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Mastering QuickBooks for Accountants Level 1

  1. Getting Started
    • Setting up your client’s data files
    • Moving around QuickBooks...EFFICIENTLY
  2. Everyday Client 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
  3. Special Transactions
    • Giving and receiving refunds
    • Voiding vs. deleting a check
    • Applying credit memos
  4. 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
  5. Financial Statements
    • Really understanding 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
    • Entering reversing journal entries
    • Creating and using subaccounts
    • Using the Company Snapshot
  6. Special Features for Accountants & Bookkeepers
    • Supporting and understanding the different versions of QuickBooks
    • Introduction to the Accountants version of QuickBooks
    • Using the toggle feature to simulate your client’s QuickBooks
    • QuickBooks journal entries…understand the unique quirks
    • Modifying your client’s chart of accounts
    • Creating customized financial statements using the Intuit Statement Writer
    • Combining your client’s financial statements
    • Using the working trial balance feature
  7. Payroll
    • Setting up your client’s 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
  8. Working with Reports
    • Adding, deleting, resizing, and reordering columns
    • Filtering and formatting reports
    • Saving reports and creating memorized report groups
  9. Advanced Features
    • Using petty cash
    • Setting up your client’s multi-user QuickBooks
    • Password protecting QuickBooks
    • Updating your clients QuickBooks
    • Working with Microsoft Word and Microsoft Excel
    • Closing the client’s books
    • Finding transactions FAST and other time saving features
    • Working with the Accountant's Copy feature
    • Protecting your client’s QuickBooks data
  10. Tips & Tricks
    • Keyboard shortcuts
    • Tailoring company preferences
    • Creating custom invoices and other forms
    • Adding logos and custom fields to forms
  11. Tricky Transactions
    • Using online banking
    • Handling bounced checks...easily
    • Entering customer down payments/deposits
    • Setting up automatic transactions (memorizing transactions)
    • Using credit cards
  12. Special Features for Accountants & Bookkeepers
    • Finding (and stopping) changes to client financial statements
    • Using the Employee Organizer: Adding employees, tracking raises & promotions, entering leaves of absence, and terminating employees
    • Running reports from the employee organizer
    • Using the Employee regulations guide
    • Multi-user QuickBooks in Enterprise Solutions: Assigning the administrator, creating roles, setting access levels, and adding new users
    • Working with the audit trail in Enterprise Solutions

Mastering QuickBooks for Accountants Level 2

  1. Customizing QuickBooks (make QuickBooks REALLY work for your client!)
    • Modifying important preferences
    • Customizing your client’s home page
    • Modifying the iconbar
    • Creating and using custom fields
    • Using account numbers
    • Using classes (for departments, locations, etc.)
  2. 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
  3. 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
  4. Items & Inventory
    • Expenses vs. Items…which does your client use?
    • Inventory limitations
    • Inventory adjustments
    • Creating group items
    • Working with inventory assemblies
    • Units of measure
  5. 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!
  6. 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?
  7. Payroll Transactions, Tricks, and Workarounds
    • Correcting the setup of payroll items
    • Adding difficult payroll items
    • Using payroll effectively for job costing
    • Voiding/Reprinting paychecks
    • Special payroll deductions and payments
    • Preparing and adjusting W-2s
    • Employee loans
    • Setting up and tracking workers compensation insurance
    • Net to Gross paycheck calculations
  8. 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
    • 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)
  9. Unlocking the Power of QuickBooks
    • Deleting and archiving old transactions in your client’s 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
    • Verifying and rebuilding company files
  10. 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
  11. Working with Clients
    • Common client mistakes and their fixes
    • Closing the books
    • Getting information to and from your client
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    • 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 you’ll need as the accountant
    • What you REALLY need to know to become an advanced user!
    • Little known power features in all areas of QuickBooks
  12. More Features for Accountants
    • Correcting common mistakes with undeposited funds
    • Changing account types to correct client financial statements
    • Using the Client Data Review feature to review a client’s file
    • Converting your clients from Quicken
    • Using the Fixed Asset Manager: Setting up for a new client, adding assets, and calculating depreciation

Mastering Accounting Basics

  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)
  6. 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
  7. 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)
  8. 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
  9. 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

Mastering QuickBooks Payroll

  1. 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)
  2. 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
  3. 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
  4. 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)
  5. 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
  6. 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"
Register Now
Ultimate Accountants Bundle Online course
  • Course ID:
    253473
  • Duration:
    1 day
  • Price:
    $800