QuickBooks Chapter 3/ Questions

Identify the different periods of time that QuickBooks Accountant provides for an income statement.

Day, week, two week, month, quarterly, yearly.

List five report modification features of QuickBooks Accountant the can be applied to an income statement.

Percent of income, change the columns, font type, font style, size

List at least three of the present formats that QuickBooks Accountant provides for an income statement.

Profit & Loss Standard, Profit a& Loss Detail, Profit & Loss YTD Comparison

Describe the steps necessary to create an income statement for a period other than one on the computer's current system date.

Reports, Company & Financial tab, Find the Profit & Loss Standard report, Change the From date to 10/01/14 and the To date to 10/31/14.

Describe the steps necessary to modify an income statement so that it includes comparative information.

Reports, Company & Financial tab, Find the Profit & Loss Standard report, Customize Report, Click Header/Footer tab, In the Report Title Type Comparative Income Statement.

How would you modify an income statement to include a column describing the percentage relationship between expenses and total revenues?

Reports, Company & Financial tab, Find the Profit & Loss Standard report, Customize report, click Display tab, Check the boxes % of Income and % of Expenses, then Click OK.

Describe the steps necessary to generate an income statement in QuickBooks Accountant.

Reports, Company & Financial tab, Find the Profit & Loss Standard report, Customize report, click Header/Footer tab, and then uncheck the Date Prepared, Time Prepared, and Report Basis check boxes, and then click OK.

Describe the steps necessary to create a standard income statement.

Reports, Company & Financial tab, Find the Profit & Loss Standard report.

How does QuickZoom help you further investigate an income statement?

To see exactly how those numbers are produced and where they came from.

How could a manager use QuickZoom to access underlying information as reported in an income statement?

When QuickBooks Accountant is open the manager can use QuickZoom to look at any payment that was made within whatever date they wanted.