Transactional Accounting with Quickbooks
About This Course
The Transactional Accounting with QuickBooks Online course is designed to provide learners with advanced skills in managing financial transactions using QuickBooks Online, a leading accounting software. Participants will gain a thorough understanding of transactional accounting, including double-entry accounting principles, and how to apply them in a cloud-based environment. The course covers how to produce accurate financial statements and reports, enabling learners to effectively track business performance. Additionally, the course explores the impact of accounting standards on financial information, ensuring that learners can interpret and comply with industry regulations while maintaining financial integrity.
QuickBooks Online offers powerful tools for managing finances and producing critical business reports, making it essential for accounting professionals. This course is highly relevant for small business owners, accountants, and financial managers who need to enhance their accounting skills and leverage technology for financial accuracy and efficiency. By mastering QuickBooks Online, learners will be able to streamline their accounting processes and produce reliable financial reports in compliance with accounting standards.
This course is ideal for intermediate to advanced learners who are already familiar with basic accounting principles and want to deepen their knowledge of transactional accounting and financial reporting using QuickBooks Online.
What You'll Learn
LO1 - Learners will be able to perform transactional accounting and double-entry accounting.
LO2 - Learners will be able to produce accurate financial statements using accounting principles and standards.
LO3 - Learners will be able to evaluate financial data and reporting standards to determine their impact on financial information quality.
Course Outline:
LU1: Transactional Accounting
T1: What is double entry accounting? (K1)
T2: Work with the charts of accounts (A1)
T3: Create bank accounts and credit cards (A1)
T4: Setup sales tax (A1)
T5: Create inventory and non-inventory products (A1)
T6: Setup customers, suppliers, employees (A1)
T7: Create projects (A1)
T8: Day to day operations (A1)
T9: Enter timesheets (A1)
T10: View reminders for overdue invoices (A1)
T11: Send statements to customers (A1)
T12: Record Depreciation and Inventory Adjustment (A1)
T13: Setup bank rules (A1)
T14: Reconcile bank accounts (A1)
T15:Handle special cases (A1)
T16: Issue refunds (A1)
T17: Handle customer credits (A1)
T18: Automate recurring transactions (A1)
LU2: Accounting Principles and Standards
T1: Review financial info in the dashboard
T2: Use tags to categorise your finances
T3: Analyze management reports
T4: Customize and memorize reports
T5: Impact of financial standards on financial statements
LU3:Organisation Financial Reporting
T1: Overview of accounting principles and GAAP
T2: The accrual principle
T3: Run financial reports
T4: Pay sales tax
T5: Record depreciation
Entry Requirements
Knowledge and Skills
• Able to operate computer functions with minimum Computer Literacy Level 2 based on ICAS Computer Skills Assessment Framework
• Minimum 3 GCE ‘O’ Levels Passes including English or WPL Level 5 (Average of Reading, Listening, Speaking & Writing Scores)
Attitude
• Positive Learning Attitude
• Enthusiastic Learner
Experience
• Minimum of 1 year of working experience.
• Minimum 18 years old