Available classes
Who Should Attend:
This course is recommended for individuals who are first time users of the program and looking to setup up their company books using the software or for existing QuickBooks users looking for a refresh on the variety of basic QuickBooks features. It is also recommended for any users who are either looking to switch to QuickBooks or have switched to QuickBooks recently for handling their accounting needs. The software used is QuickBooks Desktop for Windows.
QuickBooks Level 1 Outline:
Introduction to the Software
- How to navigate through QuickBooks modules, icon and menu bar
- Using the help feature in QuickBooks, Support, Services and Learning Centre
- Setting preferences for both user and company
- Real time versus batch, continuous update of source documents to journals to general ledger to accounting reports and financial statements
- Looking at the account registers and the drill down process
- The To do and Reminders List, QuickBooks calendar and the company snapshot
- Comparing different versions of QuickBooks, 3rd party integration, memorized transactions and drill downs
- How General Journal Entries work in QuickBooks; manual, memorized and real time
Setting up a New Company
- Steps to take before starting a new company file
- Easy Step Interview Process
- Entering in the company information and preferences
- Deciding what type of business you are
- Choosing how you are organized
- Choosing your start date for the file
- Customizing the look of the desktop to your business, data input and query screens, menus, defined fields and icon bar
- Entering in the Starting balances of your accounts
- Customizing the chart of accounts, tax mapping, tax return codes, reports and exporting to tax programs
- Understanding and using the lists and/edit multiple list entries
- Memorizing transactions, for automatic or discretionary entry and on a random basis
Accounts Receivable / Customer Centre
- Overview of the Customer Centre
- Setting up and creating new customers
- Importing and exporting invoices and quotes and item numbering mapping
- Entering in opening balances for existing customers
- Creating jobs for customers
- Setting up point of sale (P.O.S.) and/or how to download POS software
- Creating Estimates, Sales orders, Invoices and the benefit and rationale of memorizing recurring entries
- Using the sales receipt function
- Receiving payments and prepayments (deposits) from Customers
- Recording full payment of invoices
- Recording partial payments of invoice
- Recording overpayments by customers
- Issuing Credit Memos and Refunds
- Recording the deposit into the bank
Accounts Payable / Vendor Centre
- Overview of the Vendor Centre
- Setting up and creating new vendors, and how to merge vendors
- Entering in opening balances for existing vendors
- Entering in bills received from vendors, and trade account vendors (suppliers)
- Entering in opening balances for existing vendors
- Entering in credit card transactions
- Entering in credit memos
- Writing cheques
- Creating and printing cheques from QuickBooks
- Entering in handwritten cheques
- Making payments
- To vendors for outstanding bills
- Payments to credit cards
- Handling overpayments to vendors
Banking Centre
- Using the online banking centre
- Using the online banking
- Transferring funds between accounts
- Recording deposits made to bank accounts and using the undeposited funds account
- Reconciling accounts
- Bank accounts and petty cash
- Credit Card accounts
- Other accounts
Period End Maintenance
- Period end procedures, year end, closing accounts, and accrual reversals
- Period end reports
- Data verification and backing up your file