This course is designed for those interested to learn the basics of QuickBooks bank feeds, how to use them, what types of businesses can use bank feeds, and common problem areas and proposed solution systems.
Read more.Instructor
Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI
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Who this course is for:
- Business owners who want an easy system to track data
- Bookkeepers who want to understand how bank feeds work
- Students who want to apply theory to practical accounting software
What you’ll learn:Â
- How to set up bank feeds for both bank accounts and credit card accounts
- How to set up QuickBooks Online and get up and running
- How to add transactions and assign proper general ledger accounts to them
- How to do bank reconciliations
- Understand the difference between a bank reconciliation when using a cash basis and accrual basis
- Generate reports and analyze reports after data has been entered using bank feeds
- Record transactions from two accounts that use bank feeds like a credit card account and a bank account
- How to create different kinds of bank feed rules to make data input even faster
Requirements:Â
- No prior knowledge is required to take this courseÂ
Software version used in the course:
- QuickBooks Online 2020
This course will jump right into bank feeds and how to use them. Most QuickBooks courses will spend a lot of time talking about how a full-service accounting system works using QuickBooks. We do recommend spending time learning the full accounting process, and we do have a course that does this.
However, many small businesses want to get right down to data input as fast as possible, and others already have a good understanding of the system and want to focus specifically on bank feeds. This course will do just that.
For example, some small businesses may be perfectly happy using a cash basis system and will, therefore, not need some of the functions used in a full accounting cycle. Businesses that use a cash basis model can structure their data input to be much more heavily dependent on the bank and bank feed data.
We will discuss types of businesses that fit well into a cash basis model as we work through the practice problems. We will also discuss some problem areas many businesses have and how to set up a system that works.
This course will work through a practice problem and will provide test data that learners can use in their system to follow along if they choose. One obstacle to learning bank feeds is access to a clean QuickBooks file to practice with. Here are some options you can use along with this course:
- Intuit, the owner of QuickBooks, provides a free test drive available to anybody. You can find it by searching QuickBooks Test Drive in your favorite browser.
- Intuit often provides a 30-day discount period. You can use the 30 days to practice by starting the 30-day trial, practicing with the data we provide in the course, and then canceling after the 30 days.
- Intuit also provides discounts or a free version for students and educators.
- Check with your accountant or certified public accountant firm, and they may be able to provide a discount on QuickBooks Online.
Our Promise to You
By the end of this course, you will have learned about bank feeds.
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.
Get started today and learn more about how to do bank feeds.
Course Curriculum
| Section 1 - Introduction | |||
| Quickbooks Online – Bank Feeds And Credit Card Feeds | 00:00:00 | ||
| How Do Bank Feeds Fit Into My Accounting System | 00:00:00 | ||
| Downloadable Materials | 00:00:00 | ||
| Section 2 - Getting Set Up | |||
| Getting Set Up | 00:00:00 | ||
| Recommendations For Success | 00:00:00 | ||
| Purchase With 30-Day Trial | 00:00:00 | ||
| Project Outline | 00:00:00 | ||
| Section 3 - Month One - Set Up Bank Feeds | |||
| Month One – Set Up Bank Feeds | 00:00:00 | ||
| Set Up Bank Feeds | 00:00:00 | ||
| Download Transactions From Bank | 00:00:00 | ||
| Import Bank Data | 00:00:00 | ||
| Section 4 - Month One - Add Transactions From Bank Feeds | |||
| Add Transactions From Bank Feeds | 00:00:00 | ||
| Add Expense Transactions | 00:00:00 | ||
| Add Capital Expenditures | 00:00:00 | ||
| Add Inventory Purchase | 00:00:00 | ||
| Add Amount Paid For Investment | 00:00:00 | ||
| Add Owner Withdraws | 00:00:00 | ||
| Add Bank Service Charge | 00:00:00 | ||
| Add Customer Deposits | 00:00:00 | ||
| One Deposit Owner | 00:00:00 | ||
| Sales Tax | 00:00:00 | ||
| Deposit Loan | 00:00:00 | ||
| Section 5 - Month One - Bank Reconciliation | |||
| Bank Reconciliation | 00:00:00 | ||
| Section 6 - Compare Cash Basis To Accrual Basis Using Bank Feeds | |||
| Compare Cash To Accrual | 00:00:00 | ||
| Section 7 - Month Two - Upload Bank Transactions | |||
| Month Two – Upload Bank Transactions | 00:00:00 | ||
| Upload Bank Transactions | 00:00:00 | ||
| Section 8 - Add Transactions From Bank Feeds | |||
| Month Two – Add Transactions From Bank Feeds | 00:00:00 | ||
| Add Insurance | 00:00:00 | ||
| Add Expenses | 00:00:00 | ||
| Add Payroll Checks | 00:00:00 | ||
| Add Loan Payments | 00:00:00 | ||
| Add Inventory Purchase | 00:00:00 | ||
| Add Draw | 00:00:00 | ||
| Invoice And Bank Feeds | 00:00:00 | ||
| Receive Payments And Bank Feeds | 00:00:00 | ||
| Sales Receipt And Bank Feeds | 00:00:00 | ||
| Section 9 - Month Two - Bank Reconciliation | |||
| Month Two – Bank Reconciliation | 00:00:00 | ||
| Bank Reconciliation | 00:00:00 | ||
| Section 10 - Month Two - Analyze Reports | |||
| Month Two – Analyze Reports | 00:00:00 | ||
| Reports After Second Month | 00:00:00 | ||
| Section 11 - Credit Card Bank Feeds | |||
| Credit Card Bank Feeds | 00:00:00 | ||
| Credit Card Bank Feeds Upload | 00:00:00 | ||
| Add Credit Card Bank Feed Data | 00:00:00 | ||
| Reconcile Credit Card | 00:00:00 | ||
| Section 12 - Bank Feed Rules | |||
| Bank Feed Rules | 00:00:00 | ||
| Upload Bank Transactions | 00:00:00 | ||
| Bank Rules Deposit Same Customer Different Account | 00:00:00 | ||
| Bank Rules Amount Limit | 00:00:00 | ||
| Bank Rules Split Into Two Accounts | 00:00:00 | ||
| Bank Rules One Vendor Two Expense Accounts | 00:00:00 | ||
| Bank Rules More Rules And Techniques | 00:00:00 | ||
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