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Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Chapter 18
Chapter 19
Chapter 20
Chapter 21
Chapter 22
Chapter 23
Chapter 24
Chapter 25
Chapter 26
Chapter 27
Chapter 28
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Chapter 27

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Accountants entries

General Journal entry will be the XE "accountants entries"  first window to appear.  Thats a good idea, because that is about all that can be done.  If work is not completed at one session, it can be resumed by clicking File|AccountantsReview| Continue UsingAccountantsCopy.

The general journal entry will be useful if you already have reports and know which entries should be made.  The illustration shows QuickBooks 5 with the icon bar option turned on.

The records can be reviewed.  Any necessary and permissible changes may be entered here. The review is replete with no-no messages.  If it is not legal, you get stopped.  For convenience in planning, the table below lists the dos and donts.

Topic

Permitted

Excluded

Reports

Generate reports

Memorizing reports

General ledger transactions

Enter new transactions

Reconcile new transactions

Edit or delete

All other transactions

View, report

Enter, edit, or delete

Chart of accounts

Add new accounts

Re-name accounts

Delete accounts

Change parent/sub-account status

Items (billing items in Item List)

Add new items

Change associated account (but dont; see text.)

Delete items

Change item names

Set items inactive or inactive

Payroll Items

Edit existing

 

Payroll setup

 

Enter employee YTD or setup transactions

Other entities in lists

Add any entities

Delete entities

Set entities inactive

Lists, all entities (accounts, items, names,  payroll items, etc.)

Add new 

Edit internally

Delete

Change names

Set active or inactive

Change order in any list

Change parent/sub-entity status

Reconciling

Reconcile new transactions.

 

Preferences

Temporary changes, for use in accountants copy  (See text)

Permanent changes in company file

Inventory

Adjust values of quantities

 

Forms 941, 940, W-3

Adjust numbers; print

Export changes

Form 1099-MISC

Print

 

Accounts in items lists can be changed, but this is often better done with written instructions.  If the account is changed by an update from the Accountants Review, this will only affect future uses of this item in the regular company file.  If the change is done at the client computer, the option is presented to make it retroactive in all past transactions for this item. 

Preferences fall into two categories: general to QuickBooks, and specific to the company.  General preferences apply independently to each installation of the program. Company preferences apply separately to each company data file.  Company preferences may be changed temporarily in the accountants copy, but these changes will not be exported.  Most apply to recording document transactions, and will have no impact during the review.

Within the ground rules, transactions consistent with generally accepted accounting principles and professional skill may be entered (as well as some not meeting these criteria.)  The finished file can be exported back to the using company.

 

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Last modified: May 21, 2004