Paying Supplier Invoices Now it’s time to prepare the cheque for the Jammer Office Equipment invoices. Jenna would like one cheque, which pays both invoices. Her first cheque number will be 11000 and should be dated November 15. Print the cheque on plain paper. Fidelity Insurance will take the money out of AIS Solutions’ bank account automatically on November 5th. Enter the automatic payment of Bill#FI3298. Creating an Expense Cheque Now it’s time to enter the bills for the purchases that Jenna has made, and has already paid for. We are going to enter those as expense cheques. Jenna paid for them with the debit card from her business chequing account. Here are the details: Date Supplier Invoice # Purchased Expense Account HST/GST Taxable Total Invoice before HST/GST October 1 Blanset Property Management October Rent October Rent Rent Yes $2250.00/month November 2 Staples Nov02 Paper, Pens, Toner for Printer Office Supplies Yes $92.89 November 15 Intuit Canada IN7643 QBO November Dues and Subscriptions Yes $19.99 Enter the above transactions into QBO. Automating in QBO Create Recurring Customer Invoice Sarah Geller and Randall Wright were extremely happy with the bookkeeping services that Jenna has provided and have agreed to continue the use of AIS Solutions Bookkeeping Services. The fee is the same every month, so let’s set up a recurring invoice for them, so that it generates in QBO automatically on the 1st of every month with no end date.
Run a Profit and Loss Statement for her for the Fiscal Year to Date at January 31st. Save the report with the name January YTD P&L and share this report with all other company users. Customizing Content of a Report Jenna loved the reports that you sent her, but has asked for a specific report. She would like you to run a Profit and Loss statement for her for the months of October to December, but would like to see the individual months on the report, not just a total for the three months. Run the report for Jenna and save it with the name October to December Monthly Profit and Loss. Again, choose the option to “Share this Report with Other Users” Exporting Reports to Excel Jenna has asked for her Profit and Loss statement to be exported into excel and emailed to her so that she can play around with some of the numbers to see what her business could do. Run the Profit and Loss statement for the Fiscal Year to Date to January 31. Export it into Excel and email it to your instructor. The filename should be as follows YourName_P&LJan31.xlsx Create an Automated Report Now that Jenna has some income and expenses, she would like to receive a report on the 15th of every month that tells her how she is doing. So that we don’t forget to send this to her, let’s set up the report to automatically generate and be emailed to her. Run a Profit and Loss statement with the date range as “Last Month’”. Save this report with access for all users, and then set it up to automatically email to Jenna on the 15th of every month with the report attached as an excel file to the email. And you are done! Jenna’s business is thriving and you’ve laid down the foundation for her to track her monthly revenue and expenses, and receive some reports on a regular basis. Congratulations