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Maintenance
means establishing the information in the system that permits the automatic and convenient processing of transactions and preparing reports
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Maintenance allows QuickBooks
to automatically complete many parts of data entry in the processing windows such as customer address and terms
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3 Maintenance tasks
- Information:
- add
- change
- delete
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Internal control in maintenance
the inability to add, change, or delete any transaction data by doing any type of maintenance task
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Customers with open balances
- Cutomer Center
- Customer & Jobs tabs
- Drop-down:
- Customer with Open Balances
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Customer Maintenance
Address Infor. tab
- Customer Name-Balance
- Company name
- Full name
- Job titles
- Phone Number
- Email
- Fax
- Website
- Billing Address
- Shipping Address
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Customer Maintenance
Additional Info. tab
- Customer type
- Rep
- Custom Fields:
- Contract #
- B-Day
- Spouse's name
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Customer Maintenance
Payment Settings Tab
- Account #
- Terms
- Perferred Delivery
- Perferred Payment
- Credit limit
- Price level
- online payment link to invoices
- Credit card information
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Customer Maintenance Tab
Sales Tax Setting
- Tax Code
- Tax Item
- Resale No.
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Maintenance-Deleting an Account
when you delete any account, the account is permanently deleted in QuickBooks
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Deleting an Account-built in control
Quickbooks prevents users from deleting accounts that include financial data. Will not delete account if used in one transaction in this accounting period
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Correcting a Transaction before it is recorded
Transaction entry errors can be corrected by clicking the box containing the error and reentering the correct information
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Deleting a Transaction
All evidence of the transaction is eliminated from the records
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Voiding a Transaction
QuickBook retains the transaction information in the system, but records the amount as zero
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Why void a transaction
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
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When to delete a transaction
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
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Quick Add
maintenacne on the fly
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
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Quick Add
- 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
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QuickBook internal controls purpose
minimizes the likelihood of errors and fraud
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QuickBook internal controls categories 2
- applicable for processing transactions
- restrict access to software
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Controls over processing transactions
QuickBooks includes many controls to minimize errors and reduce the time it takes to enter data
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Processing Controls 6
- Automatic Entry Controls
- Automatic Calculation
- Posting Controls
- Complete Data Controls
- Valid Data Controls
- Exceed limits controls
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Automatic Entry 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
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Automatic Calculation
automatically calculate or post information after the person entering data has entered other information or clicked certain buttons
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Posting Controls
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.
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Complete Data Controls
informs the person entering data into the system that information needed to process the transaction has been omitted
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Valid Data Controls
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
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Exceeded Limits Control
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
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Password Control
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.
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