Chapter 10: Maintaining Accounting Records for Service Businesses McGraw-Hill/Irwin

Transcription

Chapter 10: Maintaining Accounting Records for Service Businesses McGraw-Hill/Irwin
Chapter 10:
Maintaining Accounting Records
for Service Businesses
McGraw-Hill/Irwin
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
Service Business Records

In Chapter 10, you continue the work started in
Chapter 9. You complete the computer accounting
cycle for the month of October using your client's
transaction register and bank statement as source
documents. Source documents are used to show
written evidence of a business transaction. For Vernon
Firestone Designer, the source documents used are
his transaction register and bank statement.
 The transaction register shows Mr. Firestone’s
checking account activity.
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Peachtree Tips
Chapters 9, 10 and 11 are cumulative.
The Vernon Firestone Designer service business set up
in Chapter 9 is continued in Chapters 10 and 11.
The company set up in Exercise 9-1, Student Name,
Design, is continued in Exercises 9-2, 10-1, 10-2, 11-1,
and 11-2.
10-3
Backing Up Chapter 10
 In the textbook, detailed steps are shown for backing up to Peachtree’s default hard
drive location: C:\Program Files\Sage Software\Peachtree\Company\verfirde [or, your
company’s shortened name]. The chart on textbook pages 275-276 shows the size
of the backup files. The Excel files saved are also shown. The textbook steps explain
how to backup to external media such as CD-Rs, DVD-Rs, and USB media.
Backup Name (.ptb)
Excel (.xlsx)
Kilobytes
Page Nos.
Chapter 10 Transaction Register
October.ptb
1,339 KB
336
Chapter 10 October.ptb
1,358 KB
349
18 KB
349-351
Exercise 10-1.ptb
1,298 KB
356
Exercise 10-2.ptb
1,303 KB
358
18 KB
359
Chapter 10_October Balance Sheet
and Income Statement.xlsx
Exercise 10-2_October Balance Sheet
and Income Statement.xlsx
10-4
Maintain Global Options, steps 1-2, p. 328-329

From the menu bar, click on Options, Global. Make sure the box
next to Recalculate cash balance automatically in Receipts,
Payments, and Payroll Entry has a check mark next to it.

Click <OK>. When you use Receipts and Write Checks, make
sure that the check register’s balance agrees with the cash
balance shown on the check register. Refer to the partial check
register on p. 328.
10-5
Editing Journal Entries, p. 344

Click on Tasks, then Receipts. Click on the
icon. Double-click the deposit you want to edit

Make any necessary changes, then click on Save
to post.
10-6
Glossary of Terms
Chapter 10
10-7
Source Documents, p. 325

Source documents are used to show
written evidence a business
transaction. For Vernon Firestone
Designer, the source documents
used are his transaction register and
bank statement.
10-8
Transaction Register, p. 325

The transaction register shows
checking account activity.
10-9
Bank reconciliation, p 339

Peachtree’s Account Reconciliation
feature allows you to adjust Mr.
Firestone’s bank statement. Bank
reconciliation is the process of
bringing the balance of the bank
statement and the balance of the
cash account into agreement.
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Peachtree’s Resource Center, p. 351
1. Read the Peachtree Resource Center information on
pages 351.
2. To access Peachtree’s Products & Services website,
link to
www.peachtree.com/productsServices/whatsNew/.
3. In the New Features Videos list, select My
Dashboard.
4. Watch the YouTube video. (This information is for
Peachtree Quantum software.)
10-11
Internet Activity, p. 351
1
Go to the book’s website at www.mhhe.com/yacht2010.
2
Link to Student Edition.
3
In the Choose a Chapter field, select Chapter 10. Observe that the Quizzes
and More Resources list includes additional activities. In the Course-wide
Content list, link Internet Activities; then link to Part 2 Internet Activities for
Chapter s 9-11. Select Open or Save.
4
If necessary, scroll down the window to UNDERSTANDING ACCOUNTING
TERMS – Chapter 10. Read steps 1, 2 and 3.
5
Follow the steps shown on the textbook’s website to complete this Internet
activity.
6
Use a word processing program to write a summary for each website
visited. Your summaries should be no more than 75 words.
10-12
Going to the Net, p. 352

Access the Peachtree Quantum website at
http://www.peachtree.com/productsServices/quantum/.
Watch the product video and customer profile video.
Then, answer the following questions:
1. What are some of the features of Peachtree
Quantum.
2. What is SmartPosting?
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