Follow these directions to set up QuickBooks? for the Module 3 Critical Thinking Assignment;Load the QuickBooks? disc.;Enter the information found on the disc sleeve when asked for the license and product number.;Once QuickBooks? is loaded, reboot your computer.;Once the computer is re-booted, click the icon entitled QuickBooks?, go through the agreement question(s), select ?create a new company,? and then select ?express set-up.?;Enter the company name in your assignment option choice.;Enter the industry: ?construction general contractor.?;Enter the type of company: ?sole proprietorship.?;Enter the Tax ID number as 99-1234567.;Select ?no employees but might have in the future.?;Enter your address, phone number;Wait for QuickBooks? to create your company.;Select the right-hand corner icon called ?start working.?;Select ?Home? from the list in the left-hand column. The home page will appear as follows;Source http://topnotchbookkeeping.com/2011/05/quickbooks-homepage-is-it-yours/;Among the icons on the screen (i.e., Vendors, Customers, Employees, Company, and Bank), select ?Chart of Accounts? under Company and a list of the company accounts will appear.;In the top ribbon click ?Edit? (second icon over from the top), and then from the drop-down menu select ?add a new account.?;Add two accounts?accounts payables and bank loan accounts?which are both loan-type accounts, label each accordingly.;Change the retainage receivables to account receivables.;Delete all expense accounts except payroll expenses, rent expense, telephone expense, and utilities.;Important items to remember;All dates used must be in the month preceding the current month.;Do not forget to hit ?save and close? after you input and file, and back up your company?s information often.;Always ensure that your input dates are last month?s dates. It is very important to do that, especially if you cannot find an input.;With the setup complete, you are now ready to begin your chosen Critical Thinking Assignment in QuickBooks?.;Option #2: Introduction to QuickBooks?: The Mini Construction Company Case;Assignment Template attached;Set up your QuickBooks? access, and then go to the QuickBooks? home page. Select ?chart of accounts? and enter each line item in the chart of accounts as follows;1st of month: Beginning cash is $50,000, beginning equity is $50,000.;5th of month: Construction in progress increase $3,200, corresponding accounts payable due in 10 days (Quick add: DEF Company, vendor).;10th of month: Furniture and equipment increase $6,000, corresponding account cash (Quick add: DEF Company, vendor).;16th of month: Construction income increase $10,000, corresponding account accounts receivables (Quick add: UVW, customer).;19th of month: Accounts receivable increase $2,900, corresponding account construction income (Quick add: UVW, customer).;20th of month: Loan from PQR Bank $4,000, corresponding cash account (Quick add: PQR Bank, other).;25th of month: Make individual cash entries (for each amount to corresponding expense items) for payroll expense $1,000, rent expense $1,000, telephone expense $300, and utilities expense $500 (Quick add and use for all: Misc., other).;Instructions;In an Excel worksheet, submit to the assignment area the standard balance for the end of last month for the Mini Construction Company;Go to the top ribbon called ?Reports? from Company and Financial and Balance Sheet Standard.;To export the chart of accounts to Excel, select the Excel tab and then select ?create a new worksheet.?;Save the file as your last name_ first name.
Paper#73967 | Written in 18-Jul-2015Price : $27