Quickbooks Common terms

Common QuickBooks® Items
QuickBooks® Tools:
Lists – QuickBooks® software uses lists to maintain company information, and to store repetitive information. The major benefit to storing information on a List is that the information has to be entered only once—even if you use it over and over again. QuickBooks® also uses the Lists to fill in blanks on the QuickBooks® forms.

Forms – Use QuickBooks® forms to record your business transactions quickly and easily.

Registers – Like the personal Check Register, QuickBooks® uses Registers to show all activity in one account. All Balance Sheet Accounts have Registers.

Common Accounting Terms:
Assets – Part of the Balance Sheet; what is owned by the company. Assets include cash, Accounts Receivable, Inventories, and Plant and Equipment. Assets are usually recorded at their acquisition price.

Balance Sheet – A financial report that shows the financial position of a company at a particular point in time in terms of Assets, Liabilities, and owner’s Equity. The Balance Sheet allows the business owner to view the firm’s total resources and determine how the Assets are being financed.
Assets = Liabilities + Owner’s Equity.

Cash Basis vs. Accrual Basis – Bookkeeping method used to determine how you report income and expenses. If you use Cash Basis accounting, you report incomes and expenses only when money is actually received or disbursed. With Accrual Basis accounting, you report income and expenses when they are incurred.

Chart of Accounts – A List of all the Account Titles (business resources) in a general ledger. Account Titles are grouped by Assets, Liabilities, Equity, Expenses, and Revenue.

COGS – Cost of Goods Sold - The cost of goods and materials held in inventory and then sold.

Equity – Part of the Balance Sheet; the difference between what you have (Assets) and what you owe (Liabilities).

Liabilities – Part of the Balance Sheet; what the company owes: present obligations resulting from past transactions that require the firm to pay money or provide services in the future. Liabilities represent creditors’ claims on the Assets of the business. Liabilities include Accounts Payable, loans, credit card balances, and unpaid sales and payroll taxes.

Profit and Loss Statement – Also called the Income Statement. The Profit and Loss Statement, which lists the revenues and expenses, shows the results of operations for a period of time, and the results are reflected in the owner’s equity on the balance sheet. When total revenues exceed total expenses, the result is net income.


Use the Following Items When Recording Sales:
Service – Services you charge for or service you purchase.

Inventory Part – Items you purchase, track as inventory, and then resell.

Non-inventory Part – Items you sell but do not purchase; Items you purchase but do not resell; Items you purchase and resell but do not track as inventory.

Other Charges – Other charges on a sale or purchase, such as freight or finance charges

Group – Fast entry of a group of individual Items already on the List


Use the Following Items to Calculate:
Subtotal – Calculating a subtotal before calculating a discount or charge that covers several items.

Discount – Calculating an amount to be subtracted from the total. (To discount several Items, use a Subtotal Item first.)

Payment – Payment received at the time of invoicing so that the amount owed on the Invoice is reduced.

Sales Tax – Calculating a single sales tax for a sale.

Sales Tax Group – Calculating two or more sales taxes grouped together and applied to the same sale.

April 2010 Quickbooks training schedule

Cosmic announces launch of March month 5 days Quickbooks training programme with certification assistance costing Rs.24900.00 (Inclusive of all taxes) starting from April 5th to 9th of April 2010.

Quick books training will be in Quick books 2010. We have upgraded our Manual to 2010 and Quick books 2010 has come up with lot more easy to access features... Don't Miss the opportunity.....

Topics covered:

Lesson 1: Getting Started -2010
Topic 1A: Starting Quick Books
Topic 1B: Identifying Components of the Quick Books Operating Environment
Topic 1C: Opening QuickBooks Centers
Topic 1D: Opening Other QuickBooks Windows
Topic 1E: Identifying Common Business Terms
Topic 1F: Setting Up QuickBooks in Multi-User Mode
Topic 1G: Exiting QuickBooks

Lesson 2: Setting Up a Company - 2010
Topic 2A: Creating a QuickBooks Company
Topic 2B: Using the Chart of Accounts
Topic 2C: Entering Account Opening Balances

Lesson 3: Working with Lists -2010
Topic 3A: Creating Company Lists
Topic 3B: Working with the Customers & Jobs List
Topic 3C: Working with the Employees List
Topic 3D: Working with the Vendors List
Topic 3E: Adding Customized Fields
Topic 3F: Managing Lists

Lesson 4: Invoicing for Services -2010
Topic 4A: Setting Up a Service Item
Topic 4B: Changing the Invoice Format
Topic 4C: Creating a Service Invoice
Topic 4D: Entering Statement Charges
Topic 4E: Creating Billing Statements

Lesson 5: Processing Payments -2010
Topic 5A: Receiving Payments for Invoices
Topic 5B: Making Deposits
Topic 5C: Printing Statements

Lesson 6: Working with Bank Accounts-2010
Topic 6A: Writing a Quick Books Check
Topic 6B: Using Bank Account Registers
Topic 6C: Entering a Handwritten Check
Topic 6D: Transferring Funds Between Accounts
Topic 6E: Reconciling Checking Accounts

Lesson 7: Entering and Paying Bills -2010
Topic 7A: Handling Expenses
Topic 7B: Using QuickBooks for Accounts Payable
Topic 7C: Entering Bills
Topic 7D: Paying Bills

Attend the Quick books pro -2010 training and get certified as Certified Quick books user from Intuit Academy.

Wish to know more check the a link

Contact Santhosh kumar. K
santhoshcom@cosmictechnologies.biz
9902977233 / 080-23190288

Training in Quickbooks in Bangalore

Cosmic announces launch of March month 5 days Quickbooks training programme with certification assistance costing Rs.24900.00 (Inclusive of all taxes) starting from March 22nd to 25of March 2010.

Quick books training will be in Quick books 2010. We have upgraded our Manual to 2010 and Quick books 2010 has come up with lot more easy to access features... Don't Miss the opportunity.....
Topics covered:

Lesson 1: Getting Started -2010
Topic 1A: Starting Quick Books
Topic 1B: Identifying Components of the Quick Books Operating Environment
Topic 1C: Opening QuickBooks Centers
Topic 1D: Opening Other QuickBooks Windows
Topic 1E: Identifying Common Business Terms
Topic 1F: Setting Up QuickBooks in Multi-User Mode
Topic 1G: Exiting QuickBooks

Lesson 2: Setting Up a Company - 2010
Topic 2A: Creating a QuickBooks Company
Topic 2B: Using the Chart of Accounts
Topic 2C: Entering Account Opening Balances

Lesson 3: Working with Lists -2010
Topic 3A: Creating Company Lists
Topic 3B: Working with the Customers & Jobs List
Topic 3C: Working with the Employees List
Topic 3D: Working with the Vendors List
Topic 3E: Adding Customized Fields
Topic 3F: Managing Lists

Lesson 4: Invoicing for Services -2010
Topic 4A: Setting Up a Service Item
Topic 4B: Changing the Invoice Format
Topic 4C: Creating a Service Invoice
Topic 4D: Entering Statement Charges
Topic 4E: Creating Billing Statements

Lesson 5: Processing Payments -2010
Topic 5A: Receiving Payments for Invoices
Topic 5B: Making Deposits
Topic 5C: Printing Statements

Lesson 6: Working with Bank Accounts-2010
Topic 6A: Writing a Quick Books Check
Topic 6B: Using Bank Account Registers
Topic 6C: Entering a Handwritten Check
Topic 6D: Transferring Funds Between Accounts
Topic 6E: Reconciling Checking Accounts

Lesson 7: Entering and Paying Bills -2010
Topic 7A: Handling Expenses
Topic 7B: Using QuickBooks for Accounts Payable
Topic 7C: Entering Bills
Topic 7D: Paying Bills

Attend the Quick books pro -2010 training and get certified as Certified Quick books user from Intuit Academy.

Wish to know more check the a link

Contact Santhosh kumar. K
santhoshcom@cosmictechnologies.biz
9902977233 / 080-23190288

Quickbooks training schedule of December 2009

Cosmic announces launch of September month 5 days Quickbooks training programme with certification assistance costing Rs.24900.00 (Inclusive of all taxes) starting from December 7th to 11th of December 2009.

Quick books training will be in Quick books 2010. We have upgraded our Manual to 2010 and Quick books 2010 has come up with lot more easy to access features... Don't Miss the opportunity.....
Topics covered:

Lesson 1: Getting Started -2010
Topic 1A: Starting Quick Books
Topic 1B: Identifying Components of the Quick Books Operating Environment
Topic 1C: Opening QuickBooks Centers
Topic 1D: Opening Other QuickBooks Windows
Topic 1E: Identifying Common Business Terms
Topic 1F: Setting Up QuickBooks in Multi-User Mode
Topic 1G: Exiting QuickBooks

Lesson 2: Setting Up a Company - 2010
Topic 2A: Creating a QuickBooks Company
Topic 2B: Using the Chart of Accounts
Topic 2C: Entering Account Opening Balances

Lesson 3: Working with Lists -2010
Topic 3A: Creating Company Lists
Topic 3B: Working with the Customers & Jobs List
Topic 3C: Working with the Employees List
Topic 3D: Working with the Vendors List
Topic 3E: Adding Customized Fields
Topic 3F: Managing Lists

Lesson 4: Invoicing for Services -2010
Topic 4A: Setting Up a Service Item
Topic 4B: Changing the Invoice Format
Topic 4C: Creating a Service Invoice
Topic 4D: Entering Statement Charges
Topic 4E: Creating Billing Statements

Lesson 5: Processing Payments -2010
Topic 5A: Receiving Payments for Invoices
Topic 5B: Making Deposits
Topic 5C: Printing Statements

Lesson 6: Working with Bank Accounts-2010
Topic 6A: Writing a Quick Books Check
Topic 6B: Using Bank Account Registers
Topic 6C: Entering a Handwritten Check
Topic 6D: Transferring Funds Between Accounts
Topic 6E: Reconciling Checking Accounts

Lesson 7: Entering and Paying Bills -2010
Topic 7A: Handling Expenses
Topic 7B: Using QuickBooks for Accounts Payable
Topic 7C: Entering Bills
Topic 7D: Paying Bills

Attend the Quick books pro -2010 training and get certified as Certified Quick books user from Intuit Academy.

Wish to know more check the a link

Contact Santhosh kumar. K
santhoshcom@cosmictechnologies.biz
9902977233 / 080-23190288

download quickbooks 2010 for free

One can download quickbooks premier 2010
DOWNLOAD

What's new in Quickbooks 2010?

• Electronically "paperclip" documents to QuickBooks transactions to stay organized and save time finding what you need.
• You can scan documents directly into QuickBooks, or attach electronic files already on your PC.
• Store receipts, statements and more online (in the Internet cloud) for easy sharing
  Easily attach documents to any customer, vendor, employee, account or transaction
  Scan dozens of documents at one time — simply insert blank pages in between and QuickBooks creates individual files7
  Keep important documents at your finger-tips and backed-up online
  Streamline collecting and matching documents from clients to specific transactions
• Copy and paste from Microsoft Excel directly into key QuickBooks Lists with Add/Edit Multiple List Entries. Or, use the new table format to enter new QuickBooks List data faster.
• Enter Items, Customers, or Vendors data using an improved table format Copy and paste lists from Microsoft Excel8 directly into QuickBooks lists Edit one list entry then easily copy the changes to many
• A wizard for creating financial statements and reference documents, Intuit Statement Writer 2010 is all new in Premier Accountant 2010.
• Create up to 16 statements in one workbook and batch print your statements and documents
• Build financial statements on a per-class or per-job basis, or as a combination of classes
  Access over 50 statement and document templates online
• Set ANY date range for statements, including 4-week months or 13-week quarters
• Send consolidated reports to clients in .pdf format10
• Create Microsoft Word-based letters, cover pages and documents in your report, and bring QuickBooks financial data into your documents
• Grow your practice, better serve your clients, and increase productivity by joining the ProAdvisor Progam.
• Grow profits and increase productivity with certification - the majority of Certified ProAdvisors feel empowered to charge on average $21 more per hour for their services after becoming certified.
• New for 2010! Learn faster and earn free CPE in our new simulation based certification process New for 2010! Easy to read and take on the go course materials with bigger font and printable content
• Grow your client base - Nearly 50% of Certified ProAdvisors have increased their number of clients annually since becoming certified.
• Get Listed on the ProAdvisor Referral Website - over 40,000 QuickBooks users visit each month
  Download trail version of Quickbooks 2010

Quickbooks training In October 2009

Cosmic announces launch of September month 5 days Quickbooks training programme with certification assistance costing Rs.24900.00 (Inclusive of all taxes) starting from October 12th to 16th of October 2009.
Topics covered:

Lesson 1: Getting Started
Topic 1A: Starting QuickBooks
Topic 1B: Identifying Components of the QuickBooks Operating Environment
Topic 1C: Opening QuickBooks Centers
Topic 1D: Opening Other QuickBooks Windows
Topic 1E: Identifying Common Business Terms
Topic 1F: Setting Up QuickBooks in Multi-User Mode
Topic 1G: Exiting QuickBooks

Lesson 2: Setting Up a Company
Topic 2A: Creating a QuickBooks Company
Topic 2B: Using the Chart of Accounts
Topic 2C: Entering Account Opening Balances

Lesson 3: Working with Lists
Topic 3A: Creating Company Lists
Topic 3B: Working with the Customers & Jobs List
Topic 3C: Working with the Employees List
Topic 3D: Working with the Vendors List
Topic 3E: Adding Customized Fields
Topic 3F: Managing Lists

Lesson 4: Invoicing for Services
Topic 4A: Setting Up a Service Item
Topic 4B: Changing the Invoice Format
Topic 4C: Creating a Service Invoice
Topic 4D: Entering Statement Charges
Topic 4E: Creating Billing Statements

Lesson 5: Processing Payments
Topic 5A: Receiving Payments for Invoices
Topic 5B: Making Deposits
Topic 5C: Printing Statements

Lesson 6: Working with Bank Accounts
Topic 6A: Writing a QuickBooks Check
Topic 6B: Using Bank Account Registers
Topic 6C: Entering a Handwritten Check
Topic 6D: Transferring Funds Between Accounts
Topic 6E: Reconciling Checking Accounts

Lesson 7: Entering and Paying Bills
Topic 7A: Handling Expenses
Topic 7B: Using QuickBooks for Accounts Payable
Topic 7C: Entering Bills
Topic 7D: Paying Bills

Attend the Quickbooks pro -2009 training and get certified as Certified Quickbooks user from Intuit Academy.

Wish to know more check the a link

Contact Santhosh kumar. K
santhoshcom@cosmictechnologies.biz
9902977233