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Glossary
Quickbooks®
A financial software created by Intuit® used to increase profitability – www. Quickbooks.com
Quickbooks® Training
An extensive training on all aspects of the Quickbooks® accounting software from data entry, structure, and reporting.
Quickbooks® Setup and Accounting Structure
Setting up the financial structure of your business in the financial software specific to your business industry to ensure the reporting and monitoring help with productivity of your business in your industry.
Quickbooks® Integration and Online Banking
Setting up and integrating various templates, mail lists and/or your online banking to be imported directly into Quickbooks® for your financial accounting.
Accounts Payable
An accounting of all payables, including bill entry, invoice tracking, check writing, open outstanding bills.
Accounts Receivable
An accounting of all customer invoicing, including payments received invoices against, along with past due customer statements through collection.
Chart of Accounts
A listing of all tax line items tying to financial reporting.
General Ledger
A detailed listing of all posting activity.
Full-Charge Bookkeeper
Someone who has taken educational classes in order to be certified in accounting through General Ledger, Balance Sheet and Profit and Loss.
Bank Account Reconciliations
Checks and balances on credits in and debits out to match to monthly bank statements.
Credit Card Reconciliations
Data entry of line items of credit card either manually by import, balances against credit card statement for accuracy to receipts and possible duplication.
Payroll and Payroll Taxes
The processing of your employees payroll checks and tax deduction tracking along with employer payroll tax portions in order to process, report, and pay monthly, quarterly, and annual payroll taxes.
Balance Sheet
A financial report indicating all the company’s assets and liabilities.
Profit and Loss
A financial report showing all income versus all the expenses for a given period of time to show net income for that period.
Statement of Cash Flows
A financial report indicating the cash out and deposits in for a given period of time.
Budgets and Forecast
Financial reports to help with productivity and financial trends of the company to compare actual spending versus expectations.
Inventory and Service Item Structure
Item list organization that ties to the Invoices and Purchase Orders for products bought and sold or for services provided.
Inventory Control
Ability to see what you have in stock or on order. You can run reports based on best selling line items to help monitor inventory.
Collections
The act of following up on outstanding customer balances before they get too delinquent. The process usually starts with statements, then telephone calls, then letters. May need to be sent out for more strict legal action.
Sales Tax Reports
Reporting of sales tax based on sales in and out of the state of California depending on item or product for payment to Government.
Asset Tracking
Tracks assets purchased by the business for depreciation and amortization of the asset. Shows up on the Balance Sheet as part of the company net worth
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