ACCT 100 – Introduction to Accounting
Computer Project – Using QuickBooks
The data for the project can be found on pages 186-187 of your text. This portion of the assignment is to be
completed using a very popular software accounting package called QuickBooks (QuickBooks Pro Version
2009).
What you need to Start!
You will need your text, your graded journal entries, a pencil, and a USB Flash Drive on which to save your
work. To download the files from the internet, follow the instructions below.
Downloading Instructions
Go to: http://www.cerritos.edu/talenikov
Choose ACCT 100 from the left margin
Click on “Wells‟ Consulting”
Click on the "Quick Books File" link for Wells‟ Consulting Services.
Click “Save” and change the directory to save the file to your flash drive. DO NOT OPEN THE FILE
DIRECTLY FROM THE WEB SITE. You must save it to your flash drive by pressing the Save key.
Go back to my website and click on the “Worksheet” link. Click “Save” and change the directory to
save the file to your flash drive. DO NOT OPEN THE FILE DIRECTLY FROM THE WEB SITE.
You must save it to your flash drive by pressing the Save key.
The company has already been set up in QuickBooks and all of the accounts you will need have been added to
the chart of accounts. You will need to customize the company, prepare journal entries, and print out the
necessary reports. The directions for these procedures are shown below:
Getting Started:
From the desktop, click on the “QuickBooks Pro 2009” icon. A box will appear in the middle of the screen with
the heading, “No Company Open”. Click on the middle box that says “Open an existing company”.
You will then be prompted for the location of the file. You will need to change the directory to your flash drive.
After the contents of your flash drive are displayed, double-click on the Wells’ Consulting Services file, and
the file will open.
You now need to customize your company. Go to the “Company” menu item from the tool bar and choose the
“Company Info” option. Give your group a unique name and ADD your group name in front of the “Well‟s
Consulting Services” company name. Do not delete “Wells‟ Consulting Services”.
You will then perform the following operations in the order given. Please read and follow the directions
carefully.
1. Record Journal Entries
You will be inputting your graded journal entries from Part 1 of this assignment. To input the monthly
transactions, go to "Company" on the tool bar across the top of the screen, then choose "Make General Journal
Entries". MAKE SURE YOU CHANGE THE DATE!!! USE THE MONTH AND DAY FROM THE BOOK
AND 2014 FOR THE YEAR! Use the drop down menus to pull up the correct account names. Use the mouse
or the tab keys to enter the proper amounts. You do not need to enter a description or memo. Your journal
entries should begin with #2. Do not add any new accounts, all the accounts you need have already been entered.
Click the „Next' button after you have entered each entry. This will give you a new journal window for each
transaction and your journal entries will be numbered sequentially. Complete all subsequent regular journal
entries from January 1 to January 31 in this manner. Do not enter all of the journal entries in the same window,
press “Next” after each transaction.
If you need to correct a previously entered journal entry, click “Previous” or “Next” buttons to scroll through all
the entries you have entered. Once you find the one that needs to be changed, make the appropriate changes and
click “Save and New”. WARNING: The journal entries have been automatically numbered, but as you scroll
through them they may not be in numerical order. Just keep clicking “Previous” or “Next” until you find the
entry you are looking for. Don’t do the adjustments yet!
2. Print out a Trial Balance
Print out a Trial Balance. Go to "Reports", then click the "Memorized Reports" Option, then click on "Trial
Balance". THE DATES OF THE REPORT SHOULD BE JANUARY 1, 2014, TO JANUARY 31, 2014. The
Trial Balance will be helpful when you are preparing your adjusting journal entries. Your Trial Balance must
agree to the Trial Balance attached. It is important that you correct any errors before proceeding. Check the
total and the individual account balances.
3. Prepare the Worksheet in Excel
After your Trial Balance agrees to the sample attached you are ready to complete the worksheet and enter the
Adjusting Entries into QuickBooks. Minimize the QuickBooks Screen and go into the Excel Program. (Don't
close out QuickBooks; just minimize it.) Open the Excel file that you downloaded on to your flash drive from
the Internet. PUT YOUR GROUP NAME IN BOX 1A ON THE WORKSHEET. Use the information from
requirement 5 & 6 of your text to complete the worksheet. Don't forget to save your worksheet. After you have
completed the worksheet, make sure you get the check figure for net income. (See #5 below) Save your work to
your flash drive and print out the worksheet.
4. Enter the Adjusting Entries
After completing and balancing out the worksheet, you are ready to enter the Adjustments into
QuickBooks. Don't forget that the ONLY way to get data into the accounting system is through the General
Journal process. Get back into the QuickBooks Program by restoring the Window you minimized in step #3.
Enter the adjusting entries the same way you entered the other transactions. Go to the “Make General Journal
Entries” window. All the adjustments are at the end of the month so they should all be dated January 31. Click
„Next‟ after each adjustment.
Print an Adjusted Trial Balance (Reports, Memorized Reports, Adjusted Trial Balance), the dates should be
January 1, 2014 to January 31, 2014. The total of your Adjusted Trial Balance should be $216,383.00.
5. Print the Financial Statements
You will now print the Financial Statements. Go to "Reports" then "Memorized Reports". Print out the
"Income Statement” and the "Balance Sheet". Check Figures: Net Income $33,542.00; Total Assets
$157,109.00.
6. Preparation of Closing Entries
The closing process is not done automatically in QuickBooks, therefore, you will have to enter the closing
journal entries manually. Complete the closing journal entries using the journal entry window you used for your
monthly transactions and the adjusting entries ("Company" then "Make General Journal Entries"). Your closing
entries should be dated January 31, 2014. You can get the information for the closing entries from your Profit &
Loss Statement. Prepare the four (4) closing entries in QuickBooks as follows:
Close Revenues
Close Expenses
Close Income Summary
Close Drawing
7. Print out a Journal
Print out the journal for JANUARY 1, 2014 to JANUARY 31, 2014. Go to "Reports" then "Memorized
Reports" then "Journal", and Print.
8. Print a Post-Closing Trial Balance
Print a Post-Closing Trial Balance. Go to "Reports" then "Memorized Reports" then "Post Closing Trial
Balance". The total of the Post Closing Trial Balance should be $157,475.00.
Exit the Program
Go to "File" then "Exit". Be sure to leave your flash drive plugged in until you have exited the program and
never remove it while the light is on.
Turn in the following reports in the following order:
1) Cover Sheet (include each persons name)
2) Trial Balance
3) Adjusted Trial Balance
4) Worksheet
5) Profit & Loss (Income Statement)
6) Balance Sheet
7) Journal, including the adjusting and closing entries
8) General Ledger, including the adjusting and closing entries
9) Post Closing Trial Balance