Bookkeeping and QuickBooks Bundle

Learn the general ledger workflow, including chart of accounts, debits and credits, and posting from the general journal to the ledger, with trial balance checks in QuickBooks or Peachtree.

Analyze profit and loss statements, balance sheets, and cash flow statements to track income, expenses, cost of goods sold, gross profit, net income, and owners' equity.

Explore closing entries that transfer monthly prepaid insurance and prepaid rent expenses, apply depreciation, and adjust for bad debt, while reducing asset balances and updating income statements.

Record transactions, create journal entries, post to the general ledger, and generate balance sheet and income statement through the nine-step accounting cycle, including trial balances, adjustments, closing, and post-closing review.

Discover how accounts payable records vendor invoices, increases utilities expense, and how paying bills reduces cash and accounts payable on the balance sheet and profit and loss statement.

Set up a vendor in QuickBooks using the vendor center, create a vendor, and enter details such as company name, contact, tax ID, payment terms, and accounts for entering bills.

Enter a vendor bill in QuickBooks, choose a vendor, enter the invoice number and amount, set net 30 terms, and save to update accounts payable.

Pay bills in QuickBooks by selecting a vendor bill, choosing a payment date and method, and printing or entering a manual check, updating accounts payable and cash.

Learn how accounts receivable records customer invoices, increases AR on the balance sheet, and hits the profit and loss statement as consulting income, then converts AR to cash when paid.

Set up customers in QuickBooks, create invoices, and record payments to manage accounts receivable; learn to apply payment terms, assign income accounts, and use undeposited funds for deposits.

Create customer estimates in QuickBooks, turn them into contracts, and bill progress through percentage-based invoices that reflect partial and final work on a construction project.

Track how inventory becomes an asset through purchases and sales, recording debits to inventory and cash reductions. Learn how ending inventory and sales affect the balance sheet and income statement.

Enable inventory in quickbooks and set up an inventory item with cost, cogs, vendor, a reorder point, then receive, bill, and invoice to update inventory asset and income.

Record loans immediately to reflect the company's financial position, debiting cash and crediting loan payable, then calculate simple interest of 2400 on a 10000 loan at 8% over 3 years.

Set up and manage an auto loan in quickbooks by creating a long-term liability and a fixed asset, entering the loan in loan manager, and tracking payments, interest, and depreciation.

Compare bank statements with the general ledger to perform monthly reconciliations, adjusting for deposits in transit, outstanding checks, and bank fees.

Reconcile bank accounts in QuickBooks by matching the bank statement ending balance with your books, including service charges and interest earned. Reconcile monthly and view the reconciliation report.

Calculate weekly gross pay from annual salary, apply social security and Medicare taxes, account for federal and state unemployment taxes, and record payroll using accrual entries and a payroll register.

Learn how depreciation lowers a fixed asset’s book value over its five-year useful life, with a $1,000 computer showing $200 yearly and $16.66 monthly depreciation.

Learn to manage fixed assets in QuickBooks by setting up a fixed asset item, calculating depreciation expense, and posting journal entries to track depreciation and accumulated depreciation.