Quicken for Contractors

Introduction, vii

1. The Right Tool for the Job, 1
Quicken Overview, 1
Check Register, 2
Accounting Methods, 4
Budgets (Estimates), 5
Checkfree and Intuits Online Banking, 5
Investments, 6
Links to Tax Software, 6
Hardware and Software Considerations, 7
Hardware, 7
Software, 8
The Role of Your Account, 9
What You Get in This Book and the Companion Diskette, 10
Custom Quicken Data Files, 10
Sample Forms and Templates, 11

2. Using Quicken Categories, Accounts and Classes, 13
Installing Quicken, 13
Using the Quicken Data Files, 13
Copying the Quicken Data Files, 15
Using Categories and Supercategories, 15
Types of Categories, 15
Category Lists for Quicken, 16
Working with Categories, 26
Supercategories, 32
Accounts, 35
Using Quickens Online Banking Features, 36
Creating New Accounts, 43
Modifying Existing Accounts, 63
Deleting Existing Accounts, 68
Classes (Jobs), 68
Creating New Classes, 69
Modifying Existing Classes, 70
Deleting Existing Classes, 71

3. Customizing Quicken, 73
Quicken Program Options, 75
QuickTabs Tab, 75
General Tab, 79
Settings Tab, 80
Register Options, 82
Display Tab, 82
Miscellaneous Tab, 84
QuickFill Tab, 86
Check Options, 88
Checks Tab, 88
Miscellaneous Tab, 89
QuickFill Tab, 90
Report Options, 92
Account Display, 92
Category Display, 92
Default Report Date Range, 93
Default Comparison Report Date Range, 93
Skip Create Report Prompt, 94
Use Color in Report, 94
Quick Zoom to Investment Reports, 94
Decimal Digits of the price and Shares, 94
Graph Options, 94
Use Patterns Instead of Colors, 95
Create All Graphs in Separate Windows, 95
Draw in 2D, 95
Show the Customize Bar, 95
Reminder Options, 96
Reminder Options, 96
Billminder Options, 97
Internet Connection Options, 99
Prompt me to update Quicken 98 on startup, 99
Prompt me to close my connection after XX minutes
of no activity, 100
Keep my Internet connection open after updating
Quicken 98, 100
Save Desktop, 100
  Assigning Classes, 107
Writing a Check to Pay a Job Expense, 108
Printing Checks, 110
Tracking 1099 Venders and Subcontractors, 116
Entering Deposits, 118
Customer Payment on Invoice, 118
Customer Deposits, 120
Customer Advance on Job, 121
Invoicing, 122
Entering Payroll Transactions, 122
Using Payroll Services, 123
Using Intuits QuickPay Plug-In, 123
Entering Payroll Transactions in Quicken, 124
Using Scheduled Transactions, 124
Creating New Scheduled Transactions, 124
Modifying an Existing Scheduled Transaction, 126
Deleting an Existing Scheduled Transaction, 126

5. Job Costing and Estimating with Quicken, 131
Estimating (Budgeting), 132
Setting Up a Budget, 133
Job-Cost and Budget Reports, 135
Job-Cost Reports, 135
Budget Reports, 139

6. Using Memorized Transactions, 143
Why Use or Create Memorized Transactions? 144
Working in the Memorized Transaction List Window, 145
Using a Memorized Transaction, 146
Memorized Transactions Included on the Companion Diskette, 147
Special Transactions, 148
Deposits, 149
Non Job Payments (NON JOB PMTS.), 152
Job Vender Payments, 153
Memorized Transactions for Payroll Functions, 157
Creating a New Memorized Transaction, 165

7. Using Memorized Reports, 169
Memorized Report Basics, 169
Memorized Reports Included in the Quicken Data Files, 172
1099 Detail Report (Vender 1099 checks), 175
Budget Report-Job___(Budget-vs-Acctual), 177
Cash Flow Report by Month(Summary by Category), 178
Income & Expense by Quarter (Summary by Category), 180
Job Detail Report-Job___(Job Income_Expense), 181
Job Summary Report-Job___(Activity by Month), 183
Jobs Summary (Activity by Job), 185
P/R Expense Report (Summary by Month), 186
P/R Withholding Report (Summary by Month), 188
Payroll Employee Report (Wages_withholding), 189
Payroll Expense Report (Summary by Employee), 191
Payroll Tax Report, 192
Transaction History by Name (All transactions), 194
  Unprinted Checks-Detail by Job (Job unprinted checks), 195
Unprinted Checks-Detail by Vendor (All unprinted checks), 197
Unprinted Checks-Summary by Vendor (All unprinted
checks), 198
Wage & Burden Allocation (Detail by Category), 199
Creating a New Memorized Report, 201

8. End-of-Month Procedures, 203
Reconcile the Checkbook(s), 203
Ensure Accuracy of Data Entry, 208
Printing Financial Reports, 208
Profit & Loss Statement, 2

Index, 223