Course preview (5:15)
Mastering Accounting Basics for QuickBooks Online
$459.99
Understanding accounting fundamentals is half the challenge of learning and using QuickBooks Online correctly! This class teaches you the basic accounting principles you must know to get the most from QuickBooks Online. Ideal if you want to learn QuickBooks Online “A to Z” and want to understand accounting basics.
Free updates – for life!
QuickBooks Online changes often. But you don’t have to worry about outdated training. Unlike other software training that eventually becomes outdated when the software changes, your purchase includes all the updates we make in the future. Rest assured knowing you have the latest and greatest content…at no additional cost.
Full High Definition video
The course is filmed in crystal clear HD so you don’t miss any details. Expand the viewing area to full screen or watch it in a smaller format…either way, you can easily follow the instructions and see every detail
Access to the course anywhere anytime
You can view the course as many times as you want from any device connected to the internet.
All the accounting concepts you need to understand – and how to apply them in practical easy to understand steps
First you learn an accounting principle or concept and WHY it’s important to your business. Then you see how to apply it in QuickBooks Online. Accounting 101 for the REAL WORLD!
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
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
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
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)
Accounting Basics in QuickBooks Online
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)
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
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
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)
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!
Do you offer a money back guarantee on your OnDemand training?
Absolutely! If you are not completely satisfied with the training, send an email to office@realworldtraining.com, and you will receive a full refund (minus a processing fee of $45). We stand behind our classes. No hassle. No question.
Are the training courses hands-on?
If you have a QuickBooks Online subscription, you can pause the class and switch to QuickBooks to practice hands-on.
Do I need QuickBooks on my computer?
No. You can view the training on any device with an internet connection. Anytime, anywhere.
