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Year-End Cleanup for Tax Time Course


Course
Quantity
For someone else
Alicia Katz Pollock
Quantity
For someone else
Purchase for $74 or enter access code

10 steps for year-end bookkeeping to get ready for taxes: clean up QuickBooks, reconciliation, inventory, depreciation, analyze reports, and close the books.

Year-End Clean Up in QBO Taxes Course Description

Tax time approaches! We’ll show you the 10 steps you need to do to get your books ready for your accountant to do your taxes. Not only will you close your books, but we’ll show you how to analyze your business to help it grow next year. Who are your best customers? What are your best sellers? Who owes you money, and who do you owe? We’ll customize your reports and memorize your favorites for future use.

You’ll Learn About:

  •   Steps to take at year end to make sure your books are right
  •   Categorizing Expenses
  •   Reconciling bank accounts
  •   Closing out Opening Balance Equity and Owner’s Equity
  •   Depreciation
  •   Running your P&L and Balance Sheet
  •   Taking Inventory
  •   Closing the books
  •   Making backups

 After completing this course, you will be able to: 

  • Locate and fix incorrectly categorized transactions
  • Confirm that bank balances are accurate
  • Close out owner equity
  • Adjust inventory totals for the year
  • Run reports for business analysis and taxes
  • Perform year-end closing actions on your file

 

 

Instructional Level

Intermediate

Course Length

2 hours

Course Credits

2 CPE, Certificate of Completion

Field of Study

Accounting

Delivery Method

QAS/Self Study/Group Internet

Who should take this class?

  • Business owners and employees who maintain their company’s financial records
  • Bookkeepers and Accountants who wish to brush up on their skills.

 

Other learners enrolled in these courses after completing this class: 

Explore new topics & join the hundreds of other business owners & accounting professionals who have enrolled in these courses after completing this class!

   

 

Want this course for FREE? Unlock this course & more for no extra cost with an OWLS Membership!

Get instant access to ALL of Alicia's QuickBooks courses for FREE when you become a silver member - it's the perfect way to maximize your learning!

Discover why so many business owners & accounting professionals are taking advantage of a Royalwise OWLS membership to gain valuable skills, earn CPE credit, & make more money.

With a Royalwise OWLS membership you’ll have the tools & support you need to achieve your business & professional goals. Enroll today to join a community of like-minded individuals & take advantage of all the benefits an OWLS membership has to offer!

 

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: November 2022

Course Page Updated: January 2023

Here is the course outline:

1. Download the Handout

Download the handout that goes with the course.

pageText Download the handouts here

2. Year-End Cleanup for Tax Time (2023)

Tax time approaches and it's time to Spring Clean your QuickBooks so that you can have confidence in your data before you give it to your CPA! Here are the tools created for bookkeepers to make the job easier.

Biz View vs Accountant View
1 - Intro, Agenda, and Overview
2 - Why Do a Year-end Cleanup?
3 - QBOA's Bookkeeping Tools
4- Confirm A/R and A/P
5- Confirm Undeposited Funds
6- Reconcile Properly
7- Categorize Transactions Properly
8- Adjust Inventory
9- Depreciation and Amortization
10- Resetting Equity
11- Closing the Books
12- Analyze Your Reports
13- Backing Up QBO

3. Year-End Cleanup for Tax Time

Tax time approaches and it's time to Spring Clean your QuickBooks so that you can have confidence in your data before you give it to your CPA! Here are the tools created for bookkeepers to make the job easier.

pageText Intro and Agenda
Biz View vs Accountant View
pageText Why Do a Cleanup
pageText QBOA's Bookkeeping Tools
pageText Reclassify Transactions

4. 10 Step Cleanup

Let's look at the 10 steps you need to do to get your books ready for your accountant to do your taxes. Not only will you close your books, but we’ll show you how to analyze your business to help it grow next year.

pageText Confirm AR / AP
pageText Confirm Undeposited Funds
pageText Adjust Inventory
pageText Reconcile Properly
pageText Categorize Transactions Properly
pageText Depreciation and Amortization
pageText Resetting Equity
pageText Closing the Books
pageText Making a Backup
pageText Analyze Your Reports
pageText Conclusion - What's Next?
quiz Review Questions: Year-End Cleanup for Tax Time

5. 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 Quiz: Year-End Cleanup for Tax Time
pieChart Evaluation & Participation Survey
quiz Participation Quiz

Completion

The following certificates are awarded when the course is completed:

Royalwise CPE Certificate
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