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SBX7439

Course
SBX7439
Course Title
Basic Accounting with QuickBooks®

Description

Build a solid foundation by learning the fundamentals of accounting and how it relates within QuickBooks®. Understand the chart of accounts and what happens when bills, checks and invoices are entered.       

Objectives

Upon successful completion of this course, the participants will be able to:

  • Create a chart of accounts
  • Enter bills
  • Enter checks 
  • Record invoices
  • Deal with a couple of financial reports.

Content

  • Class 1
    • Work with setting up the chart of accounts
      • asset
      • current liability
      • other asset
      • long term liability
      • equity
      • Learn why it is so important to set up the chart of accounts correctly
    • Understanding the debits and credits of accounting through doing transactions:
      • bills
      • checks
      • invoices
  • Class 2
    • Understanding A-L=E formula and how to arrive at it
      • Cash vs. accrual methods?
      • Job costing
      • Understanding the Balance Sheet and P & L
      •  Assets - Liabilities = Equity What does it mean?
      • Journal reports

 

Prerequisites

Basic computer skills

Method of Instruction

Lecture; small group discussion; Computer use; overhead use; role-plays

Evaluation

  • Exam:  No
  • Demonstration of Skills:  Yes
  • Class Participation:  Yes