ACC 210 Wk 2 Discussion - QuickBooks Reflection | eBooks | Education

ACC 210 Wk 2 Discussion - QuickBooks Reflection

ACC 210 Wk 2 Discussion - QuickBooks Reflection PLDZ-13580
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ACC 210 Wk 2 Discussion – QuickBooks Reflection

 

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to other students.

Due Thursday

Respond to any of the following in a minimum of 175 words (20 points):

Discuss the success you had in completing sales and purchase transactions in QuickBooks this week. What steps in the process did you find easiest to follow? Which did you find most challenging? If you have worked with other accounting information systems, did you find sales and purchase transactions easier to complete in QuickBooks, or the other system(s)? Why?

Chapter 3 – What are source documents? Why are they so important? Give examples of source documents along with its significance. Why are reports so important to a business?

Chapter 4 – What role do vendors play in a business? What is the purpose of inventory and what role does it play in business? What is a statement of cash flow and is it important to a business? What does “on account” mean? What does “Accounts Payable” mean? What benefit does the A/P report provide? What are debit memos and are they a bad thing?

Chapter 5 – What role do customers play in a business? What is sales revenue and how does it relate back to customers? What does “Accounts Receivable” mean? What benefit does the A/R report provide? What are credit memos and are they a good thing? What is a Trial Balance? What does an account reconciliation provide?

Due Monday

Reply to at least 2 of your classmates (75+ words each)(10 points each). Be constructive and professional in your responses.

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