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Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.-

Farm Branch Rentals needs some assistance in adding 2 new vendors & 2 new customers. Please add the following vendors and customers beginning balances to the company within the QuickBooks software. Be sure to include the balances as of December 1, 2014.

• 4537 White Road
• Siler City, NC 36647
• Phone Number: 252-876-9987
• Contact: Tim Waltz
• Vendor Type: Supply
• Account Balance: $2359

• 543 Mill Lane
• Smithfield, NC 65343
• Phone Number: 252-667-9833
• Contact: Nicole Smith
• Vendor Type: Supply
• Account Balance: $765

Geller Construction Company

• 76 Rock Quarry Road
• Smithfield, NC 65463
• Phone Number: 252-876-0032
• Contact: Kevin Lowe
• Customer
• Account Balance: $2134

Rocks Etc.

• 712 Hwy 158 E
• Siler City, NC 77634
• Phone Number: 252-443-0976
• Contact: Justin Tart
• Customer
• Account Balance: $543

After adding the vendors & customers, provide a report that explains the steps in detail, with screenshots showing how to add the vendors & the customers in the software. Write a memo of 350–500 words to Farm Branch Rentals and explain what the aged-payables & aged-receivables reports are and how they might be used to make management decisions from both the views of internal and external users. Be sure to include the required items that are needed and other items that you can think of that would be helpful in properly adding the vendors & customers.

Once completed, print the two reports in PDF format showing you the 4 accounts that you just added.

Submit the following for this assignment:

• Include an aged-accounts payable report showing the correct set up of the vendor accounts.
  • Include the beginning balances for these accounts as of December 31, 2014.
  • Save the aged-payables report as a PDF document named P3-IP1_AP_LASTNAME.
  • · Include an aged-accounts receivables report showing the correct set up of the customer accounts.
  • Include the beginning balances for these accounts as of December 31, 2014.
  • Save the aged-receivables report as a PDF document named P3-IP1_AR_LASTNAME.
• Include a memo of 350–500 words to Farm Branch Rentals that covers the following:
  • Explains the steps for setting up vendors & customers
    • Use screenshots to show how to add the vendors & customers in the software.
    • Include the required items that are needed and other items that you think of that would be helpful in properly adding vendors & customers.
  • What the aged-payables & aged-receivables reports are.
  • How they might be used to make management decisions from both the view of internal and external users.
  • Include how the reports would be used to make management decisions for the business.

Please submit your assignment.

For assistance with your assignment, please use your text, Web resources, and all course materials.