 In this presentation, we will continue on entering our beginning balances related to jobs and their related accounts. Get ready because here we go with zero. Here we are in our job costing company dashboard. We're going to be opening up our Excel file to get an idea of what our objective will be. You'll recall last time we entered the beginning balances related to job number 14 for the direct materials, labor and the factory overhead. We're going to continue on with this now for job number 15 this time. And 16 we don't have anything to start off with. So just one more. We're going to go with job number 15, direct materials, direct labor and the factory overhead. So that's what we're going to enter in. We're going to go back on over to zero to do so. And we're going to hit the little plus button as we did last time. And we're going to go on down to the spend money, spend money. We'll be spending money from the checking accounts. So we'll select the checking account and say next. And this is going to be the standard kind of spend money form. Now we don't have a vendor right now because these are basically the beginning balances. So we're just going to be choosing the miscellaneous miscellaneous for the vendor here. This will once again be in there as of last year. So I'm going to be putting this in there before our cutoff date, which is going to be 1231. So that's going to be I'm going to pick December. I think I made it 30th last time, but I'll make it 31st, which is kind of like what I meant to do. But as long as it's before the cutoff time period, we should be okay. And then we're going to go down and we're going to do the same kind of thing, adding our items as we go. So I'm going to go over over here. We're going to be looking at the direct labor now. I mean the direct materials first. We'll be looking at the direct materials first, but we will be selecting a few items that fall into that category of direct materials as we did last time. So we're going to start off with the cement render. So we have the cement render. That's going to be for 3000 3000 on the cement render. Then we're going to have the dropped ceiling, the dropped ceiling, and that's going to be 2000. Next we're going to have the marble, which I overshot on the marble, go back marble. And the marble is going to be for 5000. So we'll go 5000 on the marble. Next we're going to have the paint. So I'm going to call it paint and wood finishing or wood stain. And we're going to pick that up and that will be for 3000. We need to get up to, I believe, 18,000. So the next item we're going to have will be, let's pick up the staff. And once again, this isn't wages here. This is going to be a staff like artificial stone it says for staff. So it's still materials in other words. So we'll pick up the staff then and that's going to be for the 2000. And then we're going to pick up the, let's keep on going. We're going to add a new line. We need another line down here. So we have to hit this button if you run out of lines. And then this one's going to be surface finishing, surface finishing. And that's going to be for our 3000. And that'll get us up to the 18,000. So there's the 18,000 that lines up to then the direct materials. Now we're going to add the direct labor, the direct labor. So we're going to add another line here and we're going to say direct labor. And that's going to be for back over to Excel. Let's check it out. It's going to be for 16,000 16,000 in the labor. So we'll say 16,000. And then we're going to add a new line item. And we're going to have the overhead overhead. I'm going to put this all into one grouping for our numbers as we go for the beginning balances here. We'll get to more detail about them later. And that's going to be the 8,000. So that's the 8,000. So let's bring it back on over or minimize this so I can get back over there. It won't, it won't do it. There we go. So that's going to be the 8,000. And that gives us a total of the 42,000. So let's check that out. Is that correct? The 42,000 for the entire job looks good. That looks good. All right, let's go back on over. And now we're going to assign it to job number 15. So we're going to assign the expenses. I'm just going to select all of them. So we'll pick them all up. If you select the drop down or just simply type in job number 15, it should populate. There's job number 15 and the customer. So job number 15, the customer, make sure to hit the assigned button so that it'll actually assign them out. So there's going to be job number 15. That looks good. I'm going to say okay. And we then have job number 15 showing up below on this side so we can see that it has indeed been assigned out. So everything looks good. I'll go through it slowly so you can kind of see them in case you're going to populate or have any questions about them. We're at the total for the 42,000. What's this going to do when we calculate it or when we save it? It'll be reducing the checking account by the 42,000 because it is a spend money form. It's going to be going down by the 42,000 or going into a negative. We will add more information to the bank account later. And then the other side is going to be going to the expense driven by the items that we set up into the cost of goods sold type of areas. And it will also be assigned to the jobs or projects. Let's go ahead and say save. And then we'll take a look at that. So we're going to say save. Now let's go into our projects. So we're going to go into our projects. We'll take a look at all the projects at this point in time. And of course, we will have those two projects now shops 14 and 15 that have been completed nothing yet in job 16 or project 16 because it will be happening. And it'll be starting in the current period, which will be 2020. If we go then into job number 15, we're going to see the detail that we have thus far. So we have this information thus far. Now I'm going to go into a little bit more detail next time about this information. And we will look at this and the reports related to the jobs in a bit more detail at a later point in time right now. I just want to review the major financial statements. So we're going to go into the accounting drop down. Open up the balance sheet report, the balance sheet report, our favorite report here. Now if we see the balance sheet for December 31, 2019, we enter this information for 2019. The only two line items we have are the 83,000 in the cash, which is it's currently a liability because it's overdrawn. The other side going to the equity section in current year earnings at this time. Now if we were to bring this up to 2020, all that's going to happen is it's going to be rolling that equity account out into the basically retained earnings. I'm going to update this. Then if we scroll down, there's the 83,000. Now the equity is in basically the retained earnings or it is in the retained earnings account. That will then be our beginning balances. Well, at least thus far, we'll add other beginning balances for the other accounts shortly. All right, now let's look at the income statement. If I go back up top, I'm going to duplicate this tab. I'm going to hover over it, right click on it, duplicate it. That'll put the balance sheet to the right and we can then open up the income statement on the left to do that. Let's go on back to the left. Then we're going to go to the accounting drop down or to the business drop down. I should say no, the accounting drop down and we want to go to the income statement. The income statement down below. So these are the favorite reports are the ones that we put a little star next to by default. The income statement and balance sheet will be there, which of course they should because those are the ones that like we'll go to all the time. So now we're going to go to the income statement. There's no one as the profit and loss. You might hear another software or the P and L reports. Nothing is there for 2020 because we enter this information in the prior year and it's going to roll over then to the equity section for 2020. If we go back to 2019, then let's go back on over to 2019. I'll just choose the last couple of days for 2019 and update that report. Then now we have our information. It's all gathered into the cost of goods sold. And again, if you wanted to group this in some different fashion in some different ways, you can do so. You just don't do it with the sub accounts like you might be used to doing with the QuickBooks online. You use the edit layout here. So if you go into the edit layout, you have a lot of options for editing and then you would just want to save those reports. You actually have more flexibility in some ways with this option. So for example, the major categories that you have here, you could group together the major categories and summarize the major categories. You can add categories. For example, if you wanted the direct materials and the labor to be categorized out as we saw last time, I can highlight these. I can group them, add a group for them. And that's how we would add kind of sub accounts. And that can actually be a little bit cleaner in terms of the sub accounts and whatnot. But you do have to then have possibly separate reports. You got to then look at different reports and you can customize your reports to see which ones that you want to be dealing with. So that's going to be one way that you can customize your data. But you can see that it will of course be under the subcategory here of the cost of goods sold. We entered all of the accounts as cost of goods sold type of accounts. In other words, they're all in here as the cost of goods sold type of accounts. But we could give further breakouts into say subcategories of the direct materials, direct labor and the overhead by using that grouping method by making groups over here. And then we can then we can make summarize reports in that format and add more detail in that way. Now we're going to be, if we go back up top and we're going to duplicate this tab. So I'm going to go to the top, going to hover over the tab. We're going to right click on it and then duplicate that tab and then go back to the tab to the left. Now we want to go back into the projects just to consider the projects on the last component. So that's going to be the income statement, the balance sheet. And then of course you could sort this detail as well with the projects by going into the projects and sorting it here. Now the last reports that we have, the last reports that we want to look at will be the project reports. And you could find those by going to the accounting dropdown reports here. And then we'll scroll on down to the project reports and we briefly took a look at them last time. These are going to be the main two. Probably the project detail is going to be the one that will be used most. And we'll get a little bit more into the mechanics of the project detail report and how it's how it's put together as well as some of the items in the projects next time. So I'm not going to spend a lot of time on it here. We'll move on to looking at the mechanics of these things next time. So that's going to be it for now. Let's get out of here.