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This course will teach you how to maintain your own books of accounts by using Wave Accounting software.
This course includes accounting activities done in Wave Accounting like creating chart of account,creating an invoice,bills,expenses, reconciliation of bank statement or understanding various Wave reports
This course is explained with the help of screen cast and all the process or activities are shown stepwise through examples
This course is meant for small business owner and professional who wants to maintain their own books of accounts through Wave Accounting.
Whether you are a non finance person or finance person , this course will help you understand accounting activities in Wave Accounting better by providing you the knowledge on the basics concepts of accounting.
At the end of this course, you will be able to-
1) Set up your own books of account in Wave Accounting
2) Manage and create customer master ,invoices and receive payment through Wave
3) Manage and create vendor master and book various type of expenses
4) Perform bank reconciliation independently.
5) Understand various reports in Wave
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Desktop, iOS and Android.
Certificate of completion.
|Section 1: 1.Introduction to the Course|
|Welcome to the course! This is a course on how to maintain your business and personal books of accounts on Wave Accounting (A FREE Cloud accounting software) and take a full control of your finances along with your business|
|Section 2: 2.Basics of Accounting|
In this lecture you will learn about the principle and rules of accounting which will inturn help you work easily with Wave Accounting.
In this lecture,we are going to apply the rules of accounting learnt in the previous lecture through examples
Basic Concepts of Accounting Quiz
|Section 3: 3. Features of Wave Accounting used in day-day Activities by the Entrepreneurs.|
|The first and the foremost activity in Wave Accounting is to set up the company, define the nature of the business.In this lecture, we are going to learn how to set up a company in Wave accounting|
|One of the very important feature of Wave accounting is automatic update of transaction directly from bank and credit card account.In order to ensure automatic update, we need to link the bank & credit card accounts to your Wave Account. In this lecture, we are going to see how to link the bank or credit card account to Wave account.|
|Complete records of customer can be maintained in Wave Accounting.In this lecture, we are going to see how to create customer account and how to import all the customer records, if you are shifting to Wave Accounting for maintaining books of accounts.|
Recording of invoice is an important activity of the business. In this lecture we will see how to record invoices.
In this lecture, we will learn how your customer can make payment with their credit card through Wave
|Now you can upload all the receipts directly into Wave by taking a photo from your smart phone and do not need to preserve any paper receipts for future use.|
Bills can be recorded and can be send to the vendor directly through email.In this lecture we will see how to record expense and classify in the right account.
Wave has a very unique feature in which it allows to maintain multiple companies books along with your personal books in the same account separetely.
|In order to ensure security, different types of access right can be given to different user depending upon the level of information requirement.All this access rights can be managed by the administrator.In this lecture we going to see how to manage and give access rights to different users.|
You can find an Accountant to maintain your books of accounts through the wave accountants network,in this lecture ,you will see how you can locate your accountant
Practice activities for Section-3
|Section 4: Accounting in Wave|
|Chart of accounts are created depending upon nature of the business , the income and expenses needs to be allocated to proper accounts so that the same can be identified. In this lecture, we will look at the steps of how to create chart of accounts.|
Recording of previous year’s data would be a challenge, which can be resolved by using the Wave Accounting feature of uploading data in specified format.In this lecture, we going to focus on how to upload and retain the previous years data.
|Fund are transferred between one bank account to another bank account and also fund are transferred from bank to paypal or credit card accounts to make payment of outstanding bills etc.In this lecture we will see how to transfer fund from one account to another in Wave|
|Income and expenses should be correctly categorized in order to ensure proper maintainance of books of accounts.In this lecture we will learn to properly categorize the expenses and incomes.|
|In this lecture , we will learn how to record Journal entries that may required during the month end adjustments|
Setting of Financial Year End.
Merge Duplicate transactions
Setting up of Sales tax in Wave
Splitting of transactions between Personal and business Expenses and Income
Unlinking transfer Entries
Reconciliation is an important activity that needs to be carried out in order to ensure that there is no difference between the record in the quickbooks and the bank.In this lecture we will see how to do reconciliation in Wave Accounting.
Practice activities for Section-4
|Section 5: Understanding the various reports in Wave Accounting|
Financial Report in Wave for Business use.
I am a chartered Accountant with 8 years of experience in the field of accounting,I have worked as a consultant on various accounting softwares.I am sharing my practical experiences in the field of accounting by teaching through Udemy platform.I am very passionate about numbers and learning about the various accounting softwares and so I have combined my passion and experience to spread the knowledge about accounting through teaching