Read and be prepared to discuss Are We Living in an MMT World? Not Yet" Read QuickBooks- A Complete Course Chapter 3 Accounting Transactions (10 points) Software Challenge (20 points)- hand in a detailed description on how to carry out the following tasks in QuickBooks: 1. After entering a series of customer invoices, generate a General Journal report to view the accounting journal entries for the invoices. AAAA 2. Use the QuickBooks Find feature to locate all of the invoices for a particular customer in a fiscal year 3. You would like to know the total sales for a particular customer in the previous fiscal year. 4. Using the report you just generated, use the QuickZoom feature to view the first invoice on the report. 5. Export your report to Excel, include an instruction sheet on exporting tips, and maintain the original QuickBooks formatting as much as possible. 6. Demonstrate the Quick Add feature for adding a new customer in QuickBooks. What are the advantages and disadvantages of entering a new customer in this way? 7. You'd like to start recording notes regarding a customer's account (e.g. record information about sales calls made) so that other users of QuickBooks can see them and add additional notes as needed 8. Generate a pie chart with a breakdown of sales by customer for the second half of the previous fiscal year. 9. Demonstrate how to record a partial payment on a customer's outstanding invoice. Rather than leave the unpaid balance open in A/R, write the balance off. 10. Prepare customer statements for all customers with open invoices, regardless of due date. Have the statements printed with invoice details and the due date 11. Modify the previous report (question 10) to exclude any customers that owe less than $500 12. Business has been slow recently and you'd like to contact all of your customers (both active and inactive) to drum up additional potential business. Generate a report that will list all of your customer contacts so you can review them and decide which ones you'd like to call 13. You'd like to view a report that will detail a list of all customers that have sent your company checks that were returned by the bank. 14. You've hired a new Accounts Receivable clerk, and you'd like your new hire to view several QuickBooks tutorials dealing with Sales and A/R. 15. You'd like to prepare collection letters to be sent to customers with account balances exceeding 61 days Accounting Transactions-For each of the following transactions, write the accounting double entry (if any) for each. Assume that the company you are working on is a service-based company. Record account names and identify each as a debit or credit- include dollar figures only where indicated. Refer to a Chart of Accounts if needed (10 points) For difficult journal entries: Think from a business perspective first Which accounts are affected? What are the debits and credits? 1. Record a credit memo against an invoice already sent to a customer. The invoice has not been paid yet. 2. Record a cash sale of $505.63 using QuickBooks. 3. Delete an invoice- service not yet provided to the customer, no cash received. 4. Record a partial payment of $1,000 made by a customer on a $2,500 invoice. 5. Deposit cash from Accounts Receivable cash receipts in your firm's checking account. Read and be prepared to discuss Are We Living in an MMT World? Not Yet" Read QuickBooks- A Complete Course Chapter 3 Accounting Transactions (10 points) Software Challenge (20 points)- hand in a detailed description on how to carry out the following tasks in QuickBooks: 1. After entering a series of customer invoices, generate a General Journal report to view the accounting journal entries for the invoices. AAAA 2. Use the QuickBooks Find feature to locate all of the invoices for a particular customer in a fiscal year 3. You would like to know the total sales for a particular customer in the previous fiscal year. 4. Using the report you just generated, use the QuickZoom feature to view the first invoice on the report. 5. Export your report to Excel, include an instruction sheet on exporting tips, and maintain the original QuickBooks formatting as much as possible. 6. Demonstrate the Quick Add feature for adding a new customer in QuickBooks. What are the advantages and disadvantages of entering a new customer in this way? 7. You'd like to start recording notes regarding a customer's account (e.g. record information about sales calls made) so that other users of QuickBooks can see them and add additional notes as needed 8. Generate a pie chart with a breakdown of sales by customer for the second half of the previous fiscal year. 9. Demonstrate how to record a partial payment on a customer's outstanding invoice. Rather than leave the unpaid balance open in A/R, write the balance off. 10. Prepare customer statements for all customers with open invoices, regardless of due date. Have the statements printed with invoice details and the due date 11. Modify the previous report (question 10) to exclude any customers that owe less than $500 12. Business has been slow recently and you'd like to contact all of your customers (both active and inactive) to drum up additional potential business. Generate a report that will list all of your customer contacts so you can review them and decide which ones you'd like to call 13. You'd like to view a report that will detail a list of all customers that have sent your company checks that were returned by the bank. 14. You've hired a new Accounts Receivable clerk, and you'd like your new hire to view several QuickBooks tutorials dealing with Sales and A/R. 15. You'd like to prepare collection letters to be sent to customers with account balances exceeding 61 days Accounting Transactions-For each of the following transactions, write the accounting double entry (if any) for each. Assume that the company you are working on is a service-based company. Record account names and identify each as a debit or credit- include dollar figures only where indicated. Refer to a Chart of Accounts if needed (10 points) For difficult journal entries: Think from a business perspective first Which accounts are affected? What are the debits and credits? 1. Record a credit memo against an invoice already sent to a customer. The invoice has not been paid yet. 2. Record a cash sale of $505.63 using QuickBooks. 3. Delete an invoice- service not yet provided to the customer, no cash received. 4. Record a partial payment of $1,000 made by a customer on a $2,500 invoice. 5. Deposit cash from Accounts Receivable cash receipts in your firm's checking account