Vol. I - The QuickBooks Farm Accounting Cookbook™

...farmers, ranchers, accountants, tax preparers, extension personnel, and teachers and students of vocational agriculture. It is the comprehensive reference for farm/ranch accounting with QuickBooks.

Series: Quickbooks Cookbook™
Title: The QuickBooks Farm Accounting Cookbook™, Volume I: QuickBooks Basics, Income & Expenses, and More...
ISBN: 0-9673083-0-5
Author: Mark Wilsdorf
Pages: 370
Available editions: Print, ebook.
Reader for the EBook edition: Javelin, the FREE ebook reader for Microsoft Windows, Apple Mac, and Apple and Android mobile devices.
Publisher: Flagship Technologies, Inc. (April, 1999)
Language: English

Pages 93-96. From Chapter 5, includes part of the topic Where to Enter Farm Expenses: ...as Checks? ...as Bills? ...as Credit Card Charges?

Pages 104-106. From Chapter 5, includes the topic How to Deduct Cash Discounts from a Check or Bill.

Pages 123-126. From Chapter 5, includes the topic Using Purchase Orders to Keep Track of Ordered Items.

Pages 202-204. From Chapter 5, includes part of the topic Keeping Track of Livestock Purchased for Resale.

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Introduction	1
Chapter 1 - Basic Decisions & Things to Know	5
Do I Need QuickBooks or QuickBooks Pro?	5
Separating Farm and Personal Funds...Or Not (How to Bend the Rules)	6
Cash vs. Accrual Accounting	9
Single- vs. Double-entry Accounting	10
Chapter 2 - Setting Up a New QuickBooks Company	13
The EasyStep Interview	13
Setting Preferences	23
Setting Up QuickBooks for Your Printer(s)	30
Chapter 3 - Setting Up Accounts, Classes, and Other QuickBooks Lists	33
About QuickBooks Lists	34
Setting Up a Chart of Accounts	35
Setting Up Classes: Enterprise Information and More	59
Items: Identifiers for the Things You Buy and Sell	68
Name Lists: Customers, Vendors, and More	76
Chapter 4 - Getting Real Work Done with QuickBooks!	81
New Users: Try the Navigator	81
Keep Your Records Current!	83
Use the Reminders Window	83
Manage Your Bill Payments with QuickBooks	84
Use QuickFill to Speed Transaction Entry	85
Let QuickBooks Help You Reconcile Your Checkbook and Credit Cards	86
Use Memorized Transactions?	86
Let QuickBooks Print Your Checks!	87
Use QuickBooks’ Inventory Features Carefully	89
Learn to Use Forms and Registers	90
Chapter 5 - Farm Expenses & Payables	93
Where to Enter Farm Expenses ...as Checks? ...Bills? ...Credit Card Charges?	93
Working with Bank Accounts	95
Entering Checks	100
Deducting Cash Discounts from a Check or a Bill	104
Printing Checks from QuickBooks	105
Working with Bills	108
Entering Bills from Vendors (Accounts Payable)	112
Entering & Applying Credits on Account (Issued by a Vendor)	115
Handling a Refund of Your Account’s Credit Balance (from a Vendor)	118
Paying Bills and Applying Credits on Account	120
Using Purchase Orders to Keep Track of Ordered Items	123
Paying Expenses with the Farm’s Cash (Petty Cash)	126
Paying Farm Expenses with Non-Farm Funds (Personal Cash, Checks, or Credit Cards)	127
Working with Credit Cards	134
Chapter 6 - Farm Income & Receivables	145
Where to Enter Farm Sales/Income ...in a Deposit? ...Cash Sale? ...Invoice?	145
Entering Sales the Simple Way, as a Bank Deposit	148
Entering Deductions (Yardage, Hauling, Commissions, etc.) from Bank Deposits	151
Withholding Cash from a Bank Deposit	152
Income from Refunds & Rebates	154
Recording Sales Dollars and Quantities: The Cash Sales Form	155
Entering Deductions (Yardage, Hauling, Commissions, etc.) on Cash Sales Forms & Invoices	158
A Simple Way to Track What You’re Owed: “Pending” Cash Sales	160
Need to Track Customer Accounts and Print Statements? Use Invoices	163
Entering Farm Income Received as Cash	169
Chapter 7 - Quantity Information in Income & Expense Transactions	173
Including Quantity Information in Your Transactions	173
Entering Two Quantities in Income and Expense Transactions (Requires ManagePLUS)	179
Entering Quantities as Mathematical Formulas	181
Tracking Weighted Average Grade or Quality Information (Requires ManagePLUS)	184
Chapter 8 - Special Income, Expense, and Miscellaneous Examples	187
Handling Farm Production as Inventory: a Grain Inventory Example	187
Keeping Track of Livestock Purchased for Resale	199
Entering Milk Sales Income	210
Recording Patronage Dividend Income (Distributions from Cooperatives)	221
Tracking Forward Contracts as Pending Cash Sales	224
Your Tax Planning & Tax Preparation Options	228
Chapter 9 - Accounting Techniques to “Pick & Choose”	228
The “Best” Way to Keep Track of Cash Spending & Cash Income	231
Maintaining the Farm’s Cash Fund (Petty Cash)	237
Using a Non-Farm Funds Account	243
Keeping Non-Farm Income & Expense Records in the Farm Accounts	251
Automating Recurring Transactions	260
Managing QuickBooks Lists: Reordering, Merging, Deleting, and Hiding List Entries	271
Chapter 10 - Farm Asset Basics	279
Simple Fixed Asset Accounting for Tax Records	282
Accounting for Market Value Balance Sheets	285
Accounting for Asset Book Values: Depreciation & Other Stuff	290
Chapter 11 - Farm Loan Basics	307
Setting Up Accounts for Loan Liabilities	307
Entering Loan Proceeds (Receiving Borrowed Funds)	310
Entering Loan Payments	316
Getting Information on Loan Payments and Unpaid Balances	319
Chapter 12 - Essential QuickBooks Reports	323
Report Basics: The Profit and Loss Report	323
Preparing a Balance Sheet Report	331
Preparing Income Tax Reports	342
Chapter 13 - QuickBooks “Housekeeping”	349
QuickBooks Data Files	349
Backing Up Your Records	351
When Something Seems Wrong: Verifying/Rebuilding/Restoring Data Files	355
Keeping Transaction Details: Archiving and Condensing the Company File	357
Appendix A: Other Resources & Information	361
Appendix B: QuickBooks List Capacities	363
Index	365

The name "Cookbook" comes from how the book presents transaction examples: each is a self-contained description of what you need to know about entering a certain type of transaction, much like a recipe describes the ingredients and steps for making a cake. This format lets you find answers to your accounting questions quickly...without the need to read several chapters for background information.

Getting Started with QuickBooks

The first 92 pages are devoted to the basics of setting up and getting started with QuickBooks in a farm business, including ideas and approaches for setting up the Chart of Accounts and enterprise Classes, details about QuickBooks' EasyStep interview, discussions highlighting QuickBooks features most farm businesses should use and features most farm businesses should avoid!

Farm/Ranch Transaction Examples

Pages 93 - 360 are devoted mostly to farm business transaction examples and explanations. This section shows the reason for "Cookbook" in the book's name: it is loaded with a detailed, step-by-step "recipes" for entering farm business transactions.

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Farm/Ranch Transaction Examples

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