Mastering Accounting Basics for QuickBooks - OnDemand

Mastering Accounting Basics for QuickBooks - OnDemand

$ 449.99

Understanding accounting fundamentals is half the challenge of learning and using QuickBooks correctly! This class teaches you the basic accounting principles you must know to get the most from QuickBooks.

  • Comprehensive training

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$449.99

Details

Basic accounting knowledge makes QuickBooks easier.

You’ll be more efficient and confident AND you’ll uncover useful information hidden in your reports.

Learn the accounting “secrets” behind the scenes.

First you learn an accounting principle or concept then you see how it works in QuickBooks. Accounting 101 for the REAL WORLD!

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What You'll Learn

  1. Accounting Basics
    • Definition of Accounting from a small business perspective
    • Explanation of why you need accounting
    • Financial statements…what are they?
    • What is an account?
    • Double entry accounting and how it applies to QuickBooks
    • Debits and credits…the essence of accounting
  2. Accounting Principles
    • Intro to accounting principles…the foundation of accounting
    • Reporting principle
    • Reliability principle
    • Comparability principle
    • Cost principle
    • Revenue principle
    • Matching principle
    • Applying the principles
  3. Accounting Basics in QuickBooks
    • The balance sheet and profit & loss statement
    • Working with account types
    • Setting up the chart of accounts
    • Management reporting vs. financial reporting
    • Working with subaccounts
    • Techniques to review account detail
    • Understanding debits/credits in common QuickBooks transactions (checks, invoices, payments, deposits, bills, bill payments, and journal entries)
  4. Reviewing Numbers for Accuracy
    • Basic review techniques
    • Using QuickZoom as an investigative tool
    • Reconciling accounts to external documentation
    • Verifying numbers on key reports
    • Checking balances for accounts receivable, accounts payable, and inventory
  5. Analyzing and Interpreting Data
    • Basic financial interpretations
    • Analyzing business trends
    • Interpreting variable expenses
    • Understanding and using key financial ratios (current ratio, return on equity, gross profit margin, and net profit margin)
  1. The Accounting Cycle (who does what and when?)
    • What is the accounting cycle and why is it important?
    • Daily accounting tasks
    • Weekly accounting tasks
    • Pay period accounting tasks
    • Monthly accounting tasks
    • Quarterly accounting tasks
    • Annual accounting tasks
    • Key tasks within each cycle demonstrated in QuickBooks
    • Closing the books
    • Restricting access to closed periods
  2. Working with Your Accountant
    • Speaking the same language as your accountant!
    • Creating a client/accountant agreement
    • Methods for getting information to your accountant
    • Accountant's Copy Process
    • Special reports for your accountant (journal report, general ledger, transaction entry journal, and trial balance)
  3. More Accounting
    • Using account numbers
    • Setting up classes to segment financial statements
    • Budgeting and planning in QuickBooks
    • Cash vs. accrual accounting
    • Understanding and using retained earnings
    • Year-end closing entries
    • Finding prior year changes
  4. Also Includes These Valuable Resources:
    • A glossary of accounting terms so you can finally understand your accountant!
    • A QuickBooks keyboard shortcuts list - to save time
    • A summary of account types and which financial statements they flow to
    • A Debits and Credits "Cheat Sheet" - no need to memorize how they work!
    • A list of financial ratios and how they are calculated
    • A sample tax calendar so you know when various tax forms and payments are due
    • A list of record-keeping requirements (as suggested by IRS)
    • A periodic activities checklist (so important accounting tasks are not overlooked)
    • A year-end closing checklist
    • A step-by-step summary of the techniques used to exchange data with your accountant
    • Help creating a client/accountant agreement, and assigning responsibilities
    • A backup log you can use to schedule and monitor timely backups
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This product is perfectly suited for:

  • QuickBooks users who want to discover what goes on ""behind the scenes"" of QuickBooks
  • People who want to build a solid foundation in accounting
  • Users who want to see master the debits and credits in QuickBooks
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How does the OnDemand class work?

After you place your order, you receive log-in credentials for the course via email. Follow the link in the email, type your user name and password, and start learning!

What do I need to take the live online class?

You need high-speed Internet and computer speakers or headphones.

Do I need QuickBooks on my computer?

No.

I didn't receive my log-in information . What should I do?

Please call our office at 800-564-2688.

Do I need special software to attend online class?

No. The course plays in your internet browser.

Do you offer a money back guarantee on your OnDemand training?

Absolutely! If you are not completely satisfied with the training, send us an email or call us within 30 days and you will receive a full refund (minus a processing fee of $15). We stand behind our classes. No hassle. No question.

Does your training cover the most current version of QuickBooks?

Yes! We always teach the most current version. Don’t worry if you have an older version. Older versions work basically the same way and you’ll learn new and improved features!

Are the training courses hands-on?

Yes. If you have QuickBooks installed on your computer, you can pause the class and switch to QuickBooks to practice hands-on.

How many people can view the training with me?

When you purchase the course, you purchase the right for one person to view the course. To add other students, please call us at 800-564-2688.

 
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