#0300 - QuickBooks Tips & Techniques - Part 1 - The Details (QuickBooks + Management Accounting Training)
4 Critical lists that "drive"
QuickBooks management reports
& what you need to know about them...
To create a fully-functional management accounting system, you should understand not only the basics, but the intricacies and features of the Lists as well. That may sound intimidating, but we at Info Plus make it easy and even fun. (Trust us!) By exploring the capabilities of each List, you'll maximize the value of your QuickBooks software.
The Chart of Accounts – the foundation for your accounting system
- What types of accounts should be used to build a Profit & Loss report?
- What structures and relationships provide the best reports?
- How do we create “collapsed” and “expanded” reports? What are the benefits of each?
- How do we structure our Chart of Accounts to create useful totals and sub-totals?
- What are the pros and cons of summary-style vs. detailed accounts?
- Is there a way to differentiate “non-postable” from “postable” accounts?
- Should we include job-stages in our Chart of Accounts?
- What account types should we use for non-operating income and expense such as interest and taxes?
- Where do we post and track voided checks?
- How do we create and position a new account?
The Item List – creating intelligent “framing” for your QuickBooks system
- How should Items be organized and grouped?
- What special treatments can you add to titles in your Item List?
- What kinds of Items are most useful for the construction industry? Why?
- What's the importance of “two-sided” Items, and when should they be used?
- What types of Items can help with the estimating and invoicing process?
- Should we link Items to cost & income accounts or to WIP & liability accounts?
The Customer: Job List – the cornerstone of job-costing and job-profitability reporting
- How do we add a new customer? A new job?
- Should we use classes in addition to customer:job names when entering transactions?
- What are Customer Types and Job Types?
- How do you keep the Customer:Job list sorted so that reports are “clean”?
- What 3 groups should be consulted regarding customer and job naming formats?
- What should be done with production-related costs that can’t be assigned to a job?
- Is there a way to store notes about a particular customer or job?
The Terms List – establishing accurate due dates and discount dates for invoices and bills
- What are some typical payment terms on invoices and bills, and what do they mean?
- How is the Terms feature used?
- What is the major difference between the two types of terms we can create?
- What choices must we make in setting each Term? How do the answers impact our results?
- What if the underlying information in some of our pre-existing Terms is not correct?
See – Listen – Touch – Ask – Learn ...
You'll see the seminar on your screen, hear the instructor as she guides you through concepts and techniques, and use your keyboard to enter certain keystrokes. Voluntary “Quick Quizzes” are provided at intervals throughout the course, so you know what you've mastered and what you might want to review. As an added bonus, you can email Info Plus with questions about the course material. One of our experts will personally respond to you within 1-2 business days.
Additional training & reference materials included:
When you enroll, you'll receive a file with at least 15-20 pages of class reference materials. Use the handouts during the presentation to take notes, then keep your documents for reference you're working with your own QuickBooks accounting system. You also can access the training module in the future if you want to review it again. $97
If this class looks interesting, be sure to check out QuickBooks Tips & Techniques - Part 2