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Mastering QuickBooks Enterprise Solutions Level 1 Getting Started Setting up your data files Moving around QuickBooks...EFFICIENTLY Everyday Transactions Selling: invoices, sales receipts, payments, deposits, credit memos, statement charges, linking to 3rd party software, and customer statements Buying: bills, bill payments, checks, bills vs. checks, and credit memos Inventory: purchase orders, receiving items, adjusting inventory Sales Taxes: setting up, adjusting, paying, and reporting sales taxes Banking: reconciling bank accounts and locating discrepancies Special Transactions Giving and receiving refunds Voiding vs. deleting a check Applying credit memos Tips & Tricks Special "Window" tricks Cleaning up lists (delete, hide and merge) Sorting and customizing lists "Collapsing" financial statements • Preparing P&L by month, or as a percent of income Financial Statements Really understand the QuickBooks financial statements Setting up the chart of accounts Changing/fixing the chart of accounts Applying Cash vs. Accrual accounting in QuickBooks Using general journal entries Creating and using subaccounts Combining financial statements Payroll Setting up payroll Entering year-to-date payroll information Setting up employees Creating payroll items Tracking and invoicing time Processing paychecks Modifying paychecks Making tax deposits Preparing tax forms Summarizing payroll data in Excel Working with Reports Adding, deleting, resizing, and reordering columns Filtering and formatting reports Saving reports and creating memorized report groups Advanced Features Password protecting QuickBooks Updating QuickBooks Working with Microsoft Excel Closing the books Finding transactions FAST and other time saving features Working with the accountant's review Protecting your QuickBooks data Tips & Tricks Keyboard shortcuts Tailoring company preferences Creating custom invoices and other forms Adding logos and custom fields to forms Tricky Transactions Using online banking Handling bounced checks...easily Entering customer down payments/deposits Setting up automatic transactions (memorizing transactions) Using credit cards Enterprise Solutions Special Features Enterprise Solutions Special Features Master Enterprise Solutions features like working with the audit trail Multi-User QuickBooks in Enterprise Solutions Assigning the administrator Creating roles Setting user access levels Adding new users Working in different user “modes” Mastering QuickBooks Enterprise Solutions Level 2 Customizing QuickBooks (make QuickBooks REALLY work for you!) Modifying important preferences Customizing your home page Modifying the iconbar Creating and using custom fields Using account numbers Using classes (for departments, locations, etc.) Sales Transactions, Tricks, and Workarounds Setting up price levels Sales orders/backorders Batch invoicing Invoicing for billable costs Complex sales tax situations Creating and using estimates Progress invoicing Finding and fixing typical errors in accounts receivable 2 methods for handling customer deposits Managing collections Writing off bad debts Customer under- and over-payments Transferring customer credits Working with multiple accounts receivable accounts Entering retail sales Purchase Transactions, Tricks, and Workarounds Purchasing and accounting for fixed assets Entering company loans with the Loan Manager Lines of credit Typical bill payment errors Preparing 1099’s at year-end Employee and owner purchases Prepaid expenses Vendor deposits Vendor refunds Barter transactions Voiding prior period checks Using the cash flow projection tool Items & Inventory Expenses vs. Items…which do you use? Inventory limitations Inventory adjustments Creating group items Working with inventory assemblies Units of measure Advanced Tricks When should you start over with a new file? The limitations of QuickBooks Handling bank reconciliation errors Use multiple currencies Fixing errors in all areas of QuickBooks... there are so many we can't list them all! Completing Set Up Completing setup: opening balances, completing lists, special accounts, opening balance equity, and payroll setup 2 methods for entering transaction history Checking the setup…is it right? Payroll Transactions, Tricks, and Workarounds Correcting the setup of payroll items Adding difficult payroll items Using payroll effectively for job costing Voiding/Reprinting paychecks Handling special payroll deductions and payments Preparing and adjusting W-2s Tracking employee loans Setting up and tracking workers compensation insurance Net to Gross paycheck calculations Mastering QuickBooks Reporting Advanced report customization Report types in QuickBooks…what you really need to know! Importing and exporting reports Using special fields to improve reports Troubleshooting reports filters Memorizing reports and creating report groups Adding reports to the iconbar Powerful techniques for modifying reports in Excel Generating custom summary and transaction reports Graphing QuickBooks data in Excel Budgets and forecasts Combining financial statements Extending the QuickBooks database Using advanced fields for reports (customer type, vendor type, job type, custom fields, and more) Unlocking the Power of QuickBooks Deleting and archiving old transactions in your file Remote access (to access your company file through the internet) Automating backups Tricks to make QuickBooks run faster and more efficiently Corrupt data files…how, why, and what to do. Verify and rebuild company files Importing and Exporting Importing and Exporting Exchanging data between QuickBooks files Importing and exporting lists Importing and exporting customized forms Using reports with multiple company files Exchanging data between QuickBooks and other programs Working with integrated applications Using special Excel import feature Secrets Your Accountant Should Know Common mistakes and their fixes Closing the books Getting information to and from your accountant Finding changes made to closed periods Understanding and using retained earnings Discovering quirks of QuickBooks journal entries Using reversing journal entries Understanding year-end procedures Using the Audit Trail and other reports to find errors Cash basis financial statements (what is QuickBooks doing?) Special reports for your accountant What you REALLY need to know to become an advanced user! Little known power features in all areas of QuickBooks Mastering Accounting Basics 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 Accounting Principles 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 Accounting Basics in QuickBooks 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) 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) 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 Working with Your Accountant Working with Your Accountant Speaking the same language as your accountant! Creating a client/accountant agreement Methods for getting information to your accountant Accountants Copy Process Special reports for your accountant (journal report, general ledger, transaction entry journal, and trial balance) 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 Mastering QuickBooks Payroll Payroll...before you begin The top ten payroll mistakes YOU MUST avoid Know your payroll risks and responsibilities. Standard forms for new employees Contractors vs. employees (when to use each) Set Up Information you MUST have to get started Using the Payroll Setup wizard Setting up employees Adding compensation types (hourly, salary, bonus, etc) Setting up employee benefits (insurance, reimbursements, etc) Adding retirement benefits like 401 (K) plans Adding PTO (sick & vacation time) Setting up federal taxes (Income tax, FICA, etc) Setting up the right taxes for your state Reviewing your payroll set up Entering payroll history Customizing payroll Creating payroll schedules Understanding and adding payroll items Creating unique and special payroll items Running Payroll Entering employee time Running employee productivity reports Preparing employee paychecks Printing & modifying paychecks Printing employee paystubs Running payroll reports Exporting payroll data to Microsoft Excel Taxes & Tax Forms Making tax deposits Paying other payroll liabilities Using E-file to pay taxes electronically Correcting & adjusting payroll liabilities Preparing & filing your quarterly & annual tax returns (federal and state) Special Transactions Entering "net to gross" paychecks Running unscheduled & termination paychecks Handling unexpected changes during the year Voiding paychecks Tracking & paying employee commissions Custom liability payments Depositing tax refunds Advanced Transactions Handling expenses like insurance where company & employee each pay a share Mapping payroll items to get meaningful financial statements Job costing payroll Tracking employee loans Handling wage garnishments Paycheck issues Tracking payroll by "class"
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Ultimate Enterprise Solutions Bundle QuickBooks Version: Desktop Online course
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