Book Image

Mastering QuickBooks 2020

By : Crystalynn Shelton
Book Image

Mastering QuickBooks 2020

By: Crystalynn Shelton

Overview of this book

Intuit QuickBooks is an accounting software package that helps small business owners to manage all their bookkeeping tasks. Its complete range of accounting capabilities, such as tracking income and expenses, managing payroll, simplifying taxes, and accepting online payments, makes QuickBooks software a must-have for business owners and aspiring bookkeepers. This book is a handy guide to using QuickBooks Online to manage accounting tasks and drawing business insights by generating reports easily. Using a fictitious company, the book demonstrates how to create a QuickBooks Online account; customize key settings for a business; manage customers, vendors, and products and services; generate reports; and close the books at the end of the period. QuickBooks records your debits and credits, so you don't need to learn accounting. However, you will find out what happens under the hood and understand how your financial statements are impacted by what you do in QuickBooks. You'll also discover tips, shortcuts, and best practices that will help you save time and become a QuickBooks pro. By the end of this book, you'll have become well-versed with the features of QuickBooks and be able to set up your business and manage all bookkeeping tasks with ease.
Table of Contents (19 chapters)

Understanding the statement of cash flows

The statement of cash flows is a detailed report that shows the cash coming in and going out of your business for a period of time. It categorizes cash flow into three categories: operating, investing, and financing activities. Similar to the profit and loss and balance sheet reports, you can customize the statement of cash flows to meet your business needs. We will show you how to generate the report and customize it in this section.

Follow these steps to customize and generate a statement of cash flows report:

  1. Navigate to Reports in the left menu bar, as shown in the following screenshot:

  1. Scroll down to the business overview section and select Statement of Cash Flows, as shown in the following screenshot:

  1. You can customize the date range and columns to display, as shown in the following screenshot:

Brief descriptions...