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Competency in QuickBooks Online

Problem Statement / Requirements:

You have been hired by Rain Cross Auto Detail to manage their accounting operations. The first thing you will need to do is to create their accounting operations in QuickBooks Online. You will use the information from Chapter 13 in QuickBooks Online - Comprehensive to complete this project. If you already downloaded the Zip file under Course Info or Preparation, you do not need to download the files again.  Download Chapter 13 Files [ZIP].   Ask your instructor for information about downloading the Free Trial of QuickBooks. Instructions Part I: Create the new Rain Cross Company in QuickBooks Online using the information provided in Chapter 13 and submit the reports listed as Deliverable I for grading. Part II: Record the transactions for Week 1, 2, 3, and 4 using the information provided in Chapter 13 and submit the reports listed as Deliverable II for grading. Part III: Record the transactions for Week 5 using the information provided in Chapter 13 and submit the reports listed as Deliverable III for grading. Part IV: Write a 2–3 page memo in which you summarize the firm’s financial position, based on the information you provided in Part III. As part of your analysis, include information that discusses the firm’s liquidity and profitability by performing ratio analyses such as current ratio, quick ratio, and profit margin. The memo will be submitted electronically as a Microsoft Word document with SWS formatting. This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions. The specific course learning outcome associated with this assignment is: Generate accounting records and reports through the use of various functions and applications in QuickBooks. By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution's policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates. Institution Release Statement
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