Farm Branch Rentals

Farm Branch Rentals needs some assistance in adding 2 new vendors & 2 new customers. Please add the following vendors and customers beginning balances to the company within Quickbooks. Be sure to include the balances as of December 1, 2015.

LMNOP Rental

  • 4537 White Road
  • Siler City, NC 36647
  • Phone Number: 252-876-9987
  • Contact: Tim Waltz
  • Vendor Type: Supply
  • Account Balance: $2359

HJW Reality

  • 543 Mill Lane
  • Smithfield, NC 65343
  • Phone Number: 252-667-9833
  • Contact: Nicole Smith
  • Vendor Type: Supply
  • Account Balance: $765

Geller Construction Company

  • 76 Rock Quarry Road
  • Smithfield, NC 65463
  • Phone Number: 252-876-0032
  • Contact: Kevin Lowe
  • Customer
  • Account Balance: $2134

Rocks Etc.

  • 712 Hwy 158 E
  • Siler City, NC 77634
  • Phone Number: 252-443-0976
  • Contact: Justin Tart
  • Customer
  • Account Balance: $543

After adding the vendors & customers, provide a report that explains the steps in detail, with screenshots showing how to add the vendors & the customers in the software.

Submit the following for this assignment:

  • A memo of 350-500 words to Farm Branch Rentals that covers the following:
    • Explains the steps for setting up vendors & customers
      • Use screenshots to show how to add the vendors & customers in the software.Include the required items that are needed and other items that you think of that would be helpful in properly adding vendors & customers.
      • What the aged-payables & aged-receivables reports are.
      • How they might be used to make management decisions from both the view of internal and external users.
      • Include how the reports would be used to make management decisions for the business.
  • Include an aged-accounts payable report showing the correct set up of the vendor accounts.
    • Include the beginning balances for these accounts as of December 31, 2015.
    • Save the aged-payables report as a PDF document named P3-IP1_AP_LASTNAME.
    • Include an aged-accounts receivables report showing the correct set up of the customer accounts.
    • Include the beginning balances for these accounts as of December 31, 2015.
    • Save the aged-receivables report as a PDF document named P3-IP1_AR_LASTNAM
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