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What are the learning outcomes of QuickBook courses?

What are the learning outcomes of QuickBook courses?

Learners of QuickBooks will be able to set up and modify the QuickBooks application, comprehend the accounting concepts related to the application, and set up, organise, and use the various courses accessible after completing this QuickBook course. Accounting, inventory, tax filing, Payroll, invoicing, bank account tracking and reconciliation, budgeting, payment processing, expenditure management, and accounts receivable and payable management is all you will learn in the QuickBook course.

Business owners and bookkeepers who provide accounting services to small business clients commonly utilise QuickBooks accounting software. Because the software has so many capabilities and features, attending a QuickBooks course can be a wonderful way to learn how to get the most out of it.

QuickBooks courses are available in on-demand videos and live classroom training from various vendors. Setting up a chart of accounts, invoicing clients, paying bills, and tracking income and spending are all covered in most QuickBooks courses. To learn the best QuickBooks course online or in person, I recommend Future Connect Training Institution.

Who needs to learn the QuickBooks course?

Anyone who needs QuickBooks support to operate their business and bookkeeping or accounting clients who can put on QuickBook should take the QuickBook course. This QuickBooks course offered by Future Connect is best for anyone who wishes to get a job using QuickBooks, enhance their skills, and master cloud software.

Learning outcomes in QuickBooks course

QuickBook credentials are proving their significance in 2022. If you own a business or work with bookkeeping clients, you should take a Quickbooks course since it teaches you the following:

Setting up a company.

The accuracy of setting up your company file is important to the QuickBooks program's overall functionality. Before you begin, double-check your setup information with your CPA or a QuickBooks Pro Advisor.

Financial setting

Accounting software, such as QuickBooks, keeps a wealth of financial data about your business at your fingertips at all times. Financial statements, such as a profit and loss statement, balance sheet, or statement of cash flows, give you information about the health of your business and help you spot problems and opportunities.

Organisation setting

Under the organisation settings, you can prevent sending deposits to QuickBooks and set organisation-related emails.

Supplier credit

To record vendor-issued refunds, create supplier credits in Quickbooks Online. Supplier credit is what it sounds like: a credit given to your organisation by a vendor or supplier. Its goal is to clear the debt incurred due to the refunded transaction. Whether your organisation has received one or a dozen returns from vendors, you can earn supplier credit.

QuickBooks Chart of Accounts

In QuickBooks, the Chart of Accounts (COA) provides the accounts that help categorise assets, owner's equity, liabilities, and revenue. In simple terms, it is a list of its funds and balances.

Invoicing and sales administration

You may regulate sales and income by creating invoices and keeping track of sales per client. An Accounts receivable report contains a list of clients as well as the bills you've generated for them.

Payroll

QuickBooks Payroll Service is a subscription that allows you to access the payroll capabilities of your QuickBooks software. Depending on the features you need, you can select from Basic, Enhanced, or Assisted Payroll.

Payroll administration

The software permits you to pay employees by check or direct deposit, automatically calculates federal and Payroll taxes, and even fills out payroll tax forms for you.

Inventory control

The system updates inventory information and generates multiple reports as you enter transactions, allowing you to keep track of your products' status.

Literacy on the computer

Because QuickBooks is a software programme, prior computer skills will help you learn it faster. Even if you don't plan to deal with software issues, knowing your computer's operating system will help you. You might need to search your hard drive for important files, for example.

Accounting

Depending on the position you're applying for, you'll require a different level of accounting knowledge. A general manager or a payroll clerk, for example, will have more experience than an accountant in the field.

Entering supplier invoices

Is it possible to include our reference number in a supplier invoice? The bill number of the supplier's invoice is listed in a column, but we don't use it as a reference until you pay it. I entered each invoice separately and referenced them when I used Sage, and I'd like to do the same with Quickbooks. It will be simpler when invoices are matched in the banking area.'

Keeping track of bills and expenses

When your company's bank and credit card accounts are linked to QuickBooks, the system automatically maintains track of costs. An Accounts Payable Report will show you which bills need to be paid and when they need to be paid.

Credit note

A credit sheet is a document sent by a supplier to a client to inform them that a credit application has been filed against their account. If you're not sure how to utilise a supplier credit note in QuickBooks Online, Future Connect can show you how.

Customer credit note

If your customer wishes to pay off their current open balance right now, use a credit note. An invoice can be paid with a credit note from a customer. They can use the full credit note or only a portion of it. You can use a credit note to record a customer's invoice.

Recording bank statement transaction

The QuickBooks courses will manually show you how to insert bank transactions in QuickBooks Online. Future Connect will also demonstrate how to enter bank transactions directly into QuickBooks Online's check register, albeit this is not the most convenient method.

Bank Reconciliation

When you reconcile your accounts, you compare two connected accounts to ensure that everything is right and consistent. QuickBooks must be reviewed in the same way a chequebook must be balanced. You should reconcile your QuickBooks bank and credit card accounts regularly to ensure that they match your real-life bank accounts.

Reporting

Built-in reports that you can generate in minutes can help you measure the productivity and stability of your organisation. For example, a Profit and Loss Report summarises the company's profitability, whereas a Balance Sheet Report analyses assets, liabilities, and equity.

Bank Feed

Feeds from the Bank You can connect to your financial institution, download transactions, and use other online services with QuickBooks Desktop's online banking feature. Bank Feeds enable you to swiftly complete bank and credit card transactions, giving you more time to concentrate on other business points.

Journal entries

This QuickBooks course will guide you on how to keep a journal. Journal entries are only used to record transactions as a last resort. Use them only if you are familiar with accounting or if your accountant encourages you to.

Track retail sales

This QuickBooks course will surely teach you how to track retail sales. In the event of an audit, a retailer should keep the following three types of records: A journal for non-cash transactions that affect accounts payable, a journal for cash transactions includes check transactions, sales slips, invoices, receipts, cash register receipts, and other comparable documents for original sales, a journal for cash transactions includes check transactions, sales slips, invoices, receipts, cash register receipts, and other relative documents for actual sales.

VAT return

A VAT Return specifies how much VAT a company should pay or be repaid to HM Revenue and Customs (HMRC).

Month and year-end adjustments

QuickBooks makes year-end adjustments depending on the fiscal year's first month. QuickBooks zeros out your revenue and cost accounts at the end of the year. As a result, you have no net income to start the new fiscal year. QuickBooks creates an adjustment entry for your net income.

Careers in QuickBooks Certification

After completing the QuickBooks training course, you will be qualified to apply for a bookkeeper, Payroll Administrator, Credit Controller, Senior Bookkeeper, Accounts Payable, Accounts Receivable, Billing Clerk, Accounts Assistant, etc. Management Accountant, Junior Accountant, and others.

Conclusion

Small business owners rely on QuickBooks, managers, and bookkeepers to manage their finances and invoices. QuickBooks is a software program that allows you to pay employees by check or direct deposit and automatically collect federal and Payroll taxes. Participants will work in QuickBooks online jobs to gain experience with the software and increase their knowledge. To learn the best QuickBooks training online or in person, I recommend Future Connect Training Institution.

FAQs

Is QuickBooks easy to navigate?

QuickBooks is a simple software to use. QuickBooks is a dependable piece of software for both medium and small enterprises. QuickBooks navigation assists a user in determining where QuickBooks can be used. The user can quickly figure out where he can make invoices and receipts.

What can you do with QuickBooks?

QuickBooks includes accounting, Payroll, inventory, tax filing, invoicing, bank account tracking and reconciliation, budgeting, spending management, payment processing, and account's receivable and payable management.

Can a beginner use QuickBooks?

This Intuit site offers QuickBooks training for both online and desktop software versions for beginners and advanced users. You can also get help with accounting and payroll essentials.