Chapter 3

means establishing the information in the system that permits the automatic and convenient processing of transactions and preparing reports

to automatically complete many parts of data entry in the processing windows such as customer address and terms

• Information:
• add
• change
• delete

the inability to add, change, or delete any transaction data by doing any type of maintenance task

• Cutomer Center
• Customer & Jobs tabs
• Drop-down:
• Customer with Open Balances

• Customer Name-Balance
• Company name
• Full name
• Job titles
• Phone Number
• Email
• Fax
• Website
• Billing Address
• Shipping Address

• Customer type
• Rep
• Custom Fields:
• Contract #
• B-Day
• Spouse's name

• Account #
• Terms
• Perferred Delivery
• Perferred Payment
• Credit limit
• Price level
• online payment link to invoices
• Credit card information

• Tax Code
• Tax Item
• Resale No.

when you delete any account, the account is permanently deleted in QuickBooks

Quickbooks prevents users from deleting accounts that include financial data. Will not delete account if used in one transaction in this accounting period

Transaction entry errors can be corrected by clicking the box containing the error and reentering the correct information

All evidence of the transaction is eliminated from the records

QuickBook retains the transaction information in the system, but records the amount as zero

if it is impractical to prepare the same document again.  Common when a company uses pre-numbered documents and discovers an error or document was destroyed. Preserves the audit trail

if there is no need to preserve an audit trail. If transaction can be corrected before printing pre-numbered documents or if the documents are not pre-numbered

When a company expects additional transactions with a customer in the future it is appropriate to add full customer detail as part of the transaction recording process

• When a company does not expect additional transactions with a customer in the future it is appropriate to include less information during the transaction process
• *usually applies to customers an vendors

minimizes the likelihood of errors and fraud

• applicable for processing transactions
• restrict access to software

QuickBooks includes many controls to minimize errors and reduce the time it takes to enter data

• Automatic Entry Controls
• Automatic Calculation 
• Posting Controls
• Complete Data Controls
• Valid Data Controls
• Exceed limits controls

automatically enter information after receiving a cue from the person entering the data. This reduces data entry time and likelihood of data entry errors

automatically calculate or post information after the person entering data has entered other information or clicked certain buttons

transaction information is automatically posted to subsidiary records, the general ledger, and other records through the use of the Print and Save button in various windows after transaction information is entered.

informs the person entering data into the system that information needed to process the transaction has been omitted

minimize the likelihood of entering incorrect data into the system. If a field is numeric it will not accept alphanumeric data. If a date option is out of range or invalid a message will show

informs the person entering data that the transaction is not authorized due to such things as exceeding credit limits, or insufficient inventory on hand to fill the order

permits restricting access to the software by the use of a password. Once set up, the software can be accessed only by entering the password whenever QuickBooks is opened.