This program covers the Theory behind Accounting Processes, explaining Debits, Credits and providing hands-on practice doing Manual Entries and Bank Reconciliations. Participants will post journal entries, understand and discuss balance sheets, income and expense statements.
Learn how to setup your company by entering company information, defining start dates, creating & modifying your chart of accounts, entering opening balances & historical transactions. When the setup is complete participants will then continue by creating invoices, entering sales receipts, updating customer and vendor information, entering bills, paying bills, completing a bank deposit and reconciliation. Throughout the program participants will be introduced to forms and reports and will finish the day by backing up their data.
Editing, combing and deleting accounts, entering general journal transactions, canceling/voiding a sale, issuing a credit memo, entering an NSF cheque & dealing with Bad debts and discounts are included in this Level. Learn how to manage customer information, view accounts payable history & memorize recurring transactions, work with direct disbursements; write direct manual checks; track ATM transactions, work with credit cards including entering credit card account charges & reconciling the credit card bill; customizing forms, and configuring classes.
Creating a payroll schedule, setting up new employees, and creating payroll deductions are where you start with in level III. Using time sheets to create pay cheques and invoices, creating payroll entries and adjustments, producing payroll liability reports are also covered. Producing a Record of Employment for terminated employees as well as T4’s are covered. Understanding and recording an Owner’s draw, paying subcontractors and owners for work done and producing a variety of payroll reports wraps up this level.
QuickBooks Level IV (Dates and Times)
Learn how to manage inventory within QuickBooks.Import inventory from Excel spreadsheets, setup multiple price levels, create Builds and Assemblies and use Purchase Orders, Estimates and Sales Orders to add to and remove inventory items.
In Simply Accounting Level 1 you will learn how to use Express Setup to quickly create a set of books for your type of company. You will then learn how to customize the accounts to handle your unique business. By filling out the on-screen forms you will see how Simply Accounting completes the accounting entries for you. You will be shown how to set up Services to speed data entry, how to record purchases and payments, & sales and receipts. Bank deposits and account reconciliation will also be covered. You will have an opportunity to see how to complete GST Returns using reports that are available in Simply Accounting. You will be instructed in how to create backups of your data and how to complete period ending transactions.
Simply Accounting Level II (Dates and Times)
Prerequisite: Simply Accounting I or equivalent experience
Learn how to setup Users with restricted access, setup budgets and create reports comparing budgeted amounts to actual values, setup & enter Inventory and use reports to track inventory. Create Projects, allocate income and expenses to different projects and produce reports showing profit/loss per project. Set up to use credit cards when making sales and purchases. With the new customize forms feature in Simply Accounting you will be shown how to add a company logo and modify the form. Learn how to clean up your chart of accounts, as well as your customer and vendor lists. Also learn how to start a new year and produce an Accountants copy of your books.