Mastering QuickBooks Desktop: A Comprehensive Guide from Udemy

Disregard any notion of becoming a QuickBooks expert in an hour. True proficiency takes time and comprehensive learning, which this course is designed to provide. Catering to both beginners and experienced users, our course initiates with the basics and progresses to in-depth software analysis.

This course is structured to enable learners to follow a start-to-finish path or jump directly to relevant sections. Serving as a dependable, up-to-date reference guide, it is ideal for ongoing consultation. We remain committed to course updates to ensure continued relevance and usefulness.

We understand that software-focused courses can become outdated swiftly, which is why we are dedicated to updating the material regularly. Additionally, we include lectures relevant to prior software versions, useful for those utilizing older QuickBooks versions.

This course provides backup files, an invaluable tool for learners wishing to progress ahead or revisit specific sections. These files ensure learners have identical data to the examples provided, facilitating an easy, step-by-step following of the presentation and task execution.

The course begins with accessing, downloading, and installing the QuickBooks software, potentially free of charge. Using a sample file provided by QuickBooks, learners will explore the software, identify frequently-used areas, and understand the correlation between data input and the generation of financial statements and related reports.

Our transaction analysis by accounting cycle – vendor, customer, and employee – enables learners to appreciate the flow of data input forms in each cycle and their consequent impact on financial statements and related reports.

A critical course component is the creation of a new company file, a vital step in understanding the setup of fundamental accounting system elements such as chart of accounts, service items, revenue items, and starting balances. Learners will practice data input for two months, using a variety of common transactions, supported by instructional videos, and evaluate each transaction's impact on financial statements and related reports.

Upon completion of data input, learners will carry out bank reconciliations using sample bank statements, mastering the procedure and understanding the reasoning behind it. An expansive section on bank feeds demonstrates how to connect to the bank, download bank data into QuickBooks, create or verify financial transactions, and apply bank rules for efficiency. Data input using bank feeds for checking, credit card, and PayPal accounts will also be demonstrated.

Subsequently, learners will enter adjusting entries, used to align financial statement reports to their accounting basis at the month or year-end. Various accounting bases such as accrual, cash, and tax will be examined.

The course provides an understanding of the role of budgets in the accounting process, best practices for budget construction, QuickBooks budget entry, and generation of budget reports.

Additionally, specialized topics such as account number usage, form customization, class tracking, transaction memorization, fixed asset tracking, tax mapping, and multiple currency handling are included, offering a rounded understanding of QuickBooks Desktop.

Upon completion of this course, learners will have cultivated a comprehensive skill set, enabling proficient navigation and utilization of QuickBooks Desktop for all their accounting needs.

What's inside

Learning objectives

Master the navigation of quickbooks desktop, becoming familiar with its numerous features and functionalities.
Identify and comprehend the relationship between data input and the resultant financial statements and related reports.
Analyze transactions using a transactional analysis approach, categorizing them into vendor, customer, and employee accounting cycles.
Examine each cycle's data input forms in detail and their respective impacts on financial statements and related reports.
Set up a new company file in quickbooks desktop, mastering foundational components like the chart of accounts, service items, and starting balances.
Execute common transactions over a span of two months, analyzing each transaction's impact on financial reports.
Perform bank reconciliations, ensuring financial integrity through demonstrated reconciliation procedures using sample bank statements.
Master the integration of bank feeds, learning how to connect to the bank, download and incorporate bank data into the accounting system.
Learn to apply bank rules efficiently for effective incorporation of banking transactions into quickbooks desktop.
Create and apply adjusting entries at the month or year-end, aligning financial statement reports to their accounting basis.
Develop an understanding of various accounting bases such as accrual, cash, or tax basis and their application in quickbooks desktop.

Master best practices for budget construction, quickbooks budget entry, and budget report generation.
Dive into specialized topics such as the use of account numbers, form customization, and class tracking.
Explore efficient transaction memorization for repeat entries in quickbooks desktop.
Handle multiple currencies in quickbooks desktop, managing and reconciling foreign transactions.
Develop strategies for handling complex accounting scenarios, utilizing quickbooks desktop to devise efficient solutions.
Reflect on the pros and cons of quickbooks desktop, justifying the choice of accounting software for specific tasks based on their functionalities.
Develop a comprehensive skill set to expertly navigate and utilize quickbooks desktop for a variety of accounting tasks and scenarios.
Integrate the knowledge acquired to optimize the use of quickbooks desktop in real-world accounting scenarios.
Showcase proficiency in quickbooks desktop by resolving complex accounting problems using the software.
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Master the navigation of quickbooks desktop, becoming familiar with its numerous features and functionalities.
Identify and comprehend the relationship between data input and the resultant financial statements and related reports.
Analyze transactions using a transactional analysis approach, categorizing them into vendor, customer, and employee accounting cycles.
Examine each cycle's data input forms in detail and their respective impacts on financial statements and related reports.
Set up a new company file in quickbooks desktop, mastering foundational components like the chart of accounts, service items, and starting balances.
Execute common transactions over a span of two months, analyzing each transaction's impact on financial reports.
Perform bank reconciliations, ensuring financial integrity through demonstrated reconciliation procedures using sample bank statements.
Master the integration of bank feeds, learning how to connect to the bank, download and incorporate bank data into the accounting system.
Learn to apply bank rules efficiently for effective incorporation of banking transactions into quickbooks desktop.
Create and apply adjusting entries at the month or year-end, aligning financial statement reports to their accounting basis.
Develop an understanding of various accounting bases such as accrual, cash, or tax basis and their application in quickbooks desktop.
Master best practices for budget construction, quickbooks budget entry, and budget report generation.
Dive into specialized topics such as the use of account numbers, form customization, and class tracking.
Explore efficient transaction memorization for repeat entries in quickbooks desktop.
Handle multiple currencies in quickbooks desktop, managing and reconciling foreign transactions.
Develop strategies for handling complex accounting scenarios, utilizing quickbooks desktop to devise efficient solutions.
Reflect on the pros and cons of quickbooks desktop, justifying the choice of accounting software for specific tasks based on their functionalities.
Develop a comprehensive skill set to expertly navigate and utilize quickbooks desktop for a variety of accounting tasks and scenarios.
Integrate the knowledge acquired to optimize the use of quickbooks desktop in real-world accounting scenarios.
Showcase proficiency in quickbooks desktop by resolving complex accounting problems using the software.
Show more
Show less

Syllabus

2024 QuickBooks Desktop Enterprise

1010 QuickBooks Software Types & Versions

1100 How to Update Software

2024 New for Enterprise - Unearned Revenue, Customer Prepayment or Deposit for

1110 Free 30 Day Trial – Download & Install

1115 Setup Sample Company File

1120 Customer Prepayment Overview – The Problem

1125 Normal Cycle – Estimate, Sales Order, & Purchase Order (1)

1130 Receive Inventory Bill, Invoice Customer & Receive Payment

1135 -AR Customer Prepayment Deposit Estimate, Sales Order, Receive Payment

1150 -AR Subscription Unearned Revenue Estimate, Sales Order, & Receive Payment

1155 -AR Subscription Unearned Revenue Monthly Invoicing & Revenue Recognition

1160 Customer Prepayment Estimate, Sales Order, Receive Payment

1165 Customer Prepayment – P.O., Bill, Invoice, & Receive Payment

1170 Unearned Revenue Estimate, Sales Order, Receive Payment

1175 Unearned Revenue – Monthly Invoicing

2023 QuickBooks Pro Desktop Overview

Overview

2023 Intro-Getting Started

1005 QuickBooks Desktop vs QuickBooks Online

Documents to Download

1009 QuickBooks Desktop

1010 How To Download the Software

1012 30 Day Free Trial or Purchase Process

1015 Install QuickBooks Desktop

1017 Increase Display Size

2023 Open Practice File-Review Home Page & Accounting Cycles

1020 Download & Open Sample File

1080 Home Page Overview

1100 Bank Feeds

1120 Preferences

2023 Vendor Cycle, Purchases Cycle, or Accounts Payable Cycle

1140 Vendors Section

1160 Vendor Center

1180 Bill Form

1200 Pay Bills Form Check

1220 Purchase Order Form P.O

1222 Bill With Inventory Connected to P.O.

1227 Inventory Adjustment

1240 Manage Sales Tax

1260 Check Form

1280 Void Check Prior Period

2023 Customer Cycle, Sales Cycle, or Accounts Receivable Cycle

1300 Customer Section Customer Cycle

1320 Customer Center

1340 Invoice Form

1360 Receive Payment Form

1380 Deposit Form

1400 Sales Receipts Form

1405 Barter Sale Transaction

1420 Credit Memo Refund Form & Bad Debt Expense

1423 Statement Charges

1426 Finance Charges

1429 Statements

1433 Estimate

2023 Other Home Page Items, Shortcuts, & Customizing Shortcuts

1440 Banking Section, Company Section Shortcuts

1460 Customize Shortcuts & Home Page Icons

2023 Employee Cycle - Payroll Cycle

1480 Employee Section Payroll Process

1500 Employee Center

1520 Pay Employees Form

1540 Pay Payroll Liabilities Form

1545 Process Payroll Forms

1548 Enter Time Form

2023 Lists - Chart of Accounts & Items Lists

1560 Lists

1580 Chart of Accounts

1600 Item Lists

2023 Help/Support, Reports Overview, & Backing Up Data File

1620 Help & Support Options

1640 Reports Overview

1660 Backup File

2023 Balance Sheet Reports

2020 Balance Sheet Report Overview7e0f0e.autosave

2040 Report Formatting Basics

2045 Report Filters

2060 Report Header Footer Formatting

2080 Report Fonts Numbers Formatting

2100 Comparative Balance Sheet Creation

2120 Balance Sheet Vertical Analysis

2140 Memorize Report Group Setup

2160 Memorize Reports

2180 Reports - Print, Save as PDF Organize

2181 Export Balance Sheet to Excel

2023 Income Statement - Profit & Loss

3020 Profit and Loss, P & L, Income Statement Overview

3040 Comparative Profit & Loss, P&L, Income Statement

3060 Vertical Analysis Profit Loss, P&L, Income Statement

3080 Memorize Profit & Loss, P&L, Income Statement Reports

3100 Print, Save as PDF Organize Profit Loss or Income Statement Reports

3105 Export to Excel Profit and Loss or Income Statement Reports

2023 Statement of Cash Flows & Supplemental Reports

4020 Statement of Cash Flows

4040 Accounts Receivable Aging Reports

4060 Accounts Payable Aging Reports

4065 1099 Reports

4080 Sales by Customer and Sales by Item

4140 Inventory Reports

4160 Payroll & Employee Reports

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Begins with accessing, downloading, and installing the QuickBooks software, potentially free of charge, which is helpful for learners who are new to the software

Includes lectures relevant to prior software versions, which is useful for those utilizing older QuickBooks versions and transitioning to newer ones

Provides backup files, an invaluable tool for learners wishing to progress ahead or revisit specific sections, ensuring learners have identical data to the examples provided

Covers specialized topics such as account number usage, form customization, class tracking, transaction memorization, fixed asset tracking, tax mapping, and multiple currency handling, offering a rounded understanding

Focuses on QuickBooks Desktop, which may not be as relevant for learners interested in the cloud-based QuickBooks Online version, which is more popular

Uses 2023 and 2024 versions of QuickBooks Desktop, which may be a problem for learners using older versions of the software, as the interface may be different

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Mastering QuickBooks Desktop: A Comprehensive Guide with these activities:

Review Basic Accounting Principles

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Reinforce your understanding of fundamental accounting principles, which are essential for effectively using QuickBooks Desktop.

Browse courses on QuickBooks

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Review the accounting equation (Assets = Liabilities + Equity).
Study the definitions of debits and credits.
Familiarize yourself with the chart of accounts.

Read 'QuickBooks for Dummies'

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Gain a solid foundation in QuickBooks Desktop by reading a beginner-friendly guide.

View Putting Knowledge to Work on Amazon

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Obtain a copy of 'QuickBooks for Dummies'.
Read the chapters covering basic setup and navigation.
Practice the examples provided in the book.

Set Up a Sample Company File

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Solidify your understanding of QuickBooks Desktop by creating a sample company file and inputting basic financial data.

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Create a new company file in QuickBooks Desktop.
Configure the chart of accounts.
Enter sample transactions for vendors, customers, and employees.
Generate basic financial reports.

Four other activities

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Perform Bank Reconciliations

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Improve your proficiency in bank reconciliations by practicing with sample bank statements.

Browse courses on Bank Reconciliation

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Download sample bank statements.
Reconcile the bank statements with the QuickBooks Desktop data.
Identify and resolve any discrepancies.

Create a Video Tutorial on a Specific QuickBooks Function

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Deepen your understanding of a specific QuickBooks Desktop function by creating a video tutorial explaining its use.

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Choose a specific QuickBooks Desktop function (e.g., creating invoices, managing inventory).
Record a video tutorial demonstrating the function.
Edit the video and add narration.
Share the video with other students or on a platform like YouTube.

Explore 'Mastering QuickBooks 2023'

Show steps

Expand your knowledge of advanced QuickBooks Desktop features by exploring a comprehensive guide.

View Putting Knowledge to Work on Amazon

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Obtain a copy of 'Mastering QuickBooks 2023'.
Read the chapters covering advanced topics such as class tracking and multiple currency handling.
Practice the examples provided in the book.

Develop a Customized Report Template

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Enhance your reporting skills by creating a customized report template tailored to specific business needs.

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Identify a specific reporting need (e.g., sales by region, expense analysis).
Customize a QuickBooks Desktop report template to meet that need.
Test the report template with sample data.
Document the report template's purpose and usage.

Career center

Learners who complete Mastering QuickBooks Desktop: A Comprehensive Guide will develop knowledge and skills that may be useful to these careers:

Bookkeeper

A bookkeeper is responsible for recording financial transactions, and this course in QuickBooks Desktop equips you to do that effectively. The course provides a foundation in using QuickBooks Desktop, a tool many bookkeepers rely on to manage daily financial records. This includes understanding how to input data, reconcile bank statements, and generate financial reports, all vital tasks for a bookkeeper. Learning to manage vendor, customer, and employee cycles in QuickBooks, as taught in this course, will provide you with practical experience in the daily duties of a bookkeeper. You should take this course to gain hands-on experience with this essential software used to perform accurate and compliant bookkeeping.

See salaries and explore the career path for Bookkeeper

Business Owner

A business owner often needs to manage their own company's finances, making this course on QuickBooks Desktop highly relevant. This course is designed to provide a comprehensive understanding of how to use QuickBooks Desktop, from setting up a company file to managing daily transactions, handling bank reconciliations, and generating financial reports. This course will help the business owner to manage their own finances, and to better understand the role of their accounting team. This course is ideal for a business owner who wants hands-on experience with their company's accounting software.

See salaries and explore the career path for Business Owner

Startup Founder

A startup founder often needs to wear many hats, including managing finances, and this course in QuickBooks Desktop makes this feasible. The course covers the practical skills required to manage the finances of a new business. You'll learn how to set up a company file, manage transactions, perform bank reconciliations, and generate financial reports, all essential for running a startup on a tight budget. The course can be useful for a startup founder who wishes to get their business's accounting off the ground. This course is an excellent option for startup founders who need to manage their company's finances on their own.

See salaries and explore the career path for Startup Founder

Accounting Clerk

An accounting clerk performs routine accounting tasks, often utilizing software like QuickBooks Desktop, therefore this course is extremely relevant. You'll learn to input and track financial data, manage accounts payable and receivable, and reconcile bank statements, all skills directly applicable to an accounting clerk. This course's focus on transaction analysis by accounting cycle, the creation of a company file, and bank reconciliation procedures, will help develop a strong understanding of daily clerk tasks. The course shows how to use QuickBooks Desktop to handle various transactions and prepare financial reports, thus a student should take this course if they want to be an accounting clerk and gain hands-on practical experience.

See salaries and explore the career path for Accounting Clerk

Small Business Accountant

A small business accountant manages the financial records of small businesses, and this course teaches QuickBooks Desktop, an essential tool for this role. The course’s focus on setting up a company file, managing transactions, performing bank reconciliations, and creating financial reports are all essential tasks for a small business accountant. This course dives deep into the software, providing the practical skills necessary to manage a small company’s financials. Moreover, topics like budgets, account numbers, and multiple currency handling, ensure you're prepared to manage a small business accounting function, making this course extremely helpful for anyone wishing to become a small business accountant.

See salaries and explore the career path for Small Business Accountant

Office Manager

An office manager often handles various administrative tasks, and this course in QuickBooks Desktop can prove useful for those who also need to manage finances. This course is helpful for anyone who needs to perform bookkeeping, manage accounts, and generate financial reports. The practical skills you'll learn in this course, such as setting up a company file, managing transactions, and doing bank reconciliations, help to broaden an office manager's capability. An office manager who needs skills in accounting may find this course beneficial.

See salaries and explore the career path for Office Manager

Business Consultant

A business consultant often needs to understand a business's financial situation, and this course, providing practical skills in QuickBooks Desktop, can help. This course's focus on financial data handling and report generation is useful for a consultant who advises businesses on efficiency and growth. Moreover, learning to set up a company file and manage different transaction cycles provides a consultant with insights into real-world business accounting. This course provides a business consultant with a deeper understanding of how a company manages its finances, making this course a good choice for consultants advising small businesses.

See salaries and explore the career path for Business Consultant

Payroll Specialist

A payroll specialist is responsible for processing employee payments, and this course helps those who wish to understand the impacts of payroll in QuickBooks. This course focuses not only on how to set up the system, but also how data input impacts financial statements. Moreover, this course includes a section on the employee cycle, which is useful to understand how payroll is tracked in accounting software. While not exclusively a payroll course, learning about employee transactions in QuickBooks helps to provide the foundation to perform the tasks of a payroll specialist. Therefore, this course could be helpful for those interested in exploring the role of a payroll specialist.

See salaries and explore the career path for Payroll Specialist

Accounting Manager

An accounting manager supervises the accounting department, and a course in QuickBooks Desktop allows them to better understand the tools their team uses. The course covers the full range of QuickBooks Desktop functions, from basic setup to advanced features like bank feeds, multiple currencies, and customized forms. The course helps you to understand the practical aspects of data management and reporting. Ultimately, an accounting manager who understands day-to-day operation of software, will be able to more effectively manage their team. An accounting manager who supervises use of QuickBooks Desktop should consider taking this course.

See salaries and explore the career path for Accounting Manager

Financial Controller

A financial controller oversees a company's accounting practices, and this course can help to provide them with a greater understanding of the processes of the accounting department. This QuickBooks Desktop course goes deep into company setup, management of different transaction cycles, and bank reconciliations. Additionally, controllers will find the course’s discussion of budgets, adjusting entries, and financial reporting useful to understand the daily operations of their accounting team. This course provides a thorough look at a core piece of accounting software, making it a good fit for aspiring financial controllers.

See salaries and explore the career path for Financial Controller

Operations Manager

An operations manager can benefit from understanding a company's accounting processes, and this QuickBooks Desktop course may be helpful. The course provides a view into how financial data flows through a business, which is valuable for overseeing operational efficiency. By understanding the links between transactions and financial reports, an operations manager gains visibility into daily operations. This course provides a look at the system behind accounting data, which could be useful for an operations manager. An operations manager who wishes to understand the company's accounting data will find this course valuable.

See salaries and explore the career path for Operations Manager

Tax Preparer

A tax preparer needs to understand financial records and how they impact tax liabilities, and this QuickBooks Desktop course may prove useful. The course covers various accounting bases, which is especially useful to learning about tax basis accounting, which is a key area for a tax preparer. This course will also help a tax preparer understand the data behind the reports they use. The transaction analysis, reconciliation, and adjusting entries covered here will help a tax preparer better interpret and use financial data. A tax preparer who wants to better understand the financial data they use, and how it flows, may find this course helpful.

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Budget Analyst

A budget analyst is responsible for creating and managing budgets, and this course, featuring a module on budget creation in QuickBooks Desktop, is relevant. While this course is not entirely focused on budgeting, the section covering budget construction and report generation provides a good overview of best practices. You will learn to build budgets, input them into QuickBooks, and generate reports. A budget analyst needing to improve their understanding of how accounting software is used to build budgets would find this course to be a valuable asset.

See salaries and explore the career path for Budget Analyst

Financial Analyst

A financial analyst often needs to understand the underlying data that comprises financial statements, and this course, which explores QuickBooks Desktop, can be beneficial for this insight. While a financial analyst may not directly use QuickBooks on a daily basis, the course helps to build a foundation in interpreting financial reports, understanding how data inputs affect these reports, and also see multiple accounting cycles from the ground up. The course will help a financial analyst better understand the nuances of accounting data. This course may be particularly useful for those financial analysts who work with smaller businesses. A financial analyst focused on real-world accounting data would be well-suited to take this course.

See salaries and explore the career path for Financial Analyst

Audit Associate

An audit associate verifies the accuracy of financial records, and this course, focused on QuickBooks Desktop, may prove useful. Though an audit associate does not typically use QuickBooks Desktop in their daily activities, this course helps them to better understand how the accounting process is conducted by businesses, as well as the system behind reports and statements. Understanding how the data flows from input to financial statements, especially the procedures in this course, will help to train an audit associate. This course may help those who wish to understand how accounting systems work, which makes it a decent choice for an audit associate.

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Mastering QuickBooks Desktop

A Comprehensive Guide

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