Old Testament
LLC Partners
Chart of Accounts
Transactions
FY End
100
December 10, 1986
What is the date Association Reserves first opened its doors for business?
100
80/20
What is the LLC Partnership distribution split?
100
14
What is the total number of Expense accounts?
100
7
What is the maximum number of normal line items in a Client Database invoice?
100
$1000
What is the Fixed Asset capitalization limit?
200
Double-Entry Bookkeeping
What is the foundation of all accounting systems?
200
$30,000
What is Robert's voluntary Partner distribution "cap"?
200
Meals & Entertainment and Gifts over $25/person
Which accounts are subject to a 50% IRS deduction limit?
200
CDB Sales Report
What is the basis for every invoice posted in QuickBooks?
200
Monthly reconciliations
What is necessary to keep the CDB in synch with QBooks?
300
RBase
What is the name of the programming language Robert first used to develop the Client Database?
300
$500
What is the amount of the Annual Licensing Fee?
300
Lowest Account Level
Where should expenses always be applied to?
300
Prior Period Sales Adjustments
What needs to be carefully documented?
300
the 15th of each month
When is the deadline for posting Monthly Financial Reports?
400
1994
What is the year that QuickBooks was first introduced as an affordable accounting package?
400
within 30 days
What is the company policy on how soon to pay bills?
400
Nn-incorporated entities who have reecived payments exceeding $600
Who is eligible for 1099s?
400
Credit Memos
What is used to process Job Cancellations when a payment has already been applied to an invoice?
400
Feb 7th
What is the date that QuickBook files are due to the Accountant each year?
500
One Single Customer
What is the Client Database?
500
Questionable business deductions
What prevents Robert & Cathy from sleeping peacefully at night?
500
< 10% of Level 1 & 2 sales
What is a reasonable budget for Job Expenses?
500
Fee Reduction Field
Which CDB field s used to provide financial concessions to unhappy Clients?
500
40 hours
How long did it take Cathy to write (and re-write) the Accounting Bible?
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