and now we are going to enter our first few transactions you will see that when we record
transactions the accounts that we previously put in the chart of accounts will start showing up
in the trial balance for the money amounts of the transaction for example our first transaction will
be January 1 had had he deposited the total daily cash sales into the bank account so let's imagine
the total cash in the cash register was 10,000 dollars and when she brought it to the bank they
gave her deposit slip number 1 well what what will happen when we record this transaction in
the register well if we earned $10,000 in income from customers it means that daily cash sales will
show up on the trial balance for the first time as 10,000 and if the money was deposited in the
bank it means the cash and bank account from the chart of accounts will also show up on the trial
balance when we take a look at the transaction only up the trial balance we'll see the money
amounts daily cash sales will show up as 10,000 cash and bank will show up as 10,000 so let's see
how to record this if you a register window is open from the previous video that's fine if not
click banking use register and ok if your trial balance is open from the previous video that's
fine too if not click reports accountant in taxes trial balance don't forget to push the a button on
your keyboard to change the pull down menu choice 2 all ok readjust the trial balance your screen
is a little bit bigger than mine so I'm going to keep mine together and just click anywhere in the
window to bring that window forward now let's record the transaction click once on now once
again the way the register looks now there are two lines for every one transaction so we will record
the first transaction on these two lines first thing you always put is the date click once on
the calendar box to bring the date box I happen to be recording this in April of 2015 so I would have
to go all the way back to the month of January by clicking the back button and click the day
of the month the number that goes in this field when you click to put the number in this field
remove what QuickBooks puts and put the number on whatever the source document is in this case it's
deposit slip number zero zero zero one now there is no payee in this transaction so this pull down
menu we will leave blank because we're not paying a vendor however there is an account that we have
to associate with this transaction the reason why we're making this deposit is because we earned
income from the daily cash sales and the register so the account we choose from the pulldown list
represents the reason why click daily cash sales because this is a deposit we must put the money in
the deposit column not the payment column you must make sure that you put it here click deposit type
in the money amount now to save any information in a field a little box inside a hole window move
your finger to the top left of your keyboard and push the tab key when you push the tab key it will
save the little field without closing the window and when you push the tab key the cursor moves
over we now recorded all the information we need about this transaction when we click record we get
a warning message from QuickBooks you will get this warning message until we are able to shut
this off so for now for now just ignore this message and just click yes now when we bring
our trial balance forward we notice the results in the trial balance are the same as they were in the
animation a moment ago we noticed that the numbers are exactly what we expected now let's take a look
at our second transaction let's imagine on January 2 Haddie wrote check number one two wrecks repair
for fixing something in the store and she paid him five hundred dollars well if we pay a repair
for the first time that means repair expense the one that we put in the chart of accounts
is going to show up on the trial balance for the first time as five hundred dollars so what will
the trial balance look like after we record the second transaction well cash and Bank is going to
change into nine thousand five hundred because we just paid five hundred dollars and repair expense
will show up on the trial balance for the first time as five hundred dollars let's take a look
now let's record this in the register click on the calendar box and put the date January to click in
the number field and this time we happen to agree with the suggested number that QuickBooks gives us
because this is check number one the payee we can click this arrow and we can put whom we're paying
the money to in this case we're paying recs repair notice all of the vendors that you put on the
vendor list show up here now the reason why we're paying wrecks repair is what we'll put directly
under it when we click the account pull down menu choice notice when we click the account arrow all
of the accounts from our chart of accounts show up here we choose repair expense because that's the
reason for this check if it is a payment you have to be careful not to put it in the right column
you have to put it in the left column type in the number do not put a comma do not put a decimal
point just type in the number and push the tab key now we have everything for this transaction the
date the vendor the account the check make sure it says check number one be careful sometimes
it's tricky you have to go back there and $500 now when we click record again don't worry about
any other kind of pop-ups just read them and click past them so that we can bring forward
our trial balance and notice repair expense shows up for the first time as five hundred and cash and
bank went down by five hundred because we just paid five hundred from cash and Bank our last
transaction in this video will be January three Hattie wrote check number two to con Edison for
electricity five hundred dollars well that means cash and Bank is going to decrease and become
nine thousand and it means electric expense will show up for the first time on the trial balance as
five hundred dollars so let's take a look we'll put the date as January third make sure it says
check number two the people whom we pay or con Edison and the reason we're paying is electric
expense make sure you put the five hundred dollars in the payment column don't forget to push the tab
key to make sure you save the field after you type in information when we click record once
again whatever messages you get click whatever you need to go past these messages so that you
can bring forward your trial balance and notice the results are exactly as what we would expect