QuickBooks 2014 All-in-One For Dummies by Stephen L. Nelson

By Stephen L. Nelson

Keep your finances on the right track and your small business booming with QuickBooks 2014 All-in-One For Dummies!

QuickBooks is your one-stop store for caring for all these monetary chores which are necessary to maintain your enterprise up and operating, and this all-in-one advisor makes dealing with your books more straightforward than ever. Written by means of CPA and depended on monetary writer Stephen L. Nelson, this renowned For Dummies bestseller has been up-to-date for the most recent model of QuickBooks and monetary practices. You'll locate 8 self-contained minibooks that begin with the fundamentals of bookkeeping and accounting and stroll you throughout growing company plans and benefiting from different company resources.

• is helping you already know accounting methods and ideas, organize QuickBooks in your enterprise wishes, and begin conversing the language of finance
• Explains tips on how to bill consumers, pay proprietors, video display stock, song debts, and machine worker wages and payroll deductions
• Covers very important accounting projects like getting ready monetary statements, submitting taxes, making plans the cheap, constructing a marketing strategy, forecasting, and assessing the future health of your business
• contains 8 minibooks: An Accounting Primer, on the brink of Use QuickBooks, Bookkeeping Chores, Accounting Chores, monetary administration, company Plans, Care & upkeep, and extra company Resources

Don't get rid of these pesky accounting initiatives from now on! QuickBooks 2014 All-in-One For Dummies makes dealing with what you are promoting funds a snap and offers you the boldness to take on the books like a professional.

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Extra resources for QuickBooks 2014 All-in-One For Dummies

Sample text

The accounting model and Pacioli’s assignment of debits and credits mean that any correctly recorded transaction balances. For a correctly recorded transaction, the transaction’s debits equal the transaction’s credits. Double-Entry Bookkeeping Roughly 500 years ago, an Italian monk named Pacioli devised a systematic approach to keeping track of the increases and decreases in account balances. He said that increases in asset and expense accounts should be called debits, whereas decreases in asset and expense accounts should be called credits.

Your liabilities will represent another firm’s assets. Therefore, whenever you hear some other business talking about crediting or debiting your account, what you do is exactly the opposite. If the business credits, you debit. If the business debits, you credit. By tallying the debits and credits to an account, you can calculate the account balance. Suppose that before Journal Entries 1, 2, and 3, the cash balance equals $2,000. Journal Entry 1 increases cash by $1,000 (this is the debit). Journal Entries 2 and 3 decrease cash by $1,000 each (these are the $2,000 credits).

These parentheses flag negative values more clearly than a simple minus sign could. Principles of Accounting Cash 18 Reviewing the Common Financial Statements The last three lines of the statement of cash flows are all easily understandable. The cash balance at the end of the period, $5,000, shows what cash the business holds at the end of the day. The cash balance at the start of the period, $1,000, shows the cash that the business holds at the beginning of the day. Both the cash balance at the start of the period and the cash balance at the end of the period tie to the cash balance values reported on the two balance sheets.

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