Homework due December 8 1. Read and be prepared to discuss reading. "Insider Trading" 2. Read QuickBooks A Complete Course chapter 7 3. Software Challenge (10 points)- hand in a detailed description on how to carry out the following tasks in QuickBooks (use the Premier Edition General Business for this assignment): 1. You'd like to see a list of all estimates and credit memas made to customers 2. You'd like to institute a new policy whereby employees cannot accrue more than 20 vacation hours in any year. Can you carry out this new policy with the help of QuickBooks? 3. 5. One of your employees would like to know how much accrued vacation and sick time they have available. Your accountant needs to view all payroll information for the previous quarter so that she can audit your tax submission. How do you generate a PDF report detailing payroll transactions and email it to her? After conducting your physical inventory, you find that there are three items that need to be adjusted (two items to adjust the quantity on hand down and one item to adjust the quantity up). How do you do it and what effect will these adjustments have on you Net Income Statement? If you feel it's appropriate, add a new account as the Adjustment Account Part of your business involves service calls in which you bill your customers 5.50 per mile for miles driven to the customer's location. Is there a feature in QuickBooks that will help automate billing this expense? You need to review your firm's fixed assets to see if any need to be written off. Generate a list of fixed assets, sort the list by purchase date, and move the "Purchase Description" column immediately to the right of the "Item" column. 6. 7. 8. You are the COO of a merchandising firm, you realize that your ability to efficiently manage your inventory is crucial to the success of the business. Explain in detail how you would use the standard reports available in QuickBooks to manage Inventory. Make sure to discuss inventory ordering, obsolescence, physical inventories, inventory control and any other issue you feel to be important. Identi specific reports that you would recommend Homework due December 8 1. Read and be prepared to discuss reading. "Insider Trading" 2. Read QuickBooks A Complete Course chapter 7 3. Software Challenge (10 points)- hand in a detailed description on how to carry out the following tasks in QuickBooks (use the Premier Edition General Business for this assignment): 1. You'd like to see a list of all estimates and credit memas made to customers 2. You'd like to institute a new policy whereby employees cannot accrue more than 20 vacation hours in any year. Can you carry out this new policy with the help of QuickBooks? 3. 5. One of your employees would like to know how much accrued vacation and sick time they have available. Your accountant needs to view all payroll information for the previous quarter so that she can audit your tax submission. How do you generate a PDF report detailing payroll transactions and email it to her? After conducting your physical inventory, you find that there are three items that need to be adjusted (two items to adjust the quantity on hand down and one item to adjust the quantity up). How do you do it and what effect will these adjustments have on you Net Income Statement? If you feel it's appropriate, add a new account as the Adjustment Account Part of your business involves service calls in which you bill your customers 5.50 per mile for miles driven to the customer's location. Is there a feature in QuickBooks that will help automate billing this expense? You need to review your firm's fixed assets to see if any need to be written off. Generate a list of fixed assets, sort the list by purchase date, and move the "Purchase Description" column immediately to the right of the "Item" column. 6. 7. 8. You are the COO of a merchandising firm, you realize that your ability to efficiently manage your inventory is crucial to the success of the business. Explain in detail how you would use the standard reports available in QuickBooks to manage Inventory. Make sure to discuss inventory ordering, obsolescence, physical inventories, inventory control and any other issue you feel to be important. Identi specific reports that you would recommend
