This comprehensive course covers the essential features and functionality of Intuit's QuickBooks desktop application. Designed to help participants successfully navigate and utilize the software effectively, this program uses the QuickBooks 2021 version and addresses the most common challenges encountered by users learning to work with the platform.
Prerequisites:
Basic proficiency with the Windows operating system is recommended, along with a foundational understanding of accounting practices. For individuals with a limited accounting background or those new to bookkeeping, we recommend first taking our on-demand self-study course: Accounting On-Demand: Introduction to Business Accounting, Bookkeeping, and Payroll.
Course Outline:
Getting Started
- Launching QuickBooks and configuring initial preferences
- Identifying the main components of the QuickBooks operating environment
- Navigating the user interface and accessing built-in help resources
- Learning common business accounting terminology
- Closing QuickBooks properly at the end of your work session
- Review and assessment of introductory concepts
Setting Up a Company
- Creating a new QuickBooks company file from scratch
- Utilizing the Chart of Accounts for organizing financial data
- Review and assessment of company setup procedures
Working with Lists
- Creating and managing company lists for clients, products, and vendors
- Working with the Customers and Jobs List to organize client information
- Managing the Employees List for payroll and staff records
- Maintaining the Vendor List for supplier relationships
- Creating and editing the Item List for products and services
- Working with additional lists, such as classes and custom fields
- Managing lists effectively to keep data current and organized
- Review and assessment of list management skills
Setting Up Inventory
- Entering inventory items into the system
- Ordering inventory from suppliers
- Receiving and logging inventory when orders arrive
- Processing payments for inventory purchases
- Making manual adjustments to inventory quantities and values
- Review and assessment of inventory management procedures
Selling Your Products
- Creating product invoices for customers
- Applying credit memos to invoices for returns and adjustments
- Sending invoices directly to clients via email
- Setting up price levels for different customer types
- Creating sales receipts for cash transactions
- Review and assessment of sales procedures
Invoicing for Services
- Setting up service items in your item list
- Customizing invoice formats to suit your business needs
- Creating service invoices for billing hourly work or flat-fee services
- Editing invoices after creation to make corrections or changes
- Voiding invoices that should no longer be in the system
- Deleting invoices when necessary to remove invalid records
- Entering statement charges for ongoing client billing
- Creating detailed billing statements for client review
- Review and assessment of service invoicing procedures
Processing Payments
- Generating Open Invoices reports to track unpaid customer bills
- Using the Income Tracker to monitor revenue streams
- Recording customer payments received for outstanding invoices
- Preparing and making bank deposits of customer payments
- Managing bounced checks and customer payment issues
- Review and assessment of payment processing
Working with Bank Accounts
- Writing checks through QuickBooks for vendor payments
- Voiding checks that were written in error
- Using bank account registers to track all transactions
- Entering handwritten checks that were written outside the system
- Transferring funds between different business accounts
- Reconciling checking accounts to match bank statements
- Review and assessment of bank account management
Entering and Paying Bills
- Recording and managing business expenses and vendor costs
- Using the QuickBooks accounts payable system for vendor management
- Entering bills from suppliers into the system
- Paying bills through QuickBooks to maintain complete records
- Recording vendor credits for returns and adjustments
- Review and assessment of accounts payable procedures
Using the EasyStep Interview
- Setting up a new company using QuickBooks' guided EasyStep Interview feature
- Review and assessment of the setup process
