QUARTERLY TASKS: Verify the A/R, Inventory & A/P subsidiary ledger balances agree with the trial balance; document this in your Word document of March questions.
Example: Show the comparison by using snips of the reports**, this will prepare you for more detail comparisons with payroll reports in July.
**QuickBooks has many reports; review the variety of reports in the different areas, e.g., Company & Financial, Customers & Receivables…
As measures of internal control:
a) “Print” (create PDF or Excel) report of quarterly numerically sorted invoices from the Customer Center/Transactions/Invoice (see bottom of QuickBooks screen for report) to ensure all invoices accounted for.
b) “Print” quarterly check detail report for Dave’s review for reasonableness of payees and amounts, Dave initials report (hint: export to Excel to enter initials or PDF and enter text).
Note: Since there is more than one report to use for the subsidiary ledger balances, e.g., Customer Ledgers…; allow for this flexibility.
? As measures of internal control:
a)
NOTE: Make students aware that the “Invoice Register” is the invoice listing found in the Customer Center\Transactions\Invoices\Run Report Numbers reflect sequential order; completion of this task is noted on March task list.
b) NOTE: This report was created from Reports\Banking\Check Detail, then exported into Excel to note Dave’s initials:
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