It is very important that before installing QuickBooks for any business that it be set up appropriately for your business informational needs. Most individuals and businesses owners fail to do so, resulting in reports less effective for management decision making.
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QuickBooks accounting software may be a powerful tool for any individual or small business owner; however, it does require some thought prior to set up as well as some knowledge of bookkeeping in its proper use. If set up and used appropriately a small company can save money in year-end clean up by outside accountants. Even more importantly, management can produce accurate monthly operating and cash flow reports.
Students will learn:
1. Fast and easy way to navigate QuickBooks.
2. How to create a company file and how to customize it to suit a business.
3. Customizing the chart of accounts.
4. Setting up customers and vendors.
5. How to create an items list.
6. Working with customer lists.
7. Managing accounts payable (including entering and paying bills)
8. Managing accounts receivable (including selling services and receiving payments)
9. Banking tasks such as transferring funds, reconciliation.
10. Running important reports such as Profit & Loss, Balance Sheet, etc.
Since cash is essential at any individual or small business, it is imperative that bank reconciliations be processed via QuickBooks. All too often, users at small businesses fail to do bank reconciliations in QuickBooks. Once one learns how to process bank reconciliations in this software, then receivables and payables can be cleaned up in the QuickBooks file.
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