Inventory Prior to beginning work on this discussion forum, it is recommended that you review Chapters 3 and 4. Why is it important to track inventory from the point of ordering to the point of selling? How would you do this in QuickBooks? Discuss how companies that use a vendor like Amazon to maintain and […]

What are journal entries, and why are they used? Explain why adjusting entries are needed, and describe the major types.   DQ2 Accounting Cycle [WLO: 4] [CLOs: 3, 4, 5]   Prior to beginning work on this discussion forum, read Chapter 7 in the course textbook. Describe a typical accounting cycle throughout a month. What […]

Discuss how you would interview a client at a new company to understand their business. Develop a list of questions you would ask that would allow you to customize QuickBooks to better serve the client’s financial and management accounting needs.   DQ2 Business Plan [WLO: 4] [CLOs: 1, 2, 3, 5, 6]   Prior to […]

Computerized Accounting Software Prior to beginning work on this discussion forum, read Chapters 1 and 2 in the course textbook. Discuss the advantages and disadvantages of using a computerized accounting software package. What specific challenges would you face when converting from a non-computerized accounting method to a system like QuickBooks?   DQ2 Chart of Accounts […]

Method Comparison Journal Exercise In this journal exercise, you will observe and reflect on the similarities and differences in two published research studies (one qualitative, one quantitative) on a similar topic (See Patients’ Perceptions of Barriers to Self-managing Bipolar Disorder: A Qualitative Study and Social Support and Relationship Satisfaction in Bipolar Disorder). A table is […]

Computerized Accounting Software  Discuss the advantages and disadvantages of using a computerized accounting software package. What specific challenges would you face when converting from a non-computerized accounting method to a system like QuickBooks?   DQ2 Chart of Accounts [WLOs: 1, 2, 3] [CLOs: 1, 2, 3, 5]   Prior to beginning work on this discussion […]

Adding a Client to QuickBooks You have just started your Certified Public Accountant (CPA) practice, and your first client needs to be added to QuickBooks. Your client has just started the business and he is buying inventory the first month, so he does not have any expenses yet, just purchases.In QuickBooks, click Add Client. Fill […]

Payroll Hover over Workers and click on Employees.   Click Add an Employee and complete the seven steps to add an employee.   Add five employees to the company.   Click on Reports and under Payroll, click on Employee Details.   Submission: Click Share and Export to export the report to Excel which will be […]

Vendors Add A New Vendor   Visit Chapter 7 on page 448 in the course textbook under the heading, “Add a New Vendor – Do.”   Hover over expenses and click Vendors.   Click Add New Vendor.   Create 10 new vendors.   Part 2: Record Credit Card Purchase   Visit Chapter 7 on page […]

Transactions Part 1: Write Checks to Pay Bills   See Chapter 7 on page 489 in the course textbook under the heading, “Write Checks to Pay Bills – Do.”   Hover over expenses and click Expenses.   Click new transaction – Check.   Payee, click Add new – Electric Company.   Click on Print Later. […]