Quick books Homework

QuickBooks 2018

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QuickBooks Skills Tester 2 (Lessons 10-Appendix E) Note: For this exercise, open the B18_Skills Tester 2.qbw file and login using Canalside2 as the password. This file must be provided to you by the instructor. You should also change your computer’s date to 11/1/2018 before opening the QuickBooks file, as recommended in the Before You Get Started lesson.

1. Write a check to Bennet’s Insulation for $125.00 and charge the payment to the Building Supplies account. Print the check and label the print out T2 Q1A Check. Print the Profit and Loss Standard report for all transactions this fiscal year-to-date and label the print out T2 Q1B P&L.

2. Memorize the check created in step 1 and have QuickBooks remind you about the transaction monthly beginning 12/1/2018. Print the Memorized List report and label the print out T2 Q2 Memorized List.

3. Duplicate the Intuit Product invoice and customize it by changing the default title to Bill and removing the Terms field from both the screen and printed form. Add a green color scheme to the template and name the new template Custom Company Bill.

4. Change the layout of the new template by moving the P.O. Number field so it is positioned next to the Date field, and making the Quantity column smaller, so there is only enough room for the new heading, QTY. Add the following text to the footer:

All accounts that are 45 days past due will be charged 1.5% of the unpaid balance.

5. Create a new sales tax item called West with a tax agency called West County at the rate of 7% with a description of NY Sales Tax West County.

6. Create an invoice using the Custom Company Bill template for 75 Sunrise St. ordering 10 exterior wood doors and apply the West county taxes to it. Print the invoice and label the print out T2 Q7 Invoice.

7. Open the Sales Tax Payable register, then close it and create a Sales Tax Liability report for this calendar quarter. Print the Sales Tax Liability report and label it T2 Q8 Sales Tax Liability.

8. Using your World Wide credit card, enter a charge to Auburn Construction Rental for the rental of an electric sander in the amount of $40. Use the Tools & Machinery expense account. Print a Register QuickReport expanding the columns so that everything can be viewed and prints on one page. Label the report T2 Q9 Register.

9. Display a QuickReport for Joshua Hardware Supplies for All Dates. Then modify the report by selecting Trans # in the Columns field. Memorize this report in the Memorized Vendors Report group. Print the Vendor QuickReport and label the printout T2 Q10 Memorized Report.

Testing Knowledge

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10. Display the A/P Aging Summary report. Then, use QuickZoom to display an Item Receipt for Joshua Hardware Supplies in the A/P Aging QuickZoom report. Print the report and label it T2 Q11 AP Aging Report.

11. Add a new employee to your company with the following information:

12. Add the following payroll information for Andrea White: Hint: Andrea is subject to Federal and NY State taxes. You will need to set up NYS unemployment taxes and NYS disability at 4.5%. You should accepts all defaults and keep all additional “other” taxes.

13. Create a payroll check for Andrea White for a two week period (80 hours). Apply fictitious Federal, NY state, and Medicare deductions to the check. Print the paycheck stub for Andrea. Print the Employee Contact list with the follow- ing headings in this order: Mr./Ms./, Employee, Phone, Address, Earnings 1/ Rate, Federal Filing Status. Label the print out T2 Q14 Employee List.

14. Make sure estimates and time tracking are activated for your company.

15. Create an estimate for Richard Davis for an addition of a Rec room (you must add the Rec Room job). The estimate is for 38 hours of installation labor, 6.5 hours of plumbing work, and 6 hours of drywall work. The cost of the plumb- ing is $50 per hour and the cost of the drywall work is $40 per hour.

16. Create an invoice to bill for one-third of the job before starting work. Add the customer message: All jobs require a 1/3 deposit applied to the total invoice. Print the progress invoice and label it T2 Q17 Invoice.

17. Create a single activity timesheet for Andrea White for 16 hours of installation work on the Davis, Richard Rec Room job.

Name: Ms. Andrea White

Address: 123 Main St.

Fairgrave, NY 11111

Phone: (555) 555-7777

SS No.: 000-01-0002

Hourly 1 rate: $25

Filing Status: Single

Health Insurance deduction:

$30 to Blue Cross Blue Shield

QuickBooks 2018

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18. Display a Time by Name project report through 12/31 to see how many hours Andrea White has worked for each job. Print the report and label the print out T2 Q19 Time By Name.

19. Using the Customer Letters option and the Letters and Envelopes wizard, cre- ate a Thanks for business (service) letter. Use the following information for the Thanks for business (service) letter:

Review and Edit Recipients window: Deselect all customers except for Richard Davis.

Choose A Letter Template window: Select the Thanks for business (service) letter template.

Enter a Name and Title window: Name: Your Name Title: Your Title

In the letter, change the salutation to Mr. Print the letter and label it T2 Q20 Thanks for Business Letter.