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Here we are in QuickBooks Desktop get great guitars practice file going through the setup process we do every time maximize the home page to the gray area in the view drop down we got the hide icon bar open windows list checked off open windows open on the left reports drop down company and financial P and L profit and loss I'm going to bring the range from January through March remembering that the end of February was our cut off but we had some reversing entries in March. So I'm going to take this from 010123 to 033123 and then let's change it from the totals to the months month by month comparison and then I'm going to go to the customize and fonts and numbers changing the font bringing it on up to 14 okay yes and okay let's do the same for the balance sheet and the reports drop down company and financial the big balance sheet standard customize it so we can change in the range in 010123 to 033123 let's do first three months drop down let's change it to the months month by month breakouts what I'd like to see the side by side the fonts the numbers changing it to equal the 14 which we had on the P to the L and there we have it so that's the setup process that we do every time we now have implemented all the adjusting entries that we're going to do at this point in time so now you can kind of compare your numbers looking at the balance sheet and the income statement and then we'll also print out a trial balance and then we'll export these reports now obviously if you're on the bookkeeping side of things if you were to be doing bookkeeping or in the accounting department then you would you would wait till after you do the bank reconciliation and after you do adjusting entries to provide the financial statements then to clients for example however note that if you're doing accounting or bookkeeping for a smaller company then you might not have a kind of as much of a formal adjusting entries at the end of the month but rather might be waiting till like the end of the year possibly to do the adjusting entries necessary at least for taxes to get the tax preparation correct and the reporting correct at that time so it kind of depends on how often you know how you're going to set up your routine for doing the adjusting process and who's going to be involved within it so in any case we're going to check our numbers here this is what we have thus far these are the the February numbers and then the March numbers after we have reversed and then we're going to go to the profit and loss same thing here we've got the cutoff date is February and then we we had some reversing entries in March which basically reversed out most of them have fully reversed out by the end of March this one hasn't because we still haven't entered the transaction for interest in the following month but that is our profit and loss now let's open our trial balance reports drop down accounting and taxes the trustee trial balance opening it up and take that from 010123 to let's go to 022823 that's the cutoff date and then customize this report we'll go to the fonts and numbers changing the font up to let's do this one at well let's keep it at 14 to be the same so i'm going to export these to excel eventually so there's there we have these numbers so you can check as of the cutoff date on the trial balance which is probably the easiest way to check the numbers if anything is off here then what we're going to do next is look at what we did different in this section or this course which was the adjusting entries if you have the beginning balances correct and then these adjusting entries were entered then the Indian balance has to be basically correct if your beginning balances are wrong then you can go back and kind of check out from the prior section so in other words you might want to if you have an issue uh run you know run the report possibly as of the end of uh 227 the day before the end of the year because i don't believe we had any actual transactions on the 28th we may have that which you would have to account for and then and then you can kind of compare this this was our beginning balances then before we entered the adjusting entries and you can kind of check out the beginning balances and then if your beginning balances are correct and then all we did in this section or course is do the adjusting entries then your ending balances would have to be correct so this is where we stand as of that point now i'm going to look at the transactions that we took place notice i'm going to go to the reports drop down we're going to go to the accounting and taxes in prior sections or courses we have taken a look at the transaction list by date now just to note we could still kind of look at that i could look at my transaction list by date and and bring this as of all the transactions we put in place were 228 0228 23 so 0228 23 and so actually we did have a whole lot of transactions that happened on that day February 28th so if you were trying to look at the beginning balances you would have to account for a whole lot of transactions that happened on that date but in any case so we could look at this and if i was to customize it i want to look at just the journals go to the customized reports and then we're going to say let's try to filter it and just look at the transactions type and then i want to change this to just the journal entries and then fonts and numbers let's bring the font up to 11 okay yes and okay so there we have the journal entries you know that's one way that that you can look at it but the adjusting entries because there could be more than two accounts affected and because they're not using some other form i think are quite useful oftentimes to actually see in the form of debits and credits so i'm going to open up then the other report reports drop down and then accounting and taxes the journal report now because it's a journal report you might think that you just have journal entries in it but it actually is going to show everything let's do it again 0228 23 just as of the day of the cutoff 0228 23 because all of our adjusting entries were as of that day and let's customize it first just for the size so we can see what it is in total in a bit more detail this time i'll bring it to well can i do 14 to make everything the same let's try it's going to be quite expanded for this particular type of report but we'll give it a shot you know give it a shot that's what i say give it a shot man okay that's not bad so then notice that it's not just the type of transactions that are journal entries it's using every transaction and showing the journal entry related to it that is a really good report if you're trying to understand debits and credits and see the impact so it's the same transactions as the transaction report we just did we just looked at but now it gives you it in terms of debits and credits and if there's more than two accounts impacted it shows you all the detail as this as as we can see with this paycheck one which is quite complex so that's a nice report but we once again want to just look at the journals so i'm going to say the journal entries let's customize it up top let's go to the header no let's go to the filters and i'm going to filter it by type and just look at the journal transactions and then okay boom so there are our adjusting entries now we know they are adjusting entries by one they were entered as of February 28th 2023 and two they're journal type of transactions we didn't enter invoices for the adjusting entries and three we put in the memo that they're adjusting entries now because there were no other actual journal type forms as of 228 which is what got me kind of confused thinking we didn't enter anything as of 228 but what we didn't enter any other journal entries as of 228 therefore we don't have any other things i can filter down and just see our adjusting entries if we did have another journal entry as of the end of the year it just wouldn't have the memo and i can i can then account for it possibly one way you could do that is to is to export this to excel and then delete anything that you don't want in excel because this is a report that you might want to be using to communicate to your to your client or to the accounting department if you're doing the adjusting process this is what we did and this is the report showing exactly you know what we did okay so those are the reports and uh like i say if if if you're you enter these just as they are here as of 228 and your beginning balances were correct then the ending balances should be correct as of 228 and then we did the adjusting entries the adjusting entries bringing this up a day so these are the ones that i'm sorry these are the reversing entries to reverse some of the adjusting entries as of the first day of the following period and so you could check these out and then double check your numbers as of the end of of uh march because these are only the trans transactions by the way that were the reversal transactions we did enter a couple other transactions in march in our practice problem so but these are the the reversing entries okay let's print these out and uh and print them out so i'm going to go back up to the balance sheet we're going to print them as we have in other sections as a pdf try to think about how we can sort them and organize them we'll export them to excel as well and use excel as well as a pdf printer to put them all on one page now note that we're we now that we have two months i'm going to add the third month here even though it's not been completed so this isn't like a perfect thing that we would give to a client per se but but i want to print it in a similar way as we would if we were given it to a client so remember if you're given something to a client you got to think how often you're going to do that the end of the month the end of the quarter the end of the year what reports are you going to include are you going to have a summary balance sheet and then a comparative balance sheet for example multiple comparative balance sheets comparing month by month comparing this month of the prior month there's a whole lot of different detailed reports you can organize those by memorizing them and then have some system that you can give the reports in a very nice way i'm going to just going to use this report because it gives us both months and and the third month here to see to see our totals for our practice problem so let's customize it i'm going to go to the header and footer let's get rid of the date time report basis as has been our custom put our name in the footer you can put your name i'll put my name and then i'll say we want parentheses around the the negatives and i'll remove do i want the pennies let's keep the pennies for this one so you can check your numbers with them so i'm going to say okay boom on that let's go ahead and say that i want to print these to save as a pdf and then i'm going to go to the drop down this is going to be on the desktop i put a folder in here quickbooks it's going to go into the quickbooks ggg reports let's make another one new let's make these the adjusted reports adjusted reports after the adjusting entries is what i'm trying to indicate there and then i'm just going to say that this is going to be balance sheet boom and then we'll save it and then do the income statement otherwise known as the p to the l let's customize it let's go to the headers and footers let's call it an income statement just because we can we probably should get rid of the subtitle date time report basis name in the footer and then fonts to the numbers parentheses and i'll keep i'll make it red but i'll keep the pennies boom and then printing to the p to the e to the d to the f there's no e there's no e in it this is the income statement okay and then we'll go to the trial balance and go print report save it as a pdf actually i should do my standardized customize header footer date time report basis footer footer and then fonts and numbers parentheses reddited okay now do it now you can do it okay now i'll do it here save it and this is going to be the trial balance and then we'll do our journal reports i'm not going to do the transaction list by date but we're going to use the journal reports instead let's first do the ones as of the cutoff date february 28 customizing font let's go to here get rid of the date time name in the footer fonts negative numbers with parentheses and red and boom and then i'll say print it to save as a pdf so these are the adjusting entries and then i'll take one day up one day up three one those are the reversing entries and we'll print that out report and save as and this will be the reversing entries so there we have those i'm going to say there it is hopefully i'll be able to provide you with these items there's the reports adjusting reports i'm going to put them in another folder i'm going to make them large put them in another folder here new folder adj reports and then if i wanted to give this to someone i can put them all in that folder i can put them on a cloud drive like one drive or something like that or i can zip them and give them to someone in an email in a zipped format so your zipped format might not look like this but it'll be zipped so i can attach it now let's export them to excel and then make one pdf with all the reports on them like we've done in the past so i'm going to go balance sheet let's export it create a new worksheet i'll do this faster because we've seen this before in prior sections i'm going to say it's going to go to a new workbook you're going to need excel in order for it to export to excel and then i'll make this large so it opened up excel there's our tab does it fit on one page wide that's all i care about right now no it doesn't so i'm going to i can get rid of the skinnies like that skinny holding down control and that skinny don't need the skinnies i'm going to delete the skinnies it still doesn't do it i'm going to move the a cut paste i'm going to move these two cut control x paste and then i'm going to get rid of column a altogether you're gone a but then a new a takes its place that's what happens when you try to get rid of the a they're like terrorists it's like another one just takes their place you're like what the what is going on here i just got rid of one of these things so there it is i don't know what i'm talking about anyways was is going to go save let's save this thing save and as and we'll put it on the desktop and then we'll put this in to the data file what is quickbooks data no the ggg reports man get with it this is going to be the adj reports boom and hold on hold on it opened that i can't name it the same thing or it tries to open it up ports let's put a period after it this is what the file name don't open up the folder excel what are you doing close it i gotta close it to open the next report and then profit and loss will do the same thing here export create a new worksheet but this time it's going to go to an existing workbook i don't think it's going to the right one though so i'm going to fix it ggg reports adjusting entries that's the one adju what's the i guess that makes sense export the specific file could not be found what do it it's right there it's right okay hold on a second okay i fixed it now apparently the the quickbooks doesn't like it when you name a file with a dot or period so i had to put a one there and then it read it so good to know good to know so i'm going to then drag this to the right this is going to be the ink double clicking on an income statement and go to the second tab does it fit on one page no no of course not so i'm going to then let's get rid of the skinnies holding down control skinnies i don't need those delete and not there yet so let's get rid of the column a control x delete column a delete and then i'm just going to force it to work by making that skinny all right closing that back out let's then go to the next one ad trial balance that's the one i need let's go ahead and export that excel create a new one and then existing workbook are you going to the right one no it's not going you should know where to go by now you should know where to go it's going to go to that one and then export and then there it is pulling that to the right double clicking on the name tb trustee trial balance that's not tuberculosis it's trial balance that's what it stands for and then i'm going to get rid of the column i don't need this total over here get rid of column a delete none of these fit on a page this one has this long name because of the sub accounts so you could go through here and delete the sub accounts because you don't really need those and you know those are actually kind of confusing way to do it but i'm just going to skin arise them like that till they fit on a page like so like so delete it and then do it again now i'm on the journal reports i need two of these first for 228 228 228 because that's the cutoff date 228 is the cutoff date whoo that's a rhymer we're going to export this one to the does it know where it's going yet okay then now it's going to the right place export i'm not even going to check next time i'm going to live dangerous flying by the seat of the pants drag this one to the right this one's totally not going to fit on a page check it out no we're going to have to reorientate that one for sure we're going to go to the orientation landscape and then it's that's not enough i'm going to get rid of the total i don't need that total at all column a delete it but then the terrorists put a new leader in there so it's still there but it's okay that one's not as crazy so i'm holding down control selecting all the skinnies and then we'll right click and delete all that stuff and then then maybe i don't need the journal stuff really because i know it's a journal i'm just going to make that skinny skinny skinny and then i could i could uh maybe i'm going to take this whole thing and say that i'm going to wrap that wrap it like that and then i can make that whole thing smaller and then it should wrap the text but then i don't like it's like it's on the bottom of the cell so i usually fix that by selecting the whole thing here and say i want it to be at the top of the cell that's how i like to see it that's how i like to see it okay it's still not on one page though almost there oh come on are you kidding me i don't need this stuff oh this is ridiculous you're making me look stupid okay i'm just going to wrap this one too i'm going to wrap this one we'll wrap that now i can be as small as i want there it is okay so these are the adj entry and then one more round one more round i didn't hear no bell dang it i only stop when bells are ringing i'm not sure if they're real or not let's export it to excel export it to excel and i'm not even going to check it this time i'm just going to export it and assume it's going it doesn't know where it's going okay whatever i have to check it i thought you i thought you'd be able to do it yourself excel but no maybe it's because it's open right here i gotta close it first okay okay i fixed it i fixed it come on okay it crashed but i'm back now so i'm gonna say reports drop down let's go ahead and create a new worksheet we'll try it again try it again and then it's going to the right place boom so there it is and then export there it should go last one ultra they're gonna pull this to the right double click these are the reversing entries entries and let's this is not going to fit on a page of course let's make it land escape landscape and then i'll get rid of the total column don't need that delete get rid of the skinnies a control holding down f h j l n p right click and delete that stuff and then i'm going to take all of this i'm i'm going to say wrap the text on that stuff wrap it wrapping and then i'm going to skinnerize all of them maybe at the same time this time see if i could do this faster did it wrap where's the wrapping where's the wrapping wrap the wrap there we go then i'm going to select the whole thing i'm going to put it on i want it all at the top of the cell and then i think that's good is it now i messed up hold on hold on it's got to be a little bit a little bit skinnerized just a little bit a little bit more just how about this one i can make this one smaller boom all right so now we got it we're going to go to the print file and we're going to put this all on one page with a cute pdf printer which is free if you don't have one i think you can get it for free i'm not advertising for them we're not affiliated at all hitting the drop down i want to look at the entire work book so we've got the balance sheet we got the income statement we got the tb we got the journal report for the adjusting entries and then the reversing entries looks good movie bn how you being i'm movie being hippies are just being man but i'm movie bn that's way better so i'm going to the home to here edit where's this quick books we're going to put this on the ggg file and this is going to be that okay let's save it so now we can provide it to somebody and hopefully i'll be providing uh you guys with this so you can check your numbers with it as well but we've got the reports here in the adjusting area we can give them the reports one at a time i'm going to make it large we can give them an excel worksheet we can attach them to to uh a one drive or something or we can have this one file now with all of the reports in them which is super fancy and like in a good way not too many not too frilly you know you get too fancy with too much stuff going on at one time this is but this is good no notice the landscape stuff shows up vertically here so you can still read it properly and that is that