Name Date Class

QuickBooks® Guide
Step-by-Step Instructions
What You’ll Learn Using QuickBooks
When you have completed this chapter, you will be able to use QuickBooks to:
1. Restore a QuickBooks Backup file.
2. Print a Chart of Accounts report.
3. Enter a new general ledger account.
4. Record a beginning balance for a general ledger account.
5. Explain the purpose of the account type setting.
6. Back up a QuickBooks file.

Problem 5-5 Analyzing Transactions into Debit and Credit Parts

Follow the instructions provided below to add new general ledger accounts for
Kits & Pups Grooming. You will also learn how to enter the beginning balance

QuickBooks Guide
for an account.

INSTRUCTIONS
Begin a Session
Step 1 Launch the QuickBooks® Pro 2015 software.
Step 2 Restore the Problem 5-5.QBB file by following the steps below.
• From the File menu, select Open or Restore Company. You can
also click on the Open or restore an existing company button
in the No Company Open window if you do not have another
company file open. The Open or Restore Company window will be
displayed.
• Click the Restore a backup copy radio button and then click Next.
• Click the Local backup radio button and then click Next.
• Navigate to and select the QuickBooks backup file that you want to
open.


• Click Open.
• Click Next.
• In the Save Company File as window, accept the file name
$/9/5(!6%
!15%34)/.
Copyright © McGraw-Hill Education. All rights reserved.

already selected for you by QuickBooks and click Save.

The message “Your data has been restored successfully” Q. Are there any differences
will appear. Click OK. between a manual system
and a computerized system
Work the Accounting Problem when you set up a chart of
Step 3 Review the information in your textbook. accounts?
Step 4 Add the Advertising Expense general ledger account. A. When you set up a chart
To add a new account: of accounts using QuickBooks,
you must enter an account
• Choose Chart of Accounts from the Lists menu. number and a title for each
The Chart of Accounts window appears. general ledger account just as
• Click the Account pull-down menu in the bottom left you would in a manual sys-
corner of the Chart of Accounts window. tem. Using a computerized
• Choose New. system such as QuickBooks,
however, you must categorize
each account by assigning
an account type (e.g., Bank,
Accounts Receivable, Income,
Expense, etc.)

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01_Problem 5-5 QuickBooks Guide.indd 1 7/24/15 9:26 AM

 Name Date Class

• In the Add New Account: Choose Account Type window, under

Account Type choose Expense radio button. Click Continue.
The account type identifies the account category (e.g. Bank,
Account Receivable, Expense, etc). QuickBooks uses this informa-
tion to group accounts for financial reports and to determine which
accounts are permanent and which are temporary when it closes an
accounting period.
• On the Add New Account window, type 501 in the Number field.

4)0 Press Tab to move to the next field in a data entry window and
press Shift + Tab to move to the previous field.

• Press Tab and type Advertising Expense in the Name

field.
• Click Save & New to enter the next account or Save &
Close to close the New Account window.
$/9/5(!6%
!15%34)/. 
QuickBooks Guide

Step 5 Add the remaining expense accounts shown below for Kits &
Pups Grooming. Q. When you add a new
account or enter a transac-
Account No. Name Type tion using the QuickBooks
505 Equipment Repair Expense Expense software, is it necessary to
510 Maintenance Expense Expense manually save your work?
520 Rent Expense Expense A. Some applications, such
530 Utilities Expense Expense as a word processor or a
Note: To edit an account description or opening balance, spreadsheet program, require
that you choose to save your
select the account to edit. Click the Account pull-down menu
work (for instance, by choos-
and choose Edit Account. Enter the correct information and ing the Save option from the
click Save & Close. File menu, or by clicking the
Step 6 Type the opening balances for Cash in Bank ($15,000) and Save button on a toolbar).
Abe Shultz, Capital ($15,000). QuickBooks does not require
you to manually choose to
To enter opening balances: save your work. It automati-
cally updates the company
• Select the Cash in Bank account. files for you. However, you

Copyright © McGraw-Hill Education. All rights reserved.

• Click the Account pull-down menu in the bottom left must always be sure to back
corner of the Chart of Accounts window. up your data when you exit
• Choose Edit Account. QuickBooks.
• Click Change Opening Balance and write 15000 in the
first Deposit field.
• Click Record.
• Click Yes in the Transaction Reconciled dialog box.
• Click Yes in the Past Transactions dialog box.
• Click the Close window button to close the Cash in Bank window.
• Click Save & Close to exit the Edit Account window.
• Click “the Close window button” in the Chart of Accounts window.

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01_Problem 5-5 QuickBooks Guide.indd 2 7/24/15 9:26 AM

 Name Date Class

Prepare a Report and Proof Your Work

Step 7 Print a Chart of Accounts report.
To print a Chart of Accounts report:
• The Chart of Accounts window must be open. If it is not, select
Chart of Accounts from the Lists menu.
• Choose Print List from the Account pull-down menu.
• When the List Reports window appears, click OK.
• When the Print List window appears, click Print.
Step 8 Review the information shown on the report.
Step 9 If you notice an error, select Chart of Accounts from the Lists
menu to edit/delete a general ledger account.
Analyze Your Work
Step 10 Complete the Analyze activity manually.
End the Session
Step 11 Before you back up your work, it is a common practice to close all

QuickBooks Guide
open windows by clicking the Close window button in the top right-
hand corner of the window.
Step 12 To back up your work, follow these steps.
• Choose Create Copy from the File menu.
• Click the Backup copy radio button and click Next.
• Click the Local Backup radio button and click Next.
• Click the Save it now radio button and click Next.
• Navigate to where you want to save your backup, verify that the
file name is correct and click Save.
• If a QuickBooks Change Location dialog box appears, click Use
this Location.
• When you receive the message from QuickBooks that your data has
been backed up successfully, click OK.

Identify at least one income, one expense, and one

Copyright © McGraw-Hill Education. All rights reserved.

equity account.

Chapter 5 ■ 3

01_Problem 5-5 QuickBooks Guide.indd 3 7/24/15 9:26 AM