Skip to content
QBO Video Courses

Accounting 101: What Every Bookkeeper Needs to Know

For someone else
Kathy Grosskurth
For someone else
Purchase for $81 or enter access code

Learn Double-Entry Bookkeeping Concepts through practical exercises. Kathy Grosskurth teaches the accounting equation, how Debits and Credits work using T-Accounts, the accounting cycle, business entity types, and internal controls. Sponsored by Liscio.

What you will learn: 

  • Accounting vs Bookkeeping
  • The Accounting Cycle
  • Business Entities
  • Separate Entity Assumption and Internal Controls
  • Double-Entry Bookkeeping Defined
  • Chart of Accounts
  • Accounting Equation
  • Financial Statements


Instructional Level


Course Length

3 hours

Course Credits

Certificate of Completion

Field of Study


Delivery Method

QAS/Self Study

Who should take this class?

  • Beginning bookkeepers who are self-taught


Accounting 101: What Every Bookkeeper Needs to Know Description 

Having solid bookkeeping chops means more than knowing what buttons to push in QuickBooks Online.

QBO does the double-entry accounting for you behind the scenes, but understanding what it’s doing with debits and credits every time you create a transaction is crucial to your long-term success.

Daily bookkeeping may no longer be writing individual ledger accounts in a manual bookkeeping system, but the results are still the same.

Kathy Grosskurth is a debit to the industry. In this 3-hour class, not only will she walk you through practical accounting exercises, but you’ll gain the fundamental knowledge you need from beginning to end, literally.

Topics include demonstrating the pros and cons of the three general business entity types, and understanding the importance of the chart of accounts in our accounting records so that you’re categorizing transactions into the right buckets.

We’ll also talk about the year-long accounting cycle and creating financial statements.

If you’re new to bookkeeping, self-taught, or dove right into QuickBooks without any accounting or business training, this class will fill in the gaps and build your foundation.


Evergreen Content

You'll have lifetime access to the on-demand course including all handouts and class material, including future updates. You'll also be able to ask questions in the Q&A forum and get answers, even years later. You can pause, rewind, speed up, and watch again later as you apply what you learn to each situation as it crops up.



No one tells accounting professionals they will actually have two jobs. One is the work you love doing - helping clients succeed via the valuable accounting, bookkeeping, tax and advisory work you do for them. The other is frustrating drudgery - searching for documents, chasing clients to send them, and opening multiple emails to find what you need. Liscio allows you to do more of the work you love, by taking away the drudgery.

Thousands of accountants use Liscio every day to make it drop-dead easy for clients to securely exchange sensitive documents with the firm and get more work done. A single source of truth helps staff collaborate quickly. Integrated efile and KBA capabilities plus unlimited storage and unlimited clients included means app spend can be reduced and streamlined.

Stop chasing clients for documents and give them an easy, secure, mobile file sharing app they’ll love to use. Your clients and your staff will thank you.

Client Experience 2.0™ begins with Liscio. Learn More Here.


Refunds & Cancellations

Please view our Terms of Service, for information on refunds, cancellations, and complaint resolution. To request a refund, please contact us.


Here is the course outline:

Download the Handouts

Download your class handouts here

Download the handouts here

Accounting 101: What Every Bookkeeper Needs to Know - Intro and Agenda

Getting Started: Intro, Agenda, setting expecations

Intro and Agenda

Bookkeeping Concepts

This first lesson introduces you to the concepts The Accouting Cycle, Business Formations, and Double-Entry Bookkeeping. Before we dive into the hands-on components, we need to understand some key concepts and terms.

Accounting vs Bookkeeping
The Accounting Cycle
Business Entities
What is Double Entry Bookkeeping?

T-Accounts: The Debits and Credits Behind the Scenes

In these lessons, we will use T-Accounts to demonstrate the concepts of Double-Entry Bookkeeping. 

T-Accounts, Debits, and Credits
T-Accounts for Balance Sheet Exercises
T-Accounts and Profit Loss Categories
Preparing Our Fiscal Year-end Financial Statements
Conclusion - What's Next?

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!

Complete this survey for CPE Credit
Accounting 101 Quiz


The following certificates are awarded when the course is completed:

Royalwise CPE Certificate
Back to top