QuickBooks Desktop Advance Project Based Training

Explore the real-time scenario of shifting from manual bookkeeping to QuickBooks, using opening balances from the closing trial balance for Jan 1, 2018 in a trading company.

Create a new QuickBooks company file by choosing extra start, define name, industry, and business type, auto-create accounts, and save the company file to a drive.

Learn how to create ledgers and enter opening balances in QuickBooks Desktop through a guided walkthrough of ledgers, fixed assets, and opening balances setup.

Learn how to delete a ledger in quickbooks when mistakes occur, including handling accumulated depreciation of land and buildings, a contra asset, and removing related transactions before deletion.

Edit a ledger in QuickBooks by renaming accounts, correcting opening balances, and reviewing transaction history to verify asset movements.

Enter opening balances for all ledgers in QuickBooks desktop, including fixed assets, accumulated depreciation, cash and bank balances, and liabilities, then auto-calculate capital from assets minus liabilities.

Learn how to enter customer balances in QuickBooks desktop, how control accounts update automatically as individual customer balances are entered, and how to create new customers and set opening balances.

Learn to correct customer balances in QuickBooks desktop by adjusting invoice date or balance, or deleting linked invoices before deleting the customer, and how to view all transactions.

Enter vendor balances in QuickBooks Desktop using the same interface as customers, and observe how the accounts payable control account updates to total balances.

Create inventory items and enter opening balances in QuickBooks Desktop, linking on-hand quantities to inventory, cost of goods sold, and the sales revenue account.

Run through entering inventory items and verify the trial balance, then perform balance adjustments by reversing uncategorized income and expenses to opening balance equity in QuickBooks desktop.

Explore the difference between trading and non-trading activities in QuickBooks, and learn how to enter non-trading transactions such as prepaid expenses and advance rent using journal entries or write checks.

Record a security deposit paid by cash for shop as a non trading entry, creating the other asset, debit security deposit and credit cash, review in journal and print voucher.

Demonstrates recording a cash-paid indirect expense by creating a repair and maintenance account and posting a 5000 rupees journal entry (debit repair and maintenance, credit cash).

Learn to receive payments from customers, apply them to open invoices, and handle deposits by moving undeposited funds to cash or bank in QuickBooks Desktop.

Enable cash receipts in QuickBooks Desktop, bypass undeposited funds, and deposit directly to cash or bank. Record deposits and the corresponding journal entries.

Learn to enter a credit purchase invoice in QuickBooks Desktop by selecting vendor, itemizing inventory or services, creating inventory items when needed, and posting debits to inventory and accounts payable.

Enter a new purchase in QuickBooks Desktop using the quick add vendor method and bills option. Add vendor and item details, quantities, and rates to generate the due date automatically.

Learn to record cash sales in QuickBooks desktop using sales receipts, distinguish them from invoices, and track customers, deposits, and the impact on cost of goods sold and inventory.

Record customer advances as a liability by creating a customer advances account and linked service item, and post cash receipts as a debit to cash and credit to customer advances.

Create a sales order by selecting the customer and items with rates, then manage advances by deducting them at invoice conversion and noting the advance in the order.

Enter direct sales in QuickBooks by creating an invoice, determine credit versus cash terms from the customer name, and post cost of goods sold and inventory per item.

Learn to create purchase orders in QuickBooks Desktop by selecting a vendor and entering items. Update costs when prices change and save the order without a journal entry.

Learn to handle bad debts in QuickBooks by settling an uncollectible invoice with a discount, recording bad debt expense, and verifying closure in reports.

Create a service item for packing charges and book a service invoice in QuickBooks, recording it to cost of goods sold and accounts payable, then review the journal entry.

Locate and edit previous transactions in QuickBooks desktop by finding records via customer or sale order number using find or search tools, then open, modify, or delete and verify results.

Learn to process a partial payment on a purchase invoice by selecting the vendor, paying thirty thousand by cheque to Standard Chartered Bank, and reducing accounts payable.

Convert a sales order to a sales invoice in QuickBooks, automatically deducting prior advance and updating receivables, sales, cost of goods sold, and inventory through itemized journal entries.

Record a purchase return in QuickBooks Desktop by using the credit card option in enter bills, select items and quantities, add a reference number, and save to view opposite entries.

Learn to process QuickBooks sales returns with refunds, manage available credit, and apply credits to invoices, adjusting inventory and cost of goods sold.

Receive customer payments in QuickBooks by selecting the customer and applying cash to clear all invoices, settling the full account and applying payments per the first in, first out method.

Convert a purchase order to a purchase invoice by receiving against the order, selecting the vendor, and finalizing the invoice, with item-level inventory entries and corresponding debit accounting.

Distinguish normal and abnormal inventory losses caused by negligence. Record the loss by reducing quantity, posting to a loss of inventory account, then verify with the transition journal.

Convert January prepaid rent into expense by debiting rent expense for 5,000 and adjusting the six-month advance via a January 31, 2013 journal entry, non-cash and non-trading.

Extract and review the trial balance report in QuickBooks Desktop, verify accuracy, export as PDF, and learn practical reconciliation steps by checking each ledger and attaching backup.

Back up QuickBooks locally or online, yet local backups help store on external drives with date-time names, limit to three copies, then restore and manage or delete old company files.

Create Ravi Textiles company in QuickBooks, compare trading and manufacturing, select manufacturing to auto-create chart of accounts, set up sole proprietorship, and prepare to configure interloping balances.

Learn to enter ledger opening balances in QuickBooks desktop by nature, inputting balances for bank, cash, debtors, creditors, and fixed assets as of January 1, 2019.

Learn to enter multiple customer balances quickly in QuickBooks Desktop using the add multiple customers feature, customizing columns, and copying from Excel for opening balances and dates.

Enter vendor balances from Excel using a vendor balances template, align name, balance, and as of date columns, copy and paste to QuickBooks, and validate against accounts payable.

Enter opening balances for raw materials in QuickBooks, create inventory parts, and record on-hand quantities and costs for items like cloth, zips, and button shirts as of January 1, 2019.

Enter finished goods and build a bill of materials to link raw materials to finished products, enabling automatic material deductions and finished goods updates in QuickBooks.

Log into QuickBooks Desktop, clear year-start accrued expenses, record cash payments, place and receive purchase orders, and convert orders to bills or invoices with reference details.

Enter a direct purchase invoice in QuickBooks Desktop, select a vendor, add line items with quantities and totals, set the date and reference, then save and reconcile.

Explore how to create a finished goods sales order in QuickBooks desktop when stock is insufficient, placing a manufacturing-led order for shirts and pants and delivering later.

Learn to process bank to petty cash transfers in QuickBooks Desktop by using the transfer funds feature and recording accurate journal entries.

Record a partial customer payment in QuickBooks Desktop, adjust the invoice for underpayment, and use undeposited funds or cash deposit options to reflect cash receipt.

Learn to record cash payments in QuickBooks Desktop, adjust amounts, and deposit directly into a cash account, bypassing undeposited funds, with checks in reports.

Record direct service purchases in QuickBooks Desktop by creating a service item linked to cost of goods sold, entering a bill for a vendor, and reviewing accounts payable.

Learn to enable multiple currencies in QuickBooks Desktop, switch from dollars to rupees, back up before changing, and apply currency conversions to all transactions and payments.

Record a cash purchase of services in QuickBooks desktop using write checks, selecting cash, entering the service item and amount, and printing the check with the reference number.

Record customer advances as a liability in QuickBooks Desktop, attach to sale orders with a service item, and deduct from the final invoice using a customer advances account.

Learn to book a sales order with customer advances in minus so advances carry into the sales invoice automatically, ensuring the sealed order records and transfers correctly.

Learn to book indirect expenses in QuickBooks Desktop by choosing either write checks or journal entries, using a traveling expenses example paid by cheque, including check numbers and reconciliation references.

Record and process a repair expense paid by check, selecting the bank, entering the memo, amount, date, and reference number, then review the transaction journal for debit and credit entries.

Record fixed assets entries using a journal in QuickBooks desktop, posting a 50,000 balance from the bank and using a memo or reference for reconciliation, then save.

Discover how to manufacture finished goods by building assemblies in QuickBooks Desktop, selecting items like shirts, checking stock levels, and turning raw materials into completed products.

Settle bad debts against pending invoices in QuickBooks desktop by creating a discount account and applying discounts via a journal entry to clear the receivable.

Convert sales order to sales invoice in QuickBooks Desktop, linking customer advances for a full delivery, and reflect updated accounts receivable, liabilities, and cost of goods sold.

Record a direct sales invoice in QuickBooks Desktop, create the invoice with line items, and review the non-exchange journal entry.

Convert a sales order to a sales invoice in QuickBooks desktop by creating invoices from orders, selecting the customer, invoicing delivered quantities, adjusting dates, and reviewing the journal.

Practice receiving payments in QuickBooks Desktop using a FIFO invoice sequence, clearing oldest invoices first and updating accounts receivable with cash receipts.

Learn to pay bills for purchase invoices by selecting pay bills, entering payment details, issuing a check via the bank, and verifying the accounts payable journal entry.

In this lesson, learn how to pay purchase invoices by check in QuickBooks Desktop, selecting bills, assigning a check number, and clearing payments for full or partial amounts.

Learn how to record a fixed asset purchase in QuickBooks Desktop using a journal entry or a check, selecting office equipment as a fixed asset and paying by cash.

Book loan settlements in QuickBooks Desktop by recording journal entries, debiting liabilities and crediting cash, and reviewing ledger balances and trial balance reports for audits.

Learn how to record a purchase return in QuickBooks Desktop by entering a bill for a vendor, item, and quantity, noting the debit to accounts payable and credit to inventories.

Learn to process a customer sales return in QuickBooks Desktop by recording refunds and credits against an invoice, applying credits, and reviewing the transaction journal.

Learn to record cash-based packing charges in QuickBooks Desktop by creating a service item for backing charges and posting them to cost of goods sold for inventory.

Record owner drawings as a cash withdrawal for personal use with a simple journal entry totaling forty five thousand, and create a new account named Gropings Press Tab.

Learn how to record damaged inventory as a loss in QuickBooks Desktop by adjusting quantity, setting up a loss of inventory expense account, and reviewing the journal entry and reports.

Create retail, wholesale, and export price levels for items in QuickBooks. Link these price levels to customers so the correct price applies automatically during invoicing.

Learn to customize QuickBooks desktop invoice templates with the layout designer, add logos, letterhead, header and footer, and digital signatures, then save reusable templates for consistent invoicing.

Add custom fields, like sales representative and sales tax number, to invoices by defining them in the customer profile, then customize the invoice template with a layout designer.

Learn how to add and manage custom fields in QuickBooks Desktop invoices, including defining item fields, multiple-choice sizes, and customizing the invoice template columns for headers and item details.

Customize reports in QuickBooks Desktop by applying filters to profit and loss standard, focusing on a sales representative. Remove or adjust filters to compare performance across reps.

Extract a monthly profit and loss report in QuickBooks desktop, divide it by month, and spotlight unusual expenses or revenue changes to question the prior accountant.

Extract the trial balance from reports, check balances like checking account against bank statement, identify unusual figures and discrepancies, and use third-party confirmations by email to reconcile accounts receivable.

Automate recurring entries in QuickBooks Desktop with memorized journal entries for monthly rent and recurring charges, treating prepaid rent as an asset and expensing it as the benefit is consumed.

Set up a petty cash imprest float in QuickBooks Desktop with an overall petty cash account and employee subaccounts, then reconcile expenses and reimburse to maintain the float.

Learn to manage employee cash advances in QuickBooks by creating an employee advances account, recording journal entries, deducting advances from salaries, and generating a detailed transaction detail by account report.

Celebrate course completion and apply the tools learned to professional or personal life; leave a review, ask questions in the Q&A, and explore a bonus discount on other courses.