ACC 210 Week 3 QuickBooks® Online Training Module 3: Banking, Payroll, Apps & Reporting Practice

ACC 210 Week 3 QuickBooks® Online Training Module 3: Banking, Payroll, Apps & Reporting Practice

Entire Course Link

https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM

 

 ACC 210 Week 3 QuickBooks® Online Training Module 3: Banking, Payroll, Apps & Reporting Practice
 

Part 1

Use the QuickBooks® Online sample company, Craig’s Design and Landscaping Services, to practice the transactions in Part 2 before entering them in your Grant Corporation books for submission.

Part 2

Use QuickBooks® Online to complete the following in Grant Corporation:

Create two customer invoices using the Customers Dashboard. USE THE DATES GIVEN and add the current year.

 

 

 

Oct 1 – Customer James A. Mitchell for 2 days of consulting services at $5,000/day, total $10,000. (Under Products and Services add Consulting Services, choose Service, save, and close)
 

 

Oct 10 – Customer Auto Dealer for 3 days of consulting services at $5,000/day, total $15,000.
 

 

Enter three expenses using the Vendors Dashboard. The Create Expense option can be found on right side, below the Action label, click the arrow next to Create Bill. Do NOT use the Create Bills option; this results in Accounts Payable.

USE THE DATES GIVEN and add the current year.

 

 

 

Oct 1 – $5,000 Rent Expense paid to Landlord for monthly rent.
 

 

Oct 3 – $1,000 Insurance Expense paid to the Insurance Company.
 

 

Oct 15- $10,000 Salaries and Wages Expense paid to Employees for the first half of the monthly wages.
 

 

Receive payment in full using the Customers Dashboard.

USE THE DATES GIVEN and add the current year.

 

 

 

Oct 15 – James A. Mitchell (Check #1403).
 

 

Oct 15 – Auto Dealer (Check #1258).
 

 

Run the following reports using the Reports Dashboard:

USE THE DATES GIVEN and add the current year.

 

 

 

Under Recommended Reports, click on Profit and Loss. Set transaction dates as October 1-31. 

 

 

 

Export the Profit and Loss Report as a Microsoft® Excel® file to your desktop.
 

 

 
 

 

Under Recommended Reports, click Expenses by Vendor Summary. Set transaction dates as October 1-31. 

 

 

 

Export the Expenses by Vendor Summary Report as a Microsoft® Excel® file to your desktop.
 

 

 
 

 

Under All Reports, click Review Sales, then click Run under Sales by Customer Detail. Set the transaction dates as October 1-31. 

 

 

 

Export the Customer Detail Report as a Microsoft® Excel® file to your desktop.
 

 

 
 

 

Analyze the reports to make sure they agree with the transactions in part 2. Hint: Net Income should equal $9,000. These entries need to be correct to continue with next week’s transactions.

Click the Assignment Files tab to submit the Profit and Loss, Expenses by Vendor Summary, and Customer Detail Reports.
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