- Using the Customer and Vendor Lists
- Selling: invoices, sales receipts, invoice payments, credit memos, delayed charges, and customer statements
- Purchasing: bills, bill payments, checks, expenses, credit memos and tracking accounts payable vs. not tracking accounts payable
- Voiding vs. deleting checks
- Sales Taxes: set up, adjust, and pay
- Banking: bank reconciliation and locating discrepancies
Understand Accounting
- Really understanding your financial statements
- Showing the Profit & Loss Statement by month or as a percentage of income
- Setting up the Chart of Accounts
- Using Cash vs. Accrual accounting
- Entering general journal entries
Payroll
- Setting up employees, deductions and company contributions
- Setting up company payroll preferences
- Tracking and invoicing time
- Processing paychecks
- Making tax deposits
Work with Reports
- Customizing columns: add, reorder, delete, and resize
- Saving report customizations
- Setting up email schedules for reports
Customizing QuickBooks (make QuickBooks REALLY work for you!)
- Modifying important preferences
- Creating and using custom fields
- Setting up bank rules to make online banking easier
- Using classes (for departments, locations, etc.)
Sales Transactions, Tricks, and Workarounds
- Finding and fixing typical errors in accounts receivable
- Methods for handling customer deposits
- Writing off bad debts
- Customer under- and over-payments
- Transferring customer credits
- Using QuickBooks Online Payments to accept credit card payments
- Setting up PayPal and using it to receive payments
- Batch printing and emailing of invoices
- Options for sending invoices and sales receipts
- Processing NSF customer payments
- Entering retail sales
Payroll Transactions, Tricks, and Workarounds
- Issuing employee loans and advances
- Changing payroll preferences
- Deleting paychecks
- Employee and owner reimbursements
The Accounting Cycle (who does what and when?)
- What is the accounting cycle and why is it important?
- Daily accounting tasks
- Weekly accounting tasks
- Pay period accounting tasks
- Monthly accounting tasks
- Quarterly accounting tasks
- Annual accounting tasks
- Key tasks within each cycle demonstrated in QuickBooks
- Closing the books
- Restricting access to closed periods
Purchase Transactions, Tricks, and Workarounds
- Lines of credit
- Typical bill payment errors
- Preparing 1099’s at year-end
- Employee and owner purchases
- Prepaid expenses
- Vendor deposits
- Petty cash
- Correcting improperly paid bills
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