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Tricky Situations in QBO


Course
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For someone else
Alicia Katz Pollock
Quantity
For someone else
Purchase for $54 or enter access code

Practical bookkeeping workflows for complex transactions: loans, line of credit, barter, bounced checks, customer deposits, negative batches, and vendor credits.

(Click play to watch the course spotlight - 2mins)

 

Tricky Situations In QBO Course Description

There's always an exception to the rule. And there's always an exception to the exception!

 

It’s one thing to master routine bookkeeping techniques, but it’s completely something else to use QuickBooks for rare business transactions. Royalwise understands these tricky situations and has designed this course to make the complex simple and easy for you.

 

In this special QuickBooks® Online class, we’ll start with everyday business transactions like Loans and Lines of Credit. Then we’ll talk about more complex situations: How do you track Bartering to stay IRS-compliant? How do you book bounced checks, either your own or from a customer? What do you do when a daily credit card batch is negative? How do you process a Vendor refund when inventory is involved? We'll also explore Recurring Transactions and other time-saving Tips and Tricks.

 

If you've come across even a few of these tricky situations, it's time to sign up now and take this course so you that you'll gain the confidence that you are handling them correctly and efficiently.

 

 After completing this course, you will be able to: 

  • Set up and manage loans and lines of credit
  • Manage barter transactions
  • Handle bounced checks
  • Create complex customer and vendor refunds
  • Manage corporate credit cards with subaccounts
  • Use Prepaid Expenses to spread out large expenses over time
  • Use QBO creatively in unusual situations

 

In Tricky Situations In QBO, You’ll Learn

  • How to add situation-specific accounts to the Chart of Accounts
  • How to manage a Line of Credit
  • How to separate out Loan payments for principal, interest, and debt protection insurance
  • How to process Bounced Checks, both your customers’ and your own
  • How to track Bartering, so you can track your true income and your expenses even though no money has changed hands
  • What to do when your daily credit card batch is negative
  • How to process Vendor Refunds when they involve Products & Services
  • How to memorize transactions, so the next time you don’t need to remember what you did last time
  • Valuable tips and tricks to shave time off your daily tasks

 

Instructional Level

Intermediate

Course Length

2 hours

Course Credits

2 CPE, Certificate of Completion

Field of Study

Accounting

Delivery Method

QAS/Self Study

Prerequisites

Who should take this class?

  • Bookkeepers and Accountants with e-commerce clients.
  • Business owners who take payments using PayPal, Square, and Etsy
  • Prior QuickBooks® Online experience

 

Want A Sneak Peak?

Watch a 10-minute preview to see if this course is right for your situation.

(Click the video above to watch a 10 min. sample of this class)

 

Other learners purchased these courses after completing this class:  

 

 

Want this course for free? Sign up for a Royalwise OWLS Membership to get this course & more for no additional cost.

"OWLfred says, "Silver membership pays for itself in just two courses per month!"

 

 


 

Refunds & Cancellations

Please view our Terms of Service, for information on refunds, cancellations, and complaint resolution. To request a refund, please contact us.

 

Royalwise Solutions Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

 





Course Credits: 2 CPE, Certificate of Completion. Must be awarded within one year of enrollment.

Course Updated: September 2022

Here is the course outline:

Download the Tricky Situations Handouts

Download the handout that goes with the course.

pageText Download the handouts here

Watch the Videos: Bookkeeping's Tricky Situations 2022

Practical bookkeeping workflows for complex transactions: loans, line of credit, barter, bounced checks, customer deposits, negative batches, and vendor credits.

Introduction and Agenda
Biz View vs Accountant View
Loans
Lines of Credit
Bartering
quiz Review Questions: Bartering
Bounced Customer Checks
Bouncing Your Own Checks
Negative Merchant Service Deposits
Refunding Customer Credits
Vendor Refunds for Goods
Corporate Credit Cards
Clearing Transfers
Taking and Working with Deposits
Conclusion - What now?
quiz Review Questions: Bookkeeping Tricky Situations

Take the Quiz: Tricky Situations in QBO

Take this quiz to demonstrate your mastery of the material. Pass the quiz with an 80% or higher to complete the Course, earn your Certificate, and win points!

quiz Quiz: Bookkeeping Tricky Situations
pieChart Evaluation & Participation Survey

Completion

The following certificates are awarded when the course is completed:

Royalwise CPE Certificate
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