QuickBooks Level  2004/2005 Level 2

Prerequisites:

Students should have taken QuickBooks Pro 2004/2005 – Level 1 or have equivalent experience.

Course Content:

• Creating a New Company Data File

• -    Using the EasyStep Interview

• -    Company Info   

• -    Preferences     

• -    Start Date         

• -    Income & Expenses          

• -    Income Details  

• -    Opening Balances            

• Adding Accounts to the General Ledger

• Entering G/L Account Opening Balances

• Entering Customer Opening Balances

• Entering Vendor Opening Balances

• Entering Inventory Opening Balances

• QuickBooks Preferences

• Bank Account Reconciliation   

• Downloading and Importing Online Statements

• Set Up for Sales on Credit/Debit Card

• Entering Customer Sales on Credit Card

• Reconciling the Credit Card Account for Sales

• Creating & Setting Up Credit Cards for Purchases

• Enter Vendor Purchases on Credit Card

• Reconciling the Credit Card Account for Purchases

• Adding Passwords and Security                           

• Logging In as the System Administrator

• -    Adding a User  

• -    Changing or Deleting a User’s Password

• -    Deleting a User 

• -    Removing Security Options from the Data File

• Budgeting                   

• -    Creating a Budget

• -    Reporting Against the Budget

• -    Updating the Budget

• Handling Accounting by Class

• -    Activating the Class Feature

• -    Creating Classes

• -    Allocating Expenses and Revenues

• -    Reporting on Performance by Class

• Managing Inventory

• -    Generate Inventory Count Worksheet

• -    Writing Off Inventory

• -    Creating an Item Assembly

• -    Building the Item

• Checking the Tax Tables

• Payroll Item List          

• Paycheque Deductions                                                                                                                                                          

• Employee Benefits     

• Updating Employee Payroll Records

• Allocating Payroll Expenses to Classes

• Generating a Payroll Run           

• Remitting Payroll Deductions/Contributions

• Employee Departures 

• -    Generating a Record of Employment

• -    Making an Employee Inactive            

• Generating T4 Slips    

• -    Setting Up Printer Options in Preparation for T4 Slips

• -    Printing T4 Slips

• Personal Tax Credits  

• Handling Direct Deposit

• Dealing with Foreign Currency      

• Setting Up Foreign Currency       

• -    Updating the Foreign Currency Exchange Rate

• Setting Up A Foreign Currency Bank Account

• Making Purchases in Foreign Currency

• -    Creating Accounts Payable Account in Foreign Currency

• -    Setting Up A Vendor        

• -    Entering Vendor Bills in a Foreign Currency

• -    Paying Bills in a Foreign Currency

• Pricing Inventory & Services                                                          

• -    Price List Report with Foreign Prices

• Setting Up For Sales to Foreign Customers

• -    Creating Accounts Receivable Account in Foreign Currency

• -    Setting Up Foreign Customers          

• -    Making Sales Using A Foreign Currency          

• -    Receiving Customer Payments in a Foreign Currency

• Foreign Currency Reporting

• Preparing Customer Statements

• -    Printing or E-mailing a Customer Statement

• -    Charging Interest on Overdue Accounts

• -    Activating Finance Charges

• -    Applying Finance Charges on Invoices

• NSF Cheques             

• -    Setting Up Charges for NSF Cheques

• -    Handling NSF Cheques     

• -    Processing Payment of NSF Cheques

• Handling Bad Debts    

• -    Setting Up Special Items for Bad Debt Write-offs

• -    Writing Off Bad Debt        

• Making Records Inactive                                                                                                                                                        

• Handling Sales Tax    

• -    Handling GST & GST Remittances

• -    Handling & Remitting Provincial Sales Tax

• Handling WCB Premiums                                                                                                                                                        

• Accessing the QuickBooks Website

• Customizing Your Reports

• Using Job Tracking

• -    Activating Jobs Features

• -    Creating Jobs

• -    Creating Estimates

• -    Invoicing Against Estimates

• -    Reporting on Jobs

• Changing the Sales Tax