Its a Unit Project and quickbooks is involved.
Unit 1: Learning Project Putting It All Together In this project, you will synthesize all you have learned in Unit 1 (Chapters 1–5). You will look at the information that has been compiled for an expanding auto detailing business and then process it in QuickBooks. This is an individual assignment, however, you are allowed to work in study groups together. You must submit your own file for the project! You will be completeing the tasks for each of the roles shown below. You will be keeping the books for the company for the first month, which will be broken down into “sessions.” You will not be given specifics in many cases, just as you will not be given specifics when working with your own company. You may need to add new customers, vendors, or other information “on the fly” and use your own problem-solving and reasoning skills to complete the project. You are also welcome to use the help and search features in QuickBooks to accomplish the tasks. Now, let’s get started! Case Study: Rugged Cross Auto Detailing Martin Beatty has owned and operated a small automobile detailing business out of his home for the past three-and-a-half years. His business has grown, and he is no longer able to serve his customer base from his converted garage facility. Martin is looking for a commercial building to lease from which he can run his business. When the move is complete, Martin plans to employ four full-time detailing specialists.Rugged Cross Auto Detailing Martin’s wife, Bridget, has managed the business books since the business opened more than three years ago. She has been using spreadsheets that came with her home computer but is interested in a software package that will expand as the business grows. QuickBooks received high reviews and was recommended at a small-business seminar she recently attended. Session #1: The Company File and Lists [A]As the Administrator, you are responsible for creating the new company file based on the information below. If you are working in a group, set yourself up as the administrator and your teammates as additional users. Grant permissions for each user account based on the responsibilities of each position. (You may wish to look through the entire assessment to determine what access each will need.) Since you will be entering transactions that occurred in the past, make sure to turn off the Date Warning preferences. Examine the Chart of Accounts created for your company, and then make sure there is an appropriate income account for each type of service that Rugged Cross provides as well as an expense account for the non-inventory items (i.e., Job Materials). Make sure to also delete unnecessary accounts. Finally, set up the bank and credit card accounts outlined below, and set up the company to use the accrual basis of accounting. [R]As the Accounts Receivable team member, you are responsible for setting up all of the customers listed below. In addition, you will need to set up the service items that will be displayed on invoices and sales receipts. [P]As the Accounts Payable team member, you are responsible for setting up all of the vendors listed below. In addition, you will need to populate the following profile lists: Vendor Type List, Customer Type List, Payment Type List, and the Terms List. Finally, you will assist the Administrator by setting up the non-inventory items that the company will be using. Session #1: Data Company General Information Business Name Rugged Cross Auto Detailing Industry Automotive Sales or Repair Business Type Sole Proprietorship Employer Identification Number (EIN) #99-9999999 Business Address 18071 Hamburg Avenue, Anaconda, MT 59711 Phone (406) 555-5192 Fax (406) 555-3172 Fiscal Year June Tax Year January Tax Form 1040 (Sole Proprietorship) QuickBooks Start Date 5/31/2015 Basis Cash State ID #999-9999-9 Bank Accounts Account name Account number Opening balance Opening balance date Checking: Deer Lodge County Credit Union Acct. #4673-85 $13,265.72 5/31/15 Savings: Deer Lodge County Credit Union Acct. #4673-02 $42,105.01 5/31/15 Credit Card: Copper City Bank Visa Acct #4000 9999 7777 3333 $0 5/31/15 Chart of Accounts Delete the following accounts: Parts Purchases, Equipment Rental, and Ask My Accountant. Then add the following accounts. Account Account Type Cleaning Service Income Income Detailing Service Income Income Repair Service Income Income Job Materials Expense Customer Types/Subtypes QuickBooks Pro 2015 Unit 1: Learning Project The lists below contain the categories you will need for this project. Please delete any other categories that are not currently needed. Page 3 of 16 · Business · Chamber (of Commerce) · From Ad · Internet · Referral · Other · Personal · From Ad · Internet · Referral · Other Vendor Types · · Insurance · Suppliers · Tax Agency · Utilities · Other Payment Methods Customizable Assessment · QuickBooks Pro 2011Page 4 · American Express · Cash · Check · Debit Card · Discover · Gift Card · In-Kind (Other payment type) · MasterCard · Visa QuickBooks Pro 2015 Unit 1: Learning Project QuickBooks Pro 2015 Unit 1: Learning Project · Page 4 of 16 Page 6 of 16 Terms List Entries · Due on Receipt · Net 15 · Net 20 · Net 30 · 1% 10 Net 25 · 2% 15 Net 30 Customers Name/Company Address Phone Terms Customer Type John McNay 2118 Hagen St. Anaconda, MT 59711 (406) 555-2195 Due on Receipt Referral Dan Greany 102 Copper Rd. Anaconda, MT 59711 (406) 555-6103 Due on Receipt Internet Dan Thomas 1407 West 4th St. Anaconda, MT 59711 (406) 555-1254 Net 20 From Ad Annette Helsper 1305 West 3rd St. Anaconda, MT 59711 (406) 555-5928 Due on Receipt Referral Pam Swanson 246 Birch St. Anaconda, MT 59711 (406) 555-6203 Net 15 Referral Mike McCollough 955 Eagle Mtn. Dr. Anaconda, MT 59711 (406) 555-1093 Net 20 Internet Larry Bloodneck 1104 East Park St. Anaconda, MT 59711 (406) 555-3397 Due on Receipt Internet Mark Biggs 496 Mt. Baldy Rd. Anaconda, MT 59711 (406) 555-5981 Due on Receipt From Ad Sean Murphy 1106 West Park St. Anaconda, MT 59711 (406) 555-1942 Due on Receipt From Ad Leslie McGrevy 507 West 3rd St. Anaconda, MT 59711 (406) 555-8851 Net 15 Internet Mike Carson/ Carson Car Sales 4201 East 6th St. Anaconda, MT 59711 (406) 555-9441 1%10 Net 25 Referral Erika Jenson/ Jenson Auto Wholesalers 331 Pine St. Anaconda, MT 59711 (406) 555-7344 2%15 Net 30 Referral Vendors Company Name/Contact Address Phone Account No. Payment Terms Type Sullivan Insurance Co./ Colleen Sullivan 206 West 4th St. Anaconda, MT 59711 (406) 555-2195 B22931 Net 30 Insurance Smelter City Power and Gas/Steve Hasart 201 West 3rd St. Anaconda, MT 59711 (406) 555-4431 129-774 Net 15 Utilities Crown Property Management/ Brian Ramsey 4213 Salem St. Anaconda, MT 59711 (406) 555-7534 C420 Due on Receipt Other Anaconda Water Works/ Dennis Thomas 1104 West 4th St. Anaconda, MT 59711 (406) 555-3842 5529-1 Due on Receipt Utilities Butte Waste Management/ Teresa Moore 666 Hellsgate Ln. Butte, MT 59701 (406) 555-4982 NTGD00 Net 15 Utilities McCarthy’s Automotive Supplies/ Patsy McCarthy 1900 Butte Hill Rd. Phoenix, AZ 85001 (480) 555-2235 VW-112 Due on Receipt Suppliers Hamill Car Detail Supplies/ Katlin Hamill 24567 Danny Boy Way Corona, CA 92877 (951) 555-9988 921-ZP Net 15 Suppliers PriceCo Due on Receipt Suppliers Deer Lodge County Treasurer/ Regina Parsons County Courthouse 800 Main St. Anaconda, MT 59711 (406) 555-3732 999-99-9999 Due on Receipt Tax Agency Menu of Services (Services Are Non-Taxable) Individually Priced Repair Services QuickBooks Pro 2015 Unit 1: Learning Project · · Rock Chip Windshield Repair$55 · Automotive Paint Sealant$125 · Paint Over Spray Removal$25 · Paint Touch Up$20 Individually Priced Cleaning Services · · Hand Wash$20 · Hand Wash with Interior$35 · Electronic Odor Elimination$25 · Shampoo Carpet$60 · Shampoo Upholstery$50 · Engine Clean$45 · Exterior Polish & Wax$75 · Exterior Wax$45 · Water Spot/Tar Removal$15 · Individually Priced Detailing Services · · Vinyl/Leather Treatment$25 · Tire/Bumper Dressing$15 · Shampoo Trunk$25 Packaged Cleaning Services (prices are for a small car/large car) · Paint Protection ($90/$125): A thorough hand washing and drying, followed by an application of a protective sealant. This standalone service involves a thorough hand washing and drying. A clay bar is used to remove any paint overspray and contaminants found on your new vehicle. Then, a high-quality paint sealant is applied, which produces a long-lasting, high-gloss shine on all automotive paint finishes. The paint sealant provides resistance from UV rays, salty air, snow, sleet, insects, road film, harsh detergents, and environmental contaminants that can prematurely fade or discolor automotive finishes. The paint sealant should be reapplied every six months to sustain color and shine, and to provide protection. Packaged Detailing Services (prices are for small car/large car) · Full Interior/Exterior Detailing ($180/$225): Hand washing and drying, as well as machine buffing and waxing of exterior. Interior cleaning, shampooing, with leather and glass protection applied. This service starts with a hand washing and drying of your vehicle. The painted surfaces are machine buffed and waxed with a Brazilian carnauba wax to restore color and shine. Tires and wheels get special cleaning and tire dressing. All cloth, vinyl, and leather surfaces, including the seats, door panels, carpets, and the trunk, are cleaned with non-aggravating solutions that get into crevasses, including door jambs. Vinyl surfaces are treated with UV protectant, and leather surfaces receive an application of leather conditioner. After a complete window cleaning, Rain-X is applied to the exteriors. Also included are vacuuming with deep upholstery and carpet extraction, and engine cleaning. · Full Exterior Detailing ($160/$180): Hand washing and drying, as well as machine buffing and waxing of exterior. This is a great service to give your car during the winter months to remove built-up mud and grime. It begins with a careful hand washing followed by drying with a chamois. The door jambs are cleaned, and premium products are used to remove bugs and tar. The tires are cleaned and dressed, and the wheels are cleaned and polished with products made especially for your type of wheel. The glass is polished and cleaned, and then it is coated with Rain-X to improve visibility in wet conditions. Next, the car is machine polished to remove light-to-medium scratches, swirl marks, and dull and oxidized paint. Brazilian carnauba wax is applied by hand to bring out the deep brilliance of your car’s finish. All chrome trim and logos are detailed to remove dirt, grime, and wax buildup. Finally, our technicians inspect the car with the customer to ensure satisfaction. Our goal is to have every car drive out of our driveway looking like it just drove off the showroom floor. · Interior Detailing ($100/$140): Interior cleaning and shampooing, with leather and glass protection applied. This service includes a thorough vacuuming with deep upholstery and carpet extraction, which removes most stains and all dirt. All cloth, vinyl, and leather surfaces are cleaned with non-aggravating solutions, including the seats, door panels