raeoflyte
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Post by raeoflyte on Feb 6, 2017 15:43:03 GMT -5
I'm in an accounting class that has 1 assignment that we have to use quick books for. The instructor gave a 20 minute webinar on quickbooks that kind of walked through logging in, and that's it. Considering I'm 3 weeks in I'm pretty impressed that I'm comfortable with my data and my balance sheet.
I can't figure out how to get a report to show the "output of the transactions journal of the inventory account" or anyway to show a running transaction balance of the inventory account. The instructor also wants journal entries limited to inventory which doesn't make sense to me, but I think I can do that outside of quickbooks if I have to. I've upgraded to the top tier of quick books to make sure I have inventory reporting and I do. I've double checked my journal entries and I'm using quickbooks inventory account. I'm not sure what else to do. The homework instructions are: To submit: go to home -reports - balance sheet and be sure your dates include August 1, 2015 to August 9, 2015. Also click on the inventory figure on the balance sheet to see the transactions within inventory.
The bolded part is what I've tried to figure out/work around, but I'm stumped. Help?
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taz157
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Post by taz157 on Feb 6, 2017 15:49:18 GMT -5
Did you print the Balance Sheet like she said for the time period? You may need to customize the report to have the correct dates. If so, double click on the amount for the Inventory account. That will pull up the activity that occurred during that time frame.
PM anytime as I use QuickBooks very often in my line of work.
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raeoflyte
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Post by raeoflyte on Feb 6, 2017 16:02:56 GMT -5
Did you print the Balance Sheet like she said for the time period? You may need to customize the report to have the correct dates. If so, double click on the amount for the Inventory account. That will pull up the activity that occurred during that time frame. PM anytime as I use QuickBooks very often in my line of work. OMG--I clicked everything I could under and around the word inventory... I never thought to click on the dollar amount, but that pulls up another report. I knew it would be something silly like that. I had emailed the instructor explaining that I couldn't find it, but no response. Thank you!!!
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haapai
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Post by haapai on Feb 6, 2017 16:27:07 GMT -5
Is it possible that the prof meant the P&L report instead of the balance sheet? Why would a B/S have a date range?
FWIW, Is Quickbooks for Dummies a required or recommended text for this class? If it isn't, you might find it helpful. I definitely remember taking a class using Access that didn't list that text in the syllabus but almost everyone in the class seemed to own a copy. At about $25, new, the extra text is a pittance compared to tuition and the value of your time.
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raeoflyte
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Post by raeoflyte on Feb 6, 2017 16:31:42 GMT -5
Is it possible that the prof meant the P&L report instead of the balance sheet? Why would a B/S have a date range? FWIW, Is Quickbooks for Dummies a required or recommended text for this class? If it isn't, you might find it helpful. I definitely remember taking a class using Access that didn't list that text in the syllabus but almost everyone in the class seemed to own a copy. At about $25, new, the extra text is a pittance compared to tuition and the value of your time. This was the only assignment that used quickbooks (which also doesn't make sense to me, but whatev's) otherwise I would definitely be getting that. I actually use quickbooks to import my personal bank account info into excel, but that functionality didn't help me at all on this assignment.
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taz157
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Post by taz157 on Feb 6, 2017 16:39:37 GMT -5
Is it possible that the prof meant the P&L report instead of the balance sheet? Why would a B/S have a date range? Agree there typically isn't a date range for the Balance Sheet. In QuickBooks, if you type in the date as of 8/9/15 and want to drill down in the accounts, then the reports will only be 8/9/15 as that's the Balance Sheet range. If you change the range to 1/1/15-8/9/15 initially, then any drill down reports will be that range.
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tskeeter
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Post by tskeeter on Feb 6, 2017 18:47:54 GMT -5
Did you print the Balance Sheet like she said for the time period? You may need to customize the report to have the correct dates. If so, double click on the amount for the Inventory account. That will pull up the activity that occurred during that time frame. PM anytime as I use QuickBooks very often in my line of work. OMG--I clicked everything I could under and around the word inventory... I never thought to click on the dollar amount, but that pulls up another report. I knew it would be something silly like that. I had emailed the instructor explaining that I couldn't find it, but no response. Thank you!!! Rae, you have now learned how the drill down function works in most accounting software. Everything from QuickBooks (small businesses) to SAP ERP systems (multi-billion dollar multinational businesses). Click on a number and the system takes you to the detailed transactions that make up the number. The date range piece prevents you from getting 30 years of transaction detail (which would take a long time to retrieve and display).
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