Learn the basics of setting up bank feeds and how to construct financial statements using bank feed data.
Read more.Instructor
Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI
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Who this course is for:
- Accountants
- Bookkeepers
- Business owners
What you’ll learn:Â
- How to set up bank feeds
- How to generate bank rules to make data input process faster
- The difference between cash method and accrual method
- How bank feed data can be matched to various data input forms
Requirements:Â
- No prior knowledge is required to take this course
Software version used in the course:
- QuickBooks Desktop 2022
This course is the Sixth in a series of courses covering QuickBooks Desktop Pro 2022 comprehensively.
We will discuss how bank feeds can fit into an accounting system, how to set up bank feeds, and how to construct financial statements using bank feed data.
We will import bank feed data into our QuickBooks system.
The course will add bank feed data to the financial statement, breaking the process into cash increase transactions and cash decrease transactions.
Learners will understand how to generate bank rules to make the data input process faster as time passes, the first month of data input often being the most difficult due to not having prior transactions to refer back to.
As we construct bank feed transactions, we will consider the difference between a cash method and an accrual methodÂ
A cash-based accounting system can be constructed from the bank feed data. When using an accrual system, the bank feed data will more often be used to verify transactions that have been entered independently of the bank feeds.Â
The course will cover how bank feed data can be matched to transactions such as invoices, sales receipt forms, receive payment forms, deposit forms, bills, and checks. The matching of bank feed data to data input forms can help with the bank reconciliation process, as we match up what has been entered into QuickBooks with what has cleared the bank.
Our Promise to You
By the end of this course, you will have learned budgeting with QuickBooks.Â
10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.Â
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Course Curriculum
| Section 1 - Introduction | |||
| 305 Setup New Bank Feed Test Company File | 00:00:00 | ||
| 315 How Do Bank Feeds Fit Into My Accounting System | 00:00:00 | ||
| 320 Setting Up Bank Feeds | 00:00:00 | ||
| Section 2 - Bank Data - Download And Import Into QuickBooks | |||
| 360 Download Bank Feed Transactions From Bank | 00:00:00 | ||
| 364 Import Bank Transactions Into Quickbooks | 00:00:00 | ||
| 365 Bank Feed Center Navigation | 00:00:00 | ||
| Section 3 - Add Bank Feed Transactions For Cash Decreases | |||
| 370 Add Normal Expenses To Books From Bank Feed Limbo And Make Rules | 00:00:00 | ||
| 375 Enter Transaction Purchasing Equipment Using Bank Feeds | 00:00:00 | ||
| 380 Enter Transaction Purchas Of Inventory Using Bank Feeds Overview | 00:00:00 | ||
| 381 Enter Transaction Purchas Of Inventory Using Bank Feeds Perpetual System | 00:00:00 | ||
| 385 Enter Transaction Purchasing Investments Using Bank Feeds | 00:00:00 | ||
| 390 Enter Transaction For Owner Withdrawal Or Personal Payment Using Bank Feeds | 00:00:00 | ||
| Section 4 - Add Bank Feed Transactions For Cash Decreases | |||
| 395 Enter Transaction For Income Deposit For Online Cash-Basis Business Overview | 00:00:00 | ||
| 396 Income From Bank Feeds And Income Categories | 00:00:00 | ||
| 400 Enter Transaction For Owner Deposit Or Loan Deposit Using Bank Feeds | 00:00:00 | ||
| Section 5 - Payroll And Sales Tax Transactions | |||
| 403 Enter Transaction For Payroll Using Bank Feeds | 00:00:00 | ||
| 405 Sales Tax And Bank Feeds | 00:00:00 | ||
| Section 6 - Matching Bank Feed Deposits To Invoice, Sales Receipt, And Deposit | |||
| 440 Bank Feeds Matching Invoice To Deposit | 00:00:00 | ||
| 445 Bank Feeds Matching Receive Payment Form | 00:00:00 | ||
| 447 Bank Feeds Matching Deposit From Customer | 00:00:00 | ||
| 449 Bank Feeds Matching Sales Receipt | 00:00:00 | ||
| Section 7 - Credit Card Bank Feeds | |||
| 460 Bank Feeds Credit Card Data Setup | 00:00:00 | ||
| 465 Credit Card Bank Feed Add Data | 00:00:00 | ||
| 467 Bank Feed To Bank Feed Transaction | 00:00:00 | ||
| 475 Credit Card Reconciliation Month One | 00:00:00 | ||
| 480 Credit Card Reconciliation Month Two | 00:00:00 | ||
| Section 8 - PayPal | |||
| 515 Import PayPal Data | 00:00:00 | ||
| 505 PayPal CSV File | 00:00:00 | ||
| Section 9 - Bank Rules | |||
| 520 PayPal Data Input And Transfer | 00:00:00 | ||
| 660 Bank Rules – Same Customer Different Income Accounts | 00:00:00 | ||
| 665 Bank Rules Same Vendor Filter By Amount | 00:00:00 | ||
| 680 Bank Feeds Add Remaining Transactions And Bank Rules | 00:00:00 | ||
| 685 Bank Reconciliation Bank Feeds First Month | 00:00:00 | ||
| 690 Bank Reconciliation Bank Feeds After First Month | 00:00:00 | ||
| Section 10 - Reports | |||
| 695 Financial Reports Generated From Bank Feeds | 00:00:00 | ||
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