Upon completion of the course, students will be able to:
1. Ascertain necessary data to compile a set of books for a small business.
2. Customize and configure QuickBooks in order to run a business.
3. Develop a business budget and prepare the necessary documents.
4. Analyze needs of a small business and prepare customized forms including estimates and invoices as well as account for all cash transactions.
5. Develop means of analyzing profitability and cash flow.
6. Decide what information will be necessary for formal reports for presentation to management, owners, lenders, and other users of financial reports.
1. Research data to set up books for a company
A. Choose a start date
B. Determine company name and address
C. Establish state and federal identification numbers
2. Enter data to set up a company
A. Select a chart of accounts
B. Check account balance
C. Develop customer and vendor lists
D. Add assets and liabilities
3. Use the general journal for special transactions
A. Opening balance of equity accounts
B. Sell an asset
C. Record depreciation
D. Determine payroll liabilities
E. Record adjusting journal entries
F. Correct errors
4. Set up a budget
A. Budget for customer jobs
B. Budget by month
C. Budget for fiscal year
5. Perform advanced payroll features
A. Time tracking for payroll
B. Employee timesheets
C. Charging employee time to customer
D. Payroll expense and liability accounts
E. Add payroll items
F. W-2 tracking
G. Employee expense accounts
H. 1099 tracking
6. Tracking tax information
A. Sales tax
B. Local taxes
7. Preparing estimates
A. Create an estimate for job time and inventory or products
B. Create alternative estimates for the same job
C. Convert estimate to an invoice
8. Customizing forms
9. Using QuickBooks letters
10. Special transactions
A. Voiding and deleting
B. Memorizing transactions
C. Handling bounced checks
11. Analyze profitability and cash flow, and prepare various financial reports
A. Balance sheet
B. Profit and loss (income statement)
C. Cash flow statement (indirect method)
D. Comparison to prior month, quarter, year, etc.
E. Projected cash flow
F. Job estimate versus actual
G. Job profitability
H. Other reports deemed appropriate by instructor
12.Closing books at year end
A. Pros and cons
B. Setting closing date and password
1. Completion of exercises including a series of simulated bookkeeping and accounting procedures.
2. Troubleshoot and problem solve various scenarios.
3. Prepare required tax forms and schedules.
4. Develop small business reports including profitability and cash flow reports.
5. Final comprehensive project such as establishing a set of books, recording various transactions, preparing reports, and year-end closing procedures.
6. Read 20 to 40 pages per week.
7. Complete approximately 15 computer problems.
8. 3-5 exams
|Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing.||Writing
0 - 0%
|This is a degree applicable course but assessment tools based on writing are not included because problem solving assessments and skill demonstrations are more appropriate for this course.
|Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.||Problem Solving
20 - 60%
|Troubleshoot problems, tax form and schedule preparation,||
|Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.||Skill Demonstrations
20 - 60%
|Comprehensive project and business reports||
|Exams: All forms of formal testing, other than skill performance exams.||Exams
10 - 25%
|Tests and quizzes: multiple choice, true/false||
|Other: Includes any assessment tools that do not logically fit into the above categories.||Other Category
0 - 10%
|Attendance and participation||
Get Smart With QuickBooks 2010, Technical Learning Resources, 2010.
QuickBooks 2010, The Official Guide, Quicken Press, 2010.
Instructor prepared materials