Who this course is for:

• Accountants
• Bookkeepers
• Business owners

What you’ll learn: 

• Building of an accounting system and entering two months of data input into it
• The difference in complexity of entering data for the first month of operations, a time when we have no historical data to help us, and entering data in following months, a time when we do have prior history and transactions to help simplify the process

Requirements: 

• No prior knowledge is required to take this course

Software version used in the course:

• QuickBooks Online and Desktop 2022

This course will discuss the building of an accounting system and entering two months of data input into it. We will compare the process using an accounting system in QuickBooks Desktop, QuickBooks Online, and an accounting system using Excel. Because Excel is a much more transparent tool, it will provide us a much better understanding of the workings of QuickBooks.

QuickBooks Desktop and Online components of the course

We will create a new company file and populate it with two months of data input.

The data input will cover every significant form in each operating cycle, including the revenue cycle, the payables cycle, and the payroll cycle. The primary operating cycles are also commonly grouped as the customer, vendor, and employee cycle.

As we enter financial transactions, populating forms, we will analyze the impact on the financial statement and related reports.

Entering two months of data will allow us to see the difference in complexity of entering data for the first month of operations, a time when we have no historical data to help us, and entering data in following months, a time when we do have prior history and transactions to help simplify the process.

Excel components of the course

In this course, we will create an accounting system starting from a blank Excel worksheet and add beginning balances to our accounts.

Learners will learn how to navigate Microsoft Excel as well as how to create a well-designed accounting worksheet, complete with a general journal, trial balance, general ledger, and subsidiary ledgers for accounts receivable, accounts payable, and inventory.

Excel is a very good tool to learn accounting because it is much more transparent than a database program, like accounting software, QuickBooks being a common example of accounting software.

For most new steps in the process, you will have access to a downloadable Excel Workbook, containing at least two tabs, one with the answer, the new steps being completed, the other starting out where the prior presentation left off.

Once our accounting system using an Excel worksheet is set up, we will add journal entries to enter beginning balances to our accounts, imagining we are moving from a prior accounting system to our new Excel worksheet system.

When adding the beginning inventory balance to the chart of accounts, we will also add an inventory subsidiary ledger, reporting inventory by item and unit, as well as by cost.

As we add the beginning accounts receivable balance to the chart of accounts, we will also add the accounts receivable subsidiary ledger, showing the money owed to the company by the customer.

And when we add the accounts payable balance to the chart of accounts, we will add the accounts payable subsidiary ledger, reporting the money owed by the company to vendors.

Our Promise to You

By the end of this course, you will have learned how to enter two months of data input into an accounting system. 

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. 

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