Online Practice Sets

The practice sets include step-by-step instructions, realistic source documents. and a financial ratio worksheet. Solutions included.

Create a new company; master the home page; select key preferences; set up Chart of Accounts, Customers, Vendors, and Employees; record first month’s transactions; reconcile the bank account; prepare the trial balance, financial statements and ratio analysis.

Suggested prerequisites:

  • 10-Key skills
  • Knowledge of the accounting equation and accrual accounting.
  • Debits and credits.
  • Bank reconciliations.
  • Financial statements.
  • Financial ratios.

QuickBooks Online Version Practice Sets (coming soon)

JS Landscaping Company

A beginning QuickBooks desktop practice set for a new small business with 37 business transactions in its first month of operations. Company has no inventory, cost of goods sold, or sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and a ratio analysis worksheet.

Anderson Law Firm

A beginning QuickBooks Desktop practice set for a new small business with 36 business transactions in its first month of operations. Company has no inventory, cost of goods sold, or sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and a ratio analysis worksheet.

Freedom Furniture

An intermediate manual practice set for a new small business with 47 business transactions in its first month of operations, including inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and ratio analysis worksheet.

Betty’s Bakery

An intermediate manual practice set for a new small business with 64 business transactions in its first month of operations, including Inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and a ratio analysis worksheet.

Cricket Club Men’s Store

An intermediate manual practice set for a new small business with 45 business transactions in its first month of operations, including Inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and a ratio analysis worksheet.

Pampered Pooch

An advanced practice set for a new small business with 89 business transactions in its first month of operations with individual transactions from day one through the end of the month. Includes Inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and a ratio analysis worksheet.

Sterling Surf Shop

An advanced practice set for a new small business with 104 business transactions in its first month of operations with individual transactions from day one through the end of the month. Includes Inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and a ratio analysis worksheet.

Vicki’s Video Village

An advanced practice set for a new small business with 92 business transactions in its first month of operations with individual transactions from day one through the end of the month. Includes Inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, a bank statement to be reconciled, and a ratio analysis worksheet.