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Main · Arts and Sciences · School of Business

Accounting with Quickbooks
ACCG-161

  • Summer 2022
  • Section 90572
  • 2 Credits
  • 06/04/2022 to 08/01/2022
  • Modified 06/03/2022

Description

Students will have hands-on experience in setting up an accounting system for a new or existing company using the QuickBooks general ledger accounting software. Students also will learn how to perform numerous types of accounting procedures using QuickBooks. (F,Sp)

Requisites

Prerequisite Courses: None
Placement Scores: Reading Level 4 and Math Level 4
Recommended: ACCG 100 or equivalent course coursework or equivalent work experience

Contact Hours

Lecture

 32

Lab

0

Other

0

Total Hrs

32

Student Learning Outcomes

Upon successful completion of this course, students should be able to:

  1. Set up an accounting system for a new company or an existing company in the QuickBooks general ledger software, including setting up the chart of accounts, employee list, vendor list and customer list.
  2. Write checks, use bank account registers, and reconcile the bank account.
  3. Enter sales information, including using sales forms, using multiple price level and processing sales orders.
  4. Record customer payments and prepare deposits.
  5. Enter and pay bills.
  6. Analyze financial data by creating reports and graphs.
  7. Set up inventory, including ordering inventory, entering products into inventory, receiving inventory and recording the bill.
  8. Track and pay sales tax, including setting up the tax rates and agencies and determining what amounts are owed.
  9. Write payroll checks, track tax liabilities and write checks to pay taxing agencies.
  10. Write estimates, create invoices from estimates, and update job status.
  11. Track time in order to invoice customers for time and mileage
  12. Customize forms and write QuickBooks letters.

Materials

Computer Accounting with QuickBooks Online: Cloud Based Approach

  • Author: Carol Yacht and Matthew Lowenkron
  • Publisher: McGraw-Hill Custom
  • Edition: 4th
  • ISBN: 978-1-266-52201-7 (loose leaf edition)

You already have access to the online version of the textbook through the "Course Materials" link in the D2L "Start Here" module.

Evaluation

Student Electronic Access to Grades

D2L is the College’s Course Management System which includes a gradebook function allowing students access to their grades in order to receive timely and meaningful feedback on their progress in the course at any time. These grades will align with the Evaluation Criteria listed in this syllabus. D2L is accessed through the MyLCC page.

Whenever practicable, results for graded items should be posted electronically within 48 hours after the instructor has completed the grading process for the items, and final grades for the course should be entered no later than the specified grading day.

Criteria

Types of evaluations and related weights
Type Weight Topic Notes
Quizzes 100 points (10%)

Read the "Start Here" material in D2L, the syllabus and the preface to the textbook during the first two days of class.  Then take the Intro Quiz (40 points) which is over the information covered in that material.  I will need to drop any student who does not complete the Intro quiz by the end of second week of class.  The link to the quiz will be found in the D2L Start Here module.  It is has 20 questions and no time limit. 

There is a second quiz (60 points) to be completed in Week#7.  It is a matching quiz that replicates Exercise 7.1 and is taken in D2L.  The link to the Ex 7.1 Quiz will be found in the D2L Chapter 7 module.  It is has a 30 minute time limit. 

Projects 900 points (90%)

We will cover the first 8 chapters in this course.  There are two exercises at the end of each chapter.  Each chapter will walk you through various procedures.  Exercise 1 at the end of each chapter usually has additional tasks for you to complete similar to those covered in depth in the chapter.  (Exercise 1 for Chapter 7 is recreated as a matching quiz to be taken in D2L).   These tasks add to the work you have already completed in the chapter. You need to do both the chapter work and Exercise 1 for each of the 8 chapters that we cover.  Exercise 2 directs you to export various reports from QuickBooks to Excel or to a pdf format.  The reports need to be submitted in a format that I can access.  I cannot open files saved in a Mac version.  You will be graded on those reports.  Starting with Chapter 3, each chapter adds to work done in previous chapters so you need to complete the chapters in sequence.  Part of your grade will require reading feedback given in D2L for a graded assignment, and correcting any mistakes so that the next submitted chapter assignment is free from previous errors.  Any errors in the Chapter 2 report, Chart of Accounts, must be corrected before a student can move on to Chapter 3.  For Chapter 3 - 7, any uncorrected mistakes will result in additional deductions in subsequent chapters until the mistakes are corrected.  If you do not correct mistakes, at some point previous uncorrected errors will compound to the point that I will not be able to grade subsequent assignments and they will receive a zero score.  A grading rubrics will be provided in each D2L chapter module.  The reports you submit will summarize the work you have done through the chapter and in Exercise 1.  These files are submitted to a D2L Assignment drop box.  The link to the Assignment drop box will be provided in the D2L chapter module.  You can earn 120 points for each chapter except for chapter 7 work which is worth 60 points.  I will need to drop any student who has not submitted the Chapter 1 assignment by the end of the second week of the semester. 

Breakdown

 

College Standard

 

 

 

College Grading Standards

Recommended Guidelines for Student Grades

4.0  --- Excellent

4.0     ---     91 – 100%

3.5  --- ---------

3.5     ---     86 – 90%

3.0  --- Good

3.0     ---     81 – 85%

2.5  --- ---------

2.5     ---     76 – 80%

2.0  --- Satisfactory

2.0     ---     71 – 75%

1.5  --- ---------

1.5     ---     66 – 70%

1.0  --- Poor

1.0     ---     60 – 65%

0.0  --- --------

0.0     ---       0 – 59%

Course Policies

QBO One-Year Subscription

After the second day of class I will submit a current class list to Intuit.  Intuit will register all students on that list for a one-year subscription for QBO Online access.  Once Intuit grants access, the clock starts ticking.  For almost all students this is not an issue.  But if a student were to drop or be dropped from the class after I submit the class list, the clock does not stop ticking.  That would mean that if a dropped student wanted to complete ACCG 161 in the future, they would have QBO access for only the next two consecutive semesters.   

Grading Rubrics

A grading rubric is provided to show how all the 120 points for each chapter is earned.  The rubric is found in the corresponding D2L Chapter Module.  Points are earned in three ways. 

  1. Completing chapter work
  2. Completing Exercise 1 work
  3. Submitting reports listed (which are all or most of the reports listed in Exercise 2) 

There are also two categories of deductions: 

  1. Not correcting errors from prior chapters
  2. Submitting reports that do not contain the work required in Exercise 

For the required chapter work I have identified the page number of the textbook where the requirement is explained.  I use the e-book version of the textbook.  The e-book is continually updated.  I have found that the page references I have in the rubrics might not be accurate after a change is made in the textbook.  I review each rubric before the semester begins, but be advised, the page reference might not be accurate if a change is made during the semester.  If you find a discrepancy, please send me an email and I will post a revised rubric.

Assignment Due Dates

The due date for each course assessment is shown in the course calendar and in the grade item description.  There should be no confusion as to when a given assignment is due.  Any assignment not submitted by the due date will receive 0 points.  As each chapter builds on work done in previous chapters, a student still needs to submit the work assigned even though they have received a grade of 0.  I reserve the right to change a zero grade to the grade a student would have received if the assignment had been submitted on time, less a deduction for a late submission.  I also reserve the right to let the original zero grade stand.

No Provision to Improve on an Initial Grade

There are ten graded assignments during the semester.  For each of the two quizzes only one attempt is allowed.  For each of the eight chapter submissions only one submission will be graded.  I will grade each chapter report submitted and assign a chapter grade per the chapter grading rubric.  That chapter grade cannot subsequently be changed by updated submissions.  I will provide detailed feedback for the D2L chapter assignment.  To successfully move forward to the next chapter, a student should make needed corrections to prior work as detailed in the feedback.  Though, those corrections will avoid deductions in subsequent chapters, I will not revise a chapter grade already assigned.  

Working Ahead

I encourage any student to work ahead.  I have had one student complete the course in 9 days.  I have had many students complete the course in 3 weeks.  I will post a class announcement at the beginning of each week to give an overview of the coming week's work.  If you work ahead you will not have that orientation.  But the grading rubrics and textbook should  be enough direction to keep moving forward.  For any student, you should read the feedback given for your most recently submitted assignment and make any corrections needed before moving on to the next assignment.  As I grade most assignments within 24 hours, waiting on feedback should not significantly slow down those of you who want to work ahead.

Being Dropped From the Course

The introduction quiz is due day 3 of the semester.  Chapter 1 assignment reports are due day 7 day of the semester.  Any student who has not completed these two grade items by the end of the second week, day 14, will be dropped through the Enrollment Verification process. If a student is dropped, there is no recourse to be added back to the class.  This is the only scenario when I would drop a student.  After the second week of the semester, every student still on the class list will receive a grade.  If a student voluntarily drops the class after the second week a grade of "W" (Withdraw) will automatically be assigned.  I am not allowed to drop a student after the second week of the semester.  If a student does not voluntarily drop the class within the withdrawal period, the student will receive a grade based on the evaluation criteria shown in the syllabus.  If a student does not have at least 600 points, that grade will be a 0.0.

Extra Credit

Extra credit is not available in this course. 

Institutional Policies

Academic Success Coaches (ASC)

Student success is our first goal.  Our Academic Success Coaches mentor students to help them meet their educational, personal and career goals.  Faculty or staff may refer you to an ASC for help if you are not doing well in a class. Please watch your LCC email for a referral.

We also suggest you contact an ASC on your own if you need help or advice to reach your goals.  

To contact an ASC, call (517) 483-1422, email [email protected], or visit the Academic Success Coaching Team website for more information.

Disability Statement

Students with disabilities who may need accommodations in this class should contact the Center for Student Access (CSA). They are located in the Gannon Building, Star Zone - Center for Student Support.  You can also access the Center for Student Access website, or call (517) 483-5323.  Contacting the Center early helps ensure that accommodations are put in place as soon as possible.

Enrollment Verification

Instructors will verify participation in a course by the 8th day after the start date of sections less than 8 weeks long, and by the 15th day after the start date of sections 8 weeks or longer. Students who have not participated will be dropped from the course and may be responsible for any non-refundable fees.

Nondiscrimination Statement

Lansing Community College is committed to providing equal employment opportunities and equal education for all persons regardless of race, color, sex, age, religion, national origin, creed, ancestry, height, weight, sexual orientation, gender identity, gender expression, disability, familial status, marital status, military status, veteran’s status, or other status as protected by law, or genetic information that is unrelated to the person’s ability to perform the duties of a particular job or position or that is unrelated to the person’s ability to participate in educational programs, courses services or activities offered by the college.

The following individuals have been designated to handle inquiries regarding the nondiscrimination policies: Equal Opportunity Officer, Washington Court Place, 309 N. Washington Square Lansing, MI 48933, 517-483-1730; Employee Coordinator 504/ADA, Administration Building, 610 N. Capitol Ave. Lansing, MI 48933, 517-483-1875; Student Coordinator 504/ADA, Gannon Building, 411 N. Grand Ave. Lansing, MI 48933, 517-483-1885; Human Resource Manager/Employee Title IX Coordinator, Administration Building, 610 N. Capitol Ave. Lansing, MI 48933, 517-483-1879; Student Title IX Coordinator, Gannon Building, 411 N. Grand Ave. Lansing, MI 48933, 517-483-9632.

Student Code of Conduct and General Rules and Guidelines

The College recognizes the value and importance of a safe and orderly learning environment that supports honesty, integrity, and ethical conduct. The Student Code of Conduct and General Rules and Guidelines ensure the protection of student rights and the health and safety of the College community.  The College has established procedures for reporting and addressing alleged violations.                 

Students must follow the Student Code of Conduct and the General Rules and Guidelines. Also, the instructor may establish reasonable guidelines within the classroom. Violations of the Student Code of Conduct and General Rules and Guidelines may be reported to the Office of Student Compliance.

Transfer

For transfer information, please consult the LCC Transfer webpage.  In addition, the Michigan Transfer Network website allows students to search how courses transfer to colleges and universities statewide.

The Michigan Transfer Agreement (MTA) simplifies the transfer of students from one Michigan institution to another. For the most current information, see the LCC General Education webpage.

Students interested in transfer should contact the Academic Advising Center in the Gannon Building - Star Zone, (517) 483-1904.

COVID-19 Safety Precautions

All students, employees and visitors have a part to play in keeping LCC safe.  Anyone who enters campus must follow the safety measures outlined on the Keeping LCC Safe webpage. Reports of noncompliance with current work safety rules and public health orders will be sent to the Student Compliance Office for action.  Students with questions or concerns should email [email protected].

Media Release Statement

Photographs, pictures, slides, movies, video, or other media coverage of students may be taken for College-related business, in connection with their enrollment or participation in LCC activities without compensation from LCC, its Trustees, officers, directors, employees, students and agents of each of them.  Photographs, pictures, slides, movies, video, or other media coverage of students may be used for any legal purposes.

College Catalog

For rules and procedures on matters such as Academic Calendar, Withdrawals, Incompletes, Appeals, etc., please review the College Catalog, and contact your Academic Advisor or Academic Success Coach.

Additional Items

Detailed Outline of Course Content and Sequencing

Course content in sequence by week:

  1. Introduction and setting up QuickBooks.
  2. Working with lists.
  3. Working with bank accounts.
  4. Working with other accounts.
  5. Entering sales information.
  6. Receiving payments and making deposits.
  7. Entering and paying bills.
  8. Analyzing financial data.
  9. Setting up inventory.
  10. Tracking and paying sales tax.
  11. Doing payroll with QuickBooks.
  12. Estimating and progress invoicing.
  13. Tracking time.
  14. Customizing forms and writing QuickBooks letters.
  15. Accounting Project: Setting up a company in QuickBooks.
  16. Accounting Project: Enter transaction in company books, complete the accounting cycle, and analyze the company performance.