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Just for Bookkeepers and Accountants

Next-Level Accurate Accounting


Course
Alicia Katz Pollock
Purchase for $39

Learn indispensable advanced accounting techniques that bookkeepers rely on to increase the accuracy of a company's financial reports.

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!

Instructional Level

Intermediate through Advanced

Course Length

2 hours

CPE Credits

2 CPE, Certificate of Completion

Delivery Method

QAS Self Study 

Field of Study

Accounting

Prerequisites

Who should take this accounting and bookkeeping class?

  • Bookkeepers and Accountants who strive for complete accuracy in the Balance Sheet and Profit & Loss Statement

What should you bring?

A pen. No computer is necessary.

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

 

 

For more information regarding concerns, refunds, and program cancellation policies, visit our Terms and Conditions.

Here is the course outline:

1. Download the Handout

Download your class handout here

pageText Download the handout here

2. Introduction and Agenda for Next-Level Accurate Accounting

This is the recording of the class you attended. Watch and rewatch it until it all makes sense!

pageText Intro and Agenda

3. Cash vs Accrual Accounting

Cash 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.

pageText What's the Difference?
pageText What the difference looks like in QBO
pageText Unapplied Cash Payment Income and Expense

4. Adjusting Past Periods

In 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.

pageText Fixing A/R and A/P Errors
pageText Write Off Invoices: Cash, No Sales Tax
pageText Write Off Invoice: Accrual, with Sales Tax
pageText Vendor Credit - Accrual

5. Journal Entries

Journal Entries are often used incorrectly. Alicia will highlight the important differences of when to use a JE and when not to.

pageText When to use and when NOT to use Journal Entries
pageText Journal Entries: QBO Example
pageText Using Journal Entries and Recurring Transactions for Prepaid Expenses
pageText Allocating Payroll and Contract Labor to Projects
pageText Year-end JE's for Classes

6. Zero Dollar Transactions

What 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.

pageText Zero-Dollar Daily Sales Receipts
pageText Zero-dollar Checks: Inventory
pageText Zero-dollar Checks: Bartering

7. Construction Retainage

"Construction retainage is fun!" said no one...except Alicia. Learn to withhold payments until construction jobs are completed.

pageText Retainage Money Held During a Project

8. Managing Equity

Different business formation types require different terminology and end-of-year management. Alicia's explanations include her theory of the "Bank of Bob."

pageText Equity Terminology
pageText Retained Earnings
pageText Bank of Bob
pageText Closing Equity at Year End

9. Conclusion

What'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.

pageText CPE, Quiz, Ask Questions, Rate, Rewatch, Review, Refer and Reward

10. Quiz and CPE Credit

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!

pieChart Complete this survey for CPE Credit
quiz Next-Level Accounting Quiz

Completion

The following certificates are awarded when the course is completed:

Royalwise Credit Certificate
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