Go beyond the basic introductory concepts and learn how to gain more control and improve productivity while using QuickBooks.
Learning how to use QuickBooks to its full potential, goes far beyond learning the basic features of the program. Even many experienced QuickBooks users often struggle when applying certain business situations to QuickBooks. In this course, you'll learn how to utilize many of the more in-depth features and applications. It is designed for those QuickBooks users that already feel that they have a good grasp on the basics, or those that have successfully completed the Introduction to QuickBooks course. Whether you are a small business owner, bookkeeper or accountant needing a QuickBooks refresher, after taking this course, you'll feel more confident and secure in accounting for your business.
You'll learn how to manage multiple company files and how to export and import list data from one file to the next. If your business handles inventory, you'll learn how to enter price levels and track discounts and credits. You'll even learn how to enter and track mileage that you incur on any vehicles that you use in your business.
This course also covers many other common topics that small business owners encounter, including how to create customer statements and assess finance charges on overdue balances. You will learn how to write-off these past due balances when it appears that the customer is not going to pay.
Lastly, you'll learn how to enter common transactions that occur between the owner and the business, such as when the owner takes money out of the business or invests new capital. You'll even learn how to deal with those difficult situations, where you may pay for a business transaction using personal cash. The course concludes with a discussion of how to track loans and how to use the budgeting feature to better plan and control your business.
- This course must be taken on a PC. Macs are not compatible.
- PC: Windows 8 or later.
- Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge is also compatible.
- Desktop QuickBooks Premier Edition 2018 is recommended for this course (not included in enrollment). Desktop QuickBooks Pro 2018 can be used for this course, but please be aware that there are a few features discussed in the course that are not available in the Pro edition. However, the course lessons have been modified to accommodate Pro version users. This course is not suitable for users of QuickBooks Online or QuickBooks SimpleStart.
- While this course is based on the U.S. version of QuickBooks, users of the Canadian and Australian versions will be supported in the Discussion Areas to the extent possible.
- Software must be installed and fully operational before the course begins.
- Adobe Acrobat Reader.
- Email capabilities and access to a personal email account.
Instructional Material Requirements:
The instructional materials required for this course are included in enrollment and will be available online.This course continues from Introductory to QuickBooks to teach you more advanced concepts and features that are often underutilized when using the program. You will learn how to gain more control, productivity, and value from your overall QuickBooks experience.
Working With Company Files
One of the more challenging aspects of QuickBooks is learning how to manage company files. In this lesson, you'll explore some great features that will allow you to easily work with not just one, but multiple company files. You'll even learn how to export and import list information from other files into a brand new file. Once you have a new file created, you'll learn how to move your file from one computer to another and send your file to your accountant.
Securing Your Company Files
Taking steps to secure your company files is one of the easiest and most effective ways to make sure your file doesn't get mishandled or corrupted in some way. In this lesson, you'll learn how to set a closing date in your file so that no one can enter a transaction in the wrong period. You'll also learn how to create new users and limit these users to only the areas in which they work. Finally, you'll learn how to use the Condense and Verify features in QuickBooks to streamline your file and check to see if it's corrupted.
List Items and Inventory
Lists form the backbone of QuickBooks. In this lesson, you'll explore how to add and edit multiple list items. You'll also learn how to create class items to further categorize transactions. Finally, you'll discover how to enter inventory part items and how to combine these items to build inventory assemblies.
Ordering and Selling Inventory
Tracking inventory in QuickBooks is a multi-step process. In this lesson, you'll learn how to enter and use Sales Orders to keep track of customer orders. You'll go over how to create Purchase Orders that you can either print or email to your vendors to order more inventory when you need it. And to help you keep track of it all, you'll learn how to use the Inventory Center in QuickBooks to quickly view inventory transactions, edit items, and produce some amazing reports.
Vendor Discounts and Credits and Adjusting Inventory
If you work with the same vendors over and over again, you may receive discounts and earn credits. In this lesson, you'll learn how to record these discounts. You'll also learn how to enter and manage vendor credits when they arise. Finally, you'll gain the skills you need to adjust your inventory balance should it get out of sync with your actual in-stock inventory.
Tracking Price Levels and Customer Discounts
Not all customers are created equal. Many businesses charge different prices to different customers for a number of reasons. In this lesson, you'll learn how to create price levels either on a fixed percentage or on an item basis that you can assign to a particular customer. This way, whenever you create an invoice for a customer, QuickBooks automatically remembers the price that you want to charge. You'll also learn how to create discount items that you can use separately to track the total amount of discounts that you grant to your customers, and even how to use discounts to encourage your customers to pay an invoice early.
Tracking Vehicle Mileage
If you ever have to travel by car to a job site or project, you may want to track the vehicle mileage so that you can later deduct it on your tax return. In this lesson, you'll learn how to enter this mileage and the rate the IRS allows for a deduction. You'll also learn how to create some great reports that you can use as support for your tax return. Last, you'll find out how to bill a customer for the mileage you've incurred, even if it's at a different rate than the IRS allows.
Working With Customer Balances
Sometimes you may need to bill a customer without the need to create a full-blown invoice or sales receipt. In this lesson, you'll learn how to create a statement charge directly to a customer's account. You'll also learn how to easily change the price of multiple sales items using QuickBooks' Change Item Prices feature. Last, if a customer is late to pay on an invoice, you'll learn how to assess a finance charge and how to write the balance off the books if the customer ultimately fails to pay.
Batch Invoicing and Creating Letters
In this lesson, you'll learn how to utilize QuickBooks' batch invoicing features to create multiple invoices at the same time to send to any of your customers on your customer list. You'll also learn how to set up billing groups that you can use over and over again to send recurring invoices. In the second half of the lesson, you'll explore how to modify a letter template and then create a form letter that you can send to your customers or vendors. You'll even learn how to create and print envelopes and labels based on your customer or vendor information.
Petty Cash and Gift Cards
Most small businesses carry a small amount of cash on hand to pay for odds and ends. Over time, these small amounts can have a significant impact on your accounting records. In this lesson, you'll learn how you can use QuickBooks to track petty cash amounts. In addition, you're going to learn how to enter the sales of gift cards and certificates. You'll also become proficient in making entries to record when a customer redeems one of these gift cards or certificates.
Owner Transactions and Journal Entries
In this lesson, you'll learn how to record an owner's infusion of capital into the business. You'll also learn how to record transactions where the owner withdraws money from the company's bank account. In addition, you'll examine when and how to use the Make General Journal Entries window to record various entries that don't involve the business bank account, including the times when the owner might use personal funds to pay for a business expense.
Loans and Budgets
In this lesson, you'll learn how to enter a long-term loan in which you use the proceeds of the loan to purchase an asset in your business. You'll then learn how to track this loan using the Loan Manager feature to split apart the principal and interest portions of the loan payment. You'll also dive into the planning and budgeting features built into QuickBooks. By the end of this lesson, you'll see just how easy it is to enter budget data so that you can later evaluate your company's performance using some of QuickBooks' reporting features.
What you will learn
- Learn to manage multiple company files, export and import list data from one file to another, and make journal entries
- Find out how to enter price levels and track discounts and credits
- Learn how to track mileage on vehicles you use in your business
- Understand how to create customer statements, assess finance charges on overdue balances, create multiple invoices, and write off past due balances
- Learn how to enter common owner transactions
- Understand how to track loans and use the budgeting feature
How you will benefit
- Become more confident and secure in accounting for your business
- Open the door to additional career opportunities as you accurately learn how to use all the features of QuickBooks
- Master the use of QuickBooks for your personal business
Scott Paxton is a Certified Public Accountant and holds master's degrees in business administration and accounting. His background includes experience as a public accountant, a manager in the banking industry, an entrepreneur and a college business instructor. Paxton has also spent much of his career helping small business owners successfully implement and troubleshoot QuickBooks.