Royalwise OWLS: Next Level Bookkeeping in QBO
(On-Demand Web-Based Learning Solutions)
Price: $111
Click to register:
Ready to go beyond the basics? For you, entering standard business transactions into QuickBooks Online is now routine. However, that’s just the beginning!
It’s time to learn indispensable and invaluable intermediate and advanced accounting techniques that bookkeepers use to increase the accuracy of a company's financial reports.
QBO Rock Star Alicia Katz Pollock has designed this course to be extremely accessible so that you can comfortably take a deeper dive into important accounting techniques.
She'll make sure you understand the difference between cash and accrual accounting, how to adjust inventory, when and when not to use Journal Entries, the ramifications of voiding transactions, how to manage Prepaid Expenses, and how to manage Equity for a variety of business formations.
Knowing how to confidently use these techniques will refine your clients’ financial reports and take them to the next level.
What You’ll Learn
- The difference between Cash vs. Accrual Accounting
- Zero-dollar transactions for inventory valuation, bartering, and daily sales receipts
- Creating Vendor Credits involving inventory
- Managing Construction Retainage
- Journal Entries - when to use them, when NOT to use them, and what to do instead.
- Allocating Overhead Expenses across Classes
- Prepaid Expenses and Deferred Revenue - how to spread large transactions throughout the year instead of booking it all at once
- How to Void transactions in past periods
- Writing off accrual invoicesHow to set up Equity accounts for Sole Proprietors, Partnerships, and S-Corps.
- How to close Equity accounts at year’s end
After completing this course, you will be able to:
- Identify adjustments to a company’s books for taxes and compliance
- Differentiate between cash vs. accrual reporting needs
- Recognize how to use journal entries appropriately
- Recall how to create year-end equity allocations
Instructional Level: Advanced
Course Length: 2.5 hours
Course Credits: 2.5 CPE, Certificate of Completion
Field of Study: Computer Software & Applications
Delivery Method: QAS Self Paced
Who should take this class?: Bookkeepers and Accountants who strive for complete accuracy in the Balance Sheet and Profit & Loss Statement
Prerequisites: Our "QuickBooks® Online Fundamentals” On-Demand video course, or Our “Bookkeeping’s Tricky Situations” course, or Prior QuickBooks® Online experience.
Advance Preparation: None
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