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Recommended Prerequisites:
Getting Started with QuickBooks: How to set up a new business in QuickBooks
Basic knowledge of QuickBooks

Version:
QuickBooks Pro 2009 (Canadian Version)

Course length:
Introductory Price! 90 minutes

Cost:
$59.95 + GST

Materials:
Each course includes a step-by-step guide of the subjects taught to help students successfully implement what they learned.

Working with Bank Accounts in QuickBooks

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This course discusses the standard practices that every business handles. It will show you when to use the Write Cheques function versus when to use the Enter Bills function while working with QuickBooks. It will also talk about when transfers between bank accounts might be necessary and show you the proper techniques for completing those transfers.

Petty cash is another aspect of banking that is covered in this course. Learn what petty cash is and how to account for those funds. You will also learn what a petty cash float is and how to replenish it.

Tracking loans and loan payments is another banking function covered in this course. Learn how to track your different loans and how QuickBooks can help you. As part of the discussion on working with bank accounts in QuickBooks, you will learn how to use the What-if Scenario in the Loan Manager.

Learning Outcomes

Students who complete this course will know how to:

  • Record deposits
  • Add entries to a deposit
  • Create cheques and use the Write Cheques ooption
  • Transfer funds between two bank accounts
  • Set up a petty cash account
  • Set up a petty cash float
  • Record petty cash purchases
  • Create transactions in an account register
  • Edit transactions in an account register
  • Set up loans in the Loan Manager
  • Establish funds in the loan account
  • Make a loan payment using the Loan Manager
  • Modify loan terms

Why You Need This Course

This course will introduce you to basic bank account functions like receiving payments, creating deposits, transferring money between bank accounts, and writing cheques.

Most companies keep petty cash in the office for small purchases. Learn how to manage your petty cash in QuickBooks. Depending on the procedures in place in your company, you might withdraw petty cash directly from the bank or write a cheque made out to Cash. This course will show you how to handle both situations and keep accurate records of your petty cash expenditures.

You can use QuickBooks to track the money your business currently owes through loans. This course provides instruction in using the Loan Manager to add loans and make payments on them. You will learn how to modify loan terms for situations, like variable rate mortgages, where loan characteristics may change. You will be shown how to use QuickBooks What-if Scenarios to see what would happen if you changed your payment amount, changed your interest rate, refinanced and so on. None of the what-if scenarios affect your actual loan, so you have the freedom to try different options before making a decision.

Disclaimer:

Since these courses do not deal directly with specific and individual requirements, it is recommended that students obtain the necessary advice from an accountant, employer, QuickBooks® ProAdvisor® or such other appropriate expert with regards to their specific requirements or guidelines.