QuickBooks Online vs. QuickBooks Desktop
What you'll learn
- Identify the unique features of both QuickBooks Online and QuickBooks Desktop, understanding their key differences.
- Examine the context in which one version might be preferred over the other, depending on specific accounting needs.
- Master the navigation of both QuickBooks Online and Desktop, getting acquainted with their respective interfaces and features.
- Analyze transactions using a transactional analysis approach, categorizing them into vendor, customer, and employee accounting cycles for both versions.
- Study each cycle's data input forms in both versions, comprehending their impact on financial statements and related reports.
- Establish a new company file in both QuickBooks Online and Desktop, mastering foundational components like the chart of accounts, service items, revenue items,
- Execute common transactions over a span of two months in both versions, understanding the different workflows and their impacts on financial statements and repo
- Conduct bank reconciliations in both versions, grasping the procedures using sample bank statements and understanding the integration of bank feeds.
- Apply bank rules efficiently for effective incorporation of banking transactions into both QuickBooks Online and Desktop.
- Generate and apply adjusting entries at the month or year-end in both versions, aligning financial statement reports to their accounting basis.
- Discover various accounting bases such as accrual, cash, or tax basis and how they are managed in QuickBooks Online and Desktop.
- Contrast the pros and cons of QuickBooks Online vs QuickBooks Desktop, justifying the choice of accounting software for specific tasks based on their functional
- Develop a comprehensive skill set to expertly navigate and utilize both QuickBooks Online and QuickBooks Desktop for a variety of accounting tasks and scenarios
- Integrate the knowledge acquired to choose the right version of QuickBooks (Online or Desktop) to optimize usage in real-world accounting scenarios.
- Reflect on the benefits and limitations of each version, contributing to a more informed decision-making process in choosing between QuickBooks Online and Deskt
- Demonstrate proficiency in both QuickBooks Online and QuickBooks Desktop by resolving complex accounting problems using the respective software.
Requirements
- Access to a Computer and Stable Internet: You need a reliable computer and stable internet connection to access course materials and the QuickBooks software. Note that QuickBooks Desktop requires installation on a Windows platform.
- Time Commitment: Engaging fully with the course materials and practice exercises will require dedicated time.
- Willingness to Learn: This course involves a lot of comparisons and contrasts, so a proactive learning attitude will help maximize your benefits from the course.
- Understanding of Basic Computer Operations: Basic knowledge of using a computer and internet browsing will be helpful as you navigate through the course and the software.
Description
This comprehensive course is designed to guide you through a comparative study of QuickBooks Online vs QuickBooks Desktop, providing you with a robust understanding of both platforms.
The course begins by introducing you to both QuickBooks Online and QuickBooks Desktop, explaining their unique features, their differences, and the context in which one might be preferred over the other. Each segment is designed to offer a side-by-side exploration of the two versions, providing you with a complete picture of their functionalities.
As we delve into the intricacies of the platforms, you will understand how to navigate both the QuickBooks Online and Desktop versions. You'll also identify the relationship between data input and the resultant financial statements and related reports in both versions.
We utilize a transactional analysis approach, categorizing transactions into accounting cycles: the vendor cycle, customer cycle, and employee cycle. This way, you can examine each cycle's data input forms and their impact on financial statements and related reports in both QuickBooks Online and Desktop.
Setting up a new company file is a crucial learning step, so we demonstrate how to master foundational accounting system components like the chart of accounts, service items, revenue items, and starting balances in both versions.
We guide you through entering a variety of common transactions over two months in both QuickBooks Online and Desktop, helping you understand the different workflows and impacts of each version on financial statements and related reports.
We cover important areas such as bank reconciliations, a critical part of ensuring financial integrity. You'll learn how to reconcile using sample bank statements and understand how to connect to the bank, download and incorporate bank data into the accounting system in both versions.
The course also explores adjusting entries, essential for aligning financial statement reports to their accounting basis at the month or year-end. You'll understand how to handle various accounting bases like accrual, cash, or tax basis in both QuickBooks Online and Desktop.
This course promises a comprehensive, in-depth exploration of QuickBooks Online and Desktop, allowing you to make an informed decision about which software best suits your needs. It's not just about picking one over the other; it's about understanding the potential of both platforms to enhance your accounting efficiency.
Who this course is for:
- Current QuickBooks Users: If you're already using either version and are curious about the other, this course will provide a detailed comparison to help you decide if switching might be beneficial.
- Accounting Professionals: Whether you're an accountant, bookkeeper, or auditor, this course offers a comprehensive understanding of both versions, helping you better serve clients using either platform.
- Business Owners and Entrepreneurs: If you're deciding on which version to use for your business or considering switching, this course will help you understand the strengths and weaknesses of each version.
- Accounting and Finance Students: This course will provide practical insights into two of the most popular accounting software platforms, preparing you for various roles in the accounting and finance industry.
- Freelancers and Self-Employed Individuals: If you manage your own financials and are unsure which version of QuickBooks is the best fit for your needs, this course can guide you.
- Finance Consultants and Advisors: Offering advisory services to businesses often involves understanding the tools they use. This course can enhance your consultancy services by providing a thorough understanding of both QuickBooks Online and Desktop.
- Anyone considering QuickBooks for their accounting needs: If you're new to QuickBooks and unsure which version to choose, this course provides a detailed comparison to guide your decision.
Instructor
- 4.4 Instructor Rating
- 51,367 Reviews
- 900,577 Students
- 149 Courses
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.