{"id":49193,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/introduction-to-quickbooks-need-in-12-hours"},"modified":"2017-08-16T12:25:53","modified_gmt":"2017-08-16T12:25:53","slug":"introduction-to-quickbooks-need-in-12-hours","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/introduction-to-quickbooks-need-in-12-hours\/","title":{"rendered":"Introduction to QuickBooks (need in 12 hours)"},"content":{"rendered":"<p><b>Option #1:&nbsp;Introduction to QuickBooks\u2122:&nbsp;Journal Entries for Merchandising Activities: Sales and Purchases&nbsp;<\/b><\/p>\n<p>Register for QuickBooks Online Simple Start 2015: <a href=\"https:\/\/qbo.intuit.com\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/qbo.intuit.com<\/a><\/p>\n<p>For PC and Mac. You may have to start with a free trial with a credit card and cancel directly after module 5 is completed<\/p>\n<p>Once QuickBooks\u2122 is loaded, you may have to reboot your computer.<\/p>\n<p>Here is the link to a number of training sources for Quickbooks:<a href=\"https:\/\/quickbooks.intuit.com\/accountants\/resources\/university\/training-for-accountants#qbo\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/quickbooks.intuit.com\/accountants\/resources\/university\/training-for-accountants#qbo<\/a><\/p>\n<p><b>&nbsp;1.&nbsp;Setting up company:<\/b> Go to Home page, select the widget to the direct top right of the word \u2018help\u2019 and select on the left side \u2018settings\u2019, then company setting. For each edit, hit the pen picture on the right hand side of each section. Enter the company name, Pit Bull Sings T-Shirt. Enter information as indicated below:<\/p>\n<p>Company address: c\/o CSU- Global; 7800 Orchard Road- Suite 200<\/p>\n<p>City:&nbsp; Greenwood Village, CO 80111<\/p>\n<p>State: CO<\/p>\n<p>ZIP code: 80111<\/p>\n<p>Phone Number: 999.999.9999<\/p>\n<p>Choose Accrual Basis<\/p>\n<p>Go to advanced setting and be sure everything is turned on except the accounting setting for the closing of the books. X out of this screen, which returns you to the home page.<\/p>\n<p>TIPS:<\/p>\n<ul>\n<li>In the home page, go to the top right hand corner, to the right of the name of the company, click the gear symbol, which is the main link for everything you need for changes.<\/li>\n<li>Input is on the left-hand side of the home page with links to customers, vendors, and transactions. Add one customer (see tight top corner for the button for new): Lair Corp. Add three vendors: Arotek, Sheng Freight, and Waters Corporation. Also in the left, in chart of accounts, be sure there is a current asset account called accounts receivable and a current liability account called accounts payable.<\/li>\n<li>For doing the journal entries below: Go to top panel, in the middle of the top of the screen, where there is a plus sign (+) and select journal entries found in the other section. In the cash on and credit to opening equity, give company an opening balance of $100,000 cash and equity.<\/li>\n<li>It is up to you to create the correct accounts, with the proper journal entries<\/li>\n<li>Important to remember:<\/li>\n<\/ul>\n<p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/p>\n<p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Do not forget to click on \u2018save and new\u2019 after you input and file.<\/p>\n<p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Backup your company information many times as you work. To do this, click the button at the bottom of each screen called: save and new<\/p>\n<p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Always check to be sure your input dates are correct. Transaction input date are on the top left side above the journal entryAlways best to record terms within the journal entry in the extra line provided to the right of A\/R or A\/P<\/p>\n<p>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Always best to record terms within the journal entry in the extra line provided to the right of A\/R or A\/P<\/p>\n<p><b>2. Prepare journal entries. Be sure all dates agree with the problem and are not today\u2019s date<\/b><\/p>\n<ul>\n<li>AUG 1, 2015 \u2013 Purchased T-shirts (BI= 0, other assets, inventory) from Arotek. Bought 1950 shirts at $3.846 each. Round to nearest dollar. Arotek, vendor, terms are 1\/10, n\/30.<\/li>\n<li>AUG 4, 2015 \u2013 At Arotek\u2019s request, Pit Bull Sings paid $200 cash to Sheng Freight for freight expenses on the August 1.<\/li>\n<li>&nbsp;AUG 5, 2015 \u2013 Sold merchandise to Lair Corp. 1040 T-shirts at $5.00 each. Lair Corporation, customer, is given credit terms to 2\/10, n\/60, FOB destination. The merchandise had cost of $3.846. Round to nearest dollar.<\/li>\n<li>AUG 8, 2015 \u2013 Purchased Specialized T-shirts from Waters Corporation. Bought 1000 shirts at $4.50 each. Waters Corporation, vendor, terms are 1\/10, n\/45.<\/li>\n<li>AUG 9, 2015- Pay Arotek Company for the shirts purchased on AUG 1. Round to nearest dollar.<\/li>\n<\/ul>\n<p><b>Instructions:<\/b>&nbsp;Enter above transactions into QuickBooks.&nbsp; To submit: go to home then reports then balance sheet and be sure your dates include August 1, 2015 to August 9, 2015. Also click on the inventory figure on the balance sheet to see the transactions within inventory. Cut and paste both of these reports into a document to submit.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Option #1:&nbsp;Introduction to QuickBooks\u2122:&nbsp;Journal Entries for Merchandising Activities: Sales and Purchases&nbsp; Register for QuickBooks Online Simple Start 2015: https:\/\/qbo.intuit.com For PC and Mac. You may have to start with a free trial with a credit card and cancel directly after <a href=\"https:\/\/www.benedictsol.com\/blogs\/introduction-to-quickbooks-need-in-12-hours\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-49193","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=49193"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49193\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=49193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=49193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=49193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}