Viewers: in countries Watching now:
In QuickBooks Pro 2010 Essential Training, author Bonnie Biafore shows how to most efficiently use this popular business accounting software to manage business finances. The course covers core QuickBooks features that business owners need to know, from recording typical bookkeeping transactions like bills and invoices, to reconciling accounts and managing company files. Exercise files accompany the course.
Whether your customers pay at the time of purchase or send in a payment later, you have to record the deposit in QuickBooks and deposit the money in the bank. Initially, QuickBooks is set up to store payments you receive in a QuickBooks account called un-deposited funds, because that's what they are. Payments you haven't deposited yet. The final step in QuickBooks is making deposits. Although you might think that you want to deposit all your payments at the same time, you can choose which payments you want to deposit.
For example, you can deposit checks and cash in your checking account, while credit card payments get deposited to your merchant credit card account. On the homepage, click Record Deposits, which is in the Banking section. QuickBooks opens both the Make Deposits window and the Payments to Deposit window. Your first stop though is Payments to Deposit. If you stash all your money in your checking account, leave All type selected in the View payment method type box.
To filter the deposits by payment method, choose the type you want to deposit. To select all the payments, click Select All. You can turn payments on and off by clicking a payment's check mark cell. For example, if a customer send a check, but asked that you hold onto it for a couple of days, you can turn off the check mark cell. Another reason to choose Payments to Deposit is to match the way your bank shows the deposits you make. For example, if your bank shows each check you deposit separately, select one check at a time and save the deposit.
But if your bank totals all the checks in one deposit, select them all and then save the deposit. Click OK to move the selected payments over to the Make Deposits window. QuickBooks automatically fills in all the fields for the payments you selected to deposit. Who you received a payment from, the account, the amount, the check number and the payment method. In the Deposit To dropdown list, choose the account for the deposits.
In the Date box, choose the date for the deposit if it's different than the date that QuickBooks fills in. If you receive payments other than the ones from your customers, a refund check or claim payment from insurance policy, you can add them to the table. In a blank Received From cell, choose who sent you the payment. In the From Account, choose the account you want to use to track the money. If you got a refund check for office supplies, choose your office supplies expense account.
Fill in the payment method, check number if you have one, and the amount. Below the table is a Cash back goes to box. If you take some money out of the deposit, for example for petty cash, choose the account for that money. Fill in a memo and the amount. When you are done setting up the deposits, click Save & Close to save the deposit and close the dialog box.
When you make a deposit, QuickBooks moves the money from the undeposited funds account to your bank account. Now, all you have to do is deposit the money in your real-world bank account and you are done.
Find answers to the most frequently asked questions about QuickBooks Pro 2010 Essential Training .
Here are the FAQs that matched your search "" :
Sorry, there are no matches for your search "" —to search again, type in another word or phrase and click search.
Access exercise files from a button right under the course name.
Search within course videos and transcripts, and jump right to the results.
Remove icons showing you already watched videos if you want to start over.
Make the video wide, narrow, full-screen, or pop the player out of the page into its own window.
Click on text in the transcript to jump to that spot in the video. As the video plays, the relevant spot in the transcript will be highlighted.