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QuickBooks® Training Library

Accrual Accounting in QuickBooks Online


Course
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For someone else
Alicia Katz Pollock
Quantity
For someone else
Purchase for $90 or enter access code

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

What You’ll Learn 

  • The difference between Cash vs. Accrual Accounting

  • Zero-dollar transactions for inventory valuation, bartering, and daily sales receipts

  • Creating Vendor Credits involving inventory

  • Managing Construction Retainage

  • Journal Entries - when to use them, when NOT to use them, and what to do instead.

  • Allocating Overhead Expenses across Classes

  • Prepaid Expenses and Deferred Revenue - how to spread large transactions throughout the year instead of booking it all at once

  • How to Void transactions in past periods

  • Writing off accrual invoices

  • How to set up Equity accounts for Sole Proprietors, Partnerships, and S-Corps. 

  • How to close Equity accounts at year’s end

 

After completing this course, you will be able to: 

  • Identify adjustments to a company’s books for taxes and compliance

  • Differentiate between cash vs. accrual reporting needs

  • Recognize how to use journal entries appropriately

  • Recall how to create year-end equity allocations

 

Accrual Accounting in QBO 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.

 

 

 

 

 

 

 

 

 

 

Instructional Level

Advanced

Course Length

3 hours

Course Credits

3 CPE, Certificate of Completion

Field of Study

Computer Software & Applications

Delivery Method

QAS Self Study

Who should take this class?

  • Bookkeepers and Accountants who strive for complete accuracy

    in the Balance Sheet and Profit & Loss Statement

 

Prerequisites

  • Our "QuickBooks® Online Fundamentals” On-Demand video course, or 

  • Our “Bookkeeping’s Tricky Situations” course, or

  • Prior QuickBooks® Online experience.

 

Advance Preparation 

None

 


What people are saying about this 'Next-Level Accurate Accounting' course:

Discover the overwhelming praise as past learners share their experiences with this course. See all the reviews by clicking the 'Reviews' tab near the top of this page.

 

Evergreen Access (Made to Stay Current)

Your purchase is designed to stay useful long after you finish the course! As the software changes, we refresh the content so you’re not learning from outdated screens. You’ll also have access to the class discussion/Q&A so you can ask questions when real-life situations pop up. And because it’s lifetime access, you can revisit the videos, handouts, and materials anytime you need a quick refresher.

 

Live Session + Replay Included

If you can’t attend at the scheduled time, go ahead and enroll—your live registration includes free access to the on-demand replay. We record every live class and post an edited version to the course page within two weeks of the class date. Once it’s available, you’ll receive a notification inside your OWLS portal.

While the replay is being published, you can download the notes/handouts and complete any quizzes or questionnaires so you’re ready to follow along when you watch.

 

 

 

 

 

 

 

 

 

 

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: 3 CPE, Certificate of Completion. Must be awarded within one year of enrollment.
Course Updated: March 2026
Course Page Updated: March 2026

 

 

 

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Here is the course outline:

1. Download the Handouts: Required for CPE Credit

Download your class handouts here, required for CPE credit.

3 sections
Handout: Accrual Accounting (required for CPE)
Glossary
The Royalwise Accounting Dictionary

2. Watch the Videos: Accrual Accounting in QBO (2026)

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

20 sections
Introduction and Agenda
Cash vs Accrual Accounting: Knowing the Difference
Unapplied Cash Payment Income/Expense
Adjusting Past Periods for Cash Based
Adjusting Past Periods for Accrual Based
Journal Entries
Zero Dollar Transactions
Prepaid Expenses / Transactions
Deferred Revenue
Review 1: Advanced Bookkeeping
Revenue Recognition in QBO Advanced
Job Costing Allocations
Allocating Overhead
Zero Dollar Sales Receipts
Zero Dollar Checks: Inventory
Zero Dollar Checks: Bartering
Equity Terminology
Bank of Bob: Solutions to Commingling
Closing Equity At End of Year
Review 2: Advanced Bookkeeping

3. 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!

2 sections
Quiz: Advanced Bookkeeping
Evaluation & Participation Survey

Completion

The following certificates are awarded when the course is completed:

Royalwise CPE Certificate
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