QuickBooksComplete-18-SOLUTIONS BY CHAPTER.pdf -...

This preview shows page 1 out of 242 pages.

Unformatted text preview: QuickBooks® Complete 2018 Instructors Manual For QuickBooks Pro, Premier and Accountant Copyright 2018 Product Name QuickBooks Complete 2018 Instructors Manual Companion book to QuickBooks Complete 2018 Trademarks Intuit, the Intuit logo, QuickBooks, QuickBooks Pro, QuickBase, Quicken, TurboTax, ProSeries, Lacerte, EasyStep, and QuickZoom, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. QuickBooks ProAdvisor is a trademark and/or service mark of Intuit Inc. in the United States and other countries. Other parties’ trademarks or service marks are the property of their respective owners and should be treated as such. Terms, conditions, features, service offerings, prices, and hours referenced in this document are subject to change without notice. We at Intuit are committed to bringing you great online services through QuickBooks. Occasionally, we may decide to update our selection and change our service offerings, so please check for the latest information, including pricing and availability, on our products and services. Copyright © 2018 Questiva Consulants All rights reserved Disclaimer This material is intended as a learning aid for QuickBooks software users. Under no circumstances shall the author or publisher be liable for any damages, including any lost profits, lost data or other indirect damages arising out of anything written in this document or expressed directly or indirectly by the author or publisher. Developed and Written By Douglas Sleeter Deborah Pembrook Contributing Authors, Testers, and Reviewers Pat Carson Tricia Lippincott Ellen Orr Chapter 1 Introducing QuickBooks .......................................................................................... 1 Objectives .........................................................................................................................................................1 Teaching Tips ...................................................................................................................................................1 Passwords ...................................................................................................................................................1 Answers to Review Questions .........................................................................................................................1 Answers to Comprehension Questions .....................................................................................................1 Answers to Multiple Choice Questions ......................................................................................................2 Answers to Completion Statements ..........................................................................................................3 Introduction Problem 1 ....................................................................................................................................3 Introduction Problem 2 Answer Summary ................................................................................................4 Introduction Problem 2 ....................................................................................................................................4 Introduction Problem 2Answer Summary .................................................................................................6 Chapter 2 The Sales Process ................................................................................................... 7 Teaching Tips ...................................................................................................................................................7 Using the Memo Field on Forms ................................................................................................................7 Answers to Review Questions .........................................................................................................................7 Comprehension Questions ........................................................................................................................7 Multiple Choice ...........................................................................................................................................8 Completion Statements .......................................................................................................................... 10 Sales Problem 1 ............................................................................................................................................ 10 Sales Problem 2 ............................................................................................................................................ 14 Chapter 3 Additional Customer Transactions ........................................................................ 19 Objectives ...................................................................................................................................................... 19 Answers to Review Questions ...................................................................................................................... 19 Comprehension Questions ..................................................................................................................... 19 Multiple Choice ........................................................................................................................................ 19 Completion Statements .......................................................................................................................... 21 Customers-Problem 1 ................................................................................................................................... 22 Customers-Problem 2 ................................................................................................................................... 29 Chapter 4 Managing Expenses .............................................................................................. 41 Topics ............................................................................................................................................................ 41 Teaching Tips ................................................................................................................................................ 41 Additional Topics ........................................................................................................................................... 41 Multiple Checking Accounts ................................................................................................................... 41 Answers to Review Questions ...................................................................................................................... 42 Comprehension Questions ..................................................................................................................... 42 Multiple Choice Questions ...................................................................................................................... 43 Completion Statements .......................................................................................................................... 45 Expenses Problem 1 ..................................................................................................................................... 45 Expenses Problem 2 ..................................................................................................................................... 51 Chapter 5 Bank Reconciliation and Bank Transactions ........................................................ 65 Objectives ...................................................................................................................................................... 65 Teaching Tips ................................................................................................................................................ 65 Answers to Review Questions ...................................................................................................................... 65 Comprehension Questions ..................................................................................................................... 65 Multiple Choice ........................................................................................................................................ 66 Completion Statements .......................................................................................................................... 68 Bank Reconciliation Problem 1 .................................................................................................................... 68 Bank Reconciliation Problem 2 (Advanced) ................................................................................................ 71 Chapter 6 Reports ................................................................................................................. 79 Topics ............................................................................................................................................................ 79 Teaching Tips ................................................................................................................................................ 79 Answers to Review Questions ...................................................................................................................... 79 Comprehension Questions ..................................................................................................................... 79 Multiple Choice ........................................................................................................................................ 80 Completion Statements .......................................................................................................................... 82 Reports Problem 1 ........................................................................................................................................ 82 Reports Problem 2 ........................................................................................................................................ 84 Chapter 7 Customizing QuickBooks ...................................................................................... 89 Objectives ...................................................................................................................................................... 89 Teaching Tips ................................................................................................................................................. 89 Additional Topics ........................................................................................................................................... 89 QuickBooks Preferences ......................................................................................................................... 89 Item List.................................................................................................................................................... 89 Customizing Templates ........................................................................................................................... 89 Answers to Review Questions ....................................................................................................................... 90 Comprehension Questions ...................................................................................................................... 90 Multiple Choice Questions ...................................................................................................................... 90 Completion Statements ........................................................................................................................... 92 Customizing Problem 1 ................................................................................................................................. 92 Customizing Problem 2 ................................................................................................................................. 95 Chapter 8 Inventory ............................................................................................................. 103 Objectives ....................................................................................................................................................103 Teaching Tips ...............................................................................................................................................103 When to Use Inventory vs. Non-Inventory .............................................................................................103 Who Should Use Inventory ....................................................................................................................103 Who Should NOT Use Inventory ............................................................................................................104 Answers to Review Questions .....................................................................................................................105 Comprehension Questions ....................................................................................................................105 Multiple Choice ......................................................................................................................................105 Completion Statements .........................................................................................................................107 Inventory Problem 1 ....................................................................................................................................108 Inventory Problem 2 ....................................................................................................................................111 Chapter 9 Time and Billing .................................................................................................. 119 Objectives ....................................................................................................................................................119 Teaching Tips ...............................................................................................................................................119 Using Two-Sided Items ..........................................................................................................................119 Using Service Items to Track Subcontracted Labor .............................................................................120 Time Tracking .........................................................................................................................................120 Answers to Review Questions .....................................................................................................................121 Comprehension Questions ....................................................................................................................121 Multiple Choice ......................................................................................................................................121 Completion Statements .........................................................................................................................123 Time and Billing Problem 1 .........................................................................................................................124 Time and Billing Problem 2 .........................................................................................................................127 Chapter 10 Payroll Setup....................................................................................................... 135 Objectives ....................................................................................................................................................135 Teaching Tips ...............................................................................................................................................135 Considerations for this Chapter ............................................................................................................135 Answers to Review Questions .....................................................................................................................135 Comprehension Questions ....................................................................................................................135 Multiple Choice ......................................................................................................................................136 Completion Statements .........................................................................................................................138 Payroll Setup Problem 1 .............................................................................................................................138 Payroll Setup Problem 2 .............................................................................................................................146 Chapter 11 Payroll Processing............................................................................................... 171 Objectives ....................................................................................................................................................171 Teaching Tips ...............................................................................................................................................171 Answers to Review Questions .....................................................................................................................171 Comprehension Questions ....................................................................................................................171 Multiple Choice ......................................................................................................................................172 Completion Statements .........................................................................................................................173 Payroll Processing Problem 1 .....................................................................................................................174 Payroll Processing Problem 2 .....................................................................................................................178 Kati Reynolds’ Paycheck .......................................................................................................................178 Mike Mazuki’s Paycheck ....................................................................................................................... 179 Chapter 12 Company File Setup ............................................................................................187 Objectives .................................................................................................................................................... 187 Teaching Tips .............................................................................................................................................. 187 Answers to Review Questions .................................................................................................................... 188 Comprehension Questions ................................................................................................................... 188 Multiple Choice Questions .................................................................................................................... 189 Completion Statements ...............................................
View Full Document

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture