QuickBooks Online vs. QuickBooks Desktop vs. Excel
What you'll learn
- Analyze the core functionalities of QuickBooks Online, QuickBooks Desktop, and Excel for accounting tasks.
- Evaluate the strengths and weaknesses of each platform in handling accounting transactions.
- Execute common accounting transactions in QuickBooks Online, QuickBooks Desktop, and Excel.
- Conduct transactional analysis in the vendor, customer, and employee accounting cycles across all three platforms.
- Create, manage, and interpret financial statements and related reports in QuickBooks Online, QuickBooks Desktop, and Excel.
- Perform bank reconciliation procedures in both QuickBooks versions and mimic the process in Excel.
- Apply adjusting entries at the month or year-end to align financial statement reports to their accounting basis across all three platforms.
- Examine the management of different accounting bases such as accrual, cash, or tax basis in QuickBooks Online, QuickBooks Desktop, and Excel.
- Compare and contrast the workflows in QuickBooks Online, QuickBooks Desktop, and Excel and decide on the best platform based on specific requirements.
- Basic Accounting Knowledge: Understanding of fundamental accounting principles and terminologies will be beneficial for comprehending the course content.
- Reliable Internet Connection and Computer: A dependable computer and stable internet connection are required to access the course materials and the QuickBooks Online platform.
- Willingness to Learn: As the course involves comparing and contrasting three platforms, a proactive and open mindset will aid in maximizing the learning potential from this course.
- Basic Computer Proficiency: Familiarity with basic computer operations and internet browsing is necessary to navigate through the course materials and software platforms.
- Time Commitment: Due to the comprehensive nature of the course, participants should be prepared to dedicate sufficient time for learning and practice exercises.
Welcome to this comprehensive course designed to delve into a comparative study of QuickBooks Online, QuickBooks Desktop, and Microsoft Excel for accounting transactions. This course will provide a complete understanding of the three platforms, allowing you to evaluate their strengths, weaknesses, and best-fit scenarios based on your unique requirements.
Starting with an introduction to each platform, we'll clarify their distinct functionalities, highlighting what makes each of them unique. We'll explain the context in which one might be more beneficial over the other, considering factors such as cost, convenience, complexity, and capabilities.
The course will guide you to master the navigation of QuickBooks Online, QuickBooks Desktop, and Excel. You'll learn to set up and organize data, understanding the interfaces, and identifying the relationships between data input and the resultant financial reports.
We use a transactional analysis approach, categorizing transactions into vendor, customer, and employee accounting cycles. You'll gain an understanding of each cycle's data input forms and their impact on financial statements and related reports in all three platforms.
A significant part of this course involves creating and managing a new company file. We will guide you through setting up foundational accounting components such as the chart of accounts, service items, revenue items, and starting balances in each platform.
We'll demonstrate how to perform common transactions over a span of two months in QuickBooks Online, QuickBooks Desktop, and Excel, helping you understand the differences in workflows and impacts on financial statements and reports.
Bank reconciliation, a critical part of maintaining financial integrity, will also be covered. You'll understand how to handle bank reconciliations in both QuickBooks versions and emulate the process in Excel.
We delve into the details of adjusting entries in each platform, used to align financial statement reports to their accounting basis at the month or year-end. We'll explore the management of different accounting bases such as accrual, cash, or tax basis across QuickBooks Online, QuickBooks Desktop, and Excel.
By the end of this course, you will have gained a comprehensive understanding and developed a robust skillset to expertly navigate and utilize QuickBooks Online, QuickBooks Desktop, and Excel for all your accounting needs. You will be able to compare, contrast, and choose the best platform based on the specific requirements of your business or profession.
This course provides a thorough, in-depth exploration of QuickBooks Online, QuickBooks Desktop, and Excel as accounting tools, enabling you to understand their potential to enhance your accounting efficiency and make informed decisions. Whether you're an accountant, a business owner, a student, or simply interested in learning about different accounting tools, this course is your one-stop solution.
Who this course is for:
- Current QuickBooks and Excel Users: If you're already using any of these tools and want to learn about the other platforms, this course will provide a detailed comparison and insights.
- Accounting Professionals: Accountants, bookkeepers, auditors, or anyone in an accounting role will benefit from understanding the differences, strengths, and weaknesses of these platforms to serve their clients better.
- Business Owners and Entrepreneurs: If you're considering which software to use for your business, this course will help you understand which platform suits your needs the best.
- Accounting and Finance Students: This course will offer practical insights into the most popular accounting software platforms and Excel, providing an edge in the job market.
- Freelancers and Self-Employed Individuals: If you manage your own finances and need to decide which tool is best for your business, this course will provide the necessary insights.
- Finance Consultants and Advisors: Enhance your advisory services by gaining an in-depth understanding of QuickBooks Online, QuickBooks Desktop, and Excel as accounting tools.
- Anyone considering QuickBooks or Excel for their accounting needs: Whether you're new to these tools or exploring new software options, this course provides a detailed comparative study.
Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.
Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).
Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.
In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.
Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.
Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.
Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.
Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.
The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.
Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy.