Course curriculum

  • 01

    Start a New Company File in QuickBooks 2022

    • Documents to Download

    • 6010ComprehensiveProblemIntroduction

    • 6040Free30DayTrialSetUp

    • 6060AccountandSettingsCompanyTab
  • 02

    Company Preferences

    • Documents to Download

    • OneNote Resource

    • 6080AccountandSettingsBillingandSubscriptionUsageandSalesTabs

    • 6100AccountandSettingsExpensesPaymentsTimeandAdvancedTabs

    • 6120ManageUsers

    • 6140QuickBooksLabsDarkMode
  • 03

    Excel- Create Worksheet fort New Company Accounting Transactions

    • 6010 Set Up Excel Worksheet

    • 6012 Set Up Excel Worksheet #2

    • 6014 Set Up Excel Worksheet #3

    • 6016 Set Up Excel Worksheet #4
  • 04

    Adding Service Items & Inventory Items

    • Documents to Download

    • 6240EnteringBeginningBalancesCustomersVendorsandItemsOverview

    • 6260EnterServiceItems

    • 6280InventoryTrackingOptions

    • 6300SetUpInventory
  • 05

    Excel- Adding Inventory Items & Related Inventory Account Balances

    • 6300 Inventory & Inventory Subsidiary Ledger
  • 06

    Sales Tax Setup, Add Customers, & Add Vendors

    • Documents to Download

    • 6320SalesTax

    • 6360NewVendorsSetupandAccountsPayableBeginningBalances

    • 6340NewCustomersSetupandAccountsReceivableBeginningBalances
  • 07

    Excel- Add Customers, Add Vendors, & Accounts Receivable & Accounts Payable Balance

    • 6340 Accounts Receivable & Subsidiary Ledger

    • 6360 Accounts Payable & Subsidiary Ledger

    • 6362 Financial Statements
  • 08

    Opening Balances, Adjustments to Equity, & Manual Payroll Setup

    • Documents to Download

    • 6380AddNewAccountsandOpeningBalances

    • 6400AdjustOpeningBalances

    • 6420PayrollSetup

    • 6440GenerateReportsAfterEnteringBeginningBalances
  • 09

    Excel- Add Opening Account Balances

    • 6380 Add New Accounts & Opening Balances

    • 6383 Adjust Beginning Balances in Worksheet for Current Period Data Input
  • 10

    Month 1- Record Owner Investment, Purchase of Fix Asset & Investment 2022

    • 7020DepositsOwnerInvestmentandLoan

    • 7040PurchaseofFurnitureandInvestmentTransactions
  • 11

    Excel- Month 1- Record Owner Investment, Purchase of Fixed Assets & Inventory

    • 7020 Record Deposits from Owner and Loan

    • 7040 Purchase of Furniture & Investment Transactions
  • 12

    Month 1- Enter Purchase Order & Enter Check or Expense Form from PO 2022

    • Documents to Download

    • 7060EnterPurchaseOrderPO

    • 7080CashPaymentforInventoryLinkedtoPurchaseOrderPO
  • 13

    Excel- Month 1 - Enter Transactions for Purchase of Inventory

    • 7080 Cash Payment for Inventory Linked to Purchase Order P.O.
  • 14

    Month 1- Enter Invoice, Sales Receipt & Deposits 2022

    • Documents to Download

    • OneNote Resource

    • 7100InvoiceSellingInventory

    • 7140 Sales Receipt Payment Received at Point of Sale

    • 7160 Deposits From Payment to Deposit or Undeposited Funds

    • 7120ReceivePaymentTransactionandForm
  • 15

    Excel- Month 1- Enter Transactions for Sale of Inventory and Deposits

    • 7100 Invoice Selling Inventory

    • 7120 Receive Payment From Previous Invoice

    • 7140 Sales Receipt Payment Received at Point of Sale

    • 7160 Deposits From Undeposited Funds
  • 16

    Month 1-Enter Invoice, Receive Payment Bill 2022

    • Documents to Download

    • 7180InvoiceCreatedFromCheckCreatedFromPurchaseOrder

    • 7200ReceivePaymentandMake

    • 7220WriteChecksforExpensesandPrepaidAssets

    • 7240BillPay
  • 17

    Excel- Month 1- Enter Transaction for Sale of Inventory, Receive Payment & Bill

    • 7180 Invoice Created From Check Created From Purchase Order

    • 7200 Receive Payment & Make Deposit

    • 7220 Write Checks for Expenses & Prepaid Assets

    • 7240 Bill Pay
  • 18

    Month 1- Create Customer Job, Pay Employees, & Create Sales Receipt for Job

    • Documents to Download

    • OneNote Resource

    • 7260JobsSubCustomersandProjects

    • 7280PayEmployees

    • 7281PayrollAdjustment

    • 7300EnterBillableTimeandAddtoInvoiceforJob
  • 19

    Excel- Month 1- Transactions for Payroll & Create Sales Receipt

    • 7280 Pay Employees

    • 7281 Pay Employees Part 2

    • 7300 Enter Billable Time & Add to Invoice

    • 7301 Enter Billable Expenses to Invoice
  • 20

    Month One Reports

    • Documents to Download

    • 7320MonthOneReports
  • 21

    Excel- Month 1- Create Financial Statements

    • 7320 Month One Financial Statements
  • 22

    Month 2- Enter Loan Payments, Create Amortization Tables & Investment 2022

    • Documents to Download

    • OneNote Resource

    • 8020MakeAmortizationTable1

    • 8022MakeLoanPayments

    • 8040ShortTermInvestmentSalesandGains

    • 8060ChangeAccountCategorizationtoOtherExpense
  • 23

    Excel- Month 2- Enter Loan Transaction, Create Amortization Table & Investment

    • 8005 Format Worksheet for New Month

    • 8020 Make Amortization Table

    • 8022 Make Loan Payments

    • 8040 Short Term Investment Sales & Gains
  • 24

    Month 2- Enter Purchase Order, Sales Receipt, Bill for Inventory

    • Documents to Download

    • 8080 Purchase Order Adding New Items

    • 8120SalesReceiptDeposit

    • 8122RecordReceiptofInventorywithBillLinkedtoPO
  • 25

    Excel- Month 2- Sale, Cash Received at Same Time & Bill for Inventory

    • 8120SalesReceiptDeposit

    • 8122RecordReceiptofInventorywithBillLinkedtoPO
  • 26

    Month 2- Invoice from Billable Item, Advanced Customer Deposit 2022

    • Documents to Download

    • 8130PopulateInvoiceUsingBillableItemThatwasCreatedFromPO

    • OneNote Resource

    • 8140AdvancedCustomerPaymentorUnearnedRevenueMethod1

    • 8160ApplyCustomerDepositCredittoInvoiceNewTitleIntro

    • 8200AdvancedCustomerPaymentorUnearnedRevenueMethod2
  • 27

    Excel- Month 2- Invoices for Service Sales & Advanced Customer Deposit

    • 8130PopulateInvoiceUsingBillableItemThatwasCreatedFromPO

    • 8140AdvancedCustomerPaymentorUnearnedRevenueMethod1

    • 8160ApplyCustomerDepositCredittoInvoice

    • 8200AdvancedCustomerPaymentorUnearnedRevenueMethod2
  • 28

    Month 2- Invoicing for Hourly Service 2022

    • Documents to Download

    • 8320BillforHourlyServicesofStaffEnterBillableTime

    • 8322CreateInvoicesUsingBillableTimeReceivePaymentandMakeDeposit
  • 29

    Excel- Month 2- Transactions for Billable Time

    • 8320BillforHourlyServicesofStaffSetupItemsEnterBillableTime

    • 8322CreateInvoicesUsingBillableTime
  • 30

    Month 2- Invoicing for Rental Income with Advanced Customer Deposit 2022

    • Documents to Download

    • OneNote Resource

    • 8340RentalIncomeSetUpServiceItems

    • 8342RentalIncomeCustomerDeposit

    • 8344RentalIncomeInvoiceReceivePaymentandDeposit
  • 31

    Excel- Month 2- Rental Income Transaction & Advanced Customer Deposit

    • 8342RentalIncomeCustomerDeposit

    • 8344 Rental Income Estimate & Invoice
  • 32

    Month 2- Purchase & Finance Equipment & Recategorize Fixed Assets 2022

    • Documents to Download

    • 8360PurchaseandFinanceEquipment

    • 8362SubaccountsCategoriesForFixedAssets
  • 33

    Excel- Month 2- Purchase & Finance Equipment

    • 8360 Purchase & Finance Equipment

    • 8362 Subaccounts Categories For Fixed Assets
  • 34

    Month 2- Enter & Pay Month End Bills & Pay Sales Tax 2022

    • Documents to Download

    • 8365BillsEnterSortandPay

    • 8370PaySalesTax
  • 35

    Excel- Month 2- Enter & Pay Month End Bills & Pay Sales Tax

    • 8365BillsEnterSortPay

    • 8370PaySalesTax
  • 36

    Month 2- Enter Payroll & Pay Payroll Tax for Prior Period 2022

    • Documents to Download

    • OneNote Resource

    • 8380EnterPayrollForSecondMonth

    • 8381EnterPayrollForSecondMonthAdjustment

    • 8385PayPayrollTaxes
  • 37

    Excel- Month 2- Enter Payroll & Pay Payroll Tax for Prior Period

    • 8380EnterPayrollForSecondMonthPart1

    • 8381EnterPayrollForSecondMonthPart2

    • 8385PayPayrollTaxes
  • 38

    Month 2- Generate Month End Report & Review Work

    • Documents to Download

    • 8420CreateReportsAfterSecondMonthofDataInput

    • 8421ReportsMonthTwoSaveasPDFandExporttoExcel
  • 39

    Excel- Month 2 Financial Statements

    • 8420CreateReportsAfterSecondMonthofDataInputYTD

    • 8421CreateReportsAfterSecondMonthofDataMonthofFebruaryOnly

Description

This course will discuss the building of an accounting system and entering two months of data input into it. We will compare the process using an accounting system in QuickBooks Online and an accounting system using Excel. Because Excel is a much more transparent tool, it will provide us a much better understanding of the workings of QuickBooks.

The QuickBooks related sections of the course will cover the following:

We will create a new company file and populate it with two months of data input.

The data input will cover every significant form in each operating cycle, including the revenue cycle, the payables cycle, and the payroll cycle. The primary operating cycles are also commonly grouped as the customer, vendor, and employee cycle.

As we enter financial transactions, populating forms, we will analyze the impact on the financial statement and related reports.

Entering two months of data will allow us to see the difference in complexity of entering data for the first month of operations, a time when we have no historical data to help us, and entering data in following months, a time when we do have prior history and transactions to help simplify the process.

The Excel related sections of the course will cover the following:

In this course we will create an accounting system starting from a blank Excel worksheet and add begging balances to our accounts.

Learners will learn how to navigate Microsoft Excel as well as how to create a well-designed accounting worksheet, complete with a general journal, trial balance, general ledger, and subsidiary ledgers for accounts receivable, accounts payable, & inventory. 

Excel is a very good tool to learn accounting because it is much more transparent than a database program, like accounting software, QuickBooks being a common example of accounting software.

For most new steps in the process, you will have access to a downloadable Excel Workbook, containing at least two tabs, one with the answer, the new steps being completed, the other starting out where the prior presentation left off.

Once our accounting system using an Excel worksheet is set up, we will add journal entries to enter beginning balances to our accounts, imagining we are moving from a prior accounting system to our new Excel worksheet system.

When adding the beginning inventory balance to the chart of accounts, we will also add an inventory subsidiary ledger, reporting inventory by item and unit, as well as by cost.

As we add the beginning accounts receivable balance to the chart of accounts, we will also add the accounts receivable subsidiary ledger, showing the money owed to the company by customer.

And when we add the accounts payable balance to the chart of accounts, we will add the accounts payable subsidiary ledger, reporting the money owed by the company to vendors.