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QBO Video Courses

Bookkeeping Tricky Situations

Alicia Katz Pollock
Purchase for $54

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

Advanced Bookkeeping Online Training Class 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.


What You’ll Learn in This advanced bookkeeping training:

  • 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 to Advanced

Course Length

2 hours

Course Credits

2 CPE, Certificate of Completion

Field of Study


Delivery Method

QAS/Self Study


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


Other learners purchased these courses after completing this class:  




Why pay full price? Sign up for a Royalwise OWLS Membership
and get this course and more for one low monthly price.
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 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:


Course Updated: December 2021

Here is the course outline:

Download the Handout

Download the handout that goes with the course.

pageText Download the handout here
pageText PowerPoint Slides

Getting Started: Bookkeeping's Tricky Situations

Let's get started!

pageText Getting Started


It's important to track your business & personal trades with your customers and vendors.

pageText Business vs Personal Bartering
pageText Setting up QBO for Barter

Bounced Checks

What do you do when a customer bounces a check? What should you do when you bounce a check?

pageText Customer Bounced Checks: Setup Steps
pageText Processing the Bounced Check and Getting Reimbursed
pageText When Your Own Checks Bounce

Car Loans and Lines of Credit

Loans and Lines of Credit need to be managed properly in QBO!

pageText Loan Setup Steps
pageText Making Loan Payments
pageText Line of Credit Setup Steps
pageText Making LOC Payments

When It's Opposite Day

These three scenarios all involve negatives when you need a positive...or debits when you need credits...

pageText Negative Merchant Service Deposits
pageText Vendor Refunds for Goods & Services
pageText Corporate Credit Cards
pageText Taking Client Deposits on Work to Be Performed

Take the Quiz

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 Review Questions: Tricky Situations
quiz Quiz: Tricky Situations
pieChart Evaluation & Participation Survey
quiz Tricky Situations Quiz


The following certificates are awarded when the course is completed:

Royalwise Credit Certificate
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