Type:
Solution Manual
Computer Accounting with Resource: QuickBooks Online A Cloud Based Approach Edition:
4th Edition
Author(s):
Carol Yacht Matthew Lowenkron
CHAPTER 1 QUICKBOOKS ONLINE TEST-DRIVE INSTRUCTOR’S MANUAL OBJECTIVES 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
Start the sample company, Craig’s Design and Landscaping Services. Tour QuickBooks Online (QBO) and the user interface. View recent transactions and reports. Create an invoice, sales receipt, bill, and write checks. Export the Chart of Accounts to Excel. Export reports to Excel and save as PDF files. Display Management reports. Complete Check Your Progress. Review and complete the QuickBooks Resources and Activities. Complete Exercises 1-1, 1-2, 1-3, and Certification Q&A practice tests.
SYSTEM REQUIREMENTS To use QuickBooks Online (QBO), sign in with a web browser. The requirements for your computer’s operating system, Internet speed, and web and mobile browser vary depending on your system. For optimal QuickBooks Online performance, the following computer operating systems and internet speeds are recommended. Recommended operating systems and internet speeds To check your computer’s operating system, link to the Windows version page or the Mac version page.
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Windows PC: Windows 10 or 11, Intel Core i5 or comparable processor (2015 or newer) with at least 4 GB of RAM. You need Adobe Reader 11.0 or higher to print forms. Mac: OS X “Big Sur” 11.1 or newer. Internet connection: 3 Mbps or higher.
Minimum operating systems and internet speeds The specs above are recommended, but QuickBooks will run with the following minimum systems and internet speeds: • Windows PC: Windows 10, Intel Core i3 or a comparable processor (2013 or newer) with at least 2 GB of RAM. • Mac: OS X El Capitan 10.11 or newer. • Internet connection: 1.5 Mbps. Supported web browsers In general, QuickBooks supports the current and two previous versions of browsers. We do not always support older versions. [Note: Internet Explorer is no longer a supported browser.] • Google Chrome: Version 78 or newer • Mozilla Firefox: Version 76 or newer. Note: To preview and print forms on Mac OS, you will also need the Firefox PDF plugin. • Microsoft Edge: version 75 or newer • Safari: version 12 or newer (Mac only)
Mobile browsers iPhone / iPad 1 - Computer Accounting with QuickBooks Online: A Cloud-Based Approach, 2024 Release McGraw-Hill Education © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC .
• iOS 11.1 or newer. • Safari browser: Make sure Private mode is off to allow cookies • Other browsers, such as Chrome and Dolphin, may work but are not supported. Android smartphones and tablets • Nougat 7.1.1 or newer • Chrome browser • Other browsers, such as Firefox and Opera, may work but are not supported. Microsoft Surface: Microsoft Edge Other For exporting reports to Excel, use Microsoft Excel 97 or later. Adobe for saving PDF files. The free Adobe Acrobat Reader is available at https://get.adobe.com/reader/ QBO Tips ❖ Start an Internet browser. Go online to https://qbo.intuit.com/redir/testdrive. ❖ Each time your students start the sample company, Craig’s Design and Landscaping Services, security verification is required. ❖ Each time the sample company is started, a new session begins. Data is not saved. ❖ In Chapter 1, students complete Check Your Progress assignments and compare their results with the answers shown. In subsequent chapters, students provide Check Your Progress answers. ❖ Before students start Exercise 1-1, the authors suggest they sign out of QBO. Then, students log into a new session of QBO before starting Exercise 1-1. Students complete Exercise 1-1’s transactions and continue with Exercise 1-2. Students should not log out until Exercises 1-1, 1-2 are completed. QUICKBOOKS RESOURCES AND ACTIVITIES McGraw-Hill Connect® publishes the eBook twice a year for Fall and Spring semesters. For example, there is a Winter 2024 eBook Release for Spring semester, and a Summer 2024 eBook Release for Fall semester. eBook Releases include content and software updates, new Figures, Connect assignment updates, and SmartBook updates. Connect: One or more of the following may be assigned for auto-grading and feedback. 1. Multiple-choice and true or false questions. 2. Analysis question(s). 3. Check Your Progress. 4. Chapter work and end-of chapter exercises. 5. Problem solving. 6. Certification Q&A. 7. Test Bank. 8. Additional student resources.
2 - Computer Accounting with QuickBooks Online: A Cloud-Based Approach, 2024 Release McGraw-Hill Education © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC .
9. SmartBook > + Add Assignment > select SmartBook 2.0 (or later) > New Assignment > select Chapter(s) > Continue > select Content. If all of Chapter 1 Content is selected, it looks like this.
a. Click > Continue > enter an Assignment name (e.g., Chapter 1). b. Enter a start date and due date > enter preferred score > Assign. c. An example of the author’s SmartBook assignments are shown for Chapters 1-5. You may want to have students’ complete SB for Chapters 1 through 12. In addition to completing Connect’s Certification Q&A practice tests, SmartBook is a good way to prepare for the third-party, fee-based, Certification test from Certiport.
3 - Computer Accounting with QuickBooks Online: A Cloud-Based Approach, 2024 Release McGraw-Hill Education © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC .
Additional Student Resources (ASR) The following resources can be found on the ASR page in Connect’s eBook. If students are not using Connect, the professor provides students with a URL to access the ASR page. 1. Access QBO Sign Up. 2. Narrated PowerPoints. 3. QBO Videos. a. Get started with QuickBooks b. Use QuickBooks Shortcuts c. Search for Videos 4. Text Updates. INSTRUCTOR RESOURCES AND ADDITIONAL STUDENT RESOURCES • • • •
Intuit Educator Portal. Instructor’s Manual for Chapters 1-12. Instructor PowerPoints: Notes are included for each slide. (Select View > Notes Page.) Excel Reports and PDF Reports: Reports are exported to Excel and saved as PDF files in each chapter. Refer to the Instructor’s Manual chart, Files Saved in Chapter 1. 4 - Computer Accounting with QuickBooks Online: A Cloud-Based Approach, 2024 Release McGraw-Hill Education © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC .
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Certification Information. QBO Access, System Requirements, Technical Support, and Resources. Syllabi. Test Bank for Chapters 1-12. Using Accountant Version and Certification for Professors. Instructor preview for Connect assignments—Multiple-choice and True False quizzes, Analysis Questions, Check Your Progress, Chapter work and End-ofChapter Exercises, Problem Solving, Certification Q&A quiz. Connect assignments are auto-graded. Additional Student Resources: Access QBO Sign Up, Certification Info, Narrated PowerPoints, Intuit Support, QBO Videos, and Text Updates. The PowerPoints include links to videos.
To access the Instructor’s Resources, contact the school’s McGraw-Hill Learning Technology Representative at https://shop.mheducation.com/store/paris/user/findltr.html. ANSWERS ANALYSIS QUESTIONS The Analysis questions and answers are shown below, and are included within Connect’s Instructor login. Within Connect, students’ responses are auto-graded. 1. Define the chart of accounts and its categories. How do accounting textbooks define the chart of accounts? ANSWER: The Chart of Accounts is a complete list of a business’s accounts and their balances. QBO includes the Account name, Type (for financial statement classification), the Detail Type (account subcategory), and Balance. The chart of accounts includes two categories of accounts: •
Balance Sheet accounts: In QBO, these types of accounts reflect what you own and what you owe, like Bank, Credit Card, Assets, Liabilities, Accounts Receivable, Accounts Payable and Equity.
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Income and expense accounts: These are categories for tracking how money flows in and out of your company.
In accounting textbooks, the term Chart of Accounts is defined as a list of all the accounts used in the General Ledger. Accounts are used to classify transaction information for reporting purposes. 2. What do you select to add account numbers to the Chart of Accounts? 5 - Computer Accounting with QuickBooks Online: A Cloud-Based Approach, 2024 Release McGraw-Hill Education © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC .
ANSWER: Adding account numbers is a two-step process.
a. Go to > Account and settings > Advanced > in the Chart of accounts area, click on the pencil icon to Enable account numbers and Show account numbers > Save > Done.
b. After saving, then selecting <Done> on the Advanced Settings screen, click
> Chart of Accounts > Batch edit > type the account number in the Number field > Save. 3. What numbering system is used for the Chart of Accounts? Complete the following chart. Numbers 1000s 2000s 3000s 4000s 5000s 6000s
Type Assets Liabilities Equity Income Cost of Sales Expenses
ANSWERS MULTIPLE-CHOICE AND TRUE FALSE QUESTIONS The multiple-choice and true false quizzes are within Connect. The answers are shown below and within Connect’s Instructor login. Within Connect, students’ responses are auto-graded. 1. The following Internet browsers can be used with QB Online: 6 - Computer Accounting with QuickBooks Online: A Cloud-Based Approach, 2024 Release McGraw-Hill Education © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC .