QuickBooks Online bookkeeping business designed for small business clients or small businesses who want a simple cash basis format for entering data.
This course is designed for bookkeepers and is also useful for small business owners who want a simple system for entering financial data into QuickBooks for financial planning and year-end tax preparation.
The bookkeeping system we discuss will also describe the relationship between the bookkeeper, the business, and the year-end tax and financial statement preparers.
We will outline a cash basis bookkeeping system using QuickBooks, a system that will enter most transactions directly into the check register.
The course will discuss the responsibilities of a bookkeeper and the responsibilities of the business when a bookkeeping engagement in entered into.
We will work through a sample bookkeeping project in QuickBooks including the setting up of a new QuickBooks company file.
The course will practice entering data into the QuickBooks register directly from a bank statement. We will provide practice bank statements to use with the project as well as step by step instructional videos.
As we enter data directly into the check register from the bank statement, we will compare and contrast the cash basis system we are using to a full accounting cycle system. We will also review the financial statements periodically to see how QuickBooks is using the data to make reports.
After entering data into the QuickBooks check register from the bank statement, we will perform bank reconciliations. As we perform bank reconciliations, we will discuss what a bank reconciliation is and the benefits a bank reconciliation provides.
The course will then discuss options for entering specific accounting data into QuickBooks including payroll, equipment, loan payments, insurance, credit card payments, and invoices. We will provide practice QuickBooks files for different options related to the items listed above and explore the pros and cons of each option. The bookkeeping options will help tailor our system to our specific bookkeeping needs.
As we enter accounting data into the system we will discuss common questions we will have when entering the first few months of data and how to write down these questions, move forward with data input, and organize the financial data so that we can quickly go back to it once our client questions are answered.
This course will discuss, print, and export month end and year end reports, reports a bookkeeper may provide to clients monthly and reports the business will need at year-end for tax preparation.
We will discuss year-end adjusting entries. The bookkeeping system we propose will depend on an outside accounting firm, tax preparer, or CPA firm to help with the year-end adjusting entries. As bookkeepers we want to be aware of the adjusting entry process so we can work with any year-end accounting firm, tax preparer, or CPA firm. We will enter common adjusting entries into an adjusting entry Excel worksheet and into Quickbooks.
Finally, we will discuss whether or not to enter the year-end adjusting entries into our QuickBooks bookkeeping system and different options to do so.
In addition to the instructional videos, this course will include downloadable
• Excel practice files
• Downloadable PDF Files
Excel practice files will be preformatted and will generally have at least two tabs, one tab with the completed work and a second tab with a preformatted worksheet we can fill in as we watch the instructional videos.
Who will we be learning from?
Bookkeeping Project Outline and Plan Using QuickBooks
Engagement Letter and Questionnaire
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22 Bookkeeping Project Outline and Plan
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3Data Files and Answer Keys
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4PDF - 20 Outline Of Standard Client
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520 Outline Of Standard Client Or Business
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6PDF - 22 Outline Of Service We Provide
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722 Outline Of Bookkeeping Process
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8PDF - 23 Network With Other Professionals
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923 Network With Other Professionals
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10PDF - 24 Bank Feeds
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11PDF - 24 Bank Feeds Option
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12Accounting Comic Break
Create New Company File & QuickBooks File Using QuickBooks
Enter Data From Bank Statement for Month One Into QuickBooks
Bank Reconciliation For Month One In QuickBooks
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255 Enter Data From Bank Statement for Month One Into QuickBooks
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2680 Bank Statement Overview
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2785 Enter Deposits From Bank Statement First Month
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2887 Entering Cash Outflows Strategy
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2988 Entering Cash Outflows Part 1
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3089 Entering Cash Outflows Part 2
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3190 Review Reports After Data Entry For First Month
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32Accounting Comic Break
Enter Data From Bank Statement for Month Two In QuickBooks
Bank Reconciliation For Month Two In QuickBooks
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377 Enter Data From Bank Statement for Month Two In QuickBooks
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38100 Enter Transactions Second Month Setup Process
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39102 Enter Deposits From Bank Statement Second Month
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40104 Enter Cash Outflows From Bank Statement Second Month Part 1
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41106 Enter Cash Outflows From Bank Statement Second Month Part 2
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42108 Review Reports After Entering Data From Bank Statement For Second Month
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43Accounting Comic Break
Payroll Options and Data Entry Using QuickBooks
Equipment and Financing Options and Data Entry Using QuickBooks
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479 Payroll Options and Entry Using QuickBooks
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48PDF - 120 Payroll Options
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49120 Payroll Options
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50122 Categorize Payroll Payments
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51123 QuickBooks Desktop Version Payroll Example
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52125 Add Employees
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53127 Process Payroll
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54127.2 Process Payroll Plain Payroll
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55127.4 Payroll Tax Forms & Payment Set Up
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56127.6 Payroll Forms After Plain Payroll Financials & 941
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57128 QuickBooks Online Process Paid Payroll Example
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58Accounting Comic Break
Loan Payments Options and Data Entry Using QuickBooks
Insurance Payments Options and Data Entry Using QuickBooks
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6511 Loan Payments Options and Data Entry Using QuickBooks
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66PDF - 140 Loan Payment Options
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67140 Loan Payment Options
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68142 Enter Loan Balance Record Payments as Reduction To Loan Balance
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69143 Loan Amortization Interest vs Principal
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70146 Enter Loan Balance & Break Out Interest & Principal Portion Of Loan Paymen
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71Accounting Comic Break
Credit Card Options and Data Entry Using QuickBooks
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7212 Insurance Payments Options and Data Entry Using QuickBooks
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73PDF - 150 Insurance Options
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74150 Insurance Options
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75152 Enter All Insurance Payments As Insurance Expense & Let Accountant Adjust I
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76154 Enter All Insurance Payments As Prepaid Insurance & Let Accountant Make Ye
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77Accounting Comic Break
Invoice and Accounts Receivable Options and Data Entry Using QuickBooks
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7813 Credit Card Options and Data Entry Using QuickBooks
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79PDF - 160 Credit Card Options
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80160 Credit Card Options
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81162 Enter Credit Card Payments The Easy Method
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82164 Enter Credit Card Payments As They Clear Bank & Assign Expense Accounts Ba
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83166 Enter Credit Card Liability & Apply Payments To The Liability Account
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84Accounting Comic Break