QuickBooks Pro 2001 and QuickBooks 2001

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1 Using Computerized Accounting with QUICKBOOKS PRO 2000 by Kathleen Villani and James B. Rosa with QuickBooks Pro 2001 and QuickBooks 2001 Contents Introduction What's New in QuickBooks Pro 2001 The Program's Opening Windows Updating Company Files to QuickBooks Pro Update: No Company Opened Dialog Box 2001 Update: Backup and Restore 2001 Update: Changing List and Activities Windows Sizes 2001 Update: Pay Bills Assign Check Number (Chapter 2) 2001 Update: Customer:Job List New/Edit Customer (Chapter 3) 2001 Update: New Company Setup (Chapters 6, 7, and 8) 2001 Update: Payroll (Chapters 9 and 11) 2001 Update: Reports Comparison of Main Menu Bars: 2000 vs Comparison of Pull-Down Menus: 2000 vs Comparison of List and Activities Windows: 2000 vs. 2001

2 INTRODUCTION In Computerized Accounting with QuickBooks Pro 2000 you learn how to operate QuickBooks Pro by entering common daily business events in the Activity windows using sample companies. You also learn the behind-the-scenes accounting that QuickBooks Pro is recording. You can achieve these same goals using our book with QuickBooks Pro 2001 and QuickBooks The majority of revisions included in QuickBooks Pro 2001 were made to managerial functions such as ing and faxing invoices and estimates, printing batch reports, updating payroll tax information, using the Internet, and so on, all of which are beyond the scope of this text. The concepts presented in the book are illustrated using the various List and Activities windows in QuickBooks Pro that are accessed using the Main Menu bar. There are virtually no differences in the List or Activities windows between the two versions of QuickBooks Pro. There are some differences in the default user interface. In QuickBooks Pro 2000, the software provides pictorial representations called Navigators and the Navigation bar that are alternatives to the Main Menu bar that you can use to access the List and Activities windows. In the text, you are instructed to close the Navigators and Navigation bar and use only the Main Menu bar. The reason for doing this is to make more screen space available for you and to concentrate on one method of accessing the necessary windows. As you become more familiar with the software, you can access these alternative pictorial displays if you desire. In QuickBooks Pro 2001, the main window, by default, displays the Company Navigator, a new Icon bar, and a new Open Windows List. You should close these alternative approaches to again free up more screen space and concentrate on using only the Main Menu bar to access the List and Activities windows. Once these alternative bars/windows are closed, the main program window will continue to match those displayed in the book. All choices on the pull-down menus illustrated in the text continue to be included in the pulldown menus in QuickBooks Pro There are a few additional choices, such as those for accessing the Navigator windows, on the pull-down menus, but there are no significant differences that affect the concepts presented in the text. Overall, the revisions in QuickBooks Pro 2001 have a minimal effect on the concepts presented in the text. The changes to note include: opening a sample company file in QuickBooks Pro 2001 the file will be automatically updated and can no longer be accessed in QuickBooks Pro 2000; backing up and restoring a company file there is one additional dialog box; minor differences in New Company Setup; an additional step must be taken to enter payroll taxes and withholdings manually when doing payroll; and the choices to customize, filter, or format a report have been consolidated into one dialog box with several tabs. These changes in the new version are summarized on the next page of this supplement. This supplement also includes a comparison of the pull-down menus and the List and Activities windows for both versions for you to compare and see the minor differences. In addition, the additional steps necessary to update the company file to the new version; backup and restore a company file; process setup and payroll; and access customizing features in the reports are illustrated. Villani/Rosa QuickBooks Pro 2001 Update Page 2

3 WHAT'S NEW IN QUICKBOOKS PRO In QuickBooks Pro 2001, the default opening screen has the new Icon bar, new Open Windows List, New Features window, and Company Navigator visible.! if you close all four, the screen will match the text! see steps to close all 2. Main Menu bar has new menu title: View! use to view or remove new Icon bar and new Open Windows List! use to change Lists and Activities window default size 3. Pull-down menus have minor additions, such as the Navigator choice! no affect on text! see pictures of pull-down menus and compare 4. When you open a company file in QuickBooks Pro 2001, the file will be updated! can no longer use the company file with QuickBooks Pro 2000! see steps to Update the file to the new version 5. Backup and Restore steps include an additional window! see steps for backup and restore 6. List and Activities windows are maximized by default, but otherwise the same! the Enter Cash Sales window is now called the Enter Sales Receipts window! see steps to set default window size 7. For New Company Setup (chapters 6, 7, and 8)! there are some minor differences! see list of differences 8. For Payroll (chapters 9 and 11), some additional steps must be taken to enter tax withholdings manually! see steps to manually enter payroll withholdings 9. Command line buttons in Reports have been consolidated! see steps to access reports button Villani/Rosa QuickBooks Pro 2001 Update Page 3

When you install QuickBooks Pro 2001 and open a company file the first time the following screen appears.

4 THE PROGRAM'S OPENING WINDOWS When you install QuickBooks Pro 2000 and open a company file the first time the following screen appears. Navigation Bar You can hide the Navigation bar by clicking Window and then click Hide Navigation Bar (p. 10 of text). When you install QuickBooks Pro 2001 and open a company file the first time the following screen appears. New Icon Bar New Open Windows List Close the New Features window by clicking the X. The Company Navigator window is displayed. Close the Company Navigator window by clicking on the X (similar to QuickBooks Pro 2000, p.194 of text.) Villani/Rosa QuickBooks Pro 2001 Update Page 4

The Company Navigator window will appear by default every time you open QuickBooks Pro 2001. To disable the Company Navigator default display: 1. Click Edit, then click Preferences. 2. Click the Desktop View icon.

5 The Company Navigator window will appear by default every time you open QuickBooks Pro To disable the Company Navigator default display: 1. Click Edit, then click Preferences. 2. Click the Desktop View icon. 3. On the My Preferences tab, in the Navigators field, remove the checkmark from Show Company Navigator when opening a company file. The Open Windows List is new in QuickBooks Pro Close the Open Windows List by clicking on the X. Click Yes at the warning. To make the Open Windows List reappear: 1. Click View. 2. Click Open Window List. The Navigation bar in QuickBooks Pro 2000 is called the Shortcuts List in QuickBooks Pro It does not appear by default. To view the Shortcuts List: 1. Click View. 2. Click Shortcut List. (In QuickBooks Pro 2000, the Windows menu was used to view the Navigation bar.) The Icon bar is new in QuickBooks Pro To remove or bring back the Icon bar: 1. Click View 2. Click Icon Bar. UPDATING COMPANY FILES TO QUICKBOOKS PRO 2001 See page 9 of the text for instructions to open CH1 Kristin Raina Interior Designs. If you open a company file from the CD that comes with the textbook in QuickBooks Pro 2001, you will see the Update File to New Version dialog box. Key YES and then click OK. Click OK at the QuickBooks Information message box. You will then see the Back Up Company File dialog box. Villani/Rosa QuickBooks Pro 2001 Update Page 5

Click Back Up. You will receive two warnings. One warning is about backing up onto your hard drive, the other warning is about multiple users. Click Yes at both warnings.

6 Click Back Up. You will receive two warnings. One warning is about backing up onto your hard drive, the other warning is about multiple users. Click Yes at both warnings. The company file will open and the new Icon bar, What s New window, Open Windows List, and Company Navigator window will appear. Close all these items as indicated above. If you receive a message regarding Payroll options, click Cancel. Once you update a company file to QuickBooks Pro 2001, you can no longer open the file in QuickBooks Pro Villani/Rosa QuickBooks Pro 2001 Update Page 6

NO COMPANY OPENED DIALOG BOX Once you open QuickBooks Pro 2001, if you click File, then Open Company, and then click Cancel, a new dialog box appears in QuickBooks Pro 2001: No

BACKUP AND RESTORE In QuickBooks Pro 2001, there is an additional dialog box that appears when using the Back Up and/or Restore commands.

7 NO COMPANY OPENED DIALOG BOX Once you open QuickBooks Pro 2001, if you click File, then Open Company, and then click Cancel, a new dialog box appears in QuickBooks Pro 2001: No Company Opened. Click Browse and the Open Company dialog box, similar to the one used in QuickBooks Pro 2000, appears. BACKUP AND RESTORE In QuickBooks Pro 2001, there is an additional dialog box that appears when using the Back Up and/or Restore commands. To make a backup copy of the CH1 Kristin Raina Interior Designs company file 1. Click File, and then click Back Up. Click No at the message box. 2. The Back Up Company File dialog box appears (this is new in QuickBooks Pro 2001). Villani/Rosa QuickBooks Pro 2001 Update Page 7

3. Click the Change button. The Back Up Company to dialog box appears. (This is the same as in QuickBooks Pro 2000.) 4. Continue with step 2 on page 12 of the text.

8 3. Click the Change button. The Back Up Company to dialog box appears. (This is the same as in QuickBooks Pro 2000.) 4. Continue with step 2 on page 12 of the text. To restore the backup copy of the company file 1. Click File, and then click Restore. 2. The Restore Company Backup dialog box appears (this is new in QuickBooks Pro 2001). 3. Click the top Change button. The Restore From dialog box appears. (This is the same as QuickBooks Pro 2000.) Follow steps 2, 3, and 4 on page 13 of the text. 4. You are returned to the Restore Company Backup dialog box. Click the bottom Change button. The Restore To dialog box appears. (This is the same as QuickBooks Pro 2000.) Follow steps 5, 6, 7, and 8 on pages 13 and 14 of the text. CHANGING LIST AND ACTIVITIES WINDOWS SIZES In QuickBooks Pro 2001 the List and Activities windows are maximized by default. To display the windows smaller by default (as displayed in the text) 1. Click View. 2. Click Multiple Windows. To return the display of the windows to maximized by default 1. Click View. 2. Click One Window. Villani/Rosa QuickBooks Pro 2001 Update Page 8

PAY BILLS ASSIGN CHECK NUMBER (CHAPTER 2) In the Pay Bills window, illustrated in chapter 2, the follow changes should be noted when using QuickBooks Pro 2001 1.

In QuickBooks Pro 2000, in the text, the check mark was removed from the To be printed box.

9 PAY BILLS ASSIGN CHECK NUMBER (CHAPTER 2) In the Pay Bills window, illustrated in chapter 2, the follow changes should be noted when using QuickBooks Pro The Payment Date field is now in the lower right corner of the window. 2. The Pay by field is now labeled Payment Method. 3. In QuickBooks Pro 2000, in the text, the check mark was removed from the To be printed box. This resulted in QuickBooks Pro assigning a number 1 to the first check, and continuing with the sequence thereafter. In QuickBooks Pro 2001, in addition to the To be printed option, there is an option to assign a check number. You must choose this option to deselect the To be printed option. When you choose the Assign a check number option, and then choose Pay & Close, a new dialog box appears where you indicate the check number. Follow steps 1 4 on page 37 of the text to pay a bill. For step 5, in the Payment Method field, click the option Assign check no. Continue with step 6 to pay or write a check to Nordic Realty. When you click Pay & Close, the Assign Check Numbers dialog box appears. To begin assigning check numbers, click the "Assign the appropriate check number next to each bill payment check" option. Assign the appropriate check number next to each bill payment check, then move to the Check No. field and key 1. When you click OK, you will exit the Assign Check Numbers dialog box and the Pay Bills window. Each time you click Pay & Close in this window, the Assign Check Numbers dialog box appears. After assigning the first check number, you can use the procedure above and indicate the check number each time, or you Villani/Rosa QuickBooks Pro 2001 Update Page 9

can choose the option Automatically assign based on next check number for this bank, and QuickBooks Pro will automatically assign the next

When you move to the Write Checks window and remove the check mark from the To be printed box, QuickBooks Pro automatically assigns the

are three tabs: Address Info, Additional Info, and Job Info.

10 can choose the option Automatically assign based on next check number for this bank, and QuickBooks Pro will automatically assign the next check number. When you move to the Write Checks window and remove the check mark from the To be printed box, QuickBooks Pro automatically assigns the next check number. CUSTOMER:JOB LIST NEW/EDIT CUSTOMER (CHAPTER 3) In QuickBooks Pro 2000, in the New or Edit windows of the Customer:Job List, there are three tabs: Address Info, Additional Info, and Job Info. However, in QuickBooks Pro 2001, in the New or Edit windows of the Customer:Job List, there are four tabs: Address Info, Additional Info, Payment Info, and Job Info. The information originally recorded on the Additional Info tab is now recorded on two tabs: Additional Info and Payment Info. Villani/Rosa QuickBooks Pro 2001 Update Page 10

11 NEW COMPANY SETUP (CHAPTERS 6, 7, AND 8) In QuickBooks Pro 2001, there are a few minor changes in the New Company Setup operation 1. The Company Information window in both EasyStep Interview and Skip EasyStep methods now includes additional fields for telephone and fax numbers. 2. When you create a new company, the New Features window, Company Navigator window, Open Windows List, and new Icon bar appear in that company. Close all of these as instructed above. 3. In QuickBooks Pro 2001, with both the EasyStep Interview and Skip EasyStep methods, the Payroll Liabilities and Payroll Expenses accounts are automatically created, even if you turned off the payroll option in the EasyStep Interview method. As a result, in chapter 6, you will see these accounts listed in some of the windows. 4. The Preferences window now includes 16 icons in the left frame. Previously there were 13 icons. 5. In QuickBooks Pro 2000 the Reminders window appears by default. In QuickBooks Pro 2001, it does not. PAYROLL (CHAPTERS 9 AND 11) When using QuickBooks Pro 2001 to do chapter 9, where payroll setup is illustrated, a message appears asking if you want help setting up payroll whenever you add an employee or set up a payroll item. Click No. In QuickBooks Pro 2001, there are very few items on the Payroll Item List by default. Salary must be added to the Payroll Item List. To add Salary to the Payroll Item List 1. Click Lists, click Payroll Item List, and then click New. At the message "Would you like help setting up payroll in QuickBooks?" click No. The Add new payroll item window Select setup method page appears. Villani/Rosa QuickBooks Pro 2001 Update Page 11

2. Click Custom Setup and then click Next.

Accept the defaults Salary Wages and Regular Pay and

12 2. Click Custom Setup and then click Next. The Payroll item type page appears. 3. Click Wage (Hourly, Salary), and then click Next. The Wages page appears. 4. Accept the defaults Salary Wages and Regular Pay and click Next. The Name used in paychecks and payroll reports page appears. Villani/Rosa QuickBooks Pro 2001 Update Page 12

In order to enter payroll withholdings and taxes manually in QuickBooks Pro 2001, you must take additional steps besides those spelled out in the book.

13 5. Key Salary and then click Next. The Expense account page appears. 6. Click 6565 Salary and Wages from the drop-down list, and then click Finish. Proceed with page 320 of the text, Adding a Payroll Item. In the Practice Exercise, when you add Hourly Wages, it will be applied correctly to all the taxes and withholdings. In order to enter payroll withholdings and taxes manually in QuickBooks Pro 2001, you must take additional steps besides those spelled out in the book. To enter payroll withholdings and taxes manually 1. Click Employees, then click Pay Employees, then click OK at the QuickBooks Payroll Service message. The Payroll Setup window appears. Villani/Rosa QuickBooks Pro 2001 Update Page 13

14 2. Click Continue. The Payroll Setup window appears. In the Basic Payroll section, click Learn More About Basic Payroll. 3. At the Basic Payroll page, scroll down until you see the message I choose to manually calculate payroll taxes. 4. Click I choose to manually calculate payroll taxes. You are returned to the original Payroll Setup window. Click Finish Later. You will now be able to follow the procedures for payroll in the text. For the problem in chapter 11, the payroll has already been set up. But to enter payroll withholdings and taxes manually, click Employees, and then click Pay Employees. The Payroll Setup window appears. In the Basic Payroll section, double-click Learn More About Basic Payroll. Villani/Rosa QuickBooks Pro 2001 Update Page 14

At the Basic Payroll page, scroll down until you see the message I choose to manually calculate payroll taxes. Click I choose to manually calculate payroll taxes.

15 At the Basic Payroll page, scroll down until you see the message I choose to manually calculate payroll taxes. Click I choose to manually calculate payroll taxes. You are returned to the original Payroll Setup window. Click Finish Later. You will now be able to follow the procedures in chapter 11. REPORTS There are four differences to be aware of when viewing any of the reports in QuickBooks Pro In some reports the order of the field headings have been rearranged. 2. The primary change in each report of QuickBooks Pro 2001 is in the command line. The buttons of Customize, Filters, and Format in QuickBooks Pro 2000 have been combined into one button called Modify Report in QuickBooks Pro Compare the command line in the reports below. In QuickBooks Pro 2000, there are Customize, Filters, and Format buttons. In QuickBooks Pro 2001, there is a Modify Report button. Villani/Rosa QuickBooks Pro 2001 Update Page 15

The information on the Display tab in QuickBooks Pro 2001 is equivalent to what you see when you click the Customize button in QuickBooks Pro 2000.

16 If you click the Modify Report button, the following dialog box appears which includes four tabs. These tabs Display, Filters, Header/Footer, and Fonts & Numbers provide the same information and options displayed when you click the Customize, Filters, and Format buttons in QuickBooks Pro The information on the Display tab in QuickBooks Pro 2001 is equivalent to what you see when you click the Customize button in QuickBooks Pro The information on the Filters tab is equivalent to what you see when you click the Filters button. The information on the Fonts & Numbers tab is equivalent to what you see when you click the Format button. The information on the Header/Footer tab is equivalent to what you see when you click the Header/Footer button on the Format dialog box. Villani/Rosa QuickBooks Pro 2001 Update Page 16

3. In QuickBooks Pro 2000, by default only the date prepared appeared in the upper left-hand corner of all reports. In QuickBooks Pro 2001, by default the date, time, and accounting method appear.

These procedures also apply to changing the time and accounting method. Click the Modify command button, and then click the Header/Footer tab. 4.

17 3. In QuickBooks Pro 2000, by default only the date prepared appeared in the upper left-hand corner of all reports. In QuickBooks Pro 2001, by default the date, time, and accounting method appear. " On all reports, chapters 1 11, the default date was removed from the printouts reproduced in the text. " In chapter 12, the procedures to change or remove the date prepared are presented. These procedures also apply to changing the time and accounting method. Click the Modify command button, and then click the Header/Footer tab. 4. When closing a report, by default, a dialog box appears asking if you wish to memorize the report. (Memorizing reports is covered in chapter 12.) Check the box "Do not display this message in the future," and then click No. COMPARISON OF MAIN MENU BARS: 2000 VS Main Menu bar in QuickBooks Pro 2000: Main Menu bar in QuickBooks Pro 2001: The only new menu is View, which is used to view or hide the Icon bar, Shortcut List, or Open Window List as illustrated above. Villani/Rosa QuickBooks Pro 2001 Update Page 17

18 COMPARISON OF PULL-DOWN MENUS: 2000 VS QuickBooks Pro 2000 QuickBooks Pro 2001 File Menu Edit Menu Villani/Rosa QuickBooks Pro 2001 Update Page 18

19 Company Menu Customers Menu Villani/Rosa QuickBooks Pro 2001 Update Page 19

20 Vendors Menu Employees Menu Banking Menu Villani/Rosa QuickBooks Pro 2001 Update Page 20

21 Reports Menu Window Menu View Menu Villani/Rosa QuickBooks Pro 2001 Update Page 21

22 Help Menu Villani/Rosa QuickBooks Pro 2001 Update Page 22

23 COMPARISON OF LIST AND ACTIVITIES WINDOWS: 2000 VS VENDORS (chapter 2): Vendor List Enter Bills Window Note: If you are using QuickBooks Pro 2001, be sure the Bill Received field is checked. Villani/Rosa QuickBooks Pro 2001 Update Page 23

24 Pay Bills Window Write Checks Window Villani/Rosa QuickBooks Pro 2001 Update Page 24

25 CUSTOMERS (chapter 3): Customer:Job List Item List Create Invoices Window Villani/Rosa QuickBooks Pro 2001 Update Page 25

26 Receive Payments Window Enter Cash Sales Window(2000)/Enter Sales Receipts Window(2001) Note: QuickBooks Pro 2000 calls this window Enter Cash Sales. QuickBooks Pro 2001 calls this window Enter Sales Receipts. Villani/Rosa QuickBooks Pro 2001 Update Page 26

27 Make Deposits Window GENERAL JOURNAL ENTRY (chapter 4): General Journal Entry Window Villani/Rosa QuickBooks Pro 2001 Update Page 27

28 INVENTORY (chapter 5): Item List Create Invoices Window Enter Bills Window Villani/Rosa QuickBooks Pro 2001 Update Page 28

29 Adjust Quantity/Value on Hand PAYROLL (chapter 9): Payroll Item List Employee List Villani/Rosa QuickBooks Pro 2001 Update Page 29

30 Pay Employees Window Preview Paycheck Window Pay Liabilities Window Villani/Rosa QuickBooks Pro 2001 Update Page 30

31 BANKING (chapter 10): Transfer Funds Window Reconcile Window Enter Credit Card Charges Window Villani/Rosa QuickBooks Pro 2001 Update Page 31

32 JOBS (chapter 11): Weekly Timesheet Villani/Rosa QuickBooks Pro 2001 Update Page 32

QUICKBOOKS PRO 2008 AN INTRODUCTION TO QUICKBOOKS PRO

QUICKBOOKS PRO 2008 AN INTRODUCTION TO QUICKBOOKS PRO Opening a Company Database 1. To change the open company in QuickBooks, click File on the main menu and select Open or Restore Company. When the next