Kelly Jennings has just started working full time in her new business, an advertising agency named Jennings & Associates and located in San Martin, California. Like many eager entrepreneurs, she started her business while working full time for another firm. At first, her billings were quite small. But as her client base and her billings grew, she decided to leave her job and set out on her own. Two of her colleagues and friendsCheryl Boudreau and Diane Murphysee Kelly's eagerness and dedication, and they decide the time is right for them, too. Cheryl and Diane ask Kelly if they can join her sole proprietorship as employees, and so together they leave the traditional corporate agency environment. Kelly knows that one of the first tasks she must accomplish is setting up an accounting system for Jennings & Associates. Also, she has just received a request from her banker to submit a balance sheet as documentation for a business loan. As a close friend you recommend she use QuickBooks Accountant, and you volunteer to help her get started. Kelly tells you that in 2014 she borrowed $5,000 to start the business. Now she is applying for a loan to help expand the business. She also reminds you that, although she did conduct some business in 2014, her first full-time month was January 2015. 1 A standard balance sheet as of December 31, 2014. 2 A standard balance sheet as of January 31, 2015. 3 A Transactions List by Date report for the month of January 2015 in landscape orientation. (Hint: This report is listed in the Report menu section labeled Accountant & Taxes.) 4 A summary balance sheet as of January 31, 2015, formatted in thousands and without cents and without the date prepared, time prepared, or report basis included. 5 A report of those transactions recorded in January 2015 that affected accounts payable. (Hint: Create a summary balance sheet and doubleclick accounts payable.)

Using QuickBooks Accountant Upon completion of this chapter, the student will be able to: Create a comparative balance sheet and a summary balance sheet Investigate detail supporting balance sheet items Use the Balance Sheet Report button bar Create a balance sheet as of a specific date other than the system date Print a balance sheet Case: Larry's Landscaping & Garden Supply It's your second day at your new job, and you arrive early. Scott is already hard at work at the computer. He tells you he is preparing for Larry's quarter year- end on December 31, 2014. Since this is the first time he will prepare financial statements using Quick Books Accountant, he's a little nervous. You recall from your accounting course that a balance sheet reports the assets, liabilities, and owners' equity of a company at a specific point in time As part of your continued training on QuickBooks Accountant, Scott asks you to watch what he does while he prepares the balance sheet. He explains that his immediate goals are to familiarize himself with how to prepare a balance sheet using Quick Books Accountant and to examine some of the valuable features that QuickBooks Accountant provides for helping managers analyze and inter- pret financial information. Creating a Balance Sheet You know from your business courses that the information on a balance sheet Video Demonstration can be presented in many ways. Scott tells you that QuickBooks Accountant provides four preset ways to present a balance sheet; QuickBooks Accountant also allows him to customize the way he presents the information. He decides to examine one of the preset balance sheets first. He chooses what QuickBooks DEMO 2A Creating a balance sheet Accountant calls the Standard Balance Sheet report. Scott is amazed at how rapidly Quick Books Accountant creates this balance sheet compared to how long it has taken him to create one manually in the past. As you both look over this balance sheet, Scott comments that-because he generated this information so quickly and with so little effort-he might now be able to add information to balance sheets that he didn't have time to include before. For example, he has always wanted to include comparative information on balance sheets to help him make better business decisions. Using QuickBooks Accountant Upon completion of this chapter, the student will be able to: Create a comparative balance sheet and a summary balance sheet Investigate detail supporting balance sheet items Use the Balance Sheet Report button bar Create a balance sheet as of a specific date other than the system date Print a balance sheet Case: Larry's Landscaping & Garden Supply It's your second day at your new job, and you arrive early. Scott is already hard at work at the computer. He tells you he is preparing for Larry's quarter year- end on December 31, 2014. Since this is the first time he will prepare financial statements using Quick Books Accountant, he's a little nervous. You recall from your accounting course that a balance sheet reports the assets, liabilities, and owners' equity of a company at a specific point in time As part of your continued training on QuickBooks Accountant, Scott asks you to watch what he does while he prepares the balance sheet. He explains that his immediate goals are to familiarize himself with how to prepare a balance sheet using Quick Books Accountant and to examine some of the valuable features that QuickBooks Accountant provides for helping managers analyze and inter- pret financial information. Creating a Balance Sheet You know from your business courses that the information on a balance sheet Video Demonstration can be presented in many ways. Scott tells you that QuickBooks Accountant provides four preset ways to present a balance sheet; QuickBooks Accountant also allows him to customize the way he presents the information. He decides to examine one of the preset balance sheets first. He chooses what QuickBooks DEMO 2A Creating a balance sheet Accountant calls the Standard Balance Sheet report. Scott is amazed at how rapidly Quick Books Accountant creates this balance sheet compared to how long it has taken him to create one manually in the past. As you both look over this balance sheet, Scott comments that-because he generated this information so quickly and with so little effort-he might now be able to add information to balance sheets that he didn't have time to include before. For example, he has always wanted to include comparative information on balance sheets to help him make better business decisions