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NOT IN USE - Custom ACC 188: Cloud Accounting 2022-2023 (Oakton CC)

by Williams, Wallace

ISBN: 978-1-61853-583-2 | Copyright 2023

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Computerized Accounting with QuickBooks Online, 6e (pg. 1.1-1)
Section One: Introduction (pg. 1.1-1)
Section Overview (pg. 1.1-2)
Chapter 1: Introduction to QuickBooks Online (QBO) (pg. 1.1-3)
A Little Background (pg. 1.1-4)
QuickBooks Online (pg. 1.1-5)
Before We Go Any Further (pg. 1.1-6)
Where To Go For Help (pg. 1.1-7)
Practice (pg. 1.1-7)
Moving Around in QuickBooks Online (pg. 1.1-9)
Accessing Tools (pg. 1.1-9)
Multiple Open Screens (pg. 1.1-13)
The Importance of “Lists” (pg. 1.1-14)
Chart of Accounts List (pg. 1.1-14)
Practice Exercise 1.1 (pg. 1.1-15)
Products and Services List (pg. 1.1-15)
Practice Exercise 1.2 (pg. 1.1-16)
Other Lists in QBO (pg. 1.1-16)
Managing the Chart of Accounts (pg. 1.1-16)
Adding an Account (pg. 1.1-18)
Editing an Account (pg. 1.1-20)
Inactivating an Account (pg. 1.1-20)
Practice Exercise 1.3 (pg. 1.1-20)
Transactions in QuickBooks Online (pg. 1.1-21)
Forms (pg. 1.1-22)
Transaction Types (pg. 1.1-24)
Finding Transactions (pg. 1.1-25)
Practice Exercise 1.4 (pg. 1.1-28)
Reporting (pg. 1.1-28)
Customizing Reports (pg. 1.1-29)
Practice Exercise 1.5 (pg. 1.1-36)
Chapter Shortcuts (pg. 1.1-38)
Chapter Review (pg. 1.1-38)
Beyond the Clicks-Thinking Like a Manager (pg. 1.1-39)
Assignment 1 (pg. 1.1-39)
Appendix 1A Keyboard Shortcuts In QBO (pg. 1.1-41)
QBO Keyboard Shortcuts Available on the Dashboard or in Navigation Tab Windows (pg. 1.1-41)
QBO Keyboard Shortcuts Available in Forms (pg. 1.1-41)
Useful Shortcuts in Date Fields (pg. 1.1-41)
Chapter 2: Setting Up Company Files (pg. 1.2-1)
Introduction (pg. 1.2-2)
Setting Up Company Files in QBO (pg. 1.2-2)
Setting Up Brand New Companies in QBO (pg. 1.2-2)
Converting Existing Companies to QBO (pg. 1.2-4)
Fixing Errors in Company File Setups (pg. 1.2-8)
Customizing QuickBooks Online (pg. 1.2-8)
Customizing Settings In a Company File (pg. 1.2-8)
Practice Exercise 2.1 (pg. 1.2-12)
Setting Up Credit Terms (pg. 1.2-12)
Practice Exercise 2.2 (pg. 1.2-14)
Organizing the Products and Services List (pg. 1.2-16)
Practice Exercise 2.3 (pg. 1.2-18)
Chapter Shortcuts (pg. 1.2-18)
Chapter Review (pg. 1.2-19)
Beyond the Clicks-Thinking Like a Manager (pg. 1.2-20)
Assignment 2A (pg. 1.2-20)
Assignment 2B (pg. 1.2-40)
Appendix 2A Which Accounts Get Debited and Credited When Lists Are Imported Into QBO? (pg. 1.2-60)
Appendix 2B Setting Up Your Google Gmail Account (pg. 1.2-61)
If This Is Your First Gmail Account (pg. 1.2-61)
If You Already Have a Gmail Account (pg. 1.2-62)
Section Two Service Companies (pg. 1.3-1)
When You Make Mistakes (pg. 1.3-1)
Suggestions for Finding Mistakes (pg. 1.3-2)
Section Overview (pg. 1.3-3)
Chapter 3: Sales Activity (Service Company) (pg. 1.3-5)
What is the Sales Cycle in a Service Company? (pg. 1.3-6)
Modifying Standard Sales Settings (pg. 1.3-6)
Practice Exercise 3.1 (pg. 1.3-7)
Managing Customers (pg. 1.3-7)
Customer Center Display (pg. 1.3-8)
Adding a Customer (pg. 1.3-9)
Viewing Customer Information (pg. 1.3-11)
Editing Customer Information (pg. 1.3-13)
Inactivating a Customer (pg. 1.3-13)
Practice Exercise 3.2 (pg. 1.3-15)
Managing Service Items (pg. 1.3-15)
Adding a Service Item (pg. 1.3-16)
Practice Exercise 3.3 (pg. 1.3-19)
Recording Sales Revenue (pg. 1.3-20)
Recording Sales on Account (pg. 1.3-21)
Recording Cash Sales (pg. 1.3-24)
Practice Exercise 3.4 (pg. 1.3-25)
Recording Payments from Customers (pg. 1.3-27)
Payments on Account (pg. 1.3-27)
Practice Exercise 3.5 (pg. 1.3-29)
Making Deposits (pg. 1.3-29)
Practice Exercise 3.6 (pg. 1.3-31)
Recording Customer Credits and Refunds (pg. 1.3-32)
Creating Credit Memos with Automatic Application Set as the Preference (pg. 1.3-33)
Creating Credit Memos with Manual Application (Automatic Application Preference Turned Off) (pg. 1.3-35)
Issuing Refunds to Customers (pg. 1.3-39)
Practice Exercise 3.7 (pg. 1.3-41)
Sales and Customer Reports (pg. 1.3-42)
Practice Exercise 3.8 (pg. 1.3-45)
Sales Cycle Summary (pg. 1.3-46)
Chapter Shortcuts (pg. 1.3-47)
Chapter Review (pg. 1.3-47)
Beyond the Clicks-Thinking Like a Manager (pg. 1.3-48)
Assignment 3A (pg. 1.3-49)
Assignment 3B (pg. 1.3-53)
Chapter 4: Purchasing Activity (Service Company) (pg. 1.4-1)
What is the Purchase Cycle in a Service Company? (pg. 1.4-2)
Managing Vendors (pg. 1.4-2)
Vendor Center Display (pg. 1.4-3)
Adding a Vendor (pg. 1.4-4)
Viewing Vendor Information (pg. 1.4-6)
Editing Vendor Information (pg. 1.4-7)
Inactivating a Vendor (pg. 1.4-7)
Practice Exercise 4.1 (pg. 1.4-8)
Recording Purchases (pg. 1.4-9)
Purchasing on Account (pg. 1.4-10)
Practice Exercise 4.2 (pg. 1.4-12)
Purchasing with Cash or Check (pg. 1.4-14)
Practice Exercise 4.3 (pg. 1.4-15)
Voiding Checks (pg. 1.4-15)
Practice Exercise 4.4 (pg. 1.4-17)
Purchasing with a Credit Card (pg. 1.4-17)
Practice Exercise 4.5 (pg. 1.4-20)
Paying Vendor Balances (pg. 1.4-21)
Paying Multiple Vendor Bills (pg. 1.4-21)
Paying One or More Bills from a Single Vendor (pg. 1.4-23)
Practice Exercise 4.6 (pg. 1.4-25)
Vendor Reports (pg. 1.4-25)
Practice Exercise 4.7 (pg. 1.4-26)
Purchases Cycle Summary (pg. 1.4-26)
Chapter Shortcuts (pg. 1.4-27)
Chapter Review (pg. 1.4-28)
Beyond the Clicks-Thinking Like a Manager (pg. 1.4-29)
Assignment 4A (pg. 1.4-29)
Assignment 4B (pg. 1.4-32)
Appendix 4A Reporting 1099 Vendor Activity (pg. 1.4-35)
Chapter 5: End-of-Period Activity (Service Company) (pg. 1.5-1)
Before Issuing Financial Statements (pg. 1.5-2)
Reconciling Bank and Credit Card Accounts (pg. 1.5-3)
Bank Reconciliations (pg. 1.5-3)
Practice Exercise 5.1 (pg. 1.5-7)
Reviewing the Reconciliation Status of Transactions in the Register (pg. 1.5-7)
Fixing Bank Reconciliation Errors (pg. 1.5-8)
Credit Card Reconciliations (pg. 1.5-8)
Practice Exercise 5.2 (pg. 1.5-12)
Making Adjusting Journal Entries (pg. 1.5-12)
Practice Exercise 5.3 (pg. 1.5-14)
Preparing Financial Statements (pg. 1.5-15)
Practice Exercise 5.4 (pg. 1.5-18)
Closing a Period (pg. 1.5-19)
Closing an Accounting Period (pg. 1.5-19)
Practice Exercise 5.5 (pg. 1.5-20)
Year-end Closing (pg. 1.5-21)
Chapter Shortcuts (pg. 1.5-22)
Chapter Review (pg. 1.5-22)
Beyond the Clicks-Thinking Like a Manager (pg. 1.5-23)
Assignment 5A (pg. 1.5-24)
Assignment 5B (pg. 1.5-26)
Appendix 5A Getting It Right (pg. 1.5-28)
Appendix 5B Understanding the Reconciliation Report (pg. 1.5-30)
Appendix 5C Fixing Reconciliation Errors (pg. 1.5-33)
Section Three Merchandising Companies (pg. 1.6-1)
Controls in QuickBooks Online (pg. 1.6-1)
Managing Users (pg. 1.6-1)
Adding Users (pg. 1.6-2)
Editing, Monitoring, and Deleting Users (pg. 1.6-7)
Reporting on Transaction History (pg. 1.6-8)
Section Overview (pg. 1.6-9)
Chapter 6: Sales Activity (Merchandising Company) (pg. 1.6-11)
What is the Sales Cycle in a Merchandising Company? (pg. 1.6-12)
Managing Customers (pg. 1.6-12)
Setting Up Sub-Customers (pg. 1.6-12)
Practice Exercise 6.1 (pg. 1.6-13)
Shipping Addresses (pg. 1.6-13)
Practice Exercise 6.2 (pg. 1.6-14)
Managing Sales Taxes (pg. 1.6-14)
Setting Up Sales Taxes (pg. 1.6-15)
Managing the Tax Status of Customers (pg. 1.6-19)
Editing Sales Taxes on Sales Transactions (pg. 1.6-21)
Managing Items (Merchandising Company) (pg. 1.6-25)
Setting Up Inventory Items (pg. 1.6-26)
Practice Exercise 6.3 (pg. 1.6-31)
Recording Sales Revenue (pg. 1.6-32)
Customer Discounts (pg. 1.6-32)
Practice Exercise 6.4 (pg. 1.6-34)
Delayed Charges and Delayed Credits (pg. 1.6-35)
Practice Exercise 6.5 (pg. 1.6-39)
Recording Uncollectible Accounts (pg. 1.6-40)
Recording Payments From Customers (pg. 1.6-44)
Customer Payments by Credit Card (pg. 1.6-44)
Practice Exercise 6.7 (pg. 1.6-45)
Depositing Credit Card Receipts (pg. 1.6-45)
Practice Exercise 6.8 (pg. 1.6-47)
Early Payment Discounts (pg. 1.6-47)
Practice Exercise 6.9 (pg. 1.6-49)
Customer Checks Returned by Bank Due to Insufficient Funds (NSF Checks) (pg. 1.6-50)
Practice Exercise 6.10 (pg. 1.6-52)
Customer Reports (pg. 1.6-53)
Practice Exercise 6.11 (pg. 1.6-54)
Customer Statements (pg. 1.6-55)
Practice Exercise 6.12 (pg. 1.6-56)
Chapter Shortcuts (pg. 1.6-57)
Chapter Review (pg. 1.6-57)
Beyond the Clicks-Thinking Like a Manager (pg. 1.6-58)
Assignment 6A (pg. 1.6-58)
Assignment 6B (pg. 1.6-63)
Chapter 7: Purchasing Activity (Merchandising Company) (pg. 1.7-1)
What is the Purchase Cycle in a Merchandising Company? (pg. 1.7-2)
Purchasing Inventory (pg. 1.7-2)
Paying at Time of Purchase (pg. 1.7-3)
Practice Exercise 7.1 (pg. 1.7-4)
Ordering Inventory (pg. 1.7-5)
Practice Exercise 7.2 (pg. 1.7-7)
Practice Exercise 7.3 (pg. 1.7-9)
Receiving Ordered Inventory (pg. 1.7-11)
Practice Exercise 7.4 (pg. 1.7-13)
Practice Exercise 7.5 (pg. 1.7-14)
Managing Purchase Orders (pg. 1.7-16)
Practice Exercise 7.6 (pg. 1.7-17)
Ordering Inventory Without Using the Purchase Order System (pg. 1.7-17)
Vendor Credits (pg. 1.7-17)
Entering Credits from Vendors (pg. 1.7-18)
Applying Credits from Vendors (pg. 1.7-18)
Practice Exercise 7.7 (pg. 1.7-20)
Special Considerations for Returns of Inventory (pg. 1.7-21)
Practice Exercise 7.8 (pg. 1.7-22)
Paying Vendor Balances (pg. 1.7-23)
Early Payment Discounts (pg. 1.7-23)
Practice Exercise 7.9 (pg. 1.7-26)
Vendor Reports (pg. 1.7-27)
Practice Exercise 7.10 (pg. 1.7-27)
Chapter Shortcuts (pg. 1.7-28)
Chapter Review (pg. 1.7-28)
Beyond the Clicks-Thinking Like a Manager (pg. 1.7-29)
Assignment 7A (pg. 1.7-29)
Assignment 7B (pg. 1.7-33)
Appendix 7A FIFO Layers in QBO (pg. 1.7-36)
Chapter 8 End-of-Period and Other Activity (Merchandising Company) (pg. 1.8-1)
Adjusting Inventory (pg. 1.8-2)
Practice Exercise 8.1 (pg. 1.8-6)
Managing Sales Taxes (pg. 1.8-6)
Remitting Sales Tax Liabilities (pg. 1.8-8)
Adjusting Sales Tax Liabilities (pg. 1.8-11)
Deleting Sales Tax Payments (pg. 1.8-14)
Entering Cash Receipts from Non-Customers (pg. 1.8-15)
Recording Bank Transfers (pg. 1.8-17)
Uploading Credit Card Transactions Into QBO (pg. 1.8-18)
Inactivating and Merging General Ledger Accounts (pg. 1.8-25)
Inactivating an Account (pg. 1.8-25)
Merging Accounts (pg. 1.8-27)
Adding Notes to Reports (pg. 1.8-28)
Chapter Shortcuts (pg. 1.8-32)
Chapter Review (pg. 1.8-33)
Matching (pg. 1.8-33)
Multiple Choice (pg. 1.8-33)
Beyond the Clicks-Thinking Like a Manager (pg. 1.8-34)
Assignment 8A (pg. 1.8-34)
Assignment 8B (pg. 1.8-38)
Appendix 8A Direct Downloading of Bank Transactions Into QBO and Setting Bank Rules (pg. 1.8-42)
Setting Banking Rules (pg. 1.8-45)
Section Four Beyond the Basics (pg. 1.9-1)
Chapter 9: Management Tools (pg. 1.9-3)
Tracking by Class and Location (pg. 1.9-4)
Turning on Class Tracking (pg. 1.9-5)
Turning on Location Tracking (pg. 1.9-7)
Practice Exercise 9.1 (pg. 1.9-8)
Setting Up Classes and Locations (pg. 1.9-9)
Practice Exercise 9.2 (pg. 1.9-12)
Adding Class to Item Records (pg. 1.9-12)
Practice Exercise 9.3 (pg. 1.9-13)
Adding Class and Location to Transactions (pg. 1.9-14)
Practice Exercise 9.4 (pg. 1.9-15)
Reporting by Class or Location (pg. 1.9-16)
Creating and Using Budgets (pg. 1.9-17)
Creating Budgets (pg. 1.9-18)
Practice Exercise 9.5 (pg. 1.9-20)
Creating Budget Reports (pg. 1.9-21)
Practice Exercise 9.6 (pg. 1.9-22)
Reversing Entries (pg. 1.9-22)
Practice Exercise 9.7 (pg. 1.9-25)
Recurring Transactions (pg. 1.9-25)
Practice Exercise 9.8 (pg. 1.9-29)
Chapter Shortcuts (pg. 1.9-30)
Chapter Review (pg. 1.9-30)
Beyond the Clicks-Thinking Like a Manager (pg. 1.9-32)
Assignment 9A (pg. 1.9-32)
Assignment 9B (pg. 1.9-38)
Appendix 9A Creating and Managing Tags (pg. 1.9-45)
Creating Tag Groups (pg. 1.9-45)
Creating Tags (pg. 1.9-47)
Adding Tags to Transactions (pg. 1.9-48)
Reporting on Tagged Transactions (pg. 1.9-49)
How Do Tags Differ from Classes and Locations? (pg. 1.9-49)
Chapter 10 Project Tracking and Billing for Time and Expenses (pg. 1.10-1)
Before We Begin (pg. 1.10-2)
Working With Projects (pg. 1.10-2)
Setting Up Projects (pg. 1.10-2)
Managing Projects (pg. 1.10-5)
Setting Up Independent Contractors (pg. 1.10-7)
Using Timesheets To Track Hours (pg. 1.10-11)
Setting Up Time Tracking (pg. 1.10-11)
Entering Timesheet Data (pg. 1.10-12)
Editing Timesheets (pg. 1.10-16)
Tracking Costs Other Than Labor By Project (pg. 1.10-18)
Turning on Features for Tracking and Billing Direct Expenses (pg. 1.10-18)
Accounting for Direct Costs Billed to Customers (pg. 1.10-19)
Practice Exercise 10.3 (pg. 1.10-22)
Identifying Costs as Billable (pg. 1.10-23)
Billing for Time and Costs (pg. 1.10-25)
Practice Exercise 10.5 (pg. 1.10-24)
Preparing Project Reports (pg. 1.10-29)
Chapter Shortcuts (pg. 1.10-30)
Chapter Review (pg. 1.10-30)
Matching (pg. 1.10-30)
Multiple Choice (pg. 1.10-31)
Beyond the Clicks-Thinking Like a Manager (pg. 1.10-32)
Assignment 10A (pg. 1.10-32)
Assignment 10B (pg. 1.10-38)
Appendix 10A Working with Estimates (pg. 1.10-44)
Activating Progress Invoicing (pg. 1.10-44)
Creating Estimates (pg. 1.10-45)
Creating Invoices from Estimates (pg. 1.10-46)
Creating Change Orders (pg. 1.10-49)
Creating Purchase Orders from Estimates (pg. 1.10-50)
Chapter 11: Additional Tools (pg. 1.11-1)
Saving Customized Reports (pg. 1.11-2)
Practice Exercise 11.1 (pg. 1.11-4)
Creating Management Reports (pg. 1.11-5)
Practice Exercise 11.2 (pg. 1.11-10)
Creating Custom Fields (pg. 1.11-11)
Practice Exercise 11.3 (pg. 1.11-13)
Customizing Forms (pg. 1.11-13)
Using Customized Forms (pg. 1.11-17)
Exporting Reports to Excel (pg. 1.11-18)
Uploading and Managing Attachments (pg. 1.11-20)
Adding Attachments to Customer or Vendor Records (pg. 1.11-20)
Adding Attachments to Transactions (pg. 1.11-21)
Adding Attachments Directly to the Attachment Lists (pg. 1.11-22)
Uploading Receipts (pg. 1.11-23)
Chapter Shortcuts (pg. 1.11-26)
Chapter Review (pg. 1.11-27)
Beyond the Clicks-Thinking Like a Manager (pg. 1.11-28)
Assignment 11A (pg. 1.11-28)
Assignment 11B (pg. 1.11-30)
Section Five Paying Employees (pg. 1.12-1)
Before We Move Forward (pg. 1.12-1)
Chapter 12: Payroll Activity (pg. 1.12-3)
What is the Payroll Cycle? (pg. 1.12-4)
Processing Payroll in QBO (pg. 1.12-4)
Chapter 12 Structure (pg. 1.12-5)
Payroll Primer (pg. 1.12-5)
Becoming an Employer (pg. 1.12-5)
Hiring Employees (pg. 1.12-6)
Compensation (pg. 1.12-7)
Payroll Taxes-Reporting and Remitting (pg. 1.12-8)
Other Payroll Deductions and Costs (pg. 1.12-9)
Payroll System Walkthrough (pg. 1.12-9)
Step 1-Set Up a New Company File (pg. 1.12-9)
Step 2-Activate Payroll (pg. 1.12-14)
Step 3-Add Employees (pg. 1.12-17)
Step 4-Finish the Payroll Setup (pg. 1.12-25)
Step 5-Process Payroll (pg. 1.12-32)
Step 6-Remit Payroll Taxes (pg. 1.12-35)
Step 7-Access Payroll Reports (pg. 1.12-37)
Step 8-Edit Employees When Necessary (pg. 1.12-38)
Chapter Shortcuts (pg. 1.12-40)
Chapter Review (pg. 1.12-40)
Beyond the Clicks-Thinking Like a Manager (pg. 1.12-41)
Assignment 12 (pg. 1.12-41)
Section Six Cognitive Technologies, Data Analysis, and QBO (pg. 1.13-1)
Chapter 13: Big Data, Cognitive Technologies, and QBO (pg. 1.13-3)
What Is Big Data? (pg. 1.13-4)
More about Types and Sources of Big Data (pg. 1.13-5)
Processing Data (Extracting, Transforming, and Loading) (pg. 1.13-6)
What is Artificial Intelligence and How is It Used? (pg. 1.13-7)
Artificial Intelligence in QBO (pg. 1.13-8)
Privacy and Ethical Issues with Big Data (pg. 1.13-9)
Chapter Review (pg. 1.13-10)
Beyond the Clicks-Thinking Like a Manager (pg. 1.13-11)
Assignment 13A (pg. 1.13-11)
Assignment 13B (pg. 1.13-12)
Chapter 14: Data Analytics and Data Visualization (pg. 1.14-1)
What is Data Analytics? (pg. 1.14-2)
Tools for Data Analysis (pg. 1.14-3)
Analysis Tools in QBO (pg. 1.14-3)
Analysis Tools in Spreadsheet Programs (pg. 1.14-4)
Analysis Tools in Data Visualization Software (pg. 1.14-14)
Best Practices in Data Visualization (pg. 1.14-16)
Select an Appropriate Chart Type (pg. 1.14-16)
Use Color to Highlight the Data (pg. 1.14-17)
Add Text to Explain and Add Context (pg. 1.14-17)
Remove Unnecessary Elements (pg. 1.14-18)
Make Sure the Visualizations are Objective and Balanced (pg. 1.14-18)
Beyond The Numbers and Into The Future (pg. 1.14-19)
Chapter Review (pg. 1.14-19)
Beyond the Clicks-Thinking Like a Manager (pg. 1.14-20)
Assignment 14 (pg. 1.14-20)
Appendix A: Is Computerized Accounting Really the Same as Manual Accounting? (pg. 1.A-1)
Accrual and Cash Basis Accounting in QuickBooks Online (pg. 1.A-3)
Comparison of Computerized and Manual Accounting Systems (pg. 1.A-5)
Journal Entries (pg. 1.A-5)
Journals (pg. 1.A-6)
General Ledger and T-Accounts (pg. 1.A-7)
Trial Balances (pg. 1.A-8)
Appendix B: Account Types and Common Transaction Types Used in QBO (pg. 1.B-1)
Appendix C: Common Options Available on Various Forms (pg. 1.C-1)
Quick Reference Guide To Accounting Terms (pg. 1.G-1)
Financial Accounting for Undergraduates, 5e (pg. 2.1-1)
Chapter 1: Financial Accounting and Business Decisions (pg. 2.1-1)
Business Organization (pg. 2.1-3)
Your Turn! 1.1 (pg. 2.1-4)
Activities of a Business (pg. 2.1-4)
Financing Activities (pg. 2.1-4)
Investing Activities (pg. 2.1-4)
Operating Activities (pg. 2.1-5)
Your Turn! 1.2 (pg. 2.1-5)
Accounting Information and Its Use (pg. 2.1-5)
External Users of Accounting (pg. 2.1-5)
Internal Users of Accounting (pg. 2.1-6)
Your Turn! 1.3 (pg. 2.1-7)
Ethics and Accounting (pg. 2.1-7)
Your Turn! 1.4 (pg. 2.1-8)
The Accounting Process (pg. 2.1-8)
Generally Accepted Accounting Principles (pg. 2.1-9)
International Financial Reporting Standards (pg. 2.1-10)
Your Turn! 1.5 (pg. 2.1-10)
Financial Statements (pg. 2.1-11)
Balance Sheet (pg. 2.1-11)
Income Statement (pg. 2.1-13)
Statement of Stockholders’ Equity (pg. 2.1-13)
Statement of Cash Flows (pg. 2.1-15)
Relations Among the Financial Statements (pg. 2.1-15)
Your Turn! 1.6 (pg. 2.1-17)
Other Annual Report Components (pg. 2.1-17)
Notes to Financial Statements (pg. 2.1-18)
Independent Auditor’s Report (pg. 2.1-18)
Management’s Discussion and Analysis (pg. 2.1-18)
Your Turn! 1.7 (pg. 2.1-19)
Environmental, Social, and Governance Reporting (pg. 2.1-20)
Careers in Accounting (pg. 2.1-20)
Data Analytics and Blockchain Technology (pg. 2.1-21)
Comprehensive Problem (pg. 2.1-22)
Appendix 1A: FASB’s Conceptual Framework (pg. 2.1-23)
Financial Reporting Objectives (pg. 2.1-24)
Financial Statement Elements (pg. 2.1-24)
Qualitative Characteristics (pg. 2.1-24)
Recognition and Measurement Criteria (pg. 2.1-25)
Summary of Learning Objectives (pg. 2.1-26)
Key Terms (pg. 2.1-28)
Self-Study Questions (pg. 2.1-29)
Questions (pg. 2.1-30)
Short Exercises (pg. 2.1-31)
Data Analytics (pg. 2.1-34)
Data Visualization (pg. 2.1-35)
Exercises-Set A (pg. 2.1-35)
Exercises-Set B (pg. 2.1-39)
Problems-Set A (pg. 2.1-42)
Problems-Set B (pg. 2.1-46)
Serial Problem: Kate’s Cards (pg. 2.1-49)
Extending Your Knowledge (pg. 2.1-50)
Answers to Self-Study Questions: (pg. 2.1-53)
Your Turn! Solutions (pg. 2.1-53)
Chapter 2: Processing Accounting Information (pg. 2.2-1)
Accounting Cycle (pg. 2.2-3)
Your Turn! 2.1 (pg. 2.2-4)
Analyzing Transactions (pg. 2.2-4)
Accounting Equation Expanded (pg. 2.2-5)
Transactions and the Accounting Equation: An Illustration (pg. 2.2-5)
Transaction Summary (pg. 2.2-9)
Your Turn! 2.2 (pg. 2.2-10)
The Account System (pg. 2.2-11)
Chart of Accounts (pg. 2.2-11)
System of Debits and Credits (pg. 2.2-11)
Your Turn! 2.3 (pg. 2.2-13)
Your Turn! 2.4 (pg. 2.2-13)
Recording Transactions (pg. 2.2-14)
General Journal (pg. 2.2-14)
Posting Journal Entries to the General Ledger (pg. 2.2-15)
Illustration of the Recording Process (pg. 2.2-16)
Summary Illustration of Journalizing and Posting Transactions (pg. 2.2-20)
Your Turn! 2.5 (pg. 2.2-21)
Trial Balance (pg. 2.2-22)
Your Turn! 2.6 (pg. 2.2-23)
Comprehensive Problem (pg. 2.2-23)
Summary of Learning Objectives (pg. 2.2-25)
Key Terms (pg. 2.2-26)
Self-Study Questions (pg. 2.2-27)
Questions (pg. 2.2-28)
Short Exercises (pg. 2.2-29)
Data Analytics (pg. 2.2-30)
Data Visualization (pg. 2.2-31)
Exercises-Set A (pg. 2.2-31)
Exercises-Set B (pg. 2.2-34)
Problems-Set A (pg. 2.2-38)
Problems-Set B (pg. 2.2-46)
Serial Problem: Kate’s Cards (pg. 2.2-53)
Extending Your Knowledge (pg. 2.2-54)
Answers to Self-Study Questions: (pg. 2.2-59)
Your Turn! Solutions (pg. 2.2-59)
Chapter 3: Accrual Basis of Accounting (pg. 2.3-1)
Accrual Basis of Accounting (pg. 2.3-3)
Revenue Recognition Principle (pg. 2.3-3)
Expense Recognition (Matching) Principle (pg. 2.3-5)
Your Turn! 3.1 (pg. 2.3-6)
Adjusting Accounts (pg. 2.3-7)
Unadjusted Trial Balance (pg. 2.3-7)
Types of Adjustments (pg. 2.3-7)
Your Turn! 3.2 (pg. 2.3-8)
Deferral Adjusting Entries (pg. 2.3-8)
Allocating Previously Recorded Assets to Expenses (pg. 2.3-8)
Allocating Previously Recorded Unearned Revenue to Revenue (pg. 2.3-10)
Your Turn! 3.3 (pg. 2.3-11)
Accrual Adjusting Entries (pg. 2.3-11)
Recording Previously Unrecorded Expenses (pg. 2.3-11)
Recording Previously Unrecorded Revenues (pg. 2.3-12)
Summary of Accounting Adjustments (pg. 2.3-13)
Your Turn! 3.4 (pg. 2.3-15)
Adjusted Trial Balance and Financial Statements (pg. 2.3-15)
Preparing the Adjusted Trial Balance (pg. 2.3-15)
Preparing Financial Statements (pg. 2.3-16)
STEP 1: Income Statement (pg. 2.3-16)
STEP 2: Statement of Stockholders’ Equity (pg. 2.3-16)
STEP 3: Balance Sheet (pg. 2.3-17)
STEP 4: Statement of Cash Flows (pg. 2.3-17)
Your Turn! 3.5 (pg. 2.3-18)
Closing Process (pg. 2.3-19)
Your Turn! 3.6 (pg. 2.3-19)
Journalizing and Posting the Closing Entries (pg. 2.3-19)
Summary of the Accounting Cycle (pg. 2.3-21)
Your Turn! 3.7 (pg. 2.3-22)
Quality of Accounting Numbers (pg. 2.3-22)
Comprehensive Problem (pg. 2.3-23)
Appendix 3A: Closing Process-Using Income Summary Account (pg. 2.3-26)
Your Turn! 3A.1 (pg. 2.3-27)
Journalizing and Posting the Closing Entries (pg. 2.3-27)
Summary of the Accounting Cycle (pg. 2.3-29)
Your Turn! 3A.2 (pg. 2.3-30)
Appendix 3B: Using a Worksheet (pg. 2.3-30)
Preparing a Worksheet (pg. 2.3-30)
Summary of Learning Objectives (pg. 2.3-33)
Key Terms (pg. 2.3-34)
Self-Study Questions (pg. 2.3-34)
Questions (pg. 2.3-35)
Short Exercises (pg. 2.3-35)
Data Analytics (pg. 2.3-37)
Data Visualization (pg. 2.3-37)
Exercises-Set A (pg. 2.3-37)
Exercises-Set B (pg. 2.3-41)
Problems-Set A (pg. 2.3-44)
Problems-Set B (pg. 2.3-52)
Serial Problem: Kate’s Cards (pg. 2.3-60)
Extending Your Knowledge (pg. 2.3-61)
Answers to Self-Study Questions: (pg. 2.3-64)
Your Turn! Solutions (pg. 2.3-65)
Chapter 12: Statement of Cash Flows (pg. 2.12-1)
Cash and Cash Equivalents (pg. 2.12-3)
Activity Classifications in the Statement of Cash Flows (pg. 2.12-4)
Operating Activities (pg. 2.12-5)
Investing Activities (pg. 2.12-5)
Financing Activities (pg. 2.12-6)
Usefulness of Activity Classification (pg. 2.12-6)
Noncash Investing and Financing Activities (pg. 2.12-7)
Using the Statement of Cash Flows (pg. 2.12-8)
Cash Flow from Operating Activities (pg. 2.12-8)
Your Turn! 12.1 (pg. 2.12-9)
Preparing the Statement of Cash Flows Using the Indirect Method (pg. 2.12-9)
Five Steps to Preparing a Statement of Cash Flows (pg. 2.12-11)
Your Turn! 12.2 (pg. 2.12-17)
Analyzing Cash Flows (pg. 2.12-18)
Free Cash Flow (pg. 2.12-18)
Operating-Cash-Flow-to-Current-Liabilities Ratio (pg. 2.12-18)
Operating-Cash-Flow-to-Capital-Expenditures Ratio (pg. 2.12-19)
Your Turn! 12.3 (pg. 2.12-20)
Comprehensive Problem (pg. 2.12-20)
Appendix 12A: Preparing the Statement of Cash Flows Under the Direct Method (pg. 2.12-22)
Your Turn! 12A.1 (pg. 2.12-25)
Summary of Learning Objectives (pg. 2.12-25)
Key Terms (pg. 2.12-26)
Self-Study Questions (pg. 2.12-27)
Questions (pg. 2.12-28)
Short Exercises (pg. 2.12-29)
Data Analytics (pg. 2.12-30)
Data Visualization (pg. 2.12-31)
Exercises-Set A (pg. 2.12-31)
Exercises-Set B (pg. 2.12-34)
Problems-Set A (pg. 2.12-37)
Problems-Set B (pg. 2.12-42)
Serial Problem: Kate’s Cards (pg. 2.12-46)
Extending Your Knowledge (pg. 2.12-47)
Answers to Self-Study Questions: (pg. 2.12-50)
Your Turn! Solutions (pg. 2.12-50)
Gayle Williams

Gayle Williams

Adjunct Professor of Accounting, Sacramento City College

Gayle Williams is an Adjunct Professor of Accounting at Sacramento City College, where she teaches computerized accounting. She received a BA in Comparative Literature and an MBA with a concentration in Accounting from the University of Washington. Professor Williams holds a CPA certification from the states of Washington and California and has worked in public accounting, with Voldal Wartelle & Co, P.S. and Moss Adams LLP, and in private industry.

She has books available for both QuickBooks Desktop and QuickBooks Online.

James S. Wallace

James S. Wallace

Associate Professor at The Peter F. Drucker and Masatoshi Ito Graduate School of Management at The Claremont Graduate University.

He received his Bachelors of Arts from the University of California, Santa Barbara, his MBA from the University of California, Davis, and his PhD from the University of Washington. Professor Wallace also holds a CPA certification from the state of California. He previously served on the faculty of the University of California, Irvine and has served as a visiting professor at the University of California, San Diego. Professor Wallace's work has appeared in leading academic journals including the Journal of Accounting and Economics, the Journal of Corporate Finance, and Information Systems Research, along with leading applied journals such as the Journal of Applied Corporate Finance, the Journal of Accountancy, Issues in Accounting Education and Accounting Horizons. Prior to his career in academics, Professor Wallace worked in public accounting and in industry with a Fortune 500 company. He has done consulting work with numerous companies in multiple industries.
Computerized Accounting with QuickBooks Online, 6e (Williams, Johnson)
Errata
Last Updated: Jan 18 2023

Corrections to the text for identified errors and certain software changes.

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Getting Started
Last Updated: Mar 20 2023

What you will need to get started in the course.

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Math Revealed! Import, Upload, and Dataset Files
Last Updated: Mar 20 2023

Import and Upload files for Math Revealed! 

Here are the files you will use to get started with your homework company (Ch2), files you will use to upload banking transactions (Ch8) and receipts (Ch11), and the data files for Chapters 13 and 14 assignments.

  • Chapter 13 Sales Data file REVISED 120622
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Salish Software Solutions mport, Upload, and Dataset Files
Last Updated: Mar 21 2023

Import and Upload files for Salish Software Solutions.

Here are the files you will use to get started with your homework company (Ch2), files you will use to upload banking transactions (Ch8) and receipts (Ch11), and the data files for Chapters 13 and 14 assignments.

Download
Tips and Updates
Last Updated: May 15 2023

Tips for common issues AND Updates for QBO.  Includes:

  • Help! The test drive company isn't working
  • How to use MBC to make your life a whole lot easier
  • Ch01:  Changes to Advanced Search Tool 
  • Ch01:  Comparison of Old and New Account Setup Screens
  • Ch01:  Creating New Accounts (New Process) 
  • Ch01:  PE 1.3 Revised for Changes in QBO
  • Ch01:  PE 1.4 Revised for New Advanced Search Tool 
  • Ch01:  Changes to the navigation bar (and teh disappearance of tabs!) 
  • Ch01:  Changes to Customization of Certain Reports
  • Ch01:  New Get things done tab on Dashboard - NEW
  • Ch02:  Correctected Opening Entry for Salish Software Solutions (Step 14)
  • Ch02:  New Condensed Versions of New File Setup Questions 
  • Ch02:  Shortcut to adding categories to imported products and services 
  • Ch03:  Accessing and Editing Invoices
  • Ch03:  Correcting Errors in Sales Transactions
  • Ch03:  New screen when recording the first invoice 
  • Ch03:  New Invoice Form 
  • Ch05:  Undoing bank reconciliations - Student
  • Ch06:  Correcting Sales Tax Issues
  • Ch07:  Common Errors in New Product Setup
  • Ch07:  Reading the Inventory Valuation Detail Report
  • Ch07:  Help! My Inventory is Off $2 (Math Revealed! ONLY) 
  • Ch08:  Editing Inventory Quantity Adjustments
  • Ch08:  Remitting Sales Tax Liabilities screen changes
  • Ch08:  Unmatched Credit Card Uploads 
  • Ch10:  Changes to Time Tracking in QBO 
  • Ch10:  Help! I can't add a time entry! 
  • Ch11:  Management Report Changes 
  • Ch12:  New Process for Adding Employees REVISED 
  • Ch12:  Changes to Payroll Setup and Payroll Tax Remittance 
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Certification
Last Updated: Mar 20 2023

Includes:

  • Certification Handout
  • Mapping of the objectives of the QuickBooks Online Certified User exam, administered by Certiport, to the coverage (page number) in the textbook.
Download
Errata
Last Updated: Mar 21 2023

Corrections to the text for identified errors and certain software changes.
Getting Started
Last Updated: Mar 21 2023

What you will need to get started in the course.
Math Revealed! Import, Upload, and Dataset Files
Last Updated: Mar 21 2023

Import and Upload files for Math Revealed! 

Here are the files you will use to get started with your homework company (Ch2), files you will use to upload banking transactions (Ch8) and receipts (Ch11), and the data files for Chapters 13 and 14 assignments.

  • Chapter 13 Sales Data file REVISED 120622
Salish Software Solutions import, Upload, and Dataset Files
Last Updated: Jun 26 2023

Import and Upload files for Salish Software Solutions.

Here are the files you will use to get started with your homework company (Ch2), files you will use to upload banking transactions (Ch8) and receipts (Ch11), and the data files for Chapters 13 and 14 assignments.
Tips and Updates
Last Updated: May 15 2023

Tips for common issues AND Updates for QBO.  Includes:

  • Help! The test drive company isn't working
  • How to use MBC to make your life a whole lot easier
  • Ch01:  Changes to Advanced Search Tool 
  • Ch01:  Comparison of Old and New Account Setup Screens
  • Ch01:  Creating New Accounts (New Process) 
  • Ch01:  PE 1.3 Revised for Changes in QBO
  • Ch01:  PE 1.4 Revised for New Advanced Search Tool 
  • Ch01:  Changes to the navigation bar (and teh disappearance of tabs!) 
  • Ch01:  Changes to Customization of Certain Reports
  • Ch01:  New Get things done tab on Dashboard - NEW
  • Ch02:  Correctected Opening Entry for Salish Software Solutions (Step 14)
  • Ch02:  New Condensed Versions of New File Setup Questions 
  • Ch02:  Shortcut to adding categories to imported products and services 
  • Ch03:  Accessing and Editing Invoices
  • Ch03:  Correcting Errors in Sales Transactions
  • Ch03:  New screen when recording the first invoice 
  • Ch03:  New Invoice Form 
  • Ch05:  Undoing bank reconciliations - Student
  • Ch06:  Correcting Sales Tax Issues
  • Ch07:  Common Errors in New Product Setup
  • Ch07:  Reading the Inventory Valuation Detail Report
  • Ch07:  Help! My Inventory is Off $2 (Math Revealed! ONLY) 
  • Ch08:  Editing Inventory Quantity Adjustments
  • Ch08:  Remitting Sales Tax Liabilities screen changes
  • Ch08:  Unmatched Credit Card Uploads 
  • Ch10:  Changes to Time Tracking in QBO 
  • Ch10:  Help! I can't add a time entry! 
  • Ch11:  Management Report Changes 
  • Ch12:  New Process for Adding Employees REVISED 
  • Ch12:  Changes to Payroll Setup and Payroll Tax Remittance 
Certification
Last Updated: Mar 21 2023

Includes:

  • Certification Handout
  • Mapping of the objectives of the QuickBooks Online Certified User exam, administered by Certiport, to the coverage (page number) in the textbook.
Financial Accounting for Undergraduates, 5e (Wallace, Nelson, Christensen)
Errata
Last Updated: Jan 20 2024

Corrections to identified errors in the first printing. 

Download
Excel Templates
Last Updated: Jul 18 2023

Excel templates for use with identified end-of-chapter assignments.