QuickBooks Basics A five-part series in using many features of QuickBooks 2013
Class location: 210 S. Jefferson Street Roanoke, VA 24011 Located inside the Roanoke Regional Chamber of Commerce Dates:
Tuesday September 22nd, October 1st, 8th, 15th & 22nd
Time:
6:00 – 9:00 PM
Instructor: Office:
Phone: Cost: Email:
Pat Barnes Complete Small Business Solutions 3130 Chaparral Drive, Building B Suite 104 Roanoke, VA 24018 (540) 777-1314 $149.00 for entire four week series
[email protected]
Course Description, Goals and Objectives: The course will provide a hands-on, working introduction to setup and installation of QuickBooks. In addition, throughout the course, procedural and other accounting/bookkeeping issues will be addressed and discussed as they are encountered. There are no required prerequisites, although basic knowledge of computer operation in a Windows environment is assumed. The objective is to give the student a basic familiarity with the operation of the QuickBooks program and an overview of the accounting process as it relates to QuickBooks in a small business environment. Course Requirements: • •
Students must have their own laptop computer as computers WILL NOT be provided. Course Materials will include: o The textbook - QuickBooks Fundamentals Learning Guide 2013, o A copy of the QuickBooks Premier Student Trial version, and o A series of exercise or problem files for use during the class. You may use this QuickBooks trial version for 140 days after installation. A working version of the software may be purchased after the trial version expires.
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The course will cover the features and usage of QuickBooks 2013 Pro and Premier (nonindustry specific), since most small businesses will use one of these two editions. However, once you learn how to use one of these you'll be prepared to use any of the other editions, with the exception of the QuickBooks Online edition. Note: functions learned in this course will also translate fairly easily to earlier version of the program. The course will be fast-paced and will attempt to cover materials normally covered in classes lasting for eight weeks or more. All work will be done in class and there will be no required homework or outside assignments. However, if you truly desire to get the maximum knowledge from the course, you should plan to work on the class problems and exercise files on your own time.
Classroom Policies: Student attendance and active participation are required. Students will be working on individual computers, and following along with the Learning Guide. Students will be expected to work at the same pace with the rest of the class, rather than jumping ahead and working independently. Questions and discussion will be a regular and expected part of the class. Course Outline: QuickBooks is the most popular accounting software package today for small businesses. It is noted for full features and ease of use. It can provide an excellent platform for a small business that wants to automate the day-to-day accounting process and have better control over and visibility of its management information. QuickBooks will do many things for many types of business. It has a great deal of flexibility and can be configured to provide good accounting information in a wide variety of business situations. However, that flexibility comes with a price. Contrary to the suggestions in much of QuickBooks advertising, purchasing QuickBooks does not turn a small business owner into an accountant. The key to success with QuickBooks, as with most small business accounting packages, lies in proper setup and day-to-day discipline in following good bookkeeping and accounting procedures. Good accounting results don’t happen by accident. The purpose of this course is to outline the process for setting up and using many of the basic capabilities of QuickBooks. During the course, we will enter a series of basic accounting transactions that will cover the entire accounting cycle from billing customers, recording sales and receiving payment for those sales, to paying suppliers, employees and other service providers. We will also cover a number of “back office” accounting functions including reconciling bank and credit card accounts, paying sales and payroll taxes and managing inventory. In the final session we will finally set up a new company file from scratch. Questions and discussion during the first four weeks of the course will be limited to the Learning Guide and materials discussed during the course. With a class size of sixteen to twenty students, it is simply not feasible to deal with unique questions or problems faced by students in other work or company situations. In addition, since most company information is confidential, it would not be appropriate to discuss most specific company situations in a classroom environment. However, at the end of the final session, there will be some time for dealing with student questions either about the material covered during the course or, time permitting, other questions students may have about QuickBooks in their own working environment.
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Instructor: The class instructor is Robert P (Pat) Barnes. Pat is a Certified Public Accountant and owner of a local accounting firm, Complete Small Business Solutions. He has over thirty years of business experience in business and public accounting. His firm specializes in small business accountings, tax and advisory services, including accounting system implementation. Course Schedule: First Tuesday: •
Housekeeping Course Objectives Stay Together No Stupid Questions Next Saturday Afternoon – What Do You Want to Cover?
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Introducing QuickBooks – Chapter 1 Objectives QuickBooks Product Line Accounting 101 About QuickBooks Files Opening and Restoring files Entering Transactions in QuickBooks QuickBooks User Interfaces QuickBooks Help The Sales Process – Chapter 2 Objectives Tracking Company Sales Setting Up Customers Recording Sales Receiving Payments from Customers Making Bank Deposits Tracking Revenue – Chapter 3 Objectives Recording Customer Returns and Credits Writing Off a Bad Debt Creating Customer Statements Collecting Sales Tax Creating Sales Reports Review
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Second Tuesday: •
Managing Expenses – Chapter 4 Objectives Entering Expenses Setting Up Vendors Activating Class Tracking
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Tracking Job Costs Paying Vendors Printing Checks Attaching Documents Applying Vendor Credits Tracking Company Credit Cards Paying Sales Tax Accounts Payable Report Review
Bank Reconciliation – Chapter 5 Objectives Reconciling Bank Accounts Bank Reconciliation Reports Finding Errors During Bank Reconciliation Handling Bounced Checks Reconciling Credit Card Accounts and Paying the Bill Online Banking Review
Third Tuesday: •
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Reports & Graphs – Chapter 6 Objectives Types of Reports Cash versus Accrual Reports Accounting Reports Business Management Reports QuickBooks Graphs Building Custom Reports Memorizing Reports Processing Multiple Reports Finding Transactions Exporting Reports to Spreadsheets Review Customizing QuickBooks – Chapter 7 Objectives QuickBooks Preferences QuickBooks Menus & Windows QuickBooks Items & Other Lists Custom Fields Modifying Sales Form Templates
Fourth Tuesday: •
Inventory – (Chapter 8) Objectives Tools for tracking inventory in QuickBooks Setting up Inventory Parts Items
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Calculating Average Cost of Inventory Invoicing for Inventory Items Purchasing Inventory Purchase Orders Entering Bills for Received Inventory Adjusting Inventory Group Items and Inventory Assemblies Inventory Reports
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Payroll Setup – (Chapter 10) Objectives Checklist of Setting Up Payroll Payroll Accounts Payroll Items The Payroll Setup Interview Setting up Year-to-date Payroll Amounts Finishing the Payroll Setup Interview Setting Up Employee Defaults The Employee Contact List Report
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Payroll Processing – (Chapter 11) Objectives Payroll Processing Checklists Using the Employee and Payroll Centers Payroll Tax Tables Paying Employees Editing Paychecks Creating Payroll Reports Preparing Payroll Taxes
Fifth Tuesday: •
Company File Setup and Maintenance – Chapter 12 Objectives Complete Company File Setup: A 12-Step Process Step 1 - Choosing a Start Date Step 2 - Creating the File Step 3 - Setting up the Chart of Accounts and Other Lists Step 4 - Setting Up Opening Balances Step 5 - Entering Open Items Step 6 - Entering Year-to-Date Income and Expenses Step 7 - Adjusting Opening Balance for Sales Tax Payable Step 8 - Adjusting Inventory and Setting Up Fixed Assets Step 9 - Setting Up Payroll and YTD Payroll Information Step 10 – Verifying Your Trial Balance Step 11 – Closing Opening Balance Equity Step 12 – Setting the Closing Date Users and Passwords
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Adjustments and Year-end Procedures – Chapter 13 Objectives Editing, Voiding and Deleting Transactions General Journal Entries Memorizing Transactions Closing the Year Setting the Closing Date to "Lock" Transactions
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Questions and Answers – open discussion on usage, etc.
