bus211-ver9.10-sg

QuickBooks Plus 2010-11 (2 day)

Description
The skills and knowledge acquired in the course are sufficient to be able to use and operate QuickBooks to set up the chart of accounts for a small business, produce and process invoices, purchase orders, reconcile bank accounts and produce a range of reports.

Objectives
Upon completion you should be able to:
• use basic QuickBooks navigation techniques
• complete the first stage of the QuickBooks setup process
• create income and expense accounts
• create inventory and service items
• create and edit customer and supplier details
• enter opening balances
• enter cash sales
• create invoices
• receive and apply customer payments
• pay suppliers accounts
• record the purchase of goods and services
• pay bills
• reconcile QuickBooks with various bank statements
• create and modify reports
• understand how QuickBooks tracks GST
• setup and complete a Business Activity Statement

Audience
This course is designed for people who are keen learn how to use QuickBooks to set up and manage the accounts of a small business.

Prerequisites
This title assumes little or no knowledge of the software. However, it would be beneficial to have a general understanding of personal computers and the Windows operating system environment and the basic bookkeeping principles for a small business.

Contents
Getting Started
• Starting QuickBooks
• The QuickBooks 2010/11 Screen
• Displaying The Centres
• The Menu System
• Working With Menus
• Exiting From QuickBooks

Setting Up In QuickBooks
• Basic Accounting Principles
• Understanding The Company File
• Understanding The EasyStep Interview
• Creating A Company File
• Customising QuickBooks
• QuickBooks Preferences
• Creating An Automatic Backup

Chart of Accounts
• Opening An Existing Company File
• Chart of Accounts Overview
• Numbering The Chart of Accounts
• Creating New Accounts
• Modifying The Chart Of Accounts
• Income and Expense Accounts
• Hiding and Deleting Accounts

Inventory And Service Items
• Creating Service Items
• Creating Inventory Items
• List of Inventory Items
• Verifying Inventory Entries

Customer And Supplier Details
• Customer and Supplier Balances
• Setting Up Customers
• Editing Customer Records
• Customer Details
• Setting Up Suppliers
• Editing Supplier Records

Opening Balances
• The Balance Sheet
• Setting Up A Loan Liabilities Balance
• Setting Up Asset Balances
• Setting Up Equity
• Verifying Balance Sheet Entries

Cash Sales
• Sales and Tax Codes
• Creating Sales Receipts For Services
• Sales Receipts With Customer Messages
• Cash Sales Of Stock
• Entering Cash Sales Of Stock Items
• Credit Card Sales
• Creating A Pending Sale
• Finalising A Pending Sale
• Deleting A Cash Sale
• Verifying Sales Entries
• Modifying The Sales By Customer Detail Report

Invoicing
• Creating An Invoice
• Entering Invoices
• Memorising An Invoice
• Using A Memorised Invoice
• Creating Subtotal And Discount Items
• Applying A Discount
• Applying A Subtotal
• Exceeding Credit Limits
• Batch Printing Invoices

Managing Receivables
• Accounts Receivable Reports
• Receiving Payments
• Applying Out Of Sequence Payments
• Receiving Electronic Payments
• Viewing Customer Balance Details
• Creating Statements

Entering Bills
• Bills and Tax Codes
• Entering A Bill
• Entering Service Bills
• Producing An Unpaid Bills Report
• Creating A Memorised Bill
• Using Memorised Bills
• A Mixed Tax Code Bill
• Deleting A Bill

Purchasing
• Checking Reorder Points
• Creating A Purchase Order
• Purchasing Non-Inventory Items
• Reviewing Inventory Status
• Receiving Inventory & The Bill
• Receiving Inventory Items Only
• Receiving The Bill After The Items

Paying Bills
• Checking For Due Bills
• Making Payments
• Writing Cheques
• Recording On-Line Bill Payments
• Creating Adjustment Notes
• Creating A Cheque Refund

Reconciliations
• Depositing Cash And Cheques
• Merchant Statements
• Depositing Credit Card Payments
• Entering Merchant Service Fees
• Processing Direct Deposits
• The Bank Statement
• Entering Bank Fees
• Entering Interest Earned
• Performing A Bank Reconciliation

Reports
• The Report Centre
• Creating A Profit And Loss Report
• Creating A Balance Sheet Report
• Printing A Report
• Drilling Down
• Customising A Report
• Filtering A Report

QuickBooks And The GST
• Goods and Services Tax (GST)
• Tax Codes In QuickBooks
• Tax Inclusive Transactions
• Calculating GST Liability

Business Activity Statements
• Understanding BAS Requirements
• Configuring The BAS
• Reporting Quarterly GST
• Entering PAYG Tax Withheld Information
• Calculating the PAYG Instalment
• BAS Debits And Credits
• Saving The BAS Report
• Paying Tax
• Tax Refunds

Concluding Remarks