Whether or Not Accountants Should Use Quickbooks Chapter

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Accountant Desktop 2015

QuickBooks Accountant Desktop 2015 offers an exceptionable accounting tool for PC users. The application is clear, intuitive and simple, with easily accessible shortcuts that give visual flowcharts of every accounting need, from transactions related to vendors to customers, employees, and banking. This version also makes it easy to fix accounting errors and to reclassify transactions. This trial version is free for 160 days and works with Windows 7, Vista and XP. The software is available for purchase through Intuit for as much as $499 per year. However, other retailers offer the program for less if one is looking to shop around. POS-Deals.com, for example, is offering it at a $220 discount.

This software did include a tutorial, which consisted of video guides, offering a basic tour of the software. The video guide was helpful, but the application is already very user friendly so many of the processes are intuitive and not difficult to understand. The Home Page is set to a perfectly comprehensible flow chart, with icons and titles (such as Purchase Orders, Receive Inventory, Enter Bills, Pay Bills) that the user can click, which will bring up a new window into which the required information can easily be entered, as a template for that particular purpose is already prepared.

Section II: Transactional Processing

The Revenue Cycle is clearly illustrated in the Home Page flowchart. Starting at the beginning, the user can create and maintain customers by clicking on the Create Invoices icon, Sales Orders, Create Sales Receipts, or the Receive Payments icon. Each of these icons flows into the other and each allows one to "add new" customers to the database, so there is no confusion about what to do and one can start where one likes. Adding customers is simple: Each new window gives you the option of updating the database with a "new" customer and all you need to do is follow the prompts to input information. The new customer will be added and maintaining the customer within the database is no work at all because once the data is in, QuickBooks keeps it: maintaining it is as easy as updating the Sales or Payments sections, which are accessed by clicking the icon and following the prompts in the new window.

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The icon Create Invoices is what you would click on to create a customer invoice and all one needs to do is enter the relevant information into the template. The same goes for applying customer payments.

The reports that can be run to provide information regarding customers and their orders are located in the Reports tab to the left of the screen. The reports that can be generated are numerous and range from Customers & Receivables (what customers owe) to Sales, Jobs, Inventory, Retail, etc. For this section, we would click Sales and then "Run" and the Report would be generated in a new window. One has the option of a basic or a detailed report. In the Appendix, you will find a copy of the summary report for Sales to customer orders.

Reports regarding key revenue cycle information, such as sales, accounts receivable and cash can all be run by clicking on the Reports tab on the left side of the screen and choosing the appropriate report to run in the new window.

The Expenditure Cycle is just as simple to access. The Home Page flowchart shows Vendors at the top of the page. One can choose from several icons to begin -- Purchase Orders, Enter Bills, Receive Inventory, etc. You can easily create and maintain vendors the same way that you create and maintain customers, by clicking on any of the icons in the Vendors section that you would like to begin with and clicking "add new" in spot where you wish to select a vendor. The "New Vendor" window will open and allow you to enter in the Vendor's Name, opening balance, date of opening, address info, contact info, details, and more. This is the same method of entry as with the New Customer entry. To create and maintain an inventory, it is just as simple. The icons Receive Inventory and Enter Bills Against Inventory are front and center of the Vendors section. There is also an icon for Inventory Activities on the right side of the Home Page in the Company section, and inventory can also be managed from here.

Payments….....

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