Chapter 10: Maintaining Accounting Records for Service Businesses

Transcription

1 Chapter 10: Maintaining Accunting Recrds fr Service Businesses McGraw-Hill/Irwin Cpyright 2013 by The McGraw-Hill Cmpanies, Inc. All rights reserved.

2 Service Business Recrds In Chapter 10, yu cntinue the wrk started in Chapter 9. Yu cmplete the cmputer accunting cycle fr the mnth f Octber using yur client's transactin register and bank statement as surce dcuments. Surce dcuments are used t shw written evidence f a business transactin. Fr Mark Fltz Designer, the surce dcuments used are his transactin register and bank statement. The transactin register shws Mr. Fltz s checking accunt activity. 10-2

3 Peachtree Tips Chapters 9, 10 and 11 are cumulative. The Mark Fltz Designer service business set up in Chapter 9 is cntinued in Chapters 10 and 11. The cmpany set up in Exercise 9-1, Design by yur first and last name, is cntinued in Exercises 9-2, 10-1, 10-2, 11-1, and

4 Backing Up Chapter 10 In the textbk, detailed steps are shwn fr backing up t a USB drive. The chart belw, and n textbk pages , shws the size f the backup files, Excel files, and PDF files. Yu may als backup t a hard drive lcatin. Backup Name (.ptb) Excel (.xlsx) Kilbytes Page Ns. Chapter 10 Transactin Register Octber.ptb 977 KB Chapter 10 Octber.ptb 995 KB 351 Chapter 10_Octber Trial Balance and Financial Statements.xlsx 21 KB Chapter 10_Octber Trial Balance.pdf 7 KB 353 Chapter 10_Octber Balance Sheet.pdf 5 KB 353 Chapter 10_Octber Incme Statement.pdf 5 KB 353 Exercise 10-1.ptb 949 KB 356 Exercise 10-2.ptb 953 KB

5 Backing Up Chapter 10 (cncluded) Backup Name (.ptb) Excel (.xlsx) Kilbytes Page Ns. Exercise 10-2_Octber Trial Balance and Financial Statements.xlsx 20 KB 358 Exercise 10-2_Octber Trial Balance.pdf 37 KB 358 Exercise 10-2_Octber Balance sheet.pdf 8 KB 358 Exercise 10-2_Octber Incme Statement.pdf 9 KB

6 Maintain Glbal Optins, steps 1-3, p. 330 Frm the menu bar, click n Optins, Glbal. Make sure the bx next t Recalculate cash balance autmatically in Receipts, Payments, and Payrll Entry has a check mark next t it. Click <OK>. When yu use Receipts and Write Checks, make sure that the Cash accunt balance agrees with the textbk s transactin register balance. Refer t the transactin register n pages The Write Checks windw shws the Octber 2 Cash accunt balance. 10-6

7 Editing Jurnal Entries, p. 346 Click n Tasks, then Receipts. Click n the icn. Duble-click the depsit yu want t edit. Make any necessary changes, then click n Save t pst. Editing Write Checks wrks similarly. 10-7

8 Glssary f Terms Chapter

9 Surce Dcuments, p. 327 Surce dcuments are used t shw written evidence a business transactin. Fr Mark Fltz Designer, the surce dcuments used are his transactin register and bank statement. 10-9

10 Transactin Register, p. 327 The transactin register shws checking accunt activity

11 Bank recnciliatin, p 341 Peachtree s Accunt Recnciliatin feature allws yu t adjust Mr. Fltz s bank statement. Bank recnciliatin is the prcess f bringing the balance f the bank statement and the balance f the cash accunt int agreement

12 Ging t the Net, p. 354 Access the Peachtree Quantum website at Answer the fllwing. 1. List nine Peachtree Quantum strengths. 2. Explain the Peachtree Quantum features that are industry specific. (Select the My Industry tab. The URL is

13 Analysis Questin, p. 358 What is accunt recnciliatin? Peachtree recnciles the selected G/L accunt against yur mnthly statement. Yu can recncile any general ledger accunt in Peachtree. Typically, yu wuld recncile bank accunts, cash accunts (such as petty cash), and credit card accunts. Yu shuld systematically recncile accunts each perid s that yu can quickly detect bank errrs, match real-wrld data with Peachtree data, and identify pssible fraudulent activity. The Accunt Recnciliatin feature allws yu t adjust the bank statement. Anther name fr this is bank recnciliatin the prcess f bringing the balance f the bank statement and the balance f the cash accunt int agreement. The Accunt Recnciliatin feature applies t ther accunts, t

14 Assessment Rubric, p. 359 Task Date Navigatin Center Windw Jurnal Dr. and Cr. ATM (Exercise 10-1) 10/2/12 Banking; Write Checks, New Check Write Checks Cash Disbursements Jurnal Dr. Acct. N. 3930, Student Name, Draw, $100. Cr. Acct. N. 1020, Midwest Bank, $100. Depsit (Exercise 10-1) 10/8/12 Tasks; Receipts Receipts Cash Receipts Jurnal Dr. Acct. N. 1020, Midwest Bank, $2,105 Cr. Acct. N. 4000, Teaching Incme, $2,

15 Online Learning Center G nline t fr additinal resurces. Link t Student Editin, select Chapter 10. Interactive Testing Glssary f Terms Feature Quizzes Flash Vides: Demnstratin f recrding checks and depsits. PwerPints Assessment Rubric Ging t the Net QA Templates 10-15