Chapter 4: Computer Accounting with Quickbooks Online

Chapter 4: Computer Accounting with Quickbooks Online

1. Register checking

   • Bank Deposits (money into bank accounts).
   • Bank Transfers (money into and out of bank accounts).
   • Enter and pay Credit Card Charges (money out of bank accounts).
   • Bank Checks (money out of bank accounts.

2. Money In

   • 3. Bank Deposit.
   • 2. Customer Sales using Invoices > Receive Payments.
   • 1. Customer Sales using Sales Receipts.

3. Bank Deposits not Related to Customer Sales: Examples of money coming in that is not a customer sale includes:

   • Investments from company owners.
   • Cash received from loans.
   • Interest earned.
   • Other income such as rental income that is not primary business.

4. Money Out: Examples of money going out that should not be recorded using a Check or Expense form include:

   • Paychecks to employees for wages and salaries.
   • Payroll taxes and liabilities.
   • Sales taxes.
   • Bills already entered using the Bills onscreen form.