Course curriculum

    1. 6010 Set Up Excel Worksheet

    2. 6012 Set Up Excel Worksheet #2

    3. 6014 Set Up Excel Worksheet #3

    4. 6016 Set Up Excel Worksheet #4

    5. OneNote Resource

    1. 6010RestoreBackupDataFiles

    2. 6040CreateaNewCompanyFile

    3. 6060IncreaseSizeofIcons

    1. 6010 Restore & Backup Data Files

    2. 6040 Create a New Company File

    3. 6060 Increase Size of Icons

    1. 6300 Inventory & Inventory Subsidiary Ledger

    1. 6080CompanyPreferencesAccounting

    2. 6100CompanyPreferencesBillsCalendarChecking

    3. 6120CompanyPreferencesDesktopViewFinanceChargeGeneral

    4. 6140CompanyPreferencesIntegratedApplicationItemsInventory

    5. 6160JobsEstimatesMultipleCurrenciesPaymentsPayroll

    6. 6180CompanyPreferencesRemindersReportsGraphs

    7. 6200CompanyPreferencesSalesCustomersSalesTax

    8. 6220CompanyPreferencesSearchSendFormsServiceConnectionSpellingTax1099TimeExpens

    1. Documents to Download

    2. 6080 Company Preferences Accounting

    3. 6100 Company Preferences Bills, Calendar, & Checking

    4. 6120 Company Preferences Desktop View, Finance Charge, & General

    5. 6140 Company Preferences Integrated Application & Items & Inventory

    6. 6160 Jobs & Estimates, Multiple Currencies, Payments, & Payroll

    7. 6180 Company Preferences Reminders & Reports & Graphs

    8. 6200 Company Preferences Sales & Customers & Sales Tax

    9. 6220 Company Preferences Search, Send Forms, Service Connection, Spelling, Tax 1099, & Time & Expens

About this course

  • $50.00
  • 213 lessons
  • 39.5 hours of video content

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 Desktop 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 following section will discuss what the QuickBooks Desktop component of the course will cover.

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 following section will discuss what the Excel components of the course will cover.

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.