QuickBooks Company Setup Problem

1. At the Start screen double click on QuickBooks Premier.

2. Select Express Start tab.

3. Key in the following in the following information

o Your Name Music

o Select Your Industry a General Service- based business.

o Select Sole proprietorship

o Select Tax Id 45-6123789

o 228 Pearl Street

o Scranton, PA 18501

o U.S. (ignore phone, fax, email and web).

o Phone: 734-973-3708

4. Your only bank account is titled Three Bank. Three Banks account number is 4567 and has a 9/1/18 beginning balance of $10,000.

5. Select no when asked if you want to order forms.

6. Select cancel to create an alert.

7. The following will be the Account Titles and Account numbers you will be using along with any balances.

Account Type Account Number Balance

Three Bank Bank 1010 already entered

Music Supplies Other Current

Asset 1300 -0-

Music Instruments Fixed Asset 1700 $4,000

(Change the Furniture and Equipment to Music Instruments)

Accum. Depreciation Fixed Asset 1750 -0-

Notes Payable Long-Term Liab. 2020 $2,000

Your Name, Capital Equity 3010 to be determined

Your Name, Drawing Equity 3020 -0-

Owners Equity Equity 3100 -0-

Piano Lessons Income 4010 -0-

(Set up as a service item at a rate of $35. 00)

Guitar Lessons Income 4020 -0-

(Set up as a service item at a rate of $30 per hour)

Advertising Expense 6050

Instrument Expense 6150

Rent Expense 6400

Telephone Expense 6450

Utilities Expense 6500

8. Export the Account Listing to the Excel file for this assignment and upload to the blackboard

Select Reports, List, Account Listing.

9. Export the Trial Balance as of 9/1/18 to the excel file for this assignment and upload to the blackboard.

Select Reports; Accounting and Taxes; In From Date select 9/1/18; in To Date select 9/1/18