Discussion

1st Discussion:

Examine the customer and vendor functions in QuickBooks.

• Use one scenario or example to explain a feature or function that will help you make better management decisions in regard to customers and vendors.

2nd dis:

• Research associations / organizations designed to support users of QuickBooks (e.g., NACQ). Identify the associations / organizations you found in your research and briefly summarize the intent of each. Then, generally speaking, discuss the key benefit of belonging to such associations / organizations from a user perspective.

3rd Discussion:

• Suggest one consequence of improperly classifying an account type (e.g., if an expense is classified as an asset or an asset is classified as an expense). Describe the effect on at least two of the four major financial statements: Profit & Loss (Income) Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows.

4th Discussion:

• QuickBooks provides many tools for managing and securing your QuickBooks system (e.g., the QuickBooks Audit Report, and the QuickBooks' Accountant Copy). Evaluate the effectiveness of these and other tools that are used to manage and secure QuickBooks.

5th Discussion:

• Discuss at least one way in which the concepts of this course can be applied to your current or future work position.