Quickbooks

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QuickBooks
A software package used to record business and accounting activities
New Company Setup
The level of operation that creates a new company file.
Lists/ Centers
The level of operation that records background information.
Activities
The level of operation where most routine work is processed.
Reports
The level of operation where information can be displayed and printed.
Ellipsis
Follows a command on a menu and means additional information must be entered in a second window called a dialog box.
Company Name
The name that appears in the title bar of QuickBooks Pro. The source is the Company Information window.
Main Menu Bar
The part of the QuickBooks Pro window where the File, Edit, View, Lists, Company, Customers, Vendors, Employees, Banking, Reports, Online Services, Window, and Help menus are displayed.
File Name
The name indicated in the Backup and Restore windows.
Back Up Company
Command used to make a copy of the original company file
Vendor
Someone from whom the business buys goods or services.
Vendor Center
Contains a file for all vendors with whom the company does business
Unpaid Bills Report
A report that lists all unpaid vendor bills at a specific date.
Credit Memo
Processed through the Enter Bills window to reflect a reduction of the vendor's liability due to a credit for return or allowance
Enter Bills window
Activity window used to record vendor bills to be paid at a later date.
Journal Report
Activities displayed in general journal format for a specified period of time
Vendor Contact List Report
Report that lists all vendors from whom the company buys goods and services.
System Default Account
A pre-identified general ledger account that will increase or decrease automatically depending on the type of transaction entered.
Write Check Window
Activity window used to record cash purchase of goods or services from a vendor
Pay Bills Window
Activity window used to pay bills previously entered in the Enter Bills window
Customer Center
Contains a file for all customers with whom the company does business
Customer Balance Detail Report
A report that displays all transactions for a customer.
Deposit Funds window
Window used to deposit funds collected.
Customer
A person or business the company provides services for or sells a product to.
Receive Payment Window
Window used to record the payment of invoices.
Cash Sales
Sales where payment is received immediately.
Create Invoice Window
Window used to record sales on account.
Deposited Funds
Collections not yet deposited in the bank.
Open Invoice Report
A report that lists all unpaid invoices for each customer.
Enter Sales Receipts Window
Window used to record sales for cash.
Adjusting Journal entries
Recorded periodically so financial statements can be prepared according to accounting rules.
Balance Sheet Reports
The report that shows assets
Chart of Accounts
The list of accounts a company uses in business.
Filters
The tab in the Modify Report dialog box that is used to identify fields of information to be displayed in a report.
General Ledger Report
The report that lists the activity increases
Making General Journal Entries Window
Similar to a manual accounting system
Profit & Loss Report
The report that displays the revenue and expenses for a specified period of time.
Header/Footer
The tab in the Modify Report dialog box that is used to change the heading on a report.
Registers
The format is similar to that of a checkbook and can be used to view the activities for any balance sheet account.
Trail Balance Sheet
A report that displays all accounts and their debit of credit balance.
Inventory Valuation Detail Report
Report that displays all transactions affecting each inventory
Sales Discount
Reduction of invoice amount due when customer pays by a specific date.
Enter Bill Window- Item Tabs
Window used to record purchases and receipt of inventory items.
Adjust Quantity/ Value on Hand activity window
Window used to adjust quantity or value of inventory as a result of damage or loss.
Item List
Contains a file of all inventory items.
Pay Sales Tax Window
Window used to remit sales tax collected from customers to the appropriate state tax agency.
Purchases by Item Detail Report
Report that displays each purchase transaction for inventory items.
Inventory Stock Status by Item report
Report that displays the on-hand status of every inventory item.
Sales by Item Detail Report
Report from the Item List that show sales information for each inventory item.
Sales Tax
Tax collected by a retailer from a customer on sales of goods.
Dimmed Account type
The way QuickBooks Pro recognizes system default accounts.
Account numbers
A feature in a company file to identify accounts; must be activated in the Preferences window.
Lists- Customer & Vendor
Menu choice used to customize payment terms.
EasyStep Interview
Window where a new company file is created.
Uncatergorized expenses
Account created by QuickBooks as an offsetting amount for Accounts Receivable.
System Default accounts
Accounts created by QuickBooks to be used in the windows and journal entries.
Edit- Preferences
Menu choice used to make account numbers active.
Customizing the Chart of Accounts List
Adding and editing account numbers and names.
Uncatergorized expenses
Accounts created by QuickBooks as an offsetting amount of Accounts Payable.
Inventory Assest and Cost of Goods Sold
System default accounts QuickBooks Pro looks for when an inventory part item is set up.
Express Start
An alternative method of New Company Setup.
Inventory Assets and Cost of Goods Sold
Accounts automatically created by QuickBooks when you choose an inventory item part in the New Item window.
Inactive
An option you can choose so accounts not in use are not displayed in the reports.
Preferences- Accounting
Window used to activate accounts numbers.
System Default Accounts
Accounts automatically created by QuickBooks
Uncategorized Income
Account created by QuickBooks as an offsetting amount of Accounts Receivable.
Preference- Item & Inventory
Window used to activate the inventory feature.
Customer & Vendor Profile Lists
Submenu used to open the Terms List window.
Most Common Sales Tax
Field that must be completed to activate the sales tax feature.
Uncategorized Expense
Account created by QuickBooks as an offsetting amount of Accounts Payable.
Social Security Tax, Medicare tax, Futa, and SUI
Payroll taxes imposed on the employer
QuickBooks Payroll Services
A variety of services offered by QuickBooks Pro; includes automatic processing of payroll and requires a monthly service fee.
Payroll Liabilities and Payroll Expenses
Two default general ledger accounts created by QuickBooks when the payroll feature is activated.
Social Security Tax, Medicare tax, Federal Withholding, and sate withhholding
Payroll taxes imposed on the employee and collected by the employer
Payroll Item list
Contains a file for each type of payroll item that affects the payroll computation.
Government Agency
Listed on the Vendor Center and included in Payroll Item List; identifies where the employee's payroll withholdings should be sent.
Manyal payroll calculations
An option that must be activated in order to access the Payroll Item List when a company does not subscribe to QuickBooks Payroll Services.
Social Security and medicare
Payroll item that requires identifying two liabilities accounts and one expense account in the Payroll Item List.
Payroll Items
Compensation, payroll taxes, or payroll withholdings created by Quickbooks that you can customize or add to; each requires identifying related liability accounts, expenses accounts, and governments agency
Payroll
Involves computing each employee's gross earnings
Payroll Info Tab
Tab in the New Employee window where pay information is entered.
Form 941
Quarterly payroll report forwarded to the Internal Revenue Service.
Pay Employee Window
Series of three windows used to calculate gross pay, taxes, and net pay for employees
New Employee Button
Button in Employee Center used to access New Employee window.
Preview Paycheck window
Window used to enter pay and tax information in order to calculate net pay.
Payroll Liabilities Balances Report
Report that lists all payroll liabilities unpaid as of a specified date.
Employee Center
Contains a file with each employee's payroll background information.
Employee State taxes Detail report
Report that displays information concerning state taxes imposed on the employer and employee.
Pay Liabilities Window
Window used to pay payroll liabilities accumulated when pay is processed.
Payroll Summary reports
Report that displays the earnings
Banking Menu
Menu that contains the Write Checks, Reconcile, and Transfer Funds Choices
Bank reconciliation
The procedure to account for all differences between the company's cash account record and the bank statement.
QuickReport
Report from the Chart of Accounts List window that displays all activity within an account.
Reconcile windows
Activity windows used to reconcile a cash account.
Transfer Funds Between Accounts window
Activity window used to transfer funds among cash accounts.
Missing Checks Reports
Report that displays detailed information for each check written.
Enter Credit Card Charges Window
Activity window used to enter credit card charges.
Deposits Detail Report
Report from the Reports menu that displays details of each deposit for a specified period of time.
Reconciling Items
Items, such as deposits in transit, outstanding checks, bank charges, and interest income, that account for differences in cash between the company's books and the bank statements.
Cleared Checks
Checks written by the company that have cleared the bank.
time tab
Tab on the Choose Billable Time and Costs window that lists billable hours worked for a specific job.
Customer center
Center that contains a file for each customer job.
Profit & Loss by Job report
Report that displays the revenues, expenses, and net profit for each job for a specified period of time
Billable time
Time worked by company personnel that can be billed to customers
Time tracking
Process by which a company maintains records of time worked by employees for various customers or jobs.
Job Profit
Job revenue less job expenses.
Time by Job Summary report
Report that displays employee time spent on each job.
Job
Can be a project, assignment, or any identifiable segment of work for a customer
Weekly Timesheet Window
Window where time worked by company personnel is entered.
Job Revenue
Income earned for a particular job.
Additional Customization dialog box- Columns tab
Used to choose fields of information and order of appearance in the Create Invoices window and on a printed invoice.
Prepare Letters with Envelopes
Command choice to use pre-formatted business letters available in QuickBooks
Memorize button on the top of the report
Button used to save the changes made to the settings in a report.
Manage templates icon
Used to customize a pre-established invoice in QuickBooks
Collapse/ Expand button
Buttons used to list all numbers in a report in one clumn or to separate the subaccounts into the left column of a report.
Edit Menu- Memorize Check
Command used to save a routine transaction so you can recall it for later used.
Display Tab
Tab used to add or delete the fields of information displayed in each column in a report.
Accumulated Earnings
Account created and used by QuickBooks Pro at the start of the new fiscal year to automatically transfer the net income of the previous year into it.
Excel Button
Button used to export a report into a spreadsheet.
Header/ Footer Tab
Tab used to establish the headers and footers to be displayed in a report.