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QuickBooks Pro 2014: Unit 1 Comprehensive Learning Project

Unit 1 Comprehensive Project


Putting It All Together

In this exercise, you will synthesize all you have learned in Unit 1 (Lessons 15). You will look at the
information that has been compiled for an expanding auto detailing business and then process it in
QuickBooks.

Your instructor may assign this as either an individual or a group exercise. If you are completing this
project individually, you will complete every step. If you are working in a group, you will first need to
determine who will serve in each of these three roles:

Administrator [A]
Accounts Receivable Representative [R]
Accounts Payable and Payroll Representative [P]

You will be keeping the books for the first month for the company, which will be broken down into
sessions. At the end of each session, you will produce deliverables and provide them to your
instructor for evaluation. You can save these deliverables as PDF files or print them, depending on your
own class instructions. 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 to complete the project.
You are also welcome to use the help and search features in QuickBooks to accomplish the tasks. Now,
lets get started!

Case Study: Rugged Cross Auto Detailing


Martin Beatty has owned and operated a small automobile detailing
business out of his home for three-and-a-half years. His business has
grown, and he is no longer able to serve his customer base from his
converted garage facility. Martin is looking for a commercial building
to lease from which to run his business. When the move is complete,
Martin plans to employ four full-time detail specialists.

Martins wife, Bridget, has managed the business books since the
business opened more than three years ago. She has been using
spreadsheets that came with her home computer but is interested in
a software package that will expand as the business grows.
QuickBooks received high reviews and was recommended at a small-
business seminar she recently attended.

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QuickBooks Pro 2014: Unit 1 Comprehensive Learning Project

Session #1: The Company File and Lists


[A] As Administrator, you are responsible for creating the new company file based on the following
information. If you are working in a group, set up yourself as the administrator and your
teammates as additional users. Grant permissions for each user account based on the
responsibilities of each position. (You may wish to look through the entire assessment to
determine what access each will need.) Since you will be entering transactions in the past, make
sure to turn off the Date Warning preferences. Examine the Chart of Accounts created for your
company, and then make sure there is an appropriate income account for each of the types of
service that Rugged Cross provides as well as an expense account for the non-inventory items
(i.e.Job Materials). Make sure to also delete unnecessary accounts. Finally, set up the bank
and credit card accounts outlined below, and set up the company to use the cash basis of
accounting.

[R] As the Accounts Receivable team member, you are responsible for setting up all of the
customers listed below. In addition, you will need to set up the service items that will be
displayed on invoices and sales receipts.

[P] As the Accounts Payable team member, you are responsible for setting up all of the vendors
listed below. In addition, you will need to populate the following profile lists: Vendor Type List,
Customer Type List, Payment Type List, and the Terms List. Finally, you will assist the
Administrator by setting up the non-inventory items that the company will be using.

Session #1: Data

Company General Information


Name: Rugged Cross Auto Detailing
Phone: (406) 555-5192; Fax: (406) 555-3172
Address: 18071 Hamburg Avenue, Anaconda, MT 59711
Fiscal year: June
Tax year: January; Tax form: 1040 (Sole Proprietorship)
QuickBooks start date: 5/31/2014
Federal EIN: #99-9999999
Basis: Cash
State ID: #999-9999-9
Industry: Automobile Sales or Repair

Bank Accounts
Checking: Deer Lodge County Credit Union, Acct. #4673-85, Balance as of 5/31/14: $13,265.72
Savings: Deer Lodge County Credit Union, Acct. #4673-02, Balance as of 5/31/14: $42,105.01
Credit Card: Copper City Bank Visa, Acct #4000 9999 7777 3333, Balance as of 5/31/14: $0

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QuickBooks Pro 2014: Unit 1 Comprehensive Learning Project

Chart of Accounts

Delete the following accounts:


Account

Parts Purchases
Equipment Rental
Ask My Accountant

Add the following accounts:


Account Account Type

Cleaning Service Income Income


Detail Service Income Income
Repair Service Income Income
Job Materials Cost of Goods Sold

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QuickBooks Pro 2014: Unit 1 Comprehensive Learning Project

Customers
Name/Company Address Phone Terms Type

John McNay 2118 Hagen St. (406) 555-2195 Due on Receipt Referral
Anaconda, MT 59711
Dan Greany 102 Copper Road (406) 555-6103 Due on Receipt Internet
Anaconda, MT 59711
Dan Thomas 1407 West 4th St. (406) 555-1254 Net 20 From Ad
Anaconda, MT 59711
Annette Helsper 1305 West 3rd St. (406) 555-5928 Due on Receipt Referral
Anaconda, MT 59711
Pam Swanson 246 Birch St. (406) 555-6203 Net 15 Referral
Anaconda, MT 59711
Mike McCollough 955 Eagle Mtn. Dr. (406) 555-1093 Net 20 Internet
Anaconda, MT 59711
Larry Bloodneck 1104 East Park St. (406) 555-3397 Due on Receipt Internet
Anaconda, MT 59711
Mark Biggs 496 Mt. Baldy Rd. (406) 555-5981 Due on Receipt From Ad
Anaconda, MT 59711
Sean Murphy 1106 West Park St. (406) 555 1942 Due on Receipt From Ad
Anaconda, MT 59711
Leslie McGrevy 507 West 3rd St. (406) 555-8851 Net 15 Internet
Anaconda, MT 59711
Mike Carson/ 4201 East 6th St. (406) 555-9441 1%10 Net25 Referral
Carson Car Sales Anaconda, MT 59711
Erika Jenson/ 331 Pine St. (406) 555-7344 2%15 Net30 Referral
Jenson Auto Wholesalers Anaconda, MT 59711

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QuickBooks Pro 2014: Unit 1 Comprehensive Learning Project

Vendors
Company/Contact Address Phone Acct. No. Terms Type

Sullivan Insurance Co./ 206 West 4th Street (406) 555-2195 B22931 Net 30 Insurance
Colleen Sullivan Anaconda, MT
59711
Smelter City Power and 201 West 3rd St. (406) 555-4431 129-774 Net 15 Utilities
Gas/Steve Hasart Anaconda, MT 59711
Crown Property 4213 Salem Street (406) 555-7534 C420 Due on Other
Management/ Anaconda, MT 59711 Receipt
Brian Ramsey
Anaconda Water Works/ 1104 West 4th Street (406) 555-3842 5529-1 Due on Utilities
Dennis Thomas Anaconda, MT 59711 Receipt
Butte Waste Management/ 666 Hellsgate Lane (406) 555-4982 NTGD00 Net 15 Utilities
Teresa Moore Butte, MT 59701
McCarthys Automotive 1900 Butte Hill Road (480) 555-2235 VW-112 Due on Suppliers
Supplies/ Phoenix, AZ 85001 Receipt
Patsy McCarthy
Hamill Car Detail Supplies/ 24567 Danny Boy (951) 555-9988 921-ZP Net 15 Suppliers
Katlin Hamill Way
Corona, CA 92877
PriceCo Due on Suppliers
Receipt
Deer Lodge County County Courthouse (406) 555-3732 999-99-9999 Due on the Tax
Treasurer/ 800 Main Street Receipt Agency
Regina Parsons Anaconda, MT 59711

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QuickBooks Pro 2014: Unit 1 Comprehensive Learning Project

Customer Types/Subtypes [Delete any unnecessary types]


Business Personal
o Chamber o From Advertisement
o From Advertisement o Internet
o Internet o Referral
o Referral o Other
o Other

Vendor Types
Insurance Utilities
Suppliers Other
Tax Agency

Payment Methods
American Express Gift Card
Cash In-Kind
Check MasterCard
Debit Card Visa
Discover

Terms List Entries


Due on Receipt
Net 15
Net 20
Net 30
1% 10 Net 25
2% 15 Net 30

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QuickBooks Pro 2014: Comprehensive

Menu of Services

Individually Priced Repair Services


Rock Chip Windshield Repair $55 Paint Over Spray Removal $25
Automotive Paint Sealant $125 Paint Touch Up $20

Individually Priced Cleaning Services


Hand Wash $20 Engine Clean $45
Hand Wash with Interior $35 Exterior Polish & Wax $75
Electronic Odor Elimination $25 Exterior Hand Wax $45
Shampoo Carpet $60 Water Spot/Tar Removal $15
Shampoo Upholstery $50

Individually Priced Detail Services


Vinyl/Leather Treatment $25 Shampoo Trunk $25
Tire/Bumper Dressing $15

Packaged Cleaning Services (prices are for small car / large car)

Paint Protection ($90 / $125): This standalone service involves a thorough hand washing and
drying. A Clay Bar is used to remove any paint overspray and contaminants found on your new
vehicle. Then, a high-quality paint sealant is applied, which produces a long-lasting, high-gloss
shine on all automotive paint finishes. The paint sealant provides resistance from UV rays, salt
air, snow, sleet, insects, road film, harsh detergents, and environmental contaminants that can
prematurely fade or discolor automotive finishes. The paint sealant should be reapplied every
six months to sustain color and shine, and to provide protection.

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QuickBooks 2014: Unit 1 Comprehensive Project

Packaged Detail Services (prices are for small car / large car)
Full Interior/Exterior Detail ($180 / $225): Hand washing and drying of your vehicle. The
painted surfaces are machine-buffed and waxed with a Brazilian Carnauba wax to restore color
and shine. Tires and wheels get special cleaning and tire dressing. All cloth, vinyl, and leather
surfaces are cleaned with non-aggravating solutions, including the seats, door panels, carpets,
and the trunk to get to crevasses including door jambs. Vinyl surfaces are treated with UV
protectant and leather surfaces receive an application of leather conditioner. After a complete
window cleaning, Rain-X is applied to the exteriors. Also included are vacuuming with deep
upholstery and carpet extraction, and engine cleaning.

Full Exterior Detail ($160 / $180): This is a great service for your car during the winter months
to remove built-up mud and grime. It begins with a careful hand wash and chamois dry service
including the doorjambs and moderate bug and tar remover using only premium products. The
tires are cleaned and dressed, and the wheels are cleaned and polished with products made
especially for your type of wheel. The glass is polished and cleaned, and then coated with Rain-X
to help visibility in wet conditions. Next, the car is machine polished to remove light-to-medium
scratches, swirl marks, and dull and oxidized paint. Brazilian Carnauba wax is applied by hand to
bring out the deep brilliance of your cars finish. All chrome trim and logos are detailed to
remove dirt, grime, and wax buildup. Finally, our technicians inspect the car with the customer
to ensure satisfaction. Our goal is goal is to have every car drive out of our driveway looking like
it just drove off the showroom floor.

Interior Detail ($100 / $140): This service includes a thorough vacuuming with deep upholstery
and carpet extraction, which removes most stains and all dirt. All cloth, vinyl, and leather
surfaces are cleaned with non-aggravating solutions, including the seats, door panels, carpets,
and the trunk to get to crevasses including door jambs. Vinyl surfaces are treated with UV
protectant and leather surfaces receive an application of leather conditioner. The glass is
cleaned and polished so you can enjoy the beautiful scenery of Montana.

Non Inventory Items (Not for Resale > Job Materials)


Brushes: Sold as an assortment of sizes ($19.99)
Rags: Sold in a 50-rag bundle ($39.99)
Buckets: Sold in a 3-pack package ($18.49)
Water hoses: 50-foot hose ($17.99)
Paper hand towels: Sold in a pack ($13.56)
Mimis Upholstery and Carpet Cleaner: Sold by the case ($60)
Jacks Superior Exterior Car Wash Cleaner: 1-gallon jug ($13.99)

Change the following account:


Sales to: Product Sales

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QuickBooks 2014: Unit 1 Comprehensive Project

Session #1: Deliverables


Submit the following items to your instructor, either as a PDF or in printed form:

1-1: Report displaying the Chart of Accounts, columns should be: Account, Type of Account, and
Balance
1-2: Report displaying the customers, their contact information (address and phone number),
types, and terms
1-3: Report displaying the vendors, their contact information (address and phone number),
account number, types, and terms
1-4: Report displaying the Terms List
1-5: Report displaying the Items List, columns should be: Item, Description, Type, Price, Account

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QuickBooks 2014: Unit 1 Comprehensive Project

Session #2: Day-to-Day Work


[A] As Administrator, you will be responsible for making all deposits, receiving all payments on
account, and entering credit card charges.

[R] As the Accounts Receivable team member, you are responsible for entering all invoices and cash
sales.

[P] As the Accounts Payable team member, you are responsible for entering and paying all bills, and
for writing and printing all checks.

Session #2: Data

Monthly Diary
Sunday, June 1, 2014:
o Sold a Rock Chip Windshield Repair service to Larry Bloodneck on account using invoice #14-101
o Received cash from Dan Greany for both Hand Wash with Interior and Electronic Odor
Elimination services
o Received a check (#429) from Sean Murphy for Hand Wash and Engine Clean services
o Received a bill from Smelter City Power and Gas for $142.09
o Used the Visa card to purchase printer ink from PriceCo for $42.99
o Wrote a check to Crown Property Management for $1,500 for June rent, to be printed later
Monday, June 2, 2014:
o Received cash from Chris McCartney for a Hand Wash with Interior service
o Received a check (#1465) from Dan Thomas for a Paint Protection service for a large SUV
o Received a bill from Butte Waste Management for $74.00
o Received a bill from Hamill Car Detail Supplies for $60.00 for a case of Mimis Upholstery and
Carpet Cleaner
Tuesday, June 3, 2014:
o Received a bill from Sullivan Insurance Co. for $154.30
o Purchased water, soda pop, and snacks for the waiting room at Thompsons Grocery with credit
card for $36.55
o Sold a Hand Wash with Interior service to John McNay on account using invoice #14-102
o Received check #777 from Billy Mercedes for an Exterior Detail service for a small car
Wednesday, June 4, 2014:
o Purchased an iPod and docking station for the lobby from Electronics Wizardry for $359.36 using
the company Visa card
o Sold a Paint Touch Up service to Carson Car Sales on account using invoice #14-103
o Paid all bills in Accounts Payable, checks are to be printed
o Printed all checks in the queue, using check #1800 as the first check number
o Deposited all funds held in Undeposited Funds into Checking

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QuickBooks 2014: Unit 1 Comprehensive Project

Check-up time! Checking $11,780.33; A/R $110.00; A/P $0; Visa $438.90

Saturday, June 7, 2014:


o Invoiced Jenson Auto Wholesalers for five small car Full Interior/Exterior Detail services using
invoice #14-104
o Sold a Full Interior/Exterior Detail service for a large SUV to Mike McCollough on account using
invoice #14-105
o Received a bill from McCarthys Automotive Supplies for $55.96 for four gallons of Jacks
Superior Exterior Car Wash

Sunday, June 8, 2014:


o Invoiced Carson Car Sales for four small vehicle and one large vehicle Full Interior/Exterior Detail
services, using invoice #14-106
o Received check #2503 for $55.00 as payment on account from Larry Bloodneck, apply to invoice
#14-101
o Received a bill from WebWorks for a years worth of Internet hosting for $600, terms Net 15
o Received a check (#435) from Sean Murphy for an exterior Hand Wash service
Monday, June 9, 2014:
o Purchased a carpet for the lobby from Superior Interiors using the company Visa for $189.45
o Sold an Automotive Paint Sealant service to Leslie McGrevy on account using invoice #14-107
o Sold a Paint Protection for a large vehicle to Larry Bloodneck on account using invoice #14-108
o Received a bill from Hamill Car Detail Supplies for $38.48 for a package of brushes and a 3-pack
of buckets
o Received check #1668 for $900.00 as payment on account from Jenson Auto Wholesalers, apply
to invoice #14-104

Tuesday, June 10, 2014:


o Wrote a $38.44 check to Simpsons Pizzaria for a customer-appreciation lunch, handwritten on
check #1805
o Sold a Hand Wash with Interior service to John McNay using invoice #14-109
o Sold an Interior Detail package for a large car to Roxy Holden, 1065 West Park St., Anaconda, MT
59711 (406) 555-1579 on account using invoice #14-110, terms Net 15
o Received check #332 for $35.00 as payment on account from John McNay, apply to invoice #14-
102
o Received check #3355 for $20.00 as payment on account from Carson Car Sales, apply to invoice
#14-103

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QuickBooks 2014: Unit 1 Comprehensive Project

Wednesday, June 11, 2014:


o Received check #446 from Logan Webb for a Hand Wash with Interior service
o Sold an Exterior Detail service package for a large SUV to Dan Thomas on account using invoice
#14-111
o Sold a Paint Touch Up service to Kristin Newberg, 675 10th St., Anaconda, MT (406) 555-9821 on
account using invoice #14-112, terms Net 15
o Received check #781 for $225.00 as payment on account from Mike McCollough, apply to
invoice #14-105
o Paid all bills in Accounts Payable, checks to be printed
o Printed all checks in the queue, using the next available check number, 1806
o Deposited all funds held in Undeposited Funds into Checking

Check-up time! Checking $12,337.45; A/R $1,570.00; A/P $0; Visa $628.35

Saturday, June 14, 2014:


o Received a bill from Anaconda Water Works for $63.20
o Invoiced Jenson Auto Wholesalers for two small vehicle and two large vehicle Full
Interior/Exterior Detail services using invoice #14-113
o Sold a Hand Wash with Interior service to Dan Greany on account using invoice #14-114
o Received check #2139 for $125.00 as payment on account from Larry Bloodneck, apply to
invoice #14-108
o Used the company Visa to purchase office supplies for $29.78 at Office Superstore
Sunday, June 15, 2014:
o Sold to Mark Biggs for an Exterior Detail for a small car on account using Invoice #14-115. Mark
then paid with check #577 for $160
o Sold an exterior Hand Wash to Annette Helsper on account using invoice #14-116
o Received check #6028 for $140.00 as payment on account from Roxy Holden, apply to invoice
#14-110
o Received a check (#438) from Sean Murphy for an exterior Hand Wash
Monday, June 16, 2014:
o Received a cash payment from Samantha Wilson for an exterior Hand Wash and Exterior Polish
& Wax services
o Sold exterior Hand Wash and Engine Clean services to Deborah Michaels, 1644 Henderson
Avenue, Anaconda, MT. 59711 (406) 555-4312, on account using invoice #14-117, terms Net 15
o Sold exterior Hand Wash and Engine Clean services to Pam Swanson on account using invoice
#14-118
o Received a bill from Hamill Car Detail Supplies for $27.12 for two packs of paper hand towels
o Received check #899 for $180.00 as payment on account from Dan Thomas, apply to invoice
#14-111
o Received check #1012 for $125.00 as payment on account from Leslie McGrevy, apply to invoice
#14-107

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QuickBooks 2014: Unit 1 Comprehensive Project

Tuesday, June 17, 2014:


o Received check #3362 from Carson Car Sales for $700 and deposited it into the Checking
account, crediting the Detail Services Income account. (You will incorrectly use the Make
Deposit window for this transaction. Dont worry! You will deal with the error in the next session
of this exercise.)
o Sold a Hand Wash with Interior service to John McNay on account using invoice #14-119
o Invoiced Carson Car Sales for two small vehicle and three large vehicle Full Interior/Exterior
Detail services using invoice #14-120
o Received check #341 for $35.00 as payment on account from John McNay, apply to invoice #14-
109
o Wrote a $95.00 check to Bettys Cleaning Service for office cleaning (to be printed)
Wednesday, June 18, 2014:
o Wrote a check to Sullivan Insurance Co. for $100, debiting the Insurance Expense account, to be
printed.
o Received check #2664 for an Interior Detail package for a small car from Annette Helsper
o Invoiced Leslie McGrevy for an Interior Detail package for a large car using invoice #14-121
o Paid all bills in Accounts Payable, checks to be printed
o Printed all checks in the queue, using the next available check number, 1809
o Deposited all funds held in Undeposited Funds into Checking

Check-up time! Checking $13,732.13; A/R $3,170.00; A/P $0; Visa $658.13

Saturday, June 21, 2014:


o Received check #2121 for $65.00 as payment on account from Pam Swanson, apply to invoice
#14-118
o Invoiced Jenson Auto Wholesalers for one small vehicle and three large vehicle Full
Interior/Exterior Detail services using invoice #14-122
o Received a bill from McCarthys Automotive Supplies for $95.95 for four gallons of Jacks
Superior Exterior Car Wash and a bundle of rags
o Received check #1676 for $810.00 as payment on account from Jenson Auto Wholesalers, apply
to invoice #14-113

Sunday, June 22, 2014:


o Sold a Full Interior/Exterior Detail service for a small car to Larry Bloodneck on account using
invoice #14-123
o Received check #1427 for $65.00 as payment on account from Deborah Michaels, apply to
invoice #14-117
o Received a check (#441) from Sean Murphy for an exterior Hand Wash

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QuickBooks 2014: Unit 1 Comprehensive Project

Monday, June 23, 2014:


o Sold a Full Exterior Detail package for a large vehicle to Becky Christianson on account using
invoice #14-124, terms Net 15
o Sold exterior Hand Wash and Exterior Polish & Wax services to Chris Samuels, 898 8th St.,
Anaconda, MT. 59711 (406) 555-2632 on account using invoice #14-125, terms Net 20
o Received a bill from Hamill Car Detail Supplies for $60 for a case of Mimis Upholstery and
Carpet Cleaner
o Received check #3099 for $20.00 as payment on account from Annette Helsper, apply to invoice
#14-116
o Used the company Visa to purchase a banner for advertising from Brag About It! for $65.03
Tuesday, June 24, 2014:
o Received check #1020 for $140.00 as payment on account from Leslie McGrevy, apply to invoice
#14-121
o Sold a Hand Wash with Interior service to John McNay on account using invoice #14-126
o Received check #350 for $35.00 as payment on account from John McNay, apply to invoice #14-
119

Wednesday, June 25, 2014:


o Invoiced Carson Car Sales for one small vehicle and three large vehicle Full Interior/Exterior
Detail services using invoice #14-127
o Received check #2150 for $180.00 as payment on account from Larry Bloodneck, apply to
invoice #14-123
o Paid all bills in Accounts Payable, checks to be printed
o Printed all checks in the queue, using the next available check number, 1813
o Deposited all funds held in Undeposited Funds into Checking

Check-up time! Checking $14,911.18; A/R $4,055.00; A/P $0; Visa $723.16

Saturday, June 28, 2014:


o Invoiced Jenson Auto Wholesalers for six small vehicle and one large vehicle Full
Interior/Exterior Detail services using invoice #14-128
o Received check #507 for $180.00 as payment on account from Becky Christianson, apply to
invoice #14-124
o Invoiced Pam Swanson for Exterior Polish & Wax, Handwash with Interior, Carpet Shampoo, and
Shampoo Upholstery using invoice #14-129
o Received cash from Sally Cassen for a Hand Wash with Interior service
o Received check #2721 for $35.00 as payment on account from Dan Greany, apply to invoice #14-
114

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QuickBooks 2014: Unit 1 Comprehensive Project

Sunday, June 29, 2014:


o Sold a Paint Protection package service for a small car to Leslie Golden 1001 Crescent Lane
Anaconda, MT (406) 555-3478 on account using invoice #14-130, terms Net 20
o Sold Hand Wash with Interior and Exterior Hand Wax services to Mike McCollough on account
using invoice #14-131
o Received check #925 for $20.00 as payment on account from Kristin Newberg, apply to invoice
#14-112
o Received a check (#443) from Sean Murphy for an exterior Hand Wash and Engine Clean
o Received check #3378 for $1,035.00 as payment on account from Carson Car Sales, apply to
invoice #14-120
o Purchased water and candy at Thompsons Grocery with credit card for $14.95
Monday, June 30, 2014:
o Sold Hand Wash with Interior and Exterior Hand Wax services to Billy Mercedes on account
using invoice #14-132
o Sold exterior Hand Wash and Tire/Bumper Dressing services to Roxy Holden on account using
invoice #14-133
o Received check #1689 for $855.00 as payment on account from Jenson Auto Wholesalers, apply
to invoice #14-122
o Received a bill from Hamill Car Detail Supplies for $55.48 for miscellaneous supplies
o Received check #1691 for $1,305.00 as payment on account from Jenson Auto Wholesalers,
apply to invoice #14-128
o Paid all bills in Accounts Payable, checks to be printed
o Wrote a check to Martin Beatty for $3,000 as an owner draw, to be printed
o Printed all checks in the queue, using the next available check number, 1815
o Deposited all funds held in Undeposited Funds into Checking

Check-up time! Checking $15,385.70; A/R $2,435.00; A/P $0; Visa $738.11

Session #2: Deliverables


Submit the following items to your instructor, either as a PDF or in printed form:

2-1: Report displaying the summary of the balance each customer owes and if the balances are
current or overdue, as of June 30, 2014
2-2: Report displaying the transactions that Rugged Cross has had with each vendor for the
month of June 2014
2-3: Report displaying the details of all deposits, including the payments that make up each one
for the month of June 2014

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QuickBooks 2014: Unit 1 Comprehensive Project

Session #3: Wrap It Up


[A] As Administrator, you will be responsible for setting up all accounts and items necessary for the
transactions in this session, producing balance sheet and profit & loss reports, and for
customizing the companys reports. The company will charge customers $40 for any checks
returned for nonsufficient funds. You will also be in charge of reconciling the bank and credit
card statements.

[R] As the Accounts Receivable team member, you are responsible for accounting for any checks
returned for nonsufficient funds (once the items and accounts are set up), sending out customer
statements, editing/fixing invoices and payments on account, and writing off bad debt.

[P] As the Accounts Payable team member, you are responsible for issuing customer refunds,
accepting vendor refunds, and editing/fixing bills and bill payments.

Session #3: Data

Scenarios
Invoice #14-129 included an Exterior Polish & Wax, a Hand Wash with Interior, Shampoo Carpet, and
Shampoo Upholstery. On 6/29/14, you discovered that the customer should have only been
invoiced for a Full Interior/Exterior Detail package for a small car. Reissue invoice as #14-134.
A check was written to Sullivan Insurance Co. on 06/18/2014 that should have been applied to an
outstanding bill. You also paid this bill in full, so you have paid for the expense twice. On 6/30/2014,
the vendor has issued you a $100 credit for the overpayment.
You deposited $700 from Carson Car Sales directly into the bank, but it should have been applied to
invoice #14-106. Make sure the deposit is recorded on 6/17/14.
You were reviewing your source documents and realized that the bill from Anaconda Water Works
dated 06/14/2014 for $163.20 was incorrectly entered into QuickBooks for $63.20.
You forgot that you had agreed to special pricing of $150 for the Full Interior/Exterior Detail services
for small cars on invoice #14-104. Correct this error for the customer on 6/30/2014, using CR1 as the
credit number. They have chosen to apply the overpayment to a future invoice.
You ran a special for Interior Detail services on June 18 for $50. The sale price was not reflected on
the cash sale for Annette Helsper. Since the customer has already paid for the service, you will need
to issue her a refund check, to be printed, for the difference on 6/30/14. Leslie McGrevy took
advantage of the same offer and she was invoiced (#14-121) for the services. She has chosen to
apply the overpayment to a future service.
You received a damaged case of Mimis Upholstery and Carpet Cleaner (six of the twelve bottles
were damaged) from Hamill Car Detail Supplies. The vendor has issued you a credit on 6/30/14 for
$30 (use a quantity of .5 on the Items tab to arrive at this amount) to account for the damaged
goods. You will use this credit when paying a future bill to the vendor.
(continued on the next page)

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QuickBooks 2014: Unit 1 Comprehensive Project

On June 20, 2014 you received the following notice from the bank: Check #577 for $160.00 from
Mark Biggs was returned for nonsufficient funds. A $25 fee has been charged to your account.
Account for this bounced check and send a statement to the customer.

Once you are finished with the preceding scenarios, complete the following tasks on 6/30/2014:

Pay all bills in Accounts Payable, checks to be printed


Print all checks in the queue, using the next available check number, 1817
Deposit all funds held in Undeposited Funds into Checking, if necessary

Check-up time! Checking $15,050.70; A/R $1,655.00; A/P ($130.00); Visa $738.11

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QuickBooks 2014: Unit 1 Comprehensive Project

Bank Statement
Use the following bank statement to reconcile the checking account for June 2014.

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QuickBooks 2014: Unit 1 Comprehensive Project

Credit Card Statement


Use the following credit card statement to reconcile the credit card account for June 2014. Choose to
enter a bill [dated 06/30/14] for payment later for the total amount you owe to the vendor.

Reporting Requests
Martin would like to see the results of the first month of operations in his new location.

Prepare a balance sheet and profit & loss reports for June 2014.

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QuickBooks 2014: Unit 1 Comprehensive Project

Session #3: Deliverables


Submit the following items to your instructor, either as a PDF or in printed form:

3-1: Report displaying details of the reconciled checking account as of June 30, 2014
3-2: Report displaying a summary of the reconciled credit card account as of June 30, 2014
3-3: Report displaying transaction details and balance owed to each vendor as of June 30, 2014
3-4: Graph displaying the amount owed by each customer as of June 30, 2014
3-5: Graph displaying the sales by item for June 2014
3-6: Report displaying company net income for the month of June 2014.
3-7: Report displaying the balances of all assets, liabilities, and equity accounts as of June 30,
2014.

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QuickBooks 2014: Unit 1 Comprehensive Project

Rubric for Evaluation


Your instructor may use the following rubric to evaluate your mastery of this exercise. You may want to
review this table prior to turning in your assignment so you have a clear idea of how to achieve the
highest points.

Deliverable 45 Points 23 Points 01 Point(s) Totals


Report information is Report information is Report information is
correct and has minimal mostly correct; errors mostly inaccurate; errors
typos (one or two) would not cause would cause discrepancies
discrepancies behind the behind the scenes;
scenes; extensive typos extensive typos
Example One error was made that 3
would cause a discrepancy
BTS; three typos found
1-1
1-2
1-3
1-4
1-5
2-1
2-2
2-3
3-1
3-2
3-3
3-4
3-5
3-6
3-7
Total Points
Points Possible 75
Final Total
(Total Points/Points Possible: %)

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