QuickBooks Online Level 1: Fast Track Course

Course Overview

Getting Started with QuickBooks Online

• Introducing QuickBooks Online
• QuickBooks Online Subscriptions
• Mobile Devices
• Updates and the Ever-Evolving User Interface
• Security
• The Test Drive

Other Tools You’ll Need

• Navigating the User Interface
• The Gear Menu
• The Top-Right Navigation Tools
• The Help Menu
• The Navigation Bar
• Accounting—Behind the Scenes
• Generally Accepted Accounting Principles (GAAP)
• Accrual Basis vs. Cash Basis Accounting
• Account Types and Financial Reports

Setting Up a New Company File

• Planning and Creating Your Company File
• Start Date
• Setup Checklist—Elements of the Plan
• Customizing Your Company File
• The Chart of Accounts
• Products and Services
• Adding and Managing Users
• Opening Balances and Historical Transactions

Working with Customers

• The Sales Center
• Adding Customers and Sub-Customers
• Importing Customers from an Excel or CSV File
• Editing, Merging, and Making Customers Inactive
• Recording Sales Transactions
• Customizing Sales Forms Settings
• Creating Sales Receipts and Invoices
• Price Rules
• Receiving Customer Payments
• Recording a Bank Deposit
• Creating Customer and Sales Reports
• Correcting Errors

Working with Vendors

• The Expenses Center
• The Money Bar
• The Vendors List
• Adding Vendors
• Importing Vendor Data from an Excel or CSV File
• Editing, Merging, and Making Vendors Inactive
• Creating Vendor Transactions: Purchases and Expenses
• Customizing Expense Form Settings
• Creating Check, Expense, and Bill Records
• Managing Accounts Payable
• Accounts Payable Reports
• Other Vendor Reports
• Paying Bills

Banking and Credit Card Transactions

• Managing the Banking Center
• Setting Up and Using Bank Feeds
• Managing Bank Rules
• Other Banking Transactions
• Entering Debit and Credit Card Transactions
• Reconciling Accounts
• Bank Feeds
• Undeposited Funds
• Preparing Financial Reports

Tracking Inventory

• Enabling Tracking
• Entering Inventory
• Non-Inventory Products
• Inventory Adjustments

Purchase Orders

• Purchase Order Reports
• Receiving Inventory Against a Purchase Order
• Purchase Orders for Non-Inventory Products
• Adding an Expense to a Purchase Order Payment
• Purchasing a Product without a Purchase Order

Credits, Returns, Taxes and Refunds

• Vendor Credits/Returns
• Sales Tax
• Inventory and Non-Inventory Products
• Customer Returns and Credits
• Customer Refunds
• Inventory Reports

Working with Balance Sheet Accounts and Budgets

• Recording Other Current Assets
• Journal Entries and Recurring Transactions
• Fixed Assets and Long-Term Liabilities
• Transferring Funds Between Accounts
• Petty Cash
• Handling Uncollectible Receivables/Bad Debts
• Creating and Reviewing Budgets

Customizing, Fine-Tuning, and Extending Capabilities

• Customizing Reports
• Sending Reports
• Adding a Custom Field to Sales Forms
• Protecting Confidential Information
• Enabling Privacy Mode on the Dashboard
• Setting User Permissions
• Keyboard Shortcuts
• Extending Capabilities with Apps
• The QuickBooks Community

Staying on Track: The Accounting Cycle

• Generally Accepted Accounting Principles and the Accounting Cycle
• GAAP
• Class Tracking
• Location Tracking
• Accounting Cycle Steps
• Project Tracking
• Tags
• Delayed Charges and Credits

Completing the Accounting Cycle, Closing the Books, and Reviewing Changes

• Completing the Accounting Cycle
• Creating the Trial Balance Report and Making Adjustments
• Adjusting Journal Entries
• Comparing Inventory Quantities and Making Adjustments
• Creating Financial Statements
• Assembling Management Reports
• Closing the Books
• The Audit Log and Audit History
• Audit Log
• Audit History

Prerequisites

• Basic proficiency in the Windows operating system and browsing online
• A good understanding of basic accounting practices.