In this assignment, you will complete various accounting tasks using QuickBooks Online to demonstrate an understanding of the skills you have acquired over the last unit.

Instruction

Complete the tasks below, then upload your work to Dropbox for your teacher to review.

Assessment

Log in to your QuickBooks Online account to access the Big Time Fitness Centre company you have been working on throughout these QuickBooks lessons.

Complete the following:

1. Add three new customers to the company. You can make up the names and contact details of these customers.
2. Add three new suppliers to the company. You can make up the names and contact details of the three suppliers.
3. Record the following 10 business transactions. Note: just use your current date for the date of all transactions.

Business Transactions

1. Create an invoice for customer Alice Wonderman for a Fitness Assessment and a monthly Silver Membership. Save and Send the Invoice.
2. Create an invoice for one of the new customers you added to the company earlier. You select the services and amounts. Save and Send the Invoice.
3. Create a new Bill for supplier Edmonton Fitness Outsourced. Use Subcontractors Expense, services received for 1200.00 plus HST. Save and Close Bill.
4. Create a new Bill for one of the new suppliers you added to the company earlier. You select the expense and amounts. Save and Close Bill.
5. Receive a cash payment from Alice Wonderman for the full Invoice created earlier.
6. Receive a cash payment from the new customer you Invoiced earlier. Accept the full payment value of the Invoice.
7. Pay the full Bill amount owed to Edmonton Fitness Outsourced.
8. Create an invoice for one of the other new customers you added to the company earlier. You select the services and amounts. Save and Send the Invoice.
9. Create a new Bill for one of the other new suppliers you added to the company earlier. You select the expense and amounts. Save and Close Bill.
10. Create a new Bill for supplier Staples, for Promotional items, with a cost of $875.00 plus HST.

4. Create the following reports by exporting them to an Excel file:
5. Trial Balance
6. Profit and Loss (Income Statement)
7. Balance Sheet

Reports

5. Evaluate the financial status of Big Time Fitness Centre. Refer to the reports generated as needed.
6. Upload all three Excel reports and your evaluation to the QuickBooks Unit Assignment dropbox.

Rubric

Use the following rubric to understand the expectations for the assignment, and prepare your submission.