QuickBooks Pro Essential Training: Part 10 of 10
Setting up QuickBooks Essential PreferencesIn the Easy Step Interview QuickBooks asks us a series of questions that allow part of the features to be turned on that would best be utilized by our business. During that time you may or may not have been sure of the answers to your questions. Either A, you turned features on that you really don't need or B, you didn't turn on the features that you really do need. ...Read More »
QuickBooks Pro Essential Training: Part 9 of 10
Using the Navigation and Icon barsWe're going to be defaulting a lot to referencing to the dropdown menus and the Navigation bar as far as directing you where to find all of these different functions within the software. So let's cover that first before we get involved in all the other aspects. ...Read More »
QuickBooks Pro Essential Training: Part 8 of 10
Using the home pageQuickBooks provides you with some quick easy references and this workflow that kind of shows you here's kind of where you start and here's where you get to the end. ...Read More »
QuickBooks Pro Essential Training: Part 7 of 10
Customizing QuickBooks for your businessCustomizing QuickBooks for your business needs: We're going to go through a series of questions and at the end we'll have a program that's set up and tailored to our business needs by selecting features that QuickBooks feels will best serve us. ...Read More »
QuickBooks Pro Essential Training: Part 6 of 10
Differentiating accrual from cash-based accountingAccrual-based accounting is the recognition of revenues and expenses based on receipt of products and services rather than payment. In accrual-based accounting you have not earned the revenue until the customer has received their product or service just as you have not incurred the expense until you have received the products or services you purchased. ...Read More »
QuickBooks Pro Essential Training: Part 5 of 10
Using double-entry accountingIn double entry accounting there are two entries made to the transaction instead of one. Unlike single entry counting, double entry accounting shows us not only where the money is going but also where it came from. ...Read More »
QuickBooks Pro Essential Training: Part 4 of 10
Using a balance sheetLike the income statement the balance sheet is one of the most important financial reports an accounting system produces. The balance sheet summarizes your company's current value or net worth or at any given point in time. ...Read More »
QuickBooks Pro Essential Training: Part 3 of 10
Understanding the cost of goods soldThe income statement also contains cost of goods sold. The cost of goods sold is a figure reflecting the cost of the product or service that your business sells to generate revenue. ...Read More »
QuickBooks Pro Essential Training: Part 2 of 10
Creating an income statementOne of the most important financial reports an accounting system produces is the income statement, which is also known as a profit and loss statement. The income statement summarizes a company's revenue and expense for a specific period of time and will let you know if your company is making or losing money. ...Read More »
QuickBooks Pro Essential Training: Part 1 of 10
Understanding the big pictureBefore you begin using an accounting program like QuickBooks, you should understand the basic function of it. An accounting system is nothing more than a way to organize financial information. Yep, that's it. ...Read More »
