Earle McEwen - M.Acc., CPA
(208)323-4240
mcewencpa@me.com
About Earle . . .
•
•
•
•
•
Bachelor’s in Accounting - BYU
Master’s in Accounting - BYU
Over 30 years experience as a CPA
Intuit Accountant Advisory Council 2004 - 2006
Member - Idaho Society of Certified Public
Accountants
• QuickBooks Pro-Advisor - Certified, Advanced
Certified, and Enterprise Certified Levels.
Introductions
Your Name
Your Company Name
What does your company do?
Why are you taking this class?
The Plan For The Day
•
•
•
•
Cell Phones
Restrooms
Schedule: 8:30 AM – 4:30 PM
2 breaks and some stretches
Teaching Approach
• See, then do . . .
– Instructor on the screen.
– Students on individual computers.
• ASK QUESTIONS ANY TIME!!!!
• Practice leads to a deeper
understanding of the software.
Lesson 1: Getting Started
• Course Overview
• What is QuickBooks?
• Navigating QuickBooks
– Pull-down Menu
– Icon Bar
– Navigator
• Centers and Customization
– Customer, Vendor, Employee
Lesson 1: Getting Started
• Company Snapshot
• Using Forms, Lists, Registers
• Accounting 101
– Balance Sheet
– Income Statement
– Statement of Cash Flows
– Cash v. Accrual
– Ctrl + “Y” (or “Journal Button”)
Lesson 1: Getting Started
• Help (F1, Help Icon, Help Menu)
• Getting Started Center (View
Preference)
• Exiting QuickBooks
Lesson 1: Getting Started
•
Versions of QuickBooks
– Pro (Max. 3 Users)
• Pro v. Premier
– Premier (Max. 5 Users)
•
•
•
•
•
•
Accountant
Contractor
Manufacturing & Wholesale
Retail
Professional Services
Non-Profit Organization
– Enterprise (Max. 30 Users)
• Same industries as above
– QuickBooks Pro for Mac
• Uses Online Payroll
– QuickBooks Online Edition
Agenda - Level 1
8:30 – 9:30
9:30 – 10:30
10:30 – 10:45
10:45 – 11:30
11:30– 12:30
12:30 – 1:30
1:30 – 2:15
2:15 – 3:00
3:00 – 3:15
3:15 – 3:45
3:45 – 4:30
1: Getting Started
2: Setting up QuickBooks and Using File Functions
BREAK
3: Preferences
4: Working with Lists
LUNCH
5: Customers and Revenue Cycle Part I
6: Customers and Revenue Cycle Part II
BREAK
7: Working with the Banking Function
8: Vendors and the Disbursement Cycle
Agenda - Level 2
8:30 – 9:00
9:00 – 10:00
10:00 – 10:30
10:30 – 10:45
10:45 – 12:30
12:30 – 1:30
1:30 – 2:15
2:15 – 3:00
3:00 – 3:15
3:15 – 3:45
3:45 – 4:30
9: Special Banking and Disbursement Functions
10: Inventory Purchases, Receipts, and Adjustments
11: Journal Entries and Progress Invoicing
BREAK
12: Reporting and Analyzing Financial Data
LUNCH
13: Employees and Payroll in QuickBooks
14: Tracking Time in QuickBooks
BREAK
15: Customizing Forms and Writing Letters
Review and Questions
Pacioli - the Father of Accounting
• Born 1447, Tuscany Italy, became
Franciscan Friar 1472-1475
• In accounting, everything is recorded twice.
• Debits Must = Credits
• QuickBooks does the second entry for
you automatically--for FREE (except on
journal entries)
Accounting 101
(on one page!)
BALANCE SHEET
What we have, either we owe . . .or its ours!
Assets
=
Liabilities
+
Equity
debit
+
credit
debit
-
-
credit
+
debit
-
credit
+
PROFIT AND LOSS OR INCOME STATEMENT
What we earn, less what it cost = what is left for us.
Income
Expenses
= Net Income
debit
-
credit
+
debit
+
credit
-
CASH vs. ACCRUAL
Income Rule Expense Rule
CASH
ACCRUAL
When cash is
received.
When check is
written.
When goods are
shipped.
When goods are
received.
Lesson 2: Company Setup
•
•
•
•
•
•
•
•
How many companies should you create?
EasyStep Interview Process
Choosing a start date
Entering bank accounts and opening balances
Adding customers and balances
Adding vendors and balances
Setting up additional accounts
Adding items
Lesson 3: Lists
•
•
•
•
•
•
•
•
•
•
Editing the Chart of Accounts (Sub-Accounts)
Adding Customers & Jobs
Adding Employees
Adding Vendors
Using custom fields for Customers, Vendors, Employees
Sorting lists
Merging items
Renaming items
Deleting or inactivating items
Adding multiple items at one time.
Lesson 4: Bank Accounts
•
•
•
•
•
Writing a check
Transferring money between accounts
Reconciling bank accounts
Using the Find feature
Watch for old outstanding checks
Lesson 5: Other Accounts
•
•
•
•
•
•
Credit Card Accounts (Enter, Pay, Reconcile)
Other Asset Accounts
Fixed Asset Accounts
Recording Depreciation
Liability Accounts
Equity Accounts
Lesson 6: Sales Information
•
•
•
•
•
•
•
•
•
•
•
Invoices (expect payment in the future)
Sales Receipts (payment now)
Statements (summary of activity, reminder)
Templates (intro only, customize in lesson 15)
Entering a Service Item
Price Levels
Generating Statements, Assess Finance Charges/Letters
Sales Orders
Invoicing Against Sales Orders
Tracking Backorders (Premier Acct - Retail, Mfg Only)
Receiving Items
Lesson 7: Payments & Deposits
• Recording Customer Payments
• Undeposited Funds
• Making Deposits
Lesson 8: Enter/Pay Bills
•
•
•
•
•
•
Write manual checks (Lesson 4)
Record debit card payments
Write and print QuickBooks checks
Enter bills to pay later
Pay with a credit card (Lesson 5)
Electronic payments
Lesson 8: Enter/Pay Bills
• Write Check
– Increase expense and decrease cash
• Enter Bill
– Increase expense and increase accounts payable.
• Bill Payment (not a check, but a bill payment check)
– Decrease accounts payable, decrease cash
– Do not forget there is bill in the system and accidentally write a
check to pay that bill. Must use bill payment function.
• Do not enter bills for loan payments or credit card
payments.
DAY TWO – YAHOO!!!
Agenda - Level 2
8:30 – 9:00
9:00 – 10:00
10:00 – 10:30
10:30 – 10:45
10:45 – 12:30
12:30 – 1:30
1:30 – 2:15
2:15 – 3:00
3:00 – 3:15
3:15 – 3:45
3:45 – 4:30
9: Special Banking and Disbursement Functions
10: Inventory Purchases, Receipts, and Adjustments
11: Journal Entries and Progress Invoicing
BREAK
12: Reporting and Analyzing Financial Data
LUNCH
13: Employees and Payroll in QuickBooks
14: Tracking Time in QuickBooks
BREAK
15: Customizing Forms and Writing Letters
Review and Questions
Lesson 9: Analyzing Data
•
•
•
•
•
•
•
QuickReports, ZOOM
Modifying and Memorizing Reports
Export to Excel. Save As .PDF or Email
Report Center
Especially Useful Pre-set Reports
Process Multiple Reports
Graphs (Useless!!!)
Lesson 10: Inventory
•
•
•
•
•
•
•
•
Preferences
Entering Items (See Blueprint)
Purchase Orders
Receiving Inventory
Entering a Bill for Inventory
Adjusting Inventory
Assemblies (Premier or Higher)
Units of Measure (Premier - Cont., Mfg.)
Lesson 11: Sales Tax
•
•
•
•
•
Preferences
Create Sales Tax Items
Taxable, Customer, Item, Invoice
Liability Reports
Paying Sales Tax
Lesson 12: Payroll
• Overview
– Enhanced 3 Users for $236, Unlimited for $316
– Online $39/Month +$1.50/Employee
•
•
•
•
•
Set-up Preferences and Defaults
Enter Employees
Paying Employees
Tracking Liabilities
Paying Taxes
Lesson 13: Estimating and
Progress Invoicing
•
•
•
•
•
Preferences
Creating Jobs and Estimates
Creating an Invoice from an Estimate
Invoices vs. Estimates Reports
Updating Job Status
Lesson 14: Tracking Time & Mileage
•
•
•
•
Preferences
Tracking Time and Mileage
Time by Job Reports
Invoicing Customer for Time and Mileage
Lesson 15: Customizing Forms/Letters
• Customizing Invoices
• Using QuickBooks Letters
QuickBooks Blueprint
Account|Customer/Job|Class
PAYCHECK
BALANCE
SHEET
PAYROLL ITEM
ACCOUNT
TIMESHEET
INVOICE
ITEM
ITEM
CHECK
BILL
ITEMS:
PROFIT &
SERVICE
NON-INVENTORY
OTHER CHARGE
SUB-TOTAL
GROUP
DISCOUNT
PAYMENT
SALES TAX
SALES TAX
GROUP
INVENTORY
LOSS
OR
INCOME
STATEMENT
CHART OF
ACCOUNTS
GENERAL
LEDGER
MANY
OTHER
REPORTS
ACCOUNT
P.O.
Job Cost Reports
DEPOSIT
LISTS: VENDORS, EMPLOYEES, CUSTOMERS:JOBS(PROJECTS), CLASS

1997 Earle McEwen M.Acc., CPA