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Working With Lists, Part 1

Lecture Slides are screen-captured images of important points in the lecture. Students can download and print out these lecture slide images to do practice problems as well as take notes while watching the lecture.

  • Intro 0:00
  • Editing The Chart of Accounts 1:08
    • Edit Account
  • Adding Subaccounts 6:17
    • New Subaccount
  • Working with Customers & Job Lists 11:32
    • Add new customer
  • Providing Additional Customer Information 17:50
  • Providing Customer Payment Information 22:10
  • Working with the Vendor Center 24:08
    • Add new vendor
  • Providing Additional Vendor Information 28:28

Transcription: Working With Lists, Part 1

Welcome to This is QuickBooks lesson working with lists, part one.0000

The first thing we want to do is in QuickBooks we have many, many different lists.0006

And the first list and the most important list is our chart of accounts.0012

Now, in QuickBooks and in All-County the chart of accounts is the hub of your business.0016

In order to look at the chart of accounts there are a couple of ways to get there.0024

My favorite way is to go through lists and we can choose chart of accounts.0028

Or from the menu bar we can go to company and we can scroll to chart of accounts.0032

So, in the chart of accounts it is the listing of all of our assets, our liabilities and our equity accounts.0042

As well as our income and expense accounts.0048

So, the first thing we want to do in reviewing our chart of accounts.0052

As we want to be able to add certain things and add accounts as we need them.0057

I do not like to see a chart of accounts that is gummed up with too many details.0064

But, if we are going to do some details we want to use some sub-accounts about for that.0069

For instance if we have auto expenses we might want to track the detail of those auto expenses.0072

For instance fuel, lease payments, repairs, maintenance and so forth.0081

So, we might want to track those detailed expenses and those detail of categories.0088

We might even want to say under auto expenses we might break it down buy trucks or vehicles.0094

Truck number 1, truck number 2, the Lexus, the suburban whichever.0100

And under those categories we can get details on that.0106

So, first thing I want to do is show you how we can manipulate the chart of accounts and work with those lists.0109

The chart of accounts is usually organized in the asset, liability, equity, income and expense in that order.0119

Let us just scroll down.0128

So, we look at the expenses here.0129

We have auto and it is broken down fuel, insurance, repairs and maintenance.0133

It is already done in that way and that is helpful.0137

So, we can look at the detail of that information.0141

But what if we want to add a particular bank account to our chart of accounts?0143

We have added a bank account, we have added a savings account and maybe money market or some sort of.0151

So, we are going to add a money market account.0155

So, in order to add an account we are going to create a new one.0158

So, we will say under the chart of accounts we are going to say account.0165

In the lower left bottom of the chart of accounts box we say account and we are going to choose new.0170

We are going to say here is a bank account, the new bank account.0177

We will continue and we can put in a number here.0181

That is 10.350 and call it money market.0186

OK and we can go ahead and save and close on that.0194

So we have added a new bank account there.0197

We are not going to add up any online bank. This is just fictional at this point.0201

But we have needs of adding accounts and that is how we can do that.0207

Now we might want have a need to do some sub-accounts or for instance.0210

We look at the auto expense and we see these sub-accounts or indented accounts that are related to automobile expense.0217

But they are indented meaning they are sub-account of the parent account which is the automobile expense.0227

We may have a need to break down our bank service charges.0235

We might be able to say well, there are NSF fees.0240

There are deposit problems that you might have charges for.0243

In other areas we can add sub-accounts to that. We can look at the income streams that we have.0248

We have reimbursement income. We have construction income.0256

Well, I do not see where we might have a consulting income.0259

Maybe we are actually going to provide construction consulting for a competitor or in another way.0262

So, we might have those types of things as well.0268

So, how to add a sub-account? Let me show you how to do that.0271

And we are going to add say under bank service charges NSF fees, Non-Sufficient Funds fees.0274

So, we are going to highlight our bank service charges and we will say account and new.0281

And this is going to be an expense account and we will put the number very close to the bank service charge.0287

The bank service charge in our example here is 60600. 0294

So, I will say 60610 and we will say it is NSF, Non-Sufficient Funds fee.0298

OK? Now, when we put in the name we can tab over we can choose sub-account of.0306

And this where we go down to say it is bank service charges.0312

I can say save a new and here I can add another one 60620 and this could be monthly service fee.0316

And that is a service that is also a sub-account and we can add that there as well.0330

So, now we have added those sub-accounts to our chart of accounts.0335

Now, the other lists that we have in working with lists are customer list, job list, vendor list etc. 0340

So, we are going to look at the customer list now.0346

Now, we have kind reviewed a little bit on the chart of accounts.0348

You need to become very familiar with that. We are going to look at the customer list.0352

Now, we have a variety of databases within QuickBooks.0356

There are our customers, our vendors, our employees, our banks.0360

And of course our chart of accounts which ties everything together.0366

So let us look at our customer list.0369

As we go into our customer center we can use the icon bar to look at our customer list.0373

We can close that down. We can go to the menu bar and choose customers.0382

And also choose the customer center to use and see the same information our customer list.0387

In the very left book column of this window is our customer list.0393

And that helps us to organize and see our customers.0399

Now, what we want to do is actually add a new customer to our list here.0403

So, let us say we have a new customer and it is Danas Donuts and we are going to have that new customer.0409

So, in doing so we can look at our customer center here.0417

And in the upper left corner we see new customer and jobs.0421

So, we have dropped down that arrow and that list has a couple of things that we can do here.0426

We can add a new customer, add a job or add multiple customer jobs at the same time for a customer.0431

Here we are going to add Dana's donuts.0438

So, we will click on new customer and I will say the name is Dana's donuts, donut shop. How is that?0440

Danas' donut shop and the company name is Dana's donut shop and we can put in an address here.0447

So, when we add the information we tab trough. 0459

We can put the first name of our contact to Dana and his last name is Swan.0461

And we will put in the address which is 123 Barry Lane in Donutville, California.0469

And we will put up 99993128 whatever. OK, this is the zip code. 0480

So, we put that in there we have this guy Dana's donut shop. 0486

Easy in there we can put in the information. We can put in his phone number, fax number.0491

All the information we need to. We can put in additional information.0496

The type of customer this is. It is commercial customer not a residential.0501

We can give them terms that we are going to give them an incentive to pay their bill on time etc.0505

I do not normally do that. I just want people to pay me in full.0511

We can assign a representative, a rep.0514

If we are big enough we have customer reps that are servicing the client and so forth.0517

And we can put them in a price level that there are commercial price level, residential etc.0522

We might have different price levels that we set up in different lists.0528

We can set up payment information. We can assign them account number if we wanted to.0532

If we are going to give them credit. How much time we can give them credit for our services if we wanted to.0536

We can put in there preferred method of payment, cash, check or even a credit card.0543

We can do that and put that in there and store that information.0550

We can also add jobs to that and since this is a donut shop we are going to add a new job.0555

That we are going to propose on and we will just say it is a new job. 0561

And we can put that in there later here actually. We will just add the customer for now.0565

So, now we have Dana's donut shop. But now we want to add a job to Dana's donut shop.0572

Because we are going to do a new construction for his donut shop.0577

So, under Dana's donut shop with him highlighted in our customer list.0581

Under the new customer job in drop down menu we can now choose add job.0587

Now, the job name it is going to be donut shop. 0593

OK and we can go to the job information tab.0596

And we can say well, this is a pending estimate that we are going to do.0602

And we are hoping to start it by the middle of next month on the 16th.0605

And we expect that is going to be a couple of months there. We should be done by March 15th.0611

And this is new construction for donut shop and we can say here it is. It is a new construction job type.0617

So, we can assign that and add that job to this customer.0627

And when we hit OK it adds it to the customer list, Dana's donut shop and it is a donut shop, new construction.0632

So, that is how we can add a new customer and jobs.0640

There is additional information. Customer information that we want might want to add.0645

So, going back into that customer.0650

If we wanted to add some additional information that we have found out.0651

That we need to put into the customer contact information.0655

We can highlight that customer in the customer list.0658

And in doing so we can actually edit that customer by looking at the summary page here in the middle of the screen.0661

And I will click on the button that says edit customer and it is going to pull it up.0671

I can put it to choose the additional information like I said.0676

Now I can put in his birthday we have found out, his spouses name.0679

Or maybe I want to find out his dogs name and I do not have a place for that.0685

Well, guess what? I can add that by looking at the defined fields and I can add a field to that.0690

So, I am going to put in Dana's dog's name and I will say click on the defined fields here.0697

And I am going to add one that says dog's name that is Nathan.0703

I might want to know it just for the customer.0708

I could also say I want to know my vendors dog name and my employee's dog name.0711

I do not care about my vendors dogs.0716

But I want to know what the dog name of my customers are and maybe my employees.0718

So, I am going to add that to the employee lists as well and the additional information field.0722

So, I will click OK and I have activated that.0728

And there it is dog's name. It is Rover and I can put it in there.0732

Now, I have got my additional information.0736

Now, the next thing is there is some customer payment information.0742

For instance, we went under the additional tab of information.0746

If I go back to edit customer and I go back to the additional information tab.0753

I can say well, there is a tab of payment information.0757

And I can put in there credit card and I can put that on file.0761

So, that when invoices are due we can just get the approval from them, signature and then run the card.0765

If we are going to use the credit card service, processing services of QuickBooks which allows us to do that.0772

We can also set them up with other merchant accounts as well.0779

And utilize that in QuickBooks and go ahead and use merchant services of whichever of your choice.0782

So, that is helpful. So, we can put in that payment information for our customer.0788

Now, we have done that. Now, we want to look at our vendors and see what our vendor list looks like.0795

We have seen our customers. Now, we can go to our vendor list.0802

Now, we can go through vendor list and get there by using the icon bar and going to the vendor center.0807

Or through the menu bar, we can choose vendors and choose the vendor center there.0813

It will pull up our vendor list.0818

So, with our vendor list we are going to add a new vendor here.0824

And our vendor is going to be. Let us make something up here.0829

We are going to have a pest control company that comes and we are going to use.0836

Because we have a problem with rodents and now we are on a new plan to utilize their services.0840

To take care of the bugs and rodents in our facility.0846

So, to add a new vendor, gee-whiz, this looks just like our customer center. 0851

If you notice it is the same format only it just says vendor center.0856

So, QuickBooks has designed things such that it is easy to use, it is uniform and it looks familiar.0861

So, under our new vendor up in the upper left corner. 0869

We can drop down that vendor, that menu bar and click on new vendor.0873

Here we are going to add a West Valley test control.0881

We are going to add that in there. Put the company as West Valley test control.0888

Same information we can put in there. Their address 123 Main Street in Duncan, California.0894

I do not know where these places are. I am just making them up.0906

And so we have their address there, the proprietor.0910

Out contact name that we are dealing with is Sally Fields or Feldman. That is Sally Feldman and in so for.0915

So, we can add this new vendor to our list and we have that taken care of.0927

Now, of course with our additional information we can put in additional information here.0934

We can do additional things. Maybe we want to know what the dog's name is for our vendor.0939

So, we can go to our defined fields and say I want to know the vendors dogs name now because I want to know. 0945

So, this dogs name for the West Valley pest control is Sam and so forth.0954

We can sign account number if that is what we do in our business, sign customers account numbers etc.0961

We can put in the type of what vendor this is and at this point there are really.0967

We do not have that type. There are somewhere using their services off, on.0978

When we are killing our bugs and rodents if they give us terms we can put it in here.0983

If they want to do on upon receipt they can give us a credit limit.0989

We can have a tax ID here for the vendors.0995

So whenever we pay them more than $600 a year we can actually issue a 1099 for their services and so forth.0999

So we can put that information in for them.1007

And so that is how we utilize these lists in QuickBooks.1012

The nice thing about it again is it is very uniform, universal. It looks very similar to the customer list.1020

So we can say OK to that. We have added West Valley pest control.1028

We have put in some additional information. We know that their dog name is Sam.1031

And we can track that so we have a more personal relationship with them.1035

That is our lesson on using lists.1040

Thanks again for visiting We will see you next time. 1044