After you have set up Microsoft Office Accounting 2008 and are ready to use it, you should become familiar with some of the most common tasks that you can accomplish with it.
Sell to customers
Create an invoice
In Office Accounting 2008 there are three main ways to create an invoice: Open a new invoice form, convert a quote to an invoice, and convert a sales order to an invoice. This topic steps through all three.
Sell products and services online
Accounting 2008 makes it possible for you to incorporate online sales into your system. From the Online Sales home page, you can perform all the tasks related to selling your products online, from signing in to an online marketplace to listing your items and downloading orders.
Receive a payment
When you receive a payment from a customer, you can apply it to any unpaid invoices. A payment might cover one or more invoices, or it might not completely cover an invoice. This topic steps through what to do when you receive a payment from a customer.
Set up sales tax
If your company is required to collect sales tax from customers and pay the collected taxes to a tax agency, you must activate the sales tax feature in Accounting 2008. This topic describes how to activate the sales tax feature in Accounting 2008.
Manage contacts in Outlook
Integrate Office Accounting with Business Contact Manager for Outlook
Learn how you can link Microsoft Office Outlook with Business Contact Manager and Accounting 2008 databases. Changes in Accounting 2008 records are reflected in Business Contact Manager for Outlook account records. The opposite is also true. Business Contact Manager for Outlook users with Accounting 2008 permissions can create quotes, sales orders, and invoices for Accounting 2008.
Sometimes you will pay for expenses and then record them later. This topic steps through how to record expenses paid for with check, cash, or credit card.
When you receive a bill for items that you have purchased, you can enter it into Accounting 2008. How you enter a bill into Accounting 2008 is determined by whether you created a purchase order or an item receipt first.
The Pay Bills form displays a list of your company's unpaid vendor bills. You can choose to pay individual bills or pay all of them. If you have set up online banking services, you can pay your bills by using the electronic payment method. This topic outlines how to use the Pay Bills form to pay vendor bills.
Payroll Suggestion for Microsoft Office Accounting
For your payroll needs, Microsoft suggests ADP's Payroll Services for small businesses, click here to learn more about Run Powered by ADP. Special Note for Office Accounting Professional Plus customers: You must activate your 12 month pre-paid payroll service by December 31, 2009 to take advantage of the pre-paid payroll service.* Please call 1-866-827-1619 to learn how to sign up.
*Only available to Office Accounting Professional Plus customers who are new payroll customers.
Set up a bank account
This topic helps you understand how to set up a bank account. After you set up a bank account, the account will be listed with other accounts that you can choose from when you write checks and perform many financial transactions.
Download bank transactions
To keep your account register in sync with your online bank account, you can download your transactions from your bank or financial institution to Accounting 2008.
Make a deposit
This topic steps through how to make a deposit and covers how deposits work in Accounting 2008.
Entering bank transactions in Accounting 2008 is done by recording activities in each account's bank account register. When you write or print a check, that transaction is entered into the account register for the account from which you are drawing the funds. This topic steps through how to write checks with Accounting 2008.
Reconcile a bank statement
When you receive a statement from a bank or other financial institution, you can match the transactions on the statement to the transactions recorded in the Accounting 2008 bank account register for an account. This topic steps through how to reconcile your bank account register with a bank statement.
Record a bank statement
An easy way to get started with Accounting 2008 is to record transactions from a bank statement. This topic steps through how to do it.
If you bank with a financial institution that supports online banking, and it is listed in the in the Accounting 2008 Set Up Online Banking wizard, you can set up your bank accounts in Accounting 2008 so that, depending on your bank's policy, you can pay bills and transfer funds online or download transactions. Read this topic to learn more.