Quickbooks Evaluation

2834 WordsAug 10, 201212 Pages
Annette Flanagan Week Three Course Project Evaluation of Quickbooks Section I Overview: I decided to evaluate Quickbooks Pro 2008 since I already have the program on my computer and the changes that have been made to the software since then are minimal. I have been using Quickbooks since 1994. It is a very good program for small business owners that are not familiar with the rules of accounting. To set up your business accounting records you just need to know the following information: company name, address, website, email, tax identification number, bank account numbers and balances in bank accounts. Quickbooks company set up runs through interview questions which allow you to select the options they feel best suit your needs or…show more content…
Now you are ready to start entering your data and you can personalize the forms for your business. Quickbooks gives you templates of forms for whether you are selling services or products. You have the ability to customize these forms with your company logo and the forms can be printed or you can email them directly to your vendors and customers. Section II Transactional Processing and Data Management: a. Revenue Cycle: One of the first things you should do after completing the company setup is to start entering your customer information. To accomplish this you click on customer center from the toolbar and then click on new. You fill in the data form with the customer’s name, billing and shipping addresses, email, phone numbers, contacts, if there is an existing balance and the date of the current balance, how the customer heard about you (which is great for tracking your advertising), payment terms, sales tax information, credit limits, and credit card information if they pay by credit card. You can set up different price levels for different customers which is beneficial if you have both wholesale and retail customers. If you have a customer that is no longer active you check the inactive box and they will not appear on any of your customer reports but their information is still saved in the system. After entering all of your existing customers I would then recommend setting up your inventory list. This option is found under Vendors-Inventory
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