Capstone Project — YinYang Graphic Design
After completing this capstone project, you'll be able to set up and manage a complete job using QuickBooks Online's Projects feature to track profitability, handle contractor payments through the Contractors Center, and record various business transactions including inventory management, bartering, and mileage tracking. You'll work with YinYang Graphic Design's Lunch-and-Learn workshop project for JJ's Boutique, using features like job costing to assign revenues and expenses to specific projects, Price Rules to apply discounts to client types, and inventory adjustments to track merchandise sold and given away. By the end, you'll prepare financial reports and payroll processing for the business to analyze whether the workshops are profitable and understand the full impact of overhead costs.
In this chapter
- Migrating an Existing QuickBooks Desktop file to QuickBooks Online
- Starting a New QuickBooks Online File From Scratch for an Existing Company
- Step 1: Choosing a Start Date
- Step 2: Create the Company Subscription and Customize the QuickBooks Online file’s Start Settings
- Step 3: Setting Up the Chart of Accounts and Other Lists
- Step 4: Entering Opening Balances
- Step 5: Entering Open Transactions
- Step 6: Entering Year-to-Date Income and Expenses
- Step 7: Adjusting Sales Tax Payable
- Step 8: Adjusting Inventory and Setting Up Fixed Assets
- Step 9: Set Up Payroll with YTD Payroll Information
- Step 10: Verifying Your Trial Balance
- Step 11: Closing Opening Balance Equity
- Step 12: Setting the Closing Date