Book Image

Mastering QuickBooks 2022 - Third Edition

By : Crystalynn Shelton
Book Image

Mastering QuickBooks 2022 - Third Edition

By: Crystalynn Shelton

Overview of this book

Whether you have bookkeeping experience or not, handling the financial side of your growing business requires expertise. With Mastering QuickBooks® 2022, Third Edition, you’ll learn how to use QuickBooks® to build the perfect budget, simplify tax return preparation, manage inventory, track job costs, generate income statements and financial reports, and perform all accounting-related tasks with ease. Throughout the book, you’ll be guided by an experienced Certified Public Accountant and Advanced Certified QuickBooks ProAdvisor – from setup to core features and beyond. This new edition has every chapter revised to cover a range of new features and updates available, including smart invoicing and cash flow projections. You'll learn how to create multilingual invoices, track mileage, work with a cash flow dashboard that helps you with cash forecasting and planning reports, and upload batches of bills and checks. This book will also teach you how to manage sales tax, including how to set up, collect, track, pay, and report sales tax payments. In addition to this, you’ll explore how to export reports to Google Sheets, use the custom chart builder, import budgets, and perform smart reporting. By the end of this book, you'll be well-versed with QuickBooks and have the confidence to manage all your bookkeeping tasks with ease.
Table of Contents (27 chapters)
Free Chapter
1
Section 1: Setting Up Your Company File
8
Section 2: Recording Transactions in QuickBooks Online
13
Section 3: Generating Reports in QuickBooks Online
18
Section 4: Managing Employees and Contractors
21
Section 5: Closing the Books and Handling Special Transactions
24
Other Books You May Enjoy
25
Index

Generating balance sheet reports

QBCU
5.1.1

A balance sheet report summarizes the assets, liabilities, and owner’s equity for a business at any point in time. This report allows you to assess the liquidity (access to cash or assets that can be quickly turned into cash) of a business, which is important to potential investors and creditors. As with most reports, you can customize the balance sheet report to meet your business needs. We will show you how to generate the report and customize it in this section.

Follow these steps to generate and customize a balance sheet report:

  1. Navigate to Reports in the left menu bar, as shown in Figure 12.5:

    Figure 12.5: Navigating to the Report Center from the left menu bar

  2. Scroll down to the business overview section and select Balance Sheet, as shown in Figure 12.6:

    Figure 12.6: Choosing the Balance Sheet report

    As you can see, there are several different types of balance...