QBO: The Chart of Accounts Course
Learn to set up your QuickBooks Chart of Accounts according to accounting principles: bookkeeping terms, general ledger, Balance Sheet, and P&L statements.
The QuickBooks® Chart of Accounts structures your business according to accounting principles. Your general ledger includes assets, liabilities, equity, income, and expenses. Take this class to learn bookkeeping terms like Accounts Receivable and Accounts Payable. By the end of this course, you’ll know how to read a Balance Sheet and a Profit and Loss report, as well as how to structure your Chart of Accounts so it supports your unique business workflow.
Your Chart of Accounts is the backbone of your business. It has two functions: outlining what the IRS wants to see for taxes, and allowing you to generate your P&L and Balance Sheet reports. There are industry-standard accounts you need, but you also have the flexibility to create accounts that reflect your unique circumstances. It’s impossible to start using QuickBooks® without customizing your Chart of Accounts. This class will explain the fundamentals.
Who should take this course?
- Business owners and employees who want to understand the “business behind business”
- Students and job-seekers will boost their employment marketability
- Entrepreneurs and new business owners who are just getting started, and want to make sure they have solid business knowledge so that they can succeed
- Bookkeepers and Accountants who wish to brush up on their skills.
What You’ll Learn
- The function of the Chart of Accounts
- Creating new accounts and editing existing accounts
- Equity accounts
- Liability accounts
- Asset accounts
- Bank accounts
- Credit card accounts
- Income accounts
- Cost of Goods accounts
- Expense accounts
- Other Income accounts
- Other Expense accounts
- Accounts Receivable
- Accounts Payable
- Undeposited Funds
- Understanding a Profit and Loss Statement
- Understanding a Balance Sheet
Here is the course outline:
1. Download the Handout
Click the links below for instructions.
2. Watch the Videos: QBO Chart of Accounts
This is the recording of the class you attended. Watch and rewatch it until it all makes sense!
3. 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!
The following certificates are awarded when the course is completed:
|Royalwise Credit Certificate|