NB: Written explanations required!!!

Project: Skortis Landscaping Justin Skortis owns a landscaping company, Skortis Landscaping, that offers planning, installation, and monthly landscape maintenance services, Justin has decided to start using QuickBooks and has hired you as his bookkeeper. Your first project is to create list entries before entering customer, vendor, and banking transactions. Once you've set up the lists, you'll enter a variety of transactions for January 2022. Note! This project is broken down into sessions. At the end of each session, you'll produce deliverables for evaluation. You will not be given specifics in many cases, just as you will not be given specifics when working with your own company. You may need to add new customers, vendors, or other information "on the fly" and use your own problem-solving and reasoning skills Use QuickBooks' help and search features as needed. Now, let's get started! Session 1: The Company File and Lists In this session, you will create the new company file for Skortis Landscaping and set up the needed lists Customers & Jobs, Vendors, Items, Chart of Accounts, and various profile lists. Your list entries should match those displayed in the tables below, so you may need to both add and delete entries for each list Company Data Create a new company file using the Detailed Start option, soving it as: CH06_Skortis Landscaping B Projects SKORTIS LANDSCAPING, LLC 876 MAIN STREET POWAY, CA 92064 COMPANY INFORMATION Tax ID Industry Company Organization qu qu qu y First Month of Fiscal and Tax Year Administrator Password 98-7654321 Lawn Care or Landscaping Single-member LLC January Password1 (858) 555-4589 SKORTISLAND@EMAIL.COM Invoices Progress invoicing Manage bills you owe Do you want to track time in QuickBooks? Do you have employees? 200 QuickBooks Desktop 2021 Chapter 6: Bringing It All Together: Service Project Yes No Yes Yes Yes, W-2 employees (cont.) WEEK 2 A/10/2022 /11/2022 3/12/2022 1/13/2022 1/14/2022 1/15/2022 Pay all bills due by 1/15/2022 (checks to be printed), print all checks in the queue (first check number is 1893), and deposit all funds being held in Undeposited Funds to Checking CHECK FIGURE Checking $45,310.75 A/R $330.00 A/P $348.97 Visa-0319 $392.65 WEEK 3 1/17/2022 Write a check to Office Superstore for $64.39 in office supplies and enter the number as 1894. 1/20/2022 1/21/2022 1/18/2022 Create an invoice for Exploration Travel for 4 hours of design and 12 hours of installation. 1/19/2022 Enter a sale for Victoria Martusheff, paid for by check #2017, for 4 hours of yard care. 11/22 Purchase a set of hand tools from eBay for $90.43 using PayPal to pay for it. Create an Invoice for Twin Peaks Realty for 9 hours of design work and 25 hours of installation. Pay all bills due by 1/22/2022 (use Credit Card as the Payment Method) and deposit all funds being held in Undeposited Funds to Checking. CHECK FIGURE Checking $45,446.36 A/R $3,320 00 A/P $0.00 Visa-0319 $741.62 1/22/2022 Enter a credit card charge for $175 for a 1-day tractor rental, payable to McCall Equipment & Tools. (Use Equipment Rental for Jobs as the account.) Enter a bill for 3 bags of mole repellant and 4 bags of lawn fertilizer from Green Touch Nursery Create an invoice for Irie Spaeth for 2 hours of installation and 4 hours of yard care. 1/25/2022 Receive payments for the full amount due from Mariner's Park, Inc., (check #3280) and Jurassic Ventures (check #1090) Make a cash sale to Maddy Gessford for 5 hours of yard care. 1/26/2022 1/27/2022 WEEK 4 1/24/2022 Enter a bill for 5 spools of monofilament line from McCall Equipment & Tools Enter an invoice for Mariner's Park, Inc. for 5 hours of installation and 7 hours of maintenance. Enter a bill for $1,875 to Rancho Properties for February 2022 rent. 1/28/2022 1/29/2022 Receive payments for the full amount due from Irie Spaeth (check #763), Exploration Travel (check #1643), and Mariner's Park, Inc. (check #3291) Pay all bills due by 1/31/2022 (checks to be printed), print all checks in the queue (first check number is 1895), and deposit all funds being held in Undeposited Funds to Checking CHECK FIGURE Checking $45,966.36 A/R $2,030.00 A/P $0.00 Visa-0319 $741.62 Enter a sale for Maddy Gessford, paid for by check #834, for 3 hours of Installation and 6 hours of yard care. 7/1/22 K'Stan fice Session 2: Transactions 2057 Deliverables Justin has asked you the following questions. For your response, you'll provide him with certain reports. (Hint: Display the Report Center in list view.) Note! If your class is using Quick Grader, be sure to export the reports to Excel. QG CH6-6: What payments and invoices make up each customer's current balance? CH6-7 What transactions has my company had with each vendor in January 2022? CH6-8: Would you print me a list of all deposited and undeposited payments for January 2022? OG OG QG CH6-9 What checks have been written, including the details of each one for January 2022? Session 3: Wrap It Up Complete the tasks required to address these items: The invoice for Twin Peaks Realty dated 1/21/2022 should have been for 8 hours of design work and 23 hours of installation. Correct the invoice to reflect this change. While reviewing your source documents, you realize that the bill from Bark Girls on 1/6/2022 for $220.25 was incorrectly entered into QuickBooks for $202.25. You received a damaged bag of mole repellant from Green Touch Nursery. The vendor issued you a credit on 1/31/2022 for $56.15 to account for the damaged goods. You will use this credit when paying a future bill to the vendor. On January 17, 2022, the bank advised you that check #3280 for $520.00 from Mariner's Park, Inc., was returned for nonsufficient funds. A $35 fee has been charged to your account. Pass this charge on to the customer. On 1/31/2022, pay all bills in Accounts Payable (checks to be printed) and print all checks in the queue (first check number: 1898). Reconcile the checking account using this bank statement: 206 QuickBooks Desktop 2021 Chapter 6: Bringing It All Together: Service Project Session # 1 Insert your last name in front of Skortis Landscaping. Do not create a password for the administrator. Keep Accrual as the accounting basis. After creating the company and before working on the Bank and Credit Card Accounts section, set yourself up as the External Accountant. Use your last name as the username. Log off and log back on using your credentials (username and password). Customer Types/Subtypes; Vendor Types; Payment Methods; and Terms List Entries The lists must look exactly as they do on page 202 of the printed textbook or page 69 of the eBook. Use what you can, add what you appear in ne Bill From Tela. Session #2 Perform all tasks as directed. Session #3 You must run the reports on the Accrual Basis and not the Cash Basis. Export the following reports to an Excel workbook labeled [YourLastName]-QB Project 1: Audit Trail Report (From 2/1/2022 to the day you run it) Balance Sheet as of 1/31/2022 Profit and Loss for January by week. Create a portable company file. Name it [YourLastName]-QB Project 1. Upload both the Excel workbook and the portable company file Here. Please include the username and COMPANY INFORMATION (cont.) What do you sell? Services only Sales tax Estimates Statements JOE No Visa-0319 Yes Yes BANK AND CREDIT CARD ACCOUNTS Account Name Account Number Checking Savings PayPal Turn off past and future date warnings in the Accounting category of the Preferences window before creating these accounts: 2009630-11 2009630-99 skortisland@email .com 4444 2000 3000 0319 QuickBooks Start Date Use the Chart of Accounts information that follows to choose accounts to include/ exclude. Basis CHART OF ACCOUNTS Income Design Services Installation Services Maintenance Services Cost of Goods Sold Equipment Rental for Jobs Material Costs Merchant Account Fees Tools and Small Equipment Worker's Compensation Insurance 21765 12/31/2021 Opening Balance Opening Balance Date 43,208.45 12/31/2021 127,402.78 12/31/2021 265.98 12/31/2021 Cash (this is set in the Preferences window in the Reports & Graphs category) Make sure your Chart of Accounts is set up with these income, cost of goods sold, and expense accounts, You can add many of these accounts during the setup process. Expenses - Advertising and Promotion Auto and Truck Expenses Bank Service Charges Business Licenses and Permits Computer and Internet Expenses Depreciation Expense Insurance Expense Interest Expense Meals and Entertainment 12/31/2021 . Office Supplies Payroll Expenses Postage and Delivery Professional Fees Rent Expense Repairs and Maintenance Telephone Expense Uniforms Utilities Session 1: The Company File and Lists 201 VENDORS Company/ Name Bark Girls/ Jillian Murphy Green Touch Nursery/ Hwan Park Rancho Properties / Ayana Chahine Hunter Cellular/ Rick Hunter CA Tax Authority McCall Equipment & Tools / Dee Dee McCall Address Mole repellant 18309 Industrial Way Poway, CA 92064 Lawn fertilizer 75 Greens Circle San Diego, CA 92127 16793 Club Pkwy San Diego, CA 92128 7832 Pennoyer Place Portland, OR 97210 309 Terwilliger Drive Sacramento, CA 95815 10923 Devane Lane Poway, CA 92064 Phone Monofilament Line (858) 555-1059 Yard Safe natural, organic mole repellant, 10 lbs. (858) 555-0226 SERVICE ITEMS (NON-TAXABLE) Item Name Design Installation Yard care Maintenance Green Touch Specialty Lawn Food, 33 lbs. String trimmer line, 3 lb. spool (858) 555-7822 (503) 555-2098 NON-INVENTORY ITEMS (NON-TAXABLE) Item Name Description (916) 555-6736 Description Landscape design services Landscape installation Residential yard maintenance Commercial landscape maintenance (858) 555-1984 Preferred Vendor Green Touch Nursery Green Touch Nursery Account No./ Payment Terms PE-734/ Due on receipt McCall Equipment & Tools 12-689-UV/ Net 10 78-453/ Due on receipt 430-320192-67 /Net 10 987-6543-2/ Net 30 LS-1991/ Due on receipt Rate $45.00 $65.00 $50.00 $65.00 Rate $56.15 $45.13 Type $34.00 Suppliers Suppliers Service Providers Service Providers Account Design Services Installation Service Maintenance Services Maintenance Services Tax Agency Suppliers Account Materials Costs Materials Costs Tools and Small Equipment Note! You will use the Preferred Vendor information when creating the purchase orders. It does not need to be entered in the New Item window. Session 1: The Company File and Lists 203 Statement of Accounts 1/1/2022-1/31/2022 Checking Account #2009630-111 Total Deposits: Beginning Balance: Date Transaction Type 1/1/2022 Beginning Balance 1/8/2022 Check 1892. 1/8/2022 Deposit 1/15/2022 Check 1893 1/15/2022 Deposit 1/17/2022 NSF Check 1/17/2022 NSF Fee 1/17/2022 Check 1894 5,300.00 43,208.45 1/22/2022 Deposit 1/29/2022 Check 1895 1/29/2022 Check 1896 1/29/2022 Deposit 1/31/2022 Interest Earned 1/31/2022 Service Charge 1/31/2022 Ending Balance Payment Total Payments: Ending Balance: 202,25 230,45 520.00 35.00 64.39 170.00 1,875.00 14.95 Bates Bank 21 Poway Ranch Road Poway, CA 92064 (858) 555-2999 Deposit . 280.00 2,255.00 200.00 2,565.00 45.72 3,097.09 45,442.13 Balance CHECK FIGURE Checking $45,424.13 A/R $2,410.00 A/P-$56.15 Visa $741.62 43,208.45 43,006.20 43,286,20 43,055.75 45,310.75 44,790.75 44,755.75 44,691.36 44,891.36 44,721.36 42,846.36 45,411.36 45,457.08 45,442.13 45,442.13 . Deliverables Justin has asked you the following questions. For your response, you'll provide him with certain reports. (Hint: Display the Report Center in list view.) Note! If your class is using Quick Grader, be sure to export the reports to Excel. QG CH6-10: What transactions were cleared or outstanding from the January 2022 checking account reconciliation? I need to see the details of each transaction. QG CH6-11 What are the sales to each customer and job, broken down by transaction, for January 2022? QG CH6-12 How much money did my company make or lose in January 2022? QG CH6-13: What is the value of my company, showing me the individual balances for each account, as of January 31, 2022? Session 3: Wrap It Up 207 CUSTOMER & VENDOR PROFILE LISTS Vendor Types Customer Types Residential Commercial CUSTOMERS Customer / Name Mariner's Park, Inc/ Phoebe Martinez Maddy Gessford Nathanial Jones Jones Jurassic Ventures/ Daniel Bennett Debit Card PayPal (create an "Other" type) When entering the customers, be sure to copy the addresses to the Ship To fields. Note! Make sure you enter the customers as listed by first name and then last name. CASTELL Exploration Travel / Joseph Schmidt Victoria Martusheff Inie Spaeth Service Providers Subcontractors Suppliers Twin Peaks Realty/Lily Eberle . Tax Agency Address 1250 1st Ave. 5. San Diego, CA 92128 2016 Ricardo Place Poway, CA 92064 FROWdy, 590 Piano Drive Poway, CA 92064 789 Epicodus Way San Diego, CA 92128 4517 Hubbard Place San Diego, CA 92131 Payment Methods Cash Check . MasterCard Visa 805 Fox Place San Diego, CA 92127 1456 Pine Street Poway, CA 92064 Phone (858) 555-3300 (858) 555-1859 18 Costa Rica Drive (858) 555-4788 Poway, CA 92064 (858) 555-2201 (858) 555-0857 (858) 555-6429 (858) 555-3319 (858) 555-2018 Terms Net 10 Net 10 Due on receipt Net 10 Net 10 Due on receipt Due on receipt Net 30 Terms List Entries 1% 10 Net 30 2% 10 Net 25 Due on receipt Net 10 Net 30: 202 QuickBooks Desktop 2021 Chapter 6: Bringing It All Together: Service Project Customer Type Commercial Residential Residential Commercial Commercial Residential Residential Commercial ELEMBELE 00000000 11 16 16 TO SIC Upload both the Excel workbook and the portable company file Here. Please include the username and last password you used. IMPORTANT Spelling is important. Periods for abbreviated words matter. You must perform the work as the External Accountant. Do not edit the Admin user. Late Submission Penalty 10% per 24-hour period or fraction thereof. No submissions accepted after July 10. Previous Next QB Project 1-R... umbia.instructure.com need, and make the types not in use as inactive. Customers If the customer is an individual, enter its name in the Customer Name field exactly as given, e.g. Phoebe Martinez. If the customer is a company, use the company name as the list name; not the name of the contact. The name of the customer must display in the Bill To field. Vendors If the vendor is a company, use the company name as the list name and not the name of the contact. The name of the vendor must appear in the Bill From field. Session #2 Deliverables Justin has asked you the following questions. For your response, you'll provide him with certain reports. (Hint: Display the Report Center in List view.) Note! If your class is using Quick Groder, be sure to export the reports to Excel, including the identifiers (e.g., "CH6-1") in the filenames QG CH6-1: What are the names of each of my company's accounts? QG CH6-2: What is the contact information and current balance of each customer? QG CH6-3: What is the phone number for each vendor? QG CH6-4: What are the due dates and discounts available for customer payments and payments to vendors? QG CH6-5 What is the price of each item or service my company sells? Session 2: Transactions Enter these transactions for Skortis Landscaping for January 2022. Create relevant memos for each transaction and Quick Add any new list entries. (Hint: To add the Create Sales Receipts task icon to the Home Page, go to the Company Preferences tab of the Desktop View category.) WELCOME TO Create an invoice for Mariner's Park, Inc., for 8 hours of maintenance work. Enter a bill from Hunter Cellular for $230.45 Enter a cash sale for Nathanial Jones for 2 hours of installation work and 3 hours of yard care: Enter a bill from Bark Girls for a load of bark for $202.25. (Use Materials Cost as the account.) Create an invoice for Jurassic Ventures for 7 hours of design and 18 hours of installation. Pay all bills due by 1/8/2022 (checks to be printed), print all checks in the queue (first check number is 1892, and deposit all funds being held in Undeposited Funds to Checking.. CHECK FIGURE Checking $43,286.20 A/R $2,005.00 A/P $230.45 Visa-0319 $217.65 WEEK 1 1/3/2022 1/4/2022 A/5/2022 1/6/2022 /7/2022 1/8/2022 Note! Check figure values come from the Chart of Accounts (which is accrual basis), not a balance sheet report (which for this company is cash basis). 204 QuickBooks Desktop 2021 Chapter 6: Bringing It All Together: Service Project QB Project 1-R... umbia.instructure.com week. Create a portable company file. Name it [YourLastName]-QB Project 1. Upload both the Excel workbook and the portable company file Here. Please include the username and last password you used. IMPORTANT Spelling is important. Periods for abbreviated words matter. You must complete the tasks as the External Accountant. Do not edit the administrator user. Previous Next