Quickbooks Training Schedule

  • Preliminaries
    1. Set up interview
    2. Chart of Accounts
      1. Apostrophe prefix for sales items
      2. Accent prefix for purchases items
      3. Asterisk to warn that there are subaccounts
      4. Credit Cards on Hand as a Bank Account
      5. "Bills are due 0 days"
      6. Allignment of Sales and COGS accounts
    3. Preferences
      1. Decimal
      2. Recall last entry

  • Session I: Posting Purchases Invoices
    1. Explain
      1. Accent prefix
      2. Purchases accounts
      3. Prepaid Sales Tax
      4. Mixed Purchases
      5. Supplies on mixed Purchases invoice
    2. Explain
      1. Vendor List
      2. Use of amperstands
      3. "Print on check as" field
      4. Account information

  • Session II: Writing Checks
    1. "Male" Checks
      1. Using Bill Pay
      2. Checking and making small adjustments
    2. "Female" Checks
      1. Expenses
      2. Reimbursements are expenses
      3. Non-Expense disbursements
        1. Personal Draws
        2. Payments on Accounts
          1. Either Principal & Interest, or
          2. Payments, adjust at end of year
  • Session III: Posting Daily Sales
    1. Posting Daily Sales Report in QuickBooks
    2. Explain
      1. Apostrophe prefix
      2. Accent prefix
      3. Asterisk prefix
    3. Explain
      1. Sales Accounts
      2. Sales Tax Collected
      3. Received on Account (if charge accounts)
      4. "Amount to Account For"
      5. Bank Deposit
      6. Credit Cards on Hand
      7. Paid-Outs as expenses
      8. Prepaid Sales Tax account
      9. "Amount Accounted For"
      10. Cash Short/(Over)


  • Session IV: Gasoline
    1. Using Credit Cards on Hand to pay
    2. Adjusting Credit Card on Hand balance

  • Session V: Ending Inventory
    1. Adjusting early or belated Inventory
      1. Subtract retail sales if early; add retail sales if late
      2. Use multipliers
      3. Add purchases if early; subtract purchases if late
      4. Two or three days will not matter in most cases.
    2. Adjusting ending inventory
      1. Affected accounts are Inventory:Category and Cost of Goods Sold:Category
      2. "Out with the old, in with the new."

  • Miscellaneous Items
    1. Posting Payroll
    2. Posting Payroll tax payments
    3. Posting sales tax returns

  • Follow-up
    1. General Journal entries to enter prior months' P&L's
    2. General Journal entry to enter beginning of year capital accounts

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