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IT & Software Other IT & Software Accounting

Wave Accounting software

Learn how to use Wave, the FREE cloud bookkeeping software to perform several essential bookkeeping tasks
Rating: 3.7 out of 53.7 (28 ratings)
129 students
Created by Lisa Newton
Last updated 12/2016
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • By the end of the course you will be able to complete various common functions using WAVE
  • In this course you will learn how to:
  • Enter the opening balances
  • Amend the nominal ledger
  • Add new customer and supplier details
  • Post customer invoices and credit notes to the sales ledger
  • Post supplier invoices and credit notes to the purchase ledger
  • Enter the supplier cheques and record the customer receipts
  • Post Petty Cash transactions
  • Prepare the VAT return
  • Reconcile the bank
  • Post the wages journal
  • Post adjustments to the accounts and produce month-end reports

Requirements

  • You will need access to WAVE in order to complete the assignment - but we'll explain how to get a free trial of the software in lecture 2

Description

WAVE Accounting / Bookkeeping software - Computerised Accounts

course is about how to use WAVE based on the most popular functions which you as a WAVE operator needs to know how to use, in order to be proficient in using the software.

The learning is structured in a practical way. You are given a practical scenario assignment. There are various tasks to complete. You are given the task to do and have a go at, and then the video answer is available. It is suggested that you:

  1. Read the task
  2. Watch the video
  3. Have a go at it yourself on your own system
  4. Rewatch the video (if necessary) - to reinforce the learning

You'll learn how to set up a Tally accounting system from scratch, how to enter opening balances, post customer invoices and credit notes, post supplier bills and credit notes, pay suppliers, petty cash, prepare a VAT return, reconcile the bank, post journals, run reports amongst over things.

This is a useful course if:

  • You are thinking of working with the software,
  • You are going for jobs which have a requirement for you to be able to use this software
  • You want to put this skill on your CV, or
  • You are a bookkeeper or accountant and will be using this for clients or even
  • You run your own business and want to know how to use WAVE for yourself.

You will need to have access to WAVE. You can sign up to the WAVE site to get a free trial. We give you the link in lecture one and show you how to do this. The instructor is usually online to answer student queries for 2 hours each day.

The course materials includes the handout of the assignment task.

Successful completion of the course is the equivalent to being at the level of having a level 2 certificate in computerised accounts.

The course will take about 3-4 hours to complete.

Who this course is for:

  • Bookkeepers and Accountants who need to increase their skills set
  • Students who are going for jobs where the requirement is working knowledge of Wave Accounting
  • Those who have studied accounting, but want practical knowledge of how to use a popular accounting software which will help them find employment
  • Previous knowledge of accounting is not presumed or required

Course content

16 sections • 40 lectures • 3h 23m total length

  • Preview04:32
  • Preview06:21

  • Customise the system and set up VAT codes
    05:06
  • Add opening balances - part 1 - add nominal codes
    07:56
  • Add opening balances - part 2
    08:00
  • Report opening trial balance
    01:29

  • Reverse opening balances - accruals and prepayments
    08:04
  • Reverse the opening accrual - show a report
    00:55

  • Preview04:24
  • Report listing the nominal ledger
    01:06

  • Enter customers
    09:46
  • Customers report
    01:48

  • Create suppliers
    06:25
  • Supplier report
    01:18

  • Post customer invoices 1001 - 1002
    09:01
  • Post customer invoices 1003-1004
    04:52
  • Post customer invoices 1005 to 1008
    05:00
  • Enter sales credit notes
    03:58
  • Customer account activity
    03:36

  • Post Supplier invoices
    13:26
  • Post Supplier Credit Notes
    05:08
  • Supplier account activity report
    03:56

  • Supplier payments report
    04:02

  • Receive customer payments
    06:13
  • Report customer receipts
    01:27

Instructor

Lisa Newton
Entrepreneur, Infopreneur & Serial Author
Lisa Newton
  • 3.9 Instructor Rating
  • 2,705 Reviews
  • 15,258 Students
  • 113 Courses

Lisa Newton BA MSc AAT has a masters degree in Investment Management and a first class honours degree in Accounting with Marketing. She formed her first company in 2004 with £150 in the same month of graduating from City University, London UK. Lisa has never had a full time 9 to 5 job in her life. She's a serial entrepreneur and author who holds directorships in various industries including telecoms, property management, publishing, hair & beauty as well as finance. She has won various awards in Business including: Young Entrepreneur of the Year Award 2007, in 2008 Enterprising Business Award, in 2016 BE Mogul Award and has been nominated and shortlisted in numerous others. In 2011 and in 2012 one of her companies won Best Accounting Franchisor Award. In 2015 and 2017 one of her companies won Best Bookkeeping Business London (Accountancy International Awards).

Lisa's books include: How to write a book in two weeks, Constant Cashflow, Make the most of your money, How to start your own bookkeeping business, Cosmic ordering with Vision Boards, How to Franchise Your Business and Quickbooks Online The Handbook. Some of the books are in audio-format on itunes and audible.

Lisa hosts her own show The Authors Podcast which can be found on the iTunes channel.

Lisa supports the charity The MS Society. A speaker, coach, consultant and an avid networker, Lisa enjoys meeting people and working on projects with like-minded individuals.

In her spare time, Lisa likes traveling, dancing salsa, writing books, learning languages, meditation, yoga and cosmic ordering.

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