Calculating taxes for a current net loss before taxes 464Combining this workbook with other workbooks 464Chapter 3: Writing a Business Plan 465What the Term "Business Plan" Means 465A Few Words about Strategic Plans 466Cost strategies 466Differentiated products and services strategies 467Focus strategies 467Look, Ma: No Strategy 468Two comments about tactics 469Six final strategy pointers 469A White-Paper Business Plan 470A New-Venture Plan 473Is the new venture's product or service feasible? 473Does the market want the product or service? 474Can the product or service be profitably sold? 475Is the return on the venture adequate for prospective investors? 475Can existing management run the business? 476Some final thoughts 477Book 7: Care and Maintenance 479Chapter 1: Administering QuickBooks 481Keeping Your Data Confidential 481Using Windows security 482Using QuickBooks security 482Using QuickBooks in a Multiuser Environment 483Setting up additional QuickBooks users 484Changing user rights in Enterprise Solutions 490Changing user rights in QuickBooks Pro and Premier 491Using Audit Trails 493Enabling Simultaneous Multiuser Access 494Maintaining Good Accounting Controls 495Chapter 2: Protecting Your Data 499Backing Up the QuickBooks Data File 499Backing-up basics 500What about online backup? 503Some backup tactics 504Restoring a QuickBooks Data File 505Condensing the QuickBooks Company Files 509Cleanup basics 510Some cleanup and archiving strategies 515Chapter 3: Troubleshooting 517Using the QuickBooks Help File and This Book 517Browsing Intuit's Product-Support Website 519Checking Another Vendor's Product-Support Website 521Tapping into Intuit's Online and Expert Communities 521When All Else Fails 522Book 8: Appendixes 523Appendix A: A Crash Course in Excel 525Starting Excel 525Stopping Excel 526Explaining Excel's Workbooks 526Putting Text, Numbers, and Formulas in Cells 527Writing Formulas 528Scrolling through Big Workbooks 529Copying and Cutting Cell Contents 530Copying cell contents 530Moving cell contents 531Moving and copying formulas 531Formatting Cell Contents 532Recognizing That Functions Are Simply Formulas 534Saving and Opening Workbooks 537Saving a workbook 537Opening a workbook 538Printing Excel Workbooks 539One Other Thing to Know 540Appendix B: Government Web Resources for Businesses 541Bureau of Economic Analysis 541Finding information at the BEA website 542Downloading a BEA publication 542Uncompressing a BEA publication 543Using a BEA publication 544Bureau of Labor Statistics 544Finding information at the BLS website 545Using BLS information 545Census Bureau 548Finding information at the Census Bureau website 549Using the Census Bureau's publications 550Using the Census Bureau search engine 550Using the Census Bureau Subjects index 551Securities and Exchange Commission 551Finding information through EDGAR 552Searching the EDGAR database 552Federal Reserve 553Finding information at the Federal Reserve website 554Using the Federal Reserve website's information 555Government Publishing Office 555Information available at the GPO website 556Searching the GPO database 556Internal Revenue Service 557Appendix C: Glossary of Accounting and Financial Terms 559Index 589