DOWNLOAD PDF GENERAL JOURNAL ENTRIES EXAMPLES
|
|
- Melvyn Bryan
- 5 years ago
- Views:
Transcription
1 Chapter 1 : Accounting Journal Entries â Accounting Questions and Answers Journal entries use debits and credits to record the changes of the accounting equation in the general journal. Traditional journal entry format dictates that debited accounts are listed before credited accounts. If completed manually, please be sure the writing is legible or the journal may be returned. Then hit the tab key to advance to the next field. This is the date of the transaction, NOT the date you complete the form. The format for the date is month, day, and year with the month spelled out. Indicate the total number of pages for this journal. If you do not know how long the journal will be, skip this field and enter it later handwritten is OK. Complete each journal line with the proper chartfield string, the amount in either the debit or credit column, and a description for that line. This description is limited to 30 characters and is the description that will be printed on the Detail Transaction Management Report. Meaningful abbreviations are appropriate. The line description is not intended to be a complete explanation of the journal see Step 7. Finish page one by completing steps 6 through Enter the total amount for each of the debit and credit columns. If the journal is longer than one page, do not enter the totals on page one; enter the totals on the last page of the journal. If appropriate documentation to justify the journal is too voluminous to attach to the journal, please note where additional documentation is available, i. Provide a complete but concise explanation for the purpose of the journal. Remember, what might make sense to you today may not be as clear a few months later. Consider those who may read the journal sometime in the future. Indicate to whom and where additional copies of the journal should be sent, if appropriate. Indicate who is requesting the journal. Indicate who prepared the journal, the date the journal is being prepared different from the Accounting Date, see Step 1. Keep one copy in your office and send the other copy with appropriate documentation to the appropriate accounting office. All other journals should be sent to General Accounting, Park Building. Obtain appropriate departmental or other approvals before sending a copy to the accounting office. This field is used to retrieve copies of journals from the imaging system. Therefore, please do not make a blank copy of the journal and reuse it for more than one journal. Fill in the same date used on the first page of the journal. Indicate the page number of the journal and the total page numbers for the journal. The line description is not intended to be a complete explanation of the journal. If there are not sufficient lines available to complete the journal on this continuation form, use as many continuation forms as necessary to complete the journal. Enter the total amount for each of the debit and credit columns for the entire journal on the last continuation form. Keep one copy in your office and send the other copy, with all other pages of the journal, to the appropriate accounting office. All fields will be cleared and the process can be repeated. Page 1
2 Chapter 2 : Journal Entry Examples - AccountingVerse Frequent journal entries are usually recorded in specialized journals, for example, sales journal and purchases journal. The rest are recorded in a general journal. The following example illustrates how to record journal entries. As business events occur throughout the accounting period, journal entries are recorded in the general journal to show how the event changed in the accounting equation. For example, when the company spends cash to purchase a new vehicle, the cash account is decreased or credited and the vehicle account is increased or debited. How to Make a Journal Entry Here are the steps to making an accounting journal entry. Identify Transactions There are generally three steps to making a journal entry. First, the business transaction has to be identified. Using our vehicle example above, you must identify what transaction took place. In this case, the company purchased a vehicle. This means a new asset must be added to the accounting equation. Analyze Transactions After an event is identified to have an economic impact on the accounting equation, the business event must be analyzed to see how the transaction changed the accounting equation. When the company purchased the vehicle, it spent cash and received a vehicle. Total assets increased and decreased by the same amount, but an economic transaction still took place because the cash was essentially transferred into a vehicle. Journalizing Transactions After the business event is identified and analyzed, it can be recorded. Journal entries use debits and credits to record the changes of the accounting equation in the general journal. Traditional journal entry format dictates that debited accounts are listed before credited accounts. Each journal entry is also accompanied by the transaction date, title, and description of the event. Here is an example of how the vehicle purchase would be recorded. Since there are so many different types of business transactions, accountants usually categorize them and record them in separate journal to help keep track of business events. For instance, cash was used to purchase this vehicle, so this transaction would most likely be recorded in the cash disbursements journal. There are numerous other journals like the sales journal, purchases journal, and accounts receivable journal. Here are the events that take place. Entry 6 â PGS has a grand opening and makes it first sale. Pay makes his first payroll payment. Here is an additional list of the most common business transactions and the journal entry examples to go with them. Page 2
3 Chapter 3 : General Journal Accounting Journal Template Example General Journal Description The general journal is part of the accounting record keeping system. When an event occurs that must be recorded, it is called a transaction, and may be recorded in a specialty journal or in the general journal. Most states permit Par value stock, and some have a Legal Capital rule, forcing corporations to maintain tangible capital equal to the Legal Capital. This is in place to protect stockholders. Some states permit No-Par stock. States also allow Preferred stock, which pays a fixed dividend, similar to an interest-bearing investment. Preferred stock usually has a Par value, and is recorded as in the example above, except the Preferred Stock account is used. Posting to the Ledger Journal entries must be posted to the Ledger accounts on a regular basis. In many computer based systems this is done automatically, when journal entries are made. In a manual system, and some computer systems, the journal entries are posted on a daily, weekly or monthly basis, called "batch posting. You have to be very careful to post all journal entries, get the dollar amounts right, and enter them in the correct column of the correct account. Needless to say, in a manual system errors do get made. Posting is actually a routine and mechanical procedure. A T-Account is just a simple way to represent a Ledger account. This makes it easier to do homework assignments or analyze transactions. Some homework assignments will only use a few accounts, and there will only be one or two entries to each account. You can make three T-Accounts across a page, and several rows down the page. The Cash account should be larger than the rest, since it will have quite a few entries in most assignments. When you post to T-Accounts, make a large T and write the name of the account above it. Write the Debit entries on the left half of the T, and Credit entries on the right side of the T. You can draw a line underneath the entries, net all the entries together, and put the balance on the correct side of the T below the line. The Income Statement Relates to a period of time. The opposite side entry is usually made only to correct an error in an earlier journal entry. This is true of all income statement accounts. Many balance sheet accounts tend to increase and decrease on a regular basis. Income statement accounts only increase, and do so according the the rules above. It is really easy to remember this simple rule. Page 3
4 Chapter 4 : Accounting Journal Entries Accounting Journal Entry Examples. More Examples of Journal Entries Accounting Equation Double Entry Recording of Accounting Transactions Accounting for General. November 6, Lesson 3 in the Basic Accounting series: Let us show you the steps and some examples! What is a Journal Entry? A journal entry is the primary record of all financial transactions of a business in chronological order. Before computer accounting software programs, the process of recording transactions was manual and recorded in a paper journal and is where the term journal entry comes from. What are Journal Entries Used For? Journal entries are used to record daily financial transactions to analyze how financial transactions impact a business The journal entries are aggregated to the general ledger which is then used to construct financial statements. What is in a Journal Entry? A journal entry should typically include: In a double entry accounting system used by most businesses every business transaction is recorded in at least two accounts. Debits and credits must balance equal. See more about debits and credits in our basic accounting concepts section. Step 2 â Journalizing Note: Today most accounting is done on computers and the journalizing recording accounting journal entries is done in the background; however, it is still important to know the basics of double entry accounting. In manual accounting, each financial transaction is first recorded in a book called a journal. In that accounting journal entry, the title of the account to be debited is listed first, followed by the amount to be debited. The title of the account to be credited is listed below and to the right of the debit, followed by the amount to be credited. To determine which account is debited and which is credited you have to first determine what kind of account is being affected and if it was increased or decreased. To determine which account is debited and which is credited memorize this basic accounting equation the foundation of all basic accounting concepts: Step 4 â Recording Accounting Journal Entries: To record a business transaction in an accounting journal entry, we need to look closely at the transaction and see which accounts it involves and if it increased or decreased those accounts. If it involved an asset account such as Cash, you would picture that basic accounting equation above and know that its normal balance is on the left side debit side, so if we received increase cash we would record the amount on the left side. However, if it decreased our asset account such as paying our small business bills, we would record it on the second line and on the right side to show a decrease in that account. To sum it upâ remembering the basic accounting equation: For income statement accounts such as revenue income and expenses, you just need to remember revenue accounts have a normal right credit balance. Expenses have a normal debit left balance. To increase your expense account, you would record the amount on its normal debit left side and to decrease it you would record the amount on its opposite credit side. Expenses are almost always debited! Bob open their brand new store selling thingamajigs. Here are some examples of their basic accounting journal entries for the first accounting period: How should the general journal entry be made? Chapter 5 : Instructions For General Journal Entry Form Financial & Business Services In the Make General Journal Entries window, enter the appropriate date. Fil in the entry number. In the detail select the appropriate accounts that will be affected. Chapter 6 : General Journal Examples Wyzant Resources Examples of General Journals In the previous lesson, we learned about the general journal and how to capture economic blog.quintoapp.com's try an easy example using this simple system. Chapter 7 : General Journal Entries A Journal entry is the first step of the accounting or book-keeping process. In this step, all the accounting transactions Page 4
5 are recorded in general journal in a chronological order. Chapter 8 : Journal Entry Examples: Learning Accounting the Easy Way Smaller businesses tend to only use a general journal that includes all transactions. Recording journal entries is only the first step in the accounting cycle. If you are interested in learning accounting, try an introduction to financial accounting. Chapter 9 : How to Record Accounting Journal Entries â Basic Accounting Help General Journal Entries The journal is the point of entry of business transactions into the accounting system. It is a chronological record of the transactions, showing an explanation of each transaction, the accounts affected, whether those accounts are increased or decreased, and by what amount. Page 5
DOWNLOAD PDF JOURNAL ENTRY EXAMPLES ACCOUNTING
Chapter 1 : Ledger Accounts Posting Transactions Example Analyzing transactions and recording them as journal entries is the first step in the accounting blog.quintoapp.com begins at the start of an accounting
More informationDOWNLOAD PDF LIST OF DEBIT AND CREDIT ITEMS IN ACCOUNTING
Chapter 1 : Debits and Credits If the words "debits" and "credits" sound like a foreign language to you, you are more perceptive than you realizeâ "debits" and "credits" are words that have been traced
More informationAssociated Budgets. Nicole Šebik Finance Business Analysis
Associated Budgets Nicole Šebik Finance Business Analysis After this webinar you ll 1 Know how trust budgets are loaded 4 Know which chartfield string expense budget journals post to 2 Know how to identify
More informationCheckbook Table of Contents. Receive Money Overview Spend Money Overview
Checkbook Table of Contents Receive Money Overview Spend Money Overview Changing Receive Money transactions To change a Receive Money transaction To change a recurring Receive Money template's name or
More informationIntroduction Cengage Learning. All Rights Reserved.
Introduction How would you obtain a balance for any account recorded in the journal? How do you keep track of cash received and spent? Name different ways you can pay with cash. What types of accounts
More informationAbout Year End Processes
About Year End Processes Preparation for Year End Closing Year end closing in Microsoft Dynamics NAV involves three steps: 1. Closing the fiscal year using the Accounting Periods option. 2. Generating
More informationShelbyNext Financials: Credit Card Tracking (Course #N211)
ShelbyNext Financials: Credit Card Tracking (Course #N211) Presented by: Dave Heston Shelby Consultant 2017 Shelby Systems, Inc. Other brand and product names are trademarks or registered trademarks of
More information14. Roster Processing
14. Roster Processing Plan processing Roster processing Roster processing roster list You can create rosters by entering data manually or by using the file import capability. If you want to create the
More informationBooklet 2. e1 Training Guidance Notes. Purchases and Payments
Booklet 2 e1 Training Guidance Notes Purchases and Payments (Revised September 2014) Table of Contents Introduction... 2 1. Purchase Orders... 3 1.1 New orders... 3 1.2. Setting up Contacts Suppliers/Customers...
More informationNexsure Training Manual - Accounting. Chapter 16
Nexsure Training Manual - Accounting Month-End Review In This Chapter Overview Analyzing Month-End Financial Reports Month-End Accounting & Management Reports Month-End Balancing Month-End Corrections
More informationLesson 2: Banking and Credit Cards
Sage 50 Premium Accounting 2016 Level 2 Lesson 2: Banking and Credit Cards Lesson Objectives In this lesson, you will learn how to set up and use the bank reconciliation feature in Sage 50 Accounting.
More informationCHAPTER 8: PERIOD-END PROCEDURES
Chapter 8: Period-End Procedures CHAPTER 8: PERIOD-END PROCEDURES Training Objectives Actively participating in this chapter helps you: Understand the procedures that are completed at the end of an accounting
More informationTips & Tricks General Ledger Infinite Visions Enterprise Edition: General Ledger
Tips & Tricks General Ledger Infinite Visions Enterprise Edition: General Ledger CLASS DESCRIPTION Let s learn something new in the General Ledger module that can help with your daily data entry and also
More informationIn this chapter: Budgets and Planning Tools. Configure a budget. Report on budget versus actual figures. Export budgets.
Budgets and Planning Tools In this chapter: Configure a budget Report on budget versus actual figures Export budgets Project cash flow Chapter 23 479 Tuesday, September 18, 2007 4:38:14 PM 480 P A R T
More informationSage Bank Services User's Guide
Sage 300 2017 Bank Services User's Guide This is a publication of Sage Software, Inc. Copyright 2016. Sage Software, Inc. All rights reserved. Sage, the Sage logos, and the Sage product and service names
More informationSage Bank Services User's Guide. May 2017
Sage 300 2018 Bank Services User's Guide May 2017 This is a publication of Sage Software, Inc. 2017 The Sage Group plc or its licensors. All rights reserved. Sage, Sage logos, and Sage product and service
More informationSpending Money. Chapter 6
Spending Money Chapter 6 The Banking module is very useful in MYOB. Many businesses use the Banking module for all their financial transactions, without ever using the Sales or Purchases area. Businesses
More informationFiscal Year End: Manual PO Rollover
Fiscal Year End: Manual PO Rollover PO encumbrances on all budgets, except for grants budgets, must have the encumbered amount moved from the previous fiscal year budget to the new fiscal year budget.
More informationAccounting. Chapter 6
Accounting Chapter 6 Aim: What are four source documents and when would they be used? Do Now: Take a Do Now slip. Answer: Why do people use journals? Have you ever kept a daily journal of the things that
More informationShelbyNext Financials: General Ledger Best Practices
ShelbyNext Financials: General Ledger Best Practices (Course #F213) Presented by: Dave Heston Shelby Consultant 2018 Shelby Systems, Inc. Other brand and product names are trademarks or registered trademarks
More informationBudget Estimator Tool & Budget Template
Budget Estimator Tool & Budget Template Integrated Refugee and Immigrant Services Created for you by a Yale School of Management student team IRIS BUDGET TOOLS 1 IRIS Budget Estimator and Budget Template
More informationQUICKBOOKS 2018 STUDENT GUIDE. Lesson 4. Banking in QuickBooks
QUICKBOOKS 2018 STUDENT GUIDE Lesson 4 Banking in QuickBooks Copyright Copyright 2018 Intuit, Inc. All rights reserved. Intuit, Inc. 5100 Spectrum Way Mississauga, ON L4W 5S2 Trademarks 2018 Intuit Inc.
More informationa) Post-closing trial balance c) Income statement d) Statement of retained earnings
Note: The formatting of financial statements is important. They follow Generally Accepted Accounting Principles (GAAP), which creates a uniformity of financial statements for analyzing. This allows for
More informationQuickBooks Integration (Enterprise)
One Blue Hill Plaza, Second Floor, PO Box 1546 Pearl River, NY 10965 1-800-PC-AMERICA, 1-800-722-6374 (Voice) 845-920-0800 (Fax) 845-920-0880 QuickBooks Integration (Enterprise) CRE/RPE now exports sales
More informationThe General Journal Definitions: Journal: Journalizing:
The General Journal Definitions: Journal: a book in which the accounting entries for all transactions are recorded first, before they are recorded in the ledger accounts. Journalizing: process of recording
More informationViive 5.2 QUICK START GUIDE MAC-VIIVE
Viive 5.2 QUICK START GUIDE 1-855-MAC-VIIVE ii Contents PUBLICATION DATE January 2016 COPYRIGHT 2016 Henry Schein, Inc. All rights reserved. No part of this publication may be reproduced, transmitted,
More informationENTERING AUTOMOBILE FRINGE IN A SEPARATE PAYROLL: EMPLOYEE PAYING TAXES
ENTERING AUTOMOBILE FRINGE IN A SEPARATE PAYROLL: EMPLOYEE PAYING TAXES When calculating automobile fringe, you have the option to do so in a payroll cycle separate from your normal payroll. If you choose
More informationGreenshades Garnishments User Guide
Greenshades Garnishments User Guide 1. 1. General Overview... 4 1.1. About this Guide... 4 1.2. How Greenshades Garnishments Works... 4 1.3. Default Deduction Setup within GP... 5 1.4. Employee Deduction
More informationDirections to our office may be obtained from our website at
Fall 2007 CTAS News & Notes Small City & Town Accounting System (CTAS) Helpline: (651) 296-6262 Fax: (651) 282-2391 Website: www.auditor.state.mn.us E-mail: ctas@auditor.state.mn.us Why did I receive this
More informationThe following Key Features describe important functions in the Account and Loan Transfer service.
Account and Loan Transfer The Account Transfer service makes moving funds between accounts secure and simple. The user will find processing Multi-Entry Transfers and defining Recurring Transfers as easy
More informationVersion Setup and User Manual. For Microsoft Dynamics 365 Business Central
Version 1.0.0.0 Setup and User Manual For Microsoft Dynamics 365 Business Central Last Update: September 6, 2018 Contents Description... 4 Features... 4 Cash Basis versus Accrual Basis Accounting... 4
More informationTotal Order Plus Integrated Accounting Series General Ledger
Total Order Plus Integrated Accounting Series General Ledger Mindware Corporation Of America Integrated ted Accounting Series Total Order Plus General Ledger User Guide Copyright 1999 by Mindware Corporation
More informationCredit Cards Friend or Foe? An exploration of credit cards and debit cards utilizing Internet resources and spreadsheets.
Credit Cards Friend or Foe? An exploration of credit cards and debit cards utilizing Internet resources and spreadsheets. Day One Investigating Credit Cards and Debit Cards The students will need access
More informationShelbyNext Financials: Credit Card Tracking
ShelbyNext Financials: Credit Card Tracking (Course #F211) Presented by: Dave Heston Shelby Consultant 2018 Shelby Systems, Inc. Other brand and product names are trademarks or registered trademarks of
More informationInvestment Tracking with Advisors Assistant
Investment Tracking with Advisors Assistant Client Marketing Systems, Inc. 880 Price Street Pismo Beach, CA 93449 800 643-4488 805 773-7985 fax www.advisorsassistant.com support@climark.com 2015 Client
More informationThird Party Transaction Services. December 2017
December 2017 Table of Contents Overview of... 0 Overview of... 2 Process Flow... 2 Adding and Accessing Loans in Loan Selling Advisor... 2 Originator Pipeline... 3 Evaluate Loans... 4 View Evaluation
More informationACS YEAR-END FREQUENTLY ASKED QUESTIONS. General Ledger
ACS YEAR-END FREQUENTLY ASKED QUESTIONS This document includes answers to frequently asked questions about the following ACS modules: General Ledger Payroll Accounts Payable Accounts Receivable General
More informationDOWNLOAD PDF GENERAL JOURNAL AND LEDGER
Chapter 1 : The General Journal and Ledger The general journal is a place to first record an entry before it gets posted to the appropriate accounts. Related Questions What is the difference between entries
More informationBank Reconciliation Processing SYSTEM ADMINISTRATION AND PROCESSING GUIDE. Last revised: 8/19/10 12:22 PM
Bank Reconciliation Processing SYSTEM ADMINISTRATION AND PROCESSING GUIDE Last revised: 8/19/10 12:22 PM New World Systems 1 CONTENTS Contents... 1 Introduction... 3 System Administrator Guide... 4 Company
More informationRESOLV CONTAINER MANAGEMENT DESKTOP
RESOLV CONTAINER MANAGEMENT DESKTOP USER MANUAL Version 9.2 for HANA Desktop PRESENTED BY ACHIEVE IT SOLUTIONS Copyright 2016 by Achieve IT Solutions These materials are subject to change without notice.
More informationWorking with Cash Advances
Working with Cash Advances VERSION: 3/27/2018 Table of Contents Understanding Cash Advances 2 Creating a Campus Voucher for Cash Advances 9 Entering University Deposits for Unspent Advances 17 Creating
More informationThe General Journal and the General Ledger
chapter College Accounting The General Journal and the General Ledger 11 th Edition 3 1 Learning Objectives After you have completed this chapter, you will be able to do the following: 3 2 The General
More informationArkansas State University Banner Finance Self-Service
Arkansas State University Banner Finance Self-Service Contents Self Service Menu... 2 Approving Documents... 3 Viewing Documents... 5 Budget Transfers... 7 Multiple-Line Budget Transfers... 9 Budget Queries...
More informationAccounting Vocabulary
Accounting Vocabulary A. Accounting: planning, recording, analyzing and interpreting financial information. Accounting Equation: an equation showing the relationship among assets, liabilities, and owner
More informationMSI Calendar and/or Fiscal Year End Processing For year ending December 31, 2013
MSI Calendar and/or Fiscal Year End Processing For year ending December 31, 2013 User s Guide NOTE: Screen shots for this document have been taken from the version 7.0 MSI Payroll system. Municipal Software,
More informationCTAS News and Notes Small City & Town Accounting System (CTAS)
Winter 2019 CTAS News and Notes Small City & Town System (CTAS) Inside this issue: CTAS 2019 Update & Tax Tables Audit Requirements 3 Account Code 5 Update CTAS Closing Procedures CTAS Year-end Processing
More informationVersion Setup and User Manual. For Microsoft Dynamics 365 Business Central
Version 1.0.1.0 Setup and User Manual For Microsoft Dynamics 365 Business Central Last Update: October 26, 2018 Contents Description... 4 Features... 4 Cash Basis versus Accrual Basis Accounting... 4 Cash
More informationSAGE 100 ERP TIPS AND TRICKS BANK RECONCILIATION Presented by Target System Technology, Inc.
SAGE 100 ERP TIPS AND TRICKS BANK RECONCILIATION Presented by Target System Technology, Inc. (copyright 2015) Sage 100 ERP Standard and Sage 100 ERP Advanced are register trademarks of Sage Software. Crystal
More informationModule 4. Instructions:
Copyright Notice. Each module of the course manual may be viewed online, saved to disk, or printed (each is composed of 10 to 15 printed pages of text) by students enrolled in the author s accounting course
More informationCounty. Quicken Accounts. Procedures Manual
County Quicken Accounts Procedures Manual Revised Spring 2013 Table of Contents Process Flow Chart............................................ Pg. 3 Operating Guidelines Acceptable Uses for County Petty
More informationBudget Preparation. 301 Tilton Road, Northfield, NJ P:
Budget Preparation Table of Contents: Creating the Budget/Revenue Preparation File Deleting the Budget/Revenue Prep File.....2 Creating the Budget Preparation.3 Creating the Revenue Preparation...4 Completing
More informationBUSINESS and FINANCE TECHNOLOGY CURRICULUM. For ACCOUNTING II. (Elective Course)
BUSINESS and FINANCE TECHNOLOGY CURRICULUM For ACCOUNTING II (Elective Course) Supports Academic Learning Objective # 3 - Students and graduates of Ledyard High School will employ problem-solving skills
More informationGraded Project Ice Cream Systems
Graded Project Ice Cream Systems PROJECT GOAL 1 PROJECT INFORMATION 1 PROJECT INSTRUCTIONS 14 SUBMITTING YOUR PROJECT 26 C o n t e n t s iii Ice Cream Systems PROJECT GOAL The goal of this graded project
More informationChapter 2: Overview. Analyzing and Recording Business Transactions
Financial Accounting 4th Edition Kemp SOLUTIONS MANUAL Full download at: Financial Accounting 4th Edition Kemp TEST BANK Full download at: https://testbankreal.com/download/financial-accounting-4th-edition-kempsolutions-manual-2/
More informationLESSON 7-1. Preparing an Income Statement. CENTURY 21 ACCOUNTING Thomson/South-Western
LESSON 7-1 Preparing an Income Statement 2 TERMS REVIEW page 186 Component Percentage the percentage relationship between one financial statement item and the total that includes that item Adequate Disclosure
More informationBusiness Intelligence (BI) Budget Reports Training Manual
Business Intelligence (BI) Budget Reports Training Manual Topic Page Initial Setup 2 BI Login 3 Running BI Reports 4 Personalization 5 Understanding Report Content 7 Basic Navigation / Toolbar Legend 13
More informationChapter 4: Posting from a General Journal to a General Ledger
Chapter 4: Posting from a General Journal to a General Ledger Goals of Chapter 4: Define accounting terms related to posting form a general journal to a general ledger Identify accounting concepts and
More informationLearning Objective. LO1 Prepare an income statement for a merchandising business organized as a corporation.
Learning Objective LO1 Prepare an income statement for a merchandising business organized as a corporation. Lesson 16-1 Uses of Financial Statements LO1 A corporation prepares an income statement and a
More informationIFS Year End Training 2017 Closing the Year
Important Facts About Closing A Year On IFS The following is a summary of important facts to know about closing a year in the Integrated Financial System. * Vouchers that are transferred to Accounts Payable
More informationChoice of superannuation fund guide
Choice of superannuation fund guide Welcome to the Choice of Superannuation Fund guide. This guide contains instructions on how to use your MYOB accounting software to meet the employer obligations introduced
More informationReconcilers & Verifiers Manual
Document Name: Procurement Card Project: PeopleSoft Financials Date Last Updated: 10/14/14 Prepared by: Jim Scull Date Developed: 08/26/04 Reconcilers & Verifiers Manual Table of Contents Department Users...
More informationLesson Thirteen Using General Journal and Banking Tasks
Lesson Thirteen Using General Journal and Banking Tasks The General Ledger is updated by each journal in Sage 50 as transactions are posted. The General Journal Entry task can be used to affect accounts
More informationCHAPTER 2: GENERAL LEDGER
Chapter 2: General Ledger CHAPTER 2: GENERAL LEDGER Objectives Introduction The objectives are: Explain the use of the Chart of Accounts in Microsoft Dynamics NAV 5.0. Explain the elements of the G/L Account
More informationMSI General Ledger Version 7.5
MSI General Ledger Version 7.5 User s Guide Harris Local Government 1860 W. Winchester Road, Ste 204 Libertyville, IL 60048 Phone: (847) 362-2803 Fax: (847) 362-3347 Contents are the exclusive property
More informationUsing the Clients & Portfolios Module in Advisor Workstation
Using the Clients & Portfolios Module in Advisor Workstation Disclaimer - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1 Overview - - - - - - - - - - - - - - - - - - - - - -
More informationINTUIT PROA DVISOR PR O G RAM. QuickBooks Desktop Certification
INTUIT PROA DVISOR PR O G RAM QuickBooks Desktop Certification Getting Started Guide Table of Contents TABLE OF CONTENTS QuickBooks ProAdvisor Training Objectives... 1 What s in the Workbook?... 2 Chapter
More informationWashington State Requirements
Washington State Requirements Release 7.0 SP3/FP5 Training/User Guide Revised: 06/23/11 2011 New World Systems Corporation. All Rights Reserved. All rights reserved. Information within this document is
More informationIt would probably be useful to illustrate a few simple transactions using double-entry accounting, and to go over key terms.
DOWNLOAD FULL SOLUTION MANUAL FOR SURVEY OF ACCOUNTING 6TH EDITION BY WARREN Link download: https://testbankservice.com/download/solution-manual-forsurvey-of-accounting-6th-edition-by-warren APPENDIX A
More informationZonta International District 15 QuickBooks Tips Fall Conference 2017
1 Objectives a Walk through QuickBooks Features b Questions and answers Zonta International District 15 QuickBooks Tips Fall Conference 2017 2 Intuit QuickBooks a Desktop Pro b 2018 supported through May
More informationQuick Reference Guide: General Budget Change
Quick Reference Guide: General Budget Change In the USC Kuali system, every type of transaction is created and submitted in the form of an electronic document referred to as an edoc. The Kuali Financial
More informationMSI Fiscal Year End Processing
MSI Fiscal Year End Processing User s Guide Harris Local Government 1860 W. Winchester Road, Ste 204 Libertyville, IL 60048 Phone: (847) 362-2803 Contents are the exclusive property of Harris Local Government
More informationBixby Public Schools Essential Elements Grade: 10-12
Course: Accounting Essential Elements Grade: 10-12 Weeks 1-6 Chapter 1 describes how a proprietorship is started & the transactions that occur when the business is organized. The accounting equation is
More informationAccounting Glossary 1. an equation showing the relationship among assets, liabilities, and
Accounting Glossary 1 GLOSSARY A Account a record summarizing all the information pertaining to a single item in the accounting equation. (p. 10) Account balance the amount in an account. (p. 10) Account
More informationLesson 8 Vendors and Expenses Part 2
Q U IC K BOOKS 2017 STUDEN T GUIDE Lesson 8 Vendors and Expenses Part 2 Copyright Copyright 2017 Intuit, Inc. All rights reserved. Intuit, Inc. 5100 Spectrum Way Mississauga, ON L4W 5S2 Trademarks 2017
More informationChurch Accounting Icon Systems Inc.
IconCMO Church Software by Icon Systems Inc. All rights reserved. No parts of this work may be reproduced in any form or by any means - graphic, electronic, or mechanical, including photocopying, recording,
More informationAccounting 1. Lesson Plan. Topic: Distributing Dividends and Preparing a Work Sheet for a Unit: 4 Chapter 26 Corporation
Accounting 1 Lesson Plan Name: Terry Wilhelmi Day/Date: Topic: Distributing Dividends and Preparing a Work Sheet for a Unit: 4 Chapter 26 Corporation I. Objective(s): By the end of today s lesson, the
More informationCitiDirect WorldLink Payment Services
CitiDirect WorldLink Payment Services User Guide June 2009 3 Contents Overview 2 Additional Resources 2 Basics Guides 2 Online Help 2 CitiDirect Customer Support 2 Sign on to CitiDirect Online Banking
More informationLESSON 2-1. Departmental Sales on Account and Sales Returns and Allowances. CENTURY 21 ACCOUNTING 2009 South-Western, Cengage Learning
LESSON 2-1 Departmental Sales on Account and Sales Returns and Allowances 2 Departmental Sales on Account Sales on account are recorded by department in order to help management make decisions Sales on
More informationEnhanced General Ledger Quick Steps version 8.016
Enhanced General Ledger Quick Steps version 8.016 The General Ledger module is designed to handle journal entries for various transactions that are not accounted for in other modules (A/P, Payroll etc.).
More informationLearning Objectives. LO1 Journalize and post closing entries for a service business organized as a proprietorship.
Learning Objectives LO1 Journalize and post closing entries for a service business organized as a proprietorship. Lesson 8-1 Need for Permanent and Temporary Accounts Accounts used to accumulate information
More informationChapter 1: Spending money 114. Chapter 2: Spending Money using the Spend Money window 118. Chapter 3: Spending Money using the Bank Register 121
Table of Contents Chapter 1: Spending money 11 Creating Spend Money transactions using the Spend Money window 11 Creating Spend Money transactions using the Bank Register 116 Finding and changing Spend
More informationLESSON Posting to an Accounts Payable Ledger. CENTURY 21 ACCOUNTING Thomson/South-Western
LESSON - Posting to an Accounts Payable Ledger 2 Posting to an Accounts Payable Ledger There are two (2) major differences between the posting learned in this chapter (corporation) and the posting learned
More informationCHAPTER 7 REPORTS AND GRAPHS
CHAPTER 7 REPORTS AND GRAPHS SCENARIO I need an income tax summary report ASAP Mr. Castle barks as he races past your cubicle. In a few seconds he charges past your cubicle again. Don t forget to adjust
More informationRelease Please distribute to all Spectra users in your company.
Release 8.2.0 DECEMBER 2018 Please distribute to all Spectra users in your company. Support Email: support@spectra.ca Visit us online at: www.spectra.ca Support Telephone: (866) 718-2345 Support Fax: (866)
More informationHere are some special notes and rules good to know before you proceed: NOTE: In the new year you can edit or update any GL Codes if necessary.
CLOSE YEAR PREREQUISITES In order to ensure a smooth transition of closing your fiscal year to opening a new, Pentagon 2000 Software has recommended prerequisites to accommodate your accounting practices
More informationThe SchoolMoney User Guide
The SchoolMoney User Guide This user guide will take you through all of the basic functions of SchoolMoney including; setting up a payment, sending texts out to parents, and managing the payments. Anything
More informationQuickBooks Company File Setup and Introduction to Customizing QuickBooks
QuickBooks Company File Setup and Introduction to Customizing QuickBooks Contents Welcome and Orientation... 2 Set up the QuickBooks File for Use... 3 Plan Your Customer and Vendor Lists... 4 Customer:Job
More informationHow to Journalize using Data Entry
Steps Essential to Success 1. Print a copy of the Problem you intend to complete. To do so, go to the software log-in page and click on Download Student Manual button, click on the Problem to open it.
More informationWeek 5, Chap 4 Part 1
Slide 1 Week 5, Chap 4 Part 1 The General Journal and the General Ledger Instructor: Michael Booth Slide 2 The General Journal and the General Ledger The General Journal Section Objectives 1. Record transactions
More informationQuickBooks Advanced. Basic Reports. For most reports use the Report Center button. That will lead to a screen like this:
QuickBooks Advanced Basic Reports For most reports use the Report Center button. That will lead to a screen like this: There are a ton of report options, but there are really only 3 that you need: Profit
More informationTAA Scheduling. User s Guide
TAA Scheduling User s Guide While every attempt is made to ensure both accuracy and completeness of information included in this document, errors can occur, and updates or improvements may be implemented
More informationDEBITS AND CREDITS: ANALYZING AND RECORDING BUSINESS TRANSACTIONS
DEBITS AND CREDITS: ANALYZING AND RECORDING BUSINESS TRANSACTIONS 2-1 Chapter 2 Learning Objectives 1. Setting up and organizing a chart of accounts. 2. Recording transactions in T accounts according to
More informationChapter 3 Question Review 1
Chapter 3 Question Review 1 Chapter 3 Questions Multiple Choice 1. If services are rendered on account, then a. assets will decrease. b. liabilities will increase. c. stockholders equity will increase.
More informationCorrespondent XChange SM Functionality Manual. April 2019
SM Functionality Manual April 2019 Table of Contents Overview of SM... 2 Third Party Process Flow for the... 2 Originator Pipeline, Navigation and Functions... 2 Create and Access Loans in Loan Selling
More informationBookkeeping (Explanation)
Bookkeeping (Explanation) 1. Part 1 Introduction; Bookkeeping: Past and Present 2. Part 2 Accrual Method 3. Part 3 Double-Entry, Debits and Credits 4. Part 4 General Ledger Accounts 5. Part 5 Debits and
More informationBank of Sun Prairie. Switch Kit A SIMPLE STEP-BY-STEP GUIDE TO SWITCHING BANKS. Member FDIC
Bank of Sun Prairie Switch Kit A SIMPLE STEP-BY-STEP GUIDE TO SWITCHING BANKS Welcome to the Bank of Sun Prairie! We want to make your move to our bank as easy as possible. Our Switch Kit contains everything
More informationCOBRA Premium Subsidy Guide for QuickBooks
COBRA Premium Subsidy Guide for QuickBooks Beginning January 1, 2014, the IRS implemented a new process for claiming credits for COBRA premium assistance supported under the provisions of the American
More informationClassic General Ledger Year-End Checklist 2016
Classic General Ledger Year-End Checklist 2016 Table of Contents Classic General Ledger Year-End Checklist - 2016... 1 Welcome back!... 1 Need more help?... 1 Check Data Integrity, Run Checkout and Backup
More informationLedger Budgeting Building Publishing - Revising
Ledger Budgeting Building Publishing - Revising Introduction School budget information can be entered and managed through PCSchool. Budgets can either be entered and adjusted manually, or imported via
More informationHow to Run The Month End
How to Run The Month End Sage Accounts has been designed to make your month end procedure as smooth and trouble free as possible. The Month End routine is an optional procedure which groups together routines
More information