Accounting   

Gain a marketable new skill by learning the basics of double-entry bookkeeping, financial reporting, and more.

In this comprehensive course, you will learn the basics of double-entry bookkeeping, as well as how to analyze and record financial transactions. You will get hands-on experience with handling accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities.

Accounting Fundamentals covers all the bases, from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period. Whether you're a sole proprietor looking to manage your business finances or you simply want to gain an understanding of accounting basics for career advancement or for personal use, this course will give you a solid foundation in financial matters.

Requirements:

Hardware Requirements:

• This course can be taken on either a PC, Mac, or Chromebook.

Software Requirements:

• PC: Windows 8 or later.
• Mac: macOS 10.6 or later.
• Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
• Adobe Acrobat Reader.
• Software must be installed and fully operational before the course begins.

Other:

• Email capabilities and access to a personal email account.
• A calculator and a printer.

Instructional Material Requirements:

The instructional materials required for this course are included in enrollment and will be available online.

Account Classifications, Account Titles, T Accounts, and the Accounting Equation

Welcome to Accounting Fundamentals! In this first lesson, you will learn all about account classifications, debits, credits, and T accounts. You will learn the difference between a liability and an asset, and you will find out how to determine an owner's equity.

General Ledger Accounts and the Balance Sheet

Here's where you will begin your hands-on accounting practice: You will start by creating an imaginary company for which you will be the accountant. You will learn how to analyze your company's transactions to determine which amounts go into which accounts, then you will create your company's own General Ledger forms and post a few transactions into those accounts.

Journalizing Transactions and Posting to the General Ledger

Now that you understand the functions of the General Ledger, you're ready to move on to the next phase of recording transactions: the Journal. In this lesson, you will learn how to enter transactions into an 11-column journal and then post or transfer those amounts into appropriate General Ledger accounts.

Journalizing and Posting Cash and Charge Purchases and Payments on Account

In this lesson, you will learn all about Accounts Payable, which is money that you owe your vendors and suppliers. You will practice journalizing cash purchases and purchases on account, and you will get hands-on practice transferring those purchases to their corresponding Accounts Payable Ledger accounts.

Journalizing and Posting Cash and Charge Sales and Cash Received on Account

In this lesson, you will learn about Accounts Receivable, which is another name for money owed to your company by its customers. You will learn how to journalize and post those sales on account, how to enter charge sales into the journal, and how to transfer the information into an Accounts Receivable Ledger.

Payroll and Various Deductions

It's payday! This lesson will teach you how to determine gross pay, deductions, and net pay. You will learn how to prepare a payroll, write payroll checks, and how to prepare and maintain accurate payroll records.

Banking Services and Reports

In this lesson, you will learn all about banks and banking services: You will learn the proper way to write checks, make out deposit tickets, and reconcile your company's checking account with the bank statement. These are important skills you will find valuable in both your business and personal life!

Posting Journal Totals to the General Ledger and Schedule of Accounts Payable and Schedule of Accounts Receivable

This lesson will teach you how to prepare a Schedule of Accounts Payable and a Schedule of Accounts Receivable. These reports can be used to compare the amount of money your business owes its creditors with the amount of money your customers owe your business.

End-of-Year Worksheet

In this lesson, you will prepare a worksheet showing the net income or net loss for the fiscal period. The worksheet will show all income and expenses for the fiscal period as well as the assets, liabilities, and owner's equity account balances.

End-of-Year Financial Reports

In this lesson, you will learn how to prepare various reports that are vital to the well-being of your company. You will learn how these reports can be used to make sound financial decisions in the next fiscal period. You will discover how to put together an Owner's Equity Statement, an Income Statement, and a Distribution of Net Income.

Journalizing and Posting Adjusting Entries

In this lesson, you will prepare for the end of the fiscal period by adjusting your asset account balances to accurately reflect the assets remaining at the end of the year. You will also find out how to journalize and post adjusting and closing entries to bring your company's General Ledger up to date.

Journalizing and Posting Closing Entries and Preparing a Post Closing Trial Balance

In the final lesson, you will prepare a Post Closing Trial Balance report to ensure that all of your debits and credits in the General Ledger balance out in preparation for the new fiscal period.

Give yourself skills that are in high demand by exploring corporate accounting.

While it is true that accounting professionals are scarce, those with corporate accounting experience are even scarcer. This course will provide you with a solid understanding of corporate accounting practices.

In Accounting Fundamentals II, you will explore such topics as special journals, uncollectible accounts receivable, plant assets, depreciation, notes and interest, accrued revenue and expenses, dividends, retained earnings, and various financial reports for corporations.

If you're interested in increasing your financial awareness and accountability while also gaining a marketable skill, this is the course for you.

Requirements:

Hardware Requirements:

• This course can be taken on either a PC, Mac, or Chromebook.

Software Requirements:

• PC: Windows 8 or later.
• Mac: macOS 10.6 or later.
• Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
• Adobe Acrobat Reader.
• Software must be installed and fully operational before the course begins.

Other:

• Email capabilities and access to a personal email account.
• A calculator and a printer.

Accounts Payable

In this lesson, you will learn all about accounts payable. You will be journalizing and posting your company's purchases and preparing a Schedule of Accounts Payable. This lesson will give you the tools you need to successfully track those accounts.

Accounts Receivable

In this lesson you will take a close look at accounts receivable. After completing this lesson, you will know how to enter charge sales into your Sales Journal and then post them to your General Ledger. You will have also learned how to journalize payments on account received from your charge customers.

Uncollectible Accounts Receivable

In this lesson you will learn about uncollectible accounts receivable. While many believe customers will always pay what they owe, that is not always the case. You will learn how to account for long overdue receivables that probably won't ever be paid.

Plant Assets and Depreciation

In this lesson, you will learn about plant assets and depreciation. Just like your car, business assets depreciate over time, so you will need to know how to account for that expense in your records. You will also need to record these assets and calculate their depreciation in a timely manner.

Notes Payable and Notes Receivable

This lesson is all about notes payable and notes receivable. You will learn all you need to know about accounting for these situations as you learn how to record the issuance and payment of these notes payables and notes receivables.

Accrued Income and Accrued Expenses

In this lesson, you will learn how to deal with accrued income and accrued expenses. Accrued income is money that the company earns in one fiscal period but doesn't receive until after another fiscal period begins.

Dividends and Starting the Year-End Worksheet

In this lesson, you will be dealing with dividends, which is money paid to the company's stockholders on their investment. You will learn how the business accounts for the dividends it pays to its stockholders. You will also look at retained earnings, or the amount of profit the corporation retains for future use.

Complete Year-End Worksheet with Adjustments

In this lesson you will determine if your business has a net income or a net loss by completing the worksheet started in the previous lesson. And because many General Ledger accounts change throughout the fiscal period—you will need to bring these accounts up to date.

End-of-Fiscal-Period Financial Reports

It's time to begin wrapping up your books for the end of the fiscal period. In this lesson, you will learn how to compile most of the various financial reports a corporation needs to complete at the end of the fiscal period.

Adjusting and Closing Entries and Post Closing Trial Balance

In this lesson, you will get the books all caught up and ready for the next fiscal period. You will go back and journalize those adjusting entries you entered into your worksheet, then you will enter closing entries into your journal.

Preparing a Payroll

This lesson covers every employee's favorite subject: Payroll. You will learn about various mandatory and voluntary deductions from employees' pay, as well as how to journalize and post an entire payroll. As an added bonus, after this lesson, you will be able to check the accuracy of your own paycheck.

Preparing Federal Tax Deposits and Year-End Tax Reports

The final lesson focuses on preparing a variety of end-of-year tax reports. Here's your chance to go step-by-step through a multitude of IRS forms with instructions that are much easier to understand. You will fill out the federal Form 941, then learn how to make federal income tax deposits.

Learn to manage the financial aspects of your business using the cloud-based QuickBooks Online software.

Learn to manage the financial aspects of your small business quickly and efficiently using QuickBooks Online. With this online version, you get all the advantages of computing in the cloud, so that your accounting files will be available to you virtually anytime, anywhere. This course dives deeper into the software's intermediate features —from tracking product and service items and managing inventory to customizing sales forms.

Requirements:

Hardware Requirements:

• This course can be taken on either a PC or Mac.

Software Requirements:

• PC: Windows 8 or later.
• Mac: macOS 10.6 or later.
• Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
• When your course starts, you will be directed to access and utilize the free QuickBooks Online practice site to complete the lesson and assignment steps. You do not need to purchase a subscription or additional software to complete this course. However, please note that this course is suitable only for the QuickBooks Online version. The desktop versions of QuickBooks are not compatible with this course and should not be used. If you have the desktop version, you should consider registering for the course specifically designed for your version.
• Note: This course is based on the U.S. version of QuickBooks. Other locations are not supported.
• Adobe Acrobat Reader.
• Software must be installed and fully operational before the course begins.

Other:

• 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.

Managing Setting, Users, and Accountants

In this first lesson, you'll get started in the practice sample company and activate your free subscription. You'll also learn the various ways to manage and access your QuickBooks company files and how to set up user permissions so that your file remains secure.

Product and Service Items

Without a doubt, inventory tracking is usually one of the more difficult areas for most businesses to track. In this lesson, you'll learn how QuickBooks Online (QBO) tracks the purchase and sale of inventory items. We'll dive much deeper into some of the more advanced inventory features, such as using product categories, bundles, and price rules.

Managing Inventory

Inventory is one of those assets that is frequently mishandled and even stolen. Regardless of what accounting system you use to track inventory, it's imperative that you build in some solid internal controls surrounding the flow of inventory into and out of your business. In this lesson, you'll learn how to record inventory purchases, receipts, credits, payments, and refunds. You'll also learn how to adjust inventory quantities on-hand should your accounting balance get out of synch with your actual inventory count.

Customizing Sales Forms and Tracking Classes and Locations.

In this lesson, you'll learn how to customize your sales forms to give them a more professional look. You'll also learn how to utilize the class and locations feature when entering transactions. These features are optional but can be used to provide an extra layer of detail to your entry tracking and reporting.

Managing Projects and Sales

Some companies like to track not just overall profitability but also the profitability of a particular job, project, or customer. QuickBooks, has a Projects feature to track this information. In this lesson, you'll learn how to create and track the profitability of a project in QuickBooks.

Progress Invoicing and Bad Debts

When it comes time to invoice your customers, there's no "one size fits all" approach. Some companies can avoid invoicing entirely, while other situations may warrant a lengthier invoicing procedure. In this lesson, we'll enter the world of progress invoicing. You'll see how progress invoicing is used in conjunction with the project tracking that was introduced in the last lesson. In addition to progress invoicing, this lesson is going to dive into the difficult topic of recording bad debts.

Payroll and Gift Cards

In this lesson, you'll learn what QuickBooks' capabilities are to process payroll. Intuit, the maker of QuickBooks, charges additional subscription fees to fully take advantage of processing payroll using the program. You'll also learn how to record the sale and redemption of gift cards in your business.

Fixed Assets and Loans

In this lesson, you'll practice with recording both new and existing fixed asset balances. Since fixed asset balances are often large in nature, such as the purchase of a building, equipment, or a delivery truck, businesses may acquire a loan to assist in the purchase. You'll learn how to enter these loan balances, any related down payment amounts, and payments on these loans when the time comes.

Business Entities and Owner Transactions.

In this lesson, you'll learn a bit more about different business entities and how those differences impact the way you'll set up and interact with QuickBooks Online. This lesson will also cover those seemingly frequent situations where the owner of a business mixes business and personal funds or invests or draws funds directly to or from the business.

Banking Rules and Budgets

In this lesson, you'll learn how to create bank rules that will help you streamline the reconciliation process. You'll also learn how you can enter a forecasted budget for your business and how to generate some great reports that will allow you to evaluate your actual business performance against your planned budget information.

Multiple Currencies and Vehicle Mileage

In this lesson, you'll explore how QuickBooks handles receipts and payments in a foreign currency. You may or may not end up using this feature on a daily basis, but with the rise of online commerce, even many small businesses are selling their products (and sometimes services) internationally. You'll also learn how to track and record vehicle mileage for your company vehicle or vehicles. For some businesses, mileage tracking can get a little tedious, but it's a necessary task as you can usually convert the cost of these miles and use it as a tax deduction at the end of the year.

Adjusting and Reviewing the Books

In our final lesson, you'll learn how to finalize your numbers at the end of each month (or year) and how best to evaluate your business performance. If you're new to accounting, you'll get an overview of the accounting cycle. You'll learn more about what steps in the cycle you are responsible for and which steps the system will handle for you. Then, you'll learn some tips on how to identify some common problems that may occur in your day-to-day bookkeeping and how best to resolve these problems. You'll also learn what it means to adjust and close the books at month-end and how to create those critical Financial Statements.

Learn to use QuickBooks Online to record income and expenses; enter checks and credit card payments; track your payables, inventory, and receivables; and much more.

In this self-paced online course, you will learn to manage the financial aspects of your business quickly and efficiently with QuickBooks Online. This powerful accounting software program has helped millions of small business owners oversee their finances.

You will learn to use key features of QuickBooks Online and gain hands-on experience creating invoices, receipts, and statements; tracking payables, inventory, and receivables; generating reports; and more. Whether you're new to QuickBooks or need a quick refresher, this course will empower you to take control of your business's financial accounting, all with the ease and convenience of an online platform.

Requirements:

Hardware Requirements:

• This course can be taken on either a PC or Mac.

Software Requirements:

• PC: Windows 10 or later.
• Mac: macOS 10.11 or later.
• Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
• When your course starts, you will be directed to access and utilize the free QuickBooks Online practice site to complete the lesson and assignment steps. You do not need to purchase a subscription or additional software to complete this course. However, please note that this course is suitable only for the QuickBooks Online version. The desktop versions of QuickBooks are not compatible with this course and should not be used. If you have the desktop version, you should consider registering for the course specifically designed for your version.
• Note: This course is based on the U.S. version of QuickBooks. Other locations are not supported.
• Adobe Acrobat Reader.
• Software must be installed and fully operational before the course begins.

Other:

• Email capabilities and access to a personal email account.

1. Getting Started
2. Accounting Basics
3. The Chart of Accounts
4. Centers and Lists
5. Bank Accounts
6. Recording Expenses
7. Paying Bills
8. Credit Cards and Loans
9. Recording Income
10. Invoices and Estimates
11. Billable Expenses and Customer Credits
12. Sales Taxes and Reports