Chapter 1 QuickBooks Online Test-drive Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. The Sample Company – Craig’s Design and Landscaping Services The sample company, Craig’s Design and Landscaping Services, is shown in Chapter 1. Using the sample company, you learn about the basic features of QuickBooks Online (QBO). To use QBO, you need to sign in with a web browser. Browsers include Internet Explorer, Firefox, Chrome, and Safari. QBO can be used wherever you are − the web, iPhone, iPad, and Android. Go online to to learn more. Completing Chapter 1 helps you become familiar with the user interface. In Chapters 2 through 10, you log into QuickBooks Online and work with a merchandising company that you set up. 2 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. QBO Tips QBO Tips Start your Internet browser. Go online to Each time you start the sample company, a unique verification code is typed. The security verification changes with each log in, and the sample company, Craig’s Design and Landscaping Services, starts over again. Data is not saved when you sign out or exit the sample company. Throughout the chapter, Check Your Progress assignments are shown. Answers are provided so you can check your work. Throughout the chapter, Check Your Progress assignments are shown. Answers are provided so you can check your work. Before starting Exercise 1-1, sign out of QB Online. Then, start a new QBO session to complete the 12 transactions in Exercise 1-1. Continue with Exercise 1-2. You should not sign out until Exercises 1-1 and 1-2 are completed. 3 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. Files Saved in Chapter 1 The chart below shows the Excel files saved in Chapter 1. Files can be saved to a USB flash drive, hard-drive location, network, or external media. To identify your file, you could add your name at the end of the suggested file name. ExcelPage Chapter 1_CofA_sample company15 Exercise 1-2_Journal38 Exercise 1-2_Transaction Detail by Account39 Exercise 1-2_Trial Balance39 4 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. QBO Home Page 1. Navigation Bar. 2. Search transactions. 3. Create transactions. 4. Recent transaction list. 5. Gear to manage settings. 6. Help 5 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. Chart of Accounts In QBO, the chart of accounts is a complete list of a business’s accounts and their balances. This table shows the chart of accounts numbering system. NumbersType 1000sAssets 2000sLiabilities 3000sEquity 4000sIncome 5000sCost of Sales 6000sExpenses 6 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. Troubleshooting If you do not use QB Online for about an hour, it will automatically close. When you sign out or exit the sample company, data is not saved. Each time you start the sample company, and type the security word, you begin a new session of Craig’s Design and Landscaping Services. To complete Exercise 1-1, you should start a new session of the sample company. Exercises 1-1 and 1-2 work together. Sign out after completing Exercise of 11
Online Learning Center Go online to for additional resources. Link to Student Edition, then select Chapter 1. The Online Learning Center includes: o Narrated PowerPoints. o Going to the Net exercises. o Videos. o Multiple-Choice Questions. o True or False Questions. o Analysis Questions. o Glossary of Terms. Copyright ©2017 by McGraw-Hill Education. All rights reserved. 8 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. YouTube Videos Watch QuickBooks Online for iPadQuickBooks Online for iPad Watch Elissa Greenly Talks about QuickBooks OnlineElissa Greenly Talks about QuickBooks Online 9 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. Going to the Net To compare QuickBooks Online to QuickBooks desktop, go online to The QuickBooks Online Difference > click Compare. Answer these questions. The QuickBooks Online Difference In terms of device access, compare QuickBooks Online (QBO) to QuickBooks Desktop (QBD) Explain support options Explain cloud access. 10 of 11
Copyright ©2017 by McGraw-Hill Education. All rights reserved. Analysis Questions Define the chart of accounts and its categories. How do accounting textbooks define the chart of accounts? What do you select to add account numbers to the chart of accounts? What numbering system is used for the Chart of Accounts? 11 of 11