Course Description

This class will take the user through the process of setting up the Quickbooks accounting software.  It will be based on using Quickbooks Pro even though no time will be spent on it‘s extra features like Estimating and Time Billing.  A good portion of time will cover all of the setup options for your books with a strong focus on the setting up of the General Ledger accounts and the opening balances. 

Course Objectives

Ø      The student will be better abled to take their own accounting data and create their own company books in Quickbooks after this course.

Ø      The course will provide information about the many features available in Quickbooks and give ample information about the different list files and what the will track.  This will allow the user to make a more informed decision about which parts of Quickbooks they could start to use.

Ø      Find out about the importance of the Start Date and the Opening balances processes in Quickbooks.  Being able to start of with a balanced set of books is so important to the confidence and continued use of the Quickbooks.

Ø      Preparing the bank accounts for reconciliation is another thing that becomes part of the setup.  This course will help you to work through setting up an account properly for bank reconciliation.

Table of Contents

I  Introduction

II  QuickBooks Windows Interface

1. The QuickBooks Screen

2. Moving around QuickBooks Accounting

3. Using QuickBooks Help

4. Moving in Dialogue Boxes – Tab vs. Enter Key

III  Creating a New Company’s Books

1. Use an Empty File Structure or Select Template Files

2. Information Needed to Get Started

3. The QuickBooks EasyStep Interview

IV    QuickBooks Lists

1. What are Lists used for?

2. What are the Different Lists in QuickBooks?

V     The Chart of Accounts List

1. A Good Start is the Key

2. Printing the Chart of Accounts

3. Understanding Subaccounts

4. Understanding Account Types

5. What about using Account Numbers?

6. Setting Up the GL Chart of Accounts

VI      Customers & Vendors Lists

1. Adding a Customer

2. Adding a Vendor

VII     Items List

1. Understanding the Purpose of the Item List

2. What are the Different Item Types

3. Creating and Modifying the Items List

VIII   Tax Codes List

IX     Classes & Job Types

1. Classes

2. Job Types

X     Opening Balances

1. Understanding Opening Balances

2. Entering General Ledger Account Balances

3. Preparing Bank Accounts for Outstanding Cheques

4. Entering Opening Balances for Taxes Payable

5. Entering Accounts Receivable Opening Balances

6. Entering Accounts Payable Opening Balances

7. How to Ensure the Opening Balances are Correct

XI         Setting Up the Bank Reconciliation