Quickbooks 101: A Guide for Getting the Most Out of Your Software

On Demand Webinar

Webinar Details $219

  • Rated:
  • Webinar Length: 60 Minutes
  • Guest Speaker:   Tom Fragale
  • Topic:   Software, Taxation and Accounting
  • Credit:   ATATX 1.0, CPE 1.0
All Access Membership

Quickbooks continues to be one of the most popular accounting software programs on the planet.  Whether you are an accountant, business owner, office manager or simply interact with your companies financials there is a good chance you have had to work with Quickbooks.  Without proper training, however, mistakes can be made.  Those mistakes can lead to cash-flow problems, late bills, missed invoices, incorrect reporting, and even tax issues.  This webinar will provide you with some hands-on training to start getting the most out of QuickBooks and to avoid those costly mistakes.

Your Benefits of Attending:

  • Get up and running by setting up a company file
  • Learn how to make changes to the Chart of Accounts
  • Know exactly how to add a bank account to your company
  • Walk through the process of setting up Customers. Vendors, and Items (anything you buy or sell)
  • Understand the AP Cycle & the AR cycle and why that is so crucial
  • Learn how to effectively use the Built-in Reports
  • Learn how to create customized reports and when that is necessary
  • Know how to check your account balances
  • Set up your company Snap-shot

Tom Fragale brings more than 30 years of professional experience to the table in this information packed webinar.  Register today and come prepared with your pen and notepad (or laptop).  

  1. Introduction
  2. Topics Include 00:02:00
  3. Quickbooks PC Version 00:02:57
  4. Quickbooks Company File Setup 00:04:15
  5. Quickbooks Home Screen 00:09:54
  6. Chart of Accounts - 00:12:47
  7. Adding a New Account 00:13:58
  8. How to Set up a Bank Account 00:14:31
  9. How to Set up a Credit Card Account 00:16:41
  10.  Adding Account Numbers 00:18:43
  11. How to Set up Vendors, Customers, and Items 00:22:00
  12. Accounts Receivable Cycle 00:32:53
  13. Accounts Payable Cycle 00:43:30
  14. Built-In Reports 00:55:03
  15. Conclusion 01:03:31

    • Accounts Payable (AP) 00:44:04, 00:48:41
    • Accounts Receivable (AR) 00:33:11
    • AP Cycle 00:43:30
    • AR Cycle 00:32:53
    • Asset 00:17:49
    • Chart of Accounts 00:12:47, 00:20:56
    • Drill Down 00:43:07
    • Invoice 00:32:56
    • Liabilities 00:17:51
    • Purchase Order 00:45:04
    • QuickBooks Desktop 00:02:57
    • Reports 00:55:03
    • Transaction 00:52:09
    • Vendor 00:22:01, 00:29:49

    AP Cycle: The record of the outstanding bills of a business. It is the money you owe your vendors for goods or services that you purchased on credit. Accounts Payable is called A/P for short. (Even though the word "accounts" is plural, QuickBooks uses a single account on the Chart of Accounts to track all outstanding bills.) There are 2 usual A/P workflows available in QuickBooks Desktop. To record your A/P transactions, choose one workflow that suits your business process and follow the steps in creating each transaction from your selected workflow. Workflow 1: Purchase Order - Receive Inventory - Enter Bills against Inventory - Bill Payment and Workflow 2: Enter Bills - Pay Bills.

    AR Cycle: The record of money owed to your business for goods or services; that is, invoices for which your business hasn't received payment yet. Accounts Receivable is called A/R for short. (Even though the word "accounts" is plural, QuickBooks uses a single account on the chart of accounts to track all outstanding invoices.) Other terms for Accounts receivable are Notes and Collectibles. There are five usual A/R workflows available in QuickBooks Desktop. To record your A/R transactions, choose one workflow that suits your business process and follow the steps in creating each transaction from your selected workflow. Workflow 1: Estimate - Sales Order - Invoice - Payment - Deposit, Workflow 2: Sales Order - Invoice - Payment Deposit, Workflow 3: Estimate – Invoice – Payment – Deposit, Workflow 4: Invoice – Payment – Deposit, and Workflow 5: Statement Charges – Finance Charges – Statement – Payment – Deposit

    Accounts Payable (AP): The amount of money a company owes creditors (suppliers, etc.) in return for goods and/or services they have delivered.

    Accounts Receivable (AR): The amount of money owed by customers or clients to a business after goods or services have been delivered and/or used.

    Asset: Property owned by a person or company, regarded as having value and available to meet debts, commitments or legacies.

    Chart of Accounts: Chart of Accounts is the complete list of all the company’s accounts and balances. In QuickBooks, it represents and organizes the company's assets, liabilities, income, and expense. QuickBooks automatically creates your chart of accounts based on the industry and type of company you choose when creating your company file. If you just created your file, make sure to record the accounts' opening balances.

    Drill Down: When a user double-clicks on any number within a pivot table, Excel creates a new worksheet that displays the underlying records.

    Invoice: An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice.

    Liability: In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

    Purchase Order: A legal contract between a buyer and a vendor. It lists the materials or services to be purchased on specified terms and conditions (quantity, price / pricing conditions, delivery date).

    QuickBooks Desktop: QuickBooks Desktop is a one-time purchase accounting software to be installed on your office desktop computer.

    Reports: A report is a set of instructions that the program uses to display data from your company file. All available reports can be accessed through the QuickBooks Reports menu.

    Transaction: In QuickBooks, a transaction type identifies what kind of transaction occurred, such as a customer transaction, bill payment or a bank transfer. When you submit a transaction, you type in a transaction code to represent it.

    Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.

    Guest Speaker

    • Tom Fragale

    ATATX Credit

    Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in accounting.

    CPE Credit

    Continuing Professional Education

    Aurora Training Advantage 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.

    For more information regarding administrative policies such as complaint and refund, and cancellation please contact our offices at 407-542-4317 or training@auroratrainingadvantage.com.

    You must answer all questions during the webinar, view the recording completely and pass the test at the end with 70% correct answers to receive CPE credit.