SOLUTION MANUAL FOR COMPUTER
ACCOUNTING WITH QUICKBOOKS ONLINE A
CLOUD BASED APPROACH, 2024 RELEASE BY
CAROL YACHT AND MATTHEW LOWENKRON
CHAPTER 1-12 LATEST UPDATE 2025 A+
Want to earn $1.236
extra per year?
, stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
TABLE OF CONTENTS
course information .................................................................................................... 3
1. implementing quickbooks ......................................................................................... 5
2. editions of quickbooks ............................................................................................ 19
3. quickbooks cpa essentials – what cpas should know .............................................. 20
a. quickbooks history ........................................................................................ 28
b. importing credit card transactions................................................................... 28
c. memorized transactions ................................................................................. 30
d. running an efficient accounting system............................................................ 32
e. reminders ..................................................................................................... 33
f. loan manager................................................................................................ 35
g. voiding checks.............................................................................................. 36
h. prevent prior period changes .......................................................................... 40
i. default date settings ...................................................................................... 40
j. crtl+1 – product info...................................................................................... 41
k. editing quickbooks data in excel..................................................................... 42
l. importing transactions into quickbooks ........................................................... 42
m. how to record a customer deposit ................................................................... 43
n. custom data fields ......................................................................................... 44
o. calculator tape............................................................................................... 45
p. how to assess the skills of a potential quickbooks bookkeeper........................... 46
q. templates...................................................................................................... 47
r. financial reporting......................................................................................... 51
s. company snapshot......................................................................................... 59
t. department accounting................................................................................... 60
u. quickbooks online ......................................................................................... 64
v. fixed assets................................................................................................... 66
w. accountants copy........................................................................................... 66
x. remote access ............................................................................................... 78
y. monthly or quarterly procedures for cpas ........................................................ 70
z. keyboard shortcuts ........................................................................................ 74
aa. editing the icon bar........................................................................................ 77
bb. backup ......................................................................................................... 77
cc. common problems in quickbooks ................................................................... 78
dd. inventory items ............................................................................................. 78
ee. inventory pricing........................................................................................... 81
ff. networking limitations ................................................................................... 82
gg. system running slow...................................................................................... 82
hh. online banking .............................................................................................. 83
4. quickbooks – what’s new in 2010 thru 2005 .......................................................... 85
5. quickbooks tips & tricks ......................................................................................... 91
6. quickbooks advisor program ................................................................................... 97
7. quickbooks facts...................................................................................................... 99
instructor’s biography................................................................................................. 102
, stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
QUICKBOOKS 2010FOR CPAS
COURSE INF ORM AT IO N
learning objectives to increase the productivity of accountants using quickbooks.
course level intermediate material & advanced material
pre‐requisites basic familiarity with quickbooks
advanced preparation none
presentation method lecture with follow up materials
recommended cpe credit 8 hours
handouts checklists, manual
instructors j. carlton collins, cpa
advisorcpe is registered with the national association of state boards of accountancy
(nasba) as a sponsor of continuing professional education on the national registry of cpe
sponsors. state boards of accountancy have final authority on the acceptance of
individual courses for cpe credit. complaints regarding registered sponsors may
be addressed to the national registry of cpe sponsors, 150 fourth avenue, nashville, tn,
37219‐ 2417. telephone: 615‐880‐4200.
copyright notice
Copyrighted Material – May 2010 ‐ All rights reserved. No part of this publication may be reproduced or
transmitted in any form without the express written consent of AdvisorCPE, a subsidiary of ASA Research. Request
may be e‐mailed to or further information can be obtained by calling 770.734.0450 or by
accessing the AdvisorCPE home page at: http://www.advisorcpe.com/
All trade names and trademarks used in these materials are the property of their respective manufacturers and/or
owners. The use of trade names and trademarks used in these materials are not intended to convey endorsement
of any other affiliations with these materials. Any abbreviations used herein are solely for the reader’s
convenience and are not intended to compromise any trademarks.
Some of the features discussed within this manual apply only to certain versions of Excel, and from time to time,
Microsoft might remove some functionality. Microsoft Excel is known to contain numerous software bugs which
may prevent the successful use of some features in some cases. AdvisorCPE makes no representations or warranty
with respect to the contents of these materials and disclaims any implied warranties of merchantability of fitness
for any particular use. The contents of these materials are subject to change without notice.
, stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
participant notes
stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
i
implementing quickbooks2010
i realize that implementing quickbooks is a basic step and this is an intermediate to advanced course, but i have
found that starting out with a quick review of installing and setting up quickbooks helps many cpas feel
more comfortable with the remainder of the course. additionally, a few years ago, intuit streamlined the
setup procedures, reducing the number of setup screens from 130 to just 15 to 30 screens 1 . because many
participants today have not installed quickbooks in a while, it is worth a very quick review. here is what i would
like for you to know:
1. download ‐ you can nowdownload quickbooks and try it for 30 daysfree 2.
http://support.quickbooks.intuit.com/support/pages/knowledgebasearticle/1006369.
2. create new company ‐ once installed, select “file”; “new company” and following the wizard to
complete the installation.
3. company type ‐ don’t get stuck on the type of company question, your answer here only affects the wording
of the equity section of the balance sheet. i see some people hold off here waiting advice from their lawyer as
to what type of company they should establish. from a quickbooks setup point of view, this does not matter
because you can change the equity wording later.
4. starting date ‐ the most important question you will face is the beginning date to start entering data 3 .
a. don’t enter history 4 ‐ many cpas incorrectly choose to start at the beginning of the year so they have
all of their history. in my opinion, this is wrong thinking because you already have all of your
history. it may be contained in another accounting system, in excel, or in a paper based system,
but you have it already.
b. history not that important ‐ after 90 days, you will rarely refer to that history 5 + so who really
cares if it is contained in a different system?
c. start with an accurate tb ‐ the correct answer is to choose the most recent month end for which you
have an accurate trial balance 6. (for example, if it is september and the most recent accurate
trial balance you had was december for the previous year, then december of the previous year
should be your starting point). starting with trashy numbers accomplishes nothing.
d. exception ‐ you might make an exception and choose a date in which you conducted a physical
count to verify the inventory on hand. (for example, assume it is september and you have
an accurate august 30 trial balance but conducted a physical inventory on june 30. in this
case, starting as of july 1 might make the most sense if you have a lot of inventory.)
stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
ACCOUNTING WITH QUICKBOOKS ONLINE A
CLOUD BASED APPROACH, 2024 RELEASE BY
CAROL YACHT AND MATTHEW LOWENKRON
CHAPTER 1-12 LATEST UPDATE 2025 A+
Want to earn $1.236
extra per year?
, stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
TABLE OF CONTENTS
course information .................................................................................................... 3
1. implementing quickbooks ......................................................................................... 5
2. editions of quickbooks ............................................................................................ 19
3. quickbooks cpa essentials – what cpas should know .............................................. 20
a. quickbooks history ........................................................................................ 28
b. importing credit card transactions................................................................... 28
c. memorized transactions ................................................................................. 30
d. running an efficient accounting system............................................................ 32
e. reminders ..................................................................................................... 33
f. loan manager................................................................................................ 35
g. voiding checks.............................................................................................. 36
h. prevent prior period changes .......................................................................... 40
i. default date settings ...................................................................................... 40
j. crtl+1 – product info...................................................................................... 41
k. editing quickbooks data in excel..................................................................... 42
l. importing transactions into quickbooks ........................................................... 42
m. how to record a customer deposit ................................................................... 43
n. custom data fields ......................................................................................... 44
o. calculator tape............................................................................................... 45
p. how to assess the skills of a potential quickbooks bookkeeper........................... 46
q. templates...................................................................................................... 47
r. financial reporting......................................................................................... 51
s. company snapshot......................................................................................... 59
t. department accounting................................................................................... 60
u. quickbooks online ......................................................................................... 64
v. fixed assets................................................................................................... 66
w. accountants copy........................................................................................... 66
x. remote access ............................................................................................... 78
y. monthly or quarterly procedures for cpas ........................................................ 70
z. keyboard shortcuts ........................................................................................ 74
aa. editing the icon bar........................................................................................ 77
bb. backup ......................................................................................................... 77
cc. common problems in quickbooks ................................................................... 78
dd. inventory items ............................................................................................. 78
ee. inventory pricing........................................................................................... 81
ff. networking limitations ................................................................................... 82
gg. system running slow...................................................................................... 82
hh. online banking .............................................................................................. 83
4. quickbooks – what’s new in 2010 thru 2005 .......................................................... 85
5. quickbooks tips & tricks ......................................................................................... 91
6. quickbooks advisor program ................................................................................... 97
7. quickbooks facts...................................................................................................... 99
instructor’s biography................................................................................................. 102
, stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
QUICKBOOKS 2010FOR CPAS
COURSE INF ORM AT IO N
learning objectives to increase the productivity of accountants using quickbooks.
course level intermediate material & advanced material
pre‐requisites basic familiarity with quickbooks
advanced preparation none
presentation method lecture with follow up materials
recommended cpe credit 8 hours
handouts checklists, manual
instructors j. carlton collins, cpa
advisorcpe is registered with the national association of state boards of accountancy
(nasba) as a sponsor of continuing professional education on the national registry of cpe
sponsors. state boards of accountancy have final authority on the acceptance of
individual courses for cpe credit. complaints regarding registered sponsors may
be addressed to the national registry of cpe sponsors, 150 fourth avenue, nashville, tn,
37219‐ 2417. telephone: 615‐880‐4200.
copyright notice
Copyrighted Material – May 2010 ‐ All rights reserved. No part of this publication may be reproduced or
transmitted in any form without the express written consent of AdvisorCPE, a subsidiary of ASA Research. Request
may be e‐mailed to or further information can be obtained by calling 770.734.0450 or by
accessing the AdvisorCPE home page at: http://www.advisorcpe.com/
All trade names and trademarks used in these materials are the property of their respective manufacturers and/or
owners. The use of trade names and trademarks used in these materials are not intended to convey endorsement
of any other affiliations with these materials. Any abbreviations used herein are solely for the reader’s
convenience and are not intended to compromise any trademarks.
Some of the features discussed within this manual apply only to certain versions of Excel, and from time to time,
Microsoft might remove some functionality. Microsoft Excel is known to contain numerous software bugs which
may prevent the successful use of some features in some cases. AdvisorCPE makes no representations or warranty
with respect to the contents of these materials and disclaims any implied warranties of merchantability of fitness
for any particular use. The contents of these materials are subject to change without notice.
, stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
participant notes
stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
i
implementing quickbooks2010
i realize that implementing quickbooks is a basic step and this is an intermediate to advanced course, but i have
found that starting out with a quick review of installing and setting up quickbooks helps many cpas feel
more comfortable with the remainder of the course. additionally, a few years ago, intuit streamlined the
setup procedures, reducing the number of setup screens from 130 to just 15 to 30 screens 1 . because many
participants today have not installed quickbooks in a while, it is worth a very quick review. here is what i would
like for you to know:
1. download ‐ you can nowdownload quickbooks and try it for 30 daysfree 2.
http://support.quickbooks.intuit.com/support/pages/knowledgebasearticle/1006369.
2. create new company ‐ once installed, select “file”; “new company” and following the wizard to
complete the installation.
3. company type ‐ don’t get stuck on the type of company question, your answer here only affects the wording
of the equity section of the balance sheet. i see some people hold off here waiting advice from their lawyer as
to what type of company they should establish. from a quickbooks setup point of view, this does not matter
because you can change the equity wording later.
4. starting date ‐ the most important question you will face is the beginning date to start entering data 3 .
a. don’t enter history 4 ‐ many cpas incorrectly choose to start at the beginning of the year so they have
all of their history. in my opinion, this is wrong thinking because you already have all of your
history. it may be contained in another accounting system, in excel, or in a paper based system,
but you have it already.
b. history not that important ‐ after 90 days, you will rarely refer to that history 5 + so who really
cares if it is contained in a different system?
c. start with an accurate tb ‐ the correct answer is to choose the most recent month end for which you
have an accurate trial balance 6. (for example, if it is september and the most recent accurate
trial balance you had was december for the previous year, then december of the previous year
should be your starting point). starting with trashy numbers accomplishes nothing.
d. exception ‐ you might make an exception and choose a date in which you conducted a physical
count to verify the inventory on hand. (for example, assume it is september and you have
an accurate august 30 trial balance but conducted a physical inventory on june 30. in this
case, starting as of july 1 might make the most sense if you have a lot of inventory.)
stuvia.com -- The
Stuvia.com the marketplace
Marketplacetotobuy
Buyand
andsell
Sellyour
yourstudy
Studymaterial
Material
