QuickBooks – Level 1

Learning Method: Instructor-led Classroom Learning Duration: two half days


Overview:

Learn basic accounting as it relates to QuickBooks, and how to do the following in QuickBooks: set up a company, work with lists, set up inventory, invoicing, processing payments, work with bank accounts, enter and pay bills, and use online banking.

Course Outline: 

Lesson 1: Introduction

  • Accounting Definition
  • Why it is so important?
  • Who needs it
  • Brief History

Lesson 2: Accounting Structure

  • Business Organization
  • Proprietorship
  • Partnerships
  • Limited Partnerships
  • Corporations
  • Cash vs. Accrual Accounting
  • Tax and Accounting Periods

Lesson 3: Rules of Classification

  • The Accounting Equation
  • The Chart of Accounts
  • Profit and Loss – Income and Expense Accounts
  • Balance Sheet – Assets, Liabilities, Equity Accounts

Lesson 4: Double Entry Accounting

  • Understanding Debits and Credits
  • Creating T Accounts
  • The Accounting Cycle

Lesson 5: Evaluating your Business Finances

  • Understanding Cash Flow
  • Creating a Cash Flow Statement
  • Making Projections
  • Financial Status Checklist

Lesson 6: Getting Started

  • Starting QuickBooks
  • Introduction to QuickBooks
  • Using the Navigators List
  • Opening QuickBooks Pages
  • Using the Menu Bar
  • Using the Icon Bar
  • Setting up QuickBooks on a Network
  • Learning Common Business Terms

Lesson 7: Setting Up a Company

  • Creating a QuickBooks Company
  • Using the Chart of Accounts
  • Entering Account Opening Balances

Lesson 8: Working with Lists

  • Creating Company Lists
  • Working with the Customer: Job List
  • Working with the Employee List
  • Working with the Vendor List
  • Adding Customized Fields
  • Managing Lists

Lesson 9: Setting Up Inventory

  • Entering Products into Inventory
  • Ordering Products
  • Receiving and Paying Inventory
  • Manually Adjusting Inventory

Lesson 10: Selling Your Product

  • Creating Invoices
  • Making Cash Sale

Lesson 11: Invoicing for Services

  • Setting Up a Service Item
  • Changing the Invoice Format
  • Creating a Service Invoice
  • Entering Statement Charges
  • Creating Billing Statements

Lesson 12: Processing Payments

  • Receiving Payments for Invoices
  • Making Deposits
  • Printing Statements

Lesson 13: Working with Bank Accounts

  • Writing a QuickBooks Check
  • Using Bank Account Registers
  • Entering a Handwritten Check
  • Transferring Funds Between Accounts
  • Reconciling Checking Accounts

Lesson 14: Entering and Paying Bills

  • Handling Expenses
  • Using QuickBooks for Accounts Payable
  • Entering and Paying Bills

Lesson 15: Using the EasyStep Interview

  • Using the EasyStep Interview

Lesson 16: Using Online Banking

  • Setting Up an Internet Connection
  • Reading Online Statements
  • Creating and Submitting Online Payments
  • Transferring Funds Online
  • Canceling Online Payments
  • Sending E-mail to Your Financial Institution

Lesson 17:

  • Creating Important Reports and Review of the Financial Status Checklist
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