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Learn indispensable advanced accounting techniques that bookkeepers rely on to increase the accuracy of a company's financial reports.
Next Level Accurate Accounting Course Description
Ready to go beyond the basics? For you, entering standard business transactions into QuickBooks Online is now routine. However, that’s just the beginning!
It’s time to learn indispensable and invaluable intermediate and advanced accounting techniques that bookkeepers use to increase the accuracy of a company's financial reports.
QBO Rock Star Alicia Katz Pollock has designed this course to be extremely accessible so that you can comfortably take a deeper dive into important accounting techniques.
She'll make sure you understand the difference between cash and accrual accounting, how to adjust inventory, when and when not to use Journal Entries, the ramifications of voiding transactions, how to manage Prepaid Expenses, and how to manage Equity for a variety of business formations.
Knowing how to confidently use these techniques will refine your clients’ financial reports and take them to the next level.
Sign up today!
After completing this course, you will be able to:
- Perform adjustments to a company’s books for taxes and compliance
- Reassign funds across categories and classes using journal entries
- Manage year-end equity allocations
- Accommodate cash vs. accrual reporting needs
What You’ll Learn
- The difference between Cash vs. Accrual Accounting
- Uncategorized Cash Payment Income & Expenses
- Zero-dollar checks for Inventory Valuation adjustments
- Journal Entries - when to use them, when NOT to use them, and what to do instead.
- Allocating Overhead Expenses across Classes
- Prepaid Expenses - how to spread a large expense throughout the year instead of booking it all at once
- How to Void transactions in past periods
- Retainage in construction
- How to set up Equity accounts for Sole Proprietors, Partnerships, and S-Corps.
- How to close Equity accounts at year’s end
Instructional LevelAdvanced
Course Length2 hours
Course Credits2 CPE, Certificate of Completion
Field of StudyAccounting Delivery MethodQAS/Self Study Who should take this class?
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Silver membership pays for itself in just two courses per month!
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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: December 2021
Here is the course outline:
1. Download the HandoutDownload your class handout here 1 section
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2. Introduction and Agenda for Next-Level Accurate AccountingThis is the recording of the class you attended. Watch and rewatch it until it all makes sense! 2 sections
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3. Cash vs Accrual AccountingCash or accrual? Which one is your business? Watch this section of videos and learn all about the differences, advantages, and how the IRS classifies your business. 3 sections
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4. Adjusting Past PeriodsIn this section of videos, Alicia demonstrates how to fix A/P and A/R issues from past reporting periods, and how to write off invoices based on whether your business is cash or accrual. Alicia also goes over Vendor Credits. 4 sections
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5. Journal EntriesJournal Entries are often used incorrectly. Alicia will highlight the important differences of when to use a JE and when not to. 5 sections
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6. Zero Dollar TransactionsWhat is a zero dollar transaction? Alicia will guide you through the next level of accounting with these transactions. Learn to use Zero-dollar Sales Receipts, and zero-dollar checks for inventory adjustments and bartering. 3 sections
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7. Construction Retainage"Construction retainage is fun!" said no one...except Alicia. Learn to withhold payments until construction jobs are completed. 1 section
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8. Managing EquityDifferent business formation types require different terminology and end-of-year management. Alicia's explanations include her theory of the "Bank of Bob." 4 sections
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9. ConclusionWhat's next? Get your CPE credit and your certification of completion. As you know, businesses rely on referrals, reviews, and ratings. Leave a review, rating, refer a friend, and we will reward you with some cool prizes. 2 sections
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10. Quiz and CPE CreditTake 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! 4 sections
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Completion
The following certificates are awarded when the course is completed:
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Royalwise CPE Certificate |
