Advanced Transactional Accounting with Quickbooks Online
About This Course
Boost your accounting proficiency with our WSQ Advanced Transactional Accounting with Quickbooks Online course. Aimed at professionals and business owners, this course provides in-depth coverage of advanced accounting topics like account reconciliation, detailed financial reporting, and efficient bookkeeping. You'll gain hands-on experience using Quickbooks Online to manage complex transactions, generate financial statements, and maintain accurate records, setting you on the path to become an accounting expert.
Expand your accounting toolkit with the latest techniques and best practices in transactional accounting. The course explores vital topics including accounts payable and receivable, inventory tracking, and tax planning using Quickbooks Online. Whether you're an accountant, financial analyst, or business owner, this course equips you with the skills to optimize financial operations, enhance data accuracy, and improve financial decision-making, thereby contributing to business success.
What You'll Learn
- able to perform transactional accounting and double-entry accounting.
- able to produce accurate financial statements and reports.
- able to determine the impact of accounting standards on financial information.
Course Outline:
Topic 1 Transactional Accounting
What is double entry accounting?
Work with the charts of accounts
Create bank accounts and credit cards
Setup sales tax
Create inventory and non-inventory products
Setup customers, suppliers, employees
Create projects
Day to day operations
Enter timesheets
View reminders for overdue invoices
Send statements to customers
Record Depreciation and Inventory Adjustment
Setup bank rules
Reconcile bank accounts
Handle special cases
Issue refunds
Handle customer credits
Automate recurring transactions
Topic 2 Financial Reporting
Review financial info in the dashboard
Use tags to categorise your finances
Run financial reports
Pay sale tax
Record deprecation
Analyze management reports
Customize and memorize reports
Topic 3 Accounting Principles and Standards
Overview of accounting principles and GAAP
The accrual principle
Impact of financial standards on financial statements
Entry Requirements
Knowledge and Skills
• Able to operate using computer functions
• Able to operate using computer functions
• Minimum 3 GCE ‘O’ Levels Passes including English or WPL Level 5 (Average of Reading, Listening, Speaking & Writing Scores)
Attitude
• Positive Learning Attitude
• Enthusiastic Learner
Experience
• Minimum of 1 year of working experience