
Explore bank reconciliation myths and how QuickBooks enforces double-entry accounting as a key internal control, and learn to reconcile cash, bank feeds, and timing differences.
Navigate QuickBooks Online bank reconciliation month one overview, matching books to the bank, addressing beginning balance issues, timing differences, and outstanding checks.
Transfer data from a QuickBooks desktop backup to QuickBooks Online using a 30-day trial, setting up a new online file, and verifying balances with the balance sheet and income statement.
Learn to reconcile QuickBooks Online 2023 bank reconciliations by aligning month one deposits with the bank statement, resolving beginning balance discrepancies, and using the clearing account to match deposits.
Learn how to perform a month 1 bank reconciliation in QuickBooks Online, matching the bank statement to the books, handling checks, cash, beginning and ending balances, and reconciling items.
Learn to resolve opening balance problems in QuickBooks Online 2023 by reconciling the beginning balance, creating an audit trail for prior-period checks, and finishing the bank reconciliation.
Master month one bank reconciliation in QuickBooks Online by comparing the bank statement to the books, reviewing the balance sheet and profit and loss, and generating the reconciliation report.
Compare month 2 deposits and bank reconciliations in QuickBooks Online 2023, verify beginning and ending balances, and resolve timing differences and reconciling items.
Walks through performing the February bank reconciliation in QuickBooks Online, identifying uncleared checks and timing differences, comparing bank statements with the books, and adjusting for checks, draws, and bank fees.
Learn to run bank reconciliation reports in QuickBooks Online 2023, compare cleared and book balances, identify reconciling items, and review the bank reconciliation with detailed timing differences.
Set up QuickBooks Online, conduct first and second month bank reconciliations, compare bank statements to books, and use Excel for visualization and practice statements to grasp timing differences.
Set up a QuickBooks Online account, choose the plus plan for inventory and 1099s, register, enter business details, and explore the dashboard to manage customers, vendors, and banking.
Explore how to perform a bank reconciliation in QuickBooks Online for January and February, verify beginning balances against the bank statement, and identify timing differences through deposits and checks.
download and open the Excel files by clicking the icon, unzip if needed, and open the 6.5 set up new company worksheet.
Learn to perform bank reconciliations in Excel and QuickBooks by comparing statements to the ledger. Handle timing differences, deposits in transit, outstanding checks, and adjustments to reach a reconciled balance.
Learn how January bank reconciliation adjustments interact with QuickBooks and Excel, using journal entries for bank service charges and miscellaneous expenses to align the cash balance and equity after closing.
Reconcile February bank statements in QuickBooks Online by comparing the book and bank balances, identifying outstanding items, deposits, and checks, and recording necessary adjustments.
Download and unzip the Excel files for section 6, then open the 6.5 'set up new company worksheet' to access the data needed for QuickBooks Online bank reconciliation.
Learn to perform a February bank reconciliation using QuickBooks and Excel, comparing bank statements to the general ledger, identifying reconciling items, deposits, checks, and necessary adjustments.
Reconcile February bank statements in Excel and QuickBooks by recording owner draws and bank service charges as adjusting journal entries, and finalize outstanding checks and deposits.
If we are a business owner who would like more assurance about our books, a business professional who would like to advance our career by learning the importance of bank reconciliations, or an accounting student who would like to see the critical internal control of bank reconciliations applies to real work software, this QuickBooks course is a course for us.
Why choose this course?
The bank reconciliation process is the second biggest internal control for most companies and one both large and small companies can, and should, implement. Reconciling the bank account provided a MUCH larger scene of assurance that our financial data and the financial reports are complete and correct.
We will demonstrate the bank reconciliation process for two months in QuickBooks. The first month of operations is often the most difficult to enter because we must deal with the begging balance. The second month and thereafter is generally much easier to reconcile using QuickBooks software but something that takes some time to fully understand conceptional.
We will also run the bank reconciliation process using Excel worksheets, which will provide a more conceptual view of how the process works and how the bank reconciliation report is generated from the process.
Who will we be learning from?
You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together a curriculum.
You will be learning from somebody who is a:
As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.
The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also helped in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.
How will we be Taught?
Through viewing and then doing. We will demonstrate the reconciliation process in the software in such a way that it can be applied to practice. Because QuickBooks Online does not allow for static backup files at this time we cannot provide the exact data to follow along with, but we will include Excel worksheets that can be used to follow the same process.
By seeing the process performed in QuickBooks and Excel and working the process in an Excel worksheet we will understand both the procedure and the reasoning for the procedure.