Foreign Currency Transactions in QuickBooks Desktop - Beyond the Basics 1.5 Credits
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Mar 11, 03:30 PM
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Not knowing how QuickBooks Desktop can track foreign currency transactions means that you are not providing your clients with the utmost expertise. Furthermore, it can cause you a lot of work at year-end trying to detangle the mess that your clients have left for you in the form of meaningless QuickBooks data.
With the help of this CPE course, you can learn how to use Multicurrency in QuickBooks the correct way and offer your clients "above and beyond" knowledge and expertise.
In certain situations, QuickBooks automatically calculates and records gains and losses on foreign exchange. These situations have to do with closing a sales workflow (receiving payment, depositing to the bank) and closing a purchase workflow (paying a bill).
But there is one more kind of gain or loss on foreign exchange that QuickBooks doesn’t record unless we tell it to do so: Home Currency Adjustments.
Join this CPE course by Esther Friedberg Karp to learn about the concept of the Home Currency Adjustment, which revalues foreign currency balances on the balance sheet without changing their value in the original currency.
Major topics discussed in this course:
This CPE QuickBooks webinar will go beyond the everyday purchase, sale, and transfer transactions in a Multicurrency environment in QuickBooks Desktop. You will also learn how to use purchase orders in a Multicurrency environment.
Explore CPA CPE Courses with MY-CPE. Our online offerings make it easy for you to fulfill your CPA CPE requirements. With a broad selection of topics taught by experienced professionals, you can enjoy flexible scheduling and self-paced learning. Say goodbye to traditional methods and begin your path to professional growth with us today!
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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Esther Friedberg Karp is an internationally-renowned trainer, writer, business consultant and speaker who has been repeatedly listed as one of Insightful Accountant’s Top 100 QuickBooks ProAdvisors in the world. She has also been named to their Top 10 list on two occasions: as Top International ProAdvisor and Top Trainer/Writer ProAdvisor.
In addition, Esther was named one of the Top 50 Women in Accounting for 2017 and a Top Ten Influencer in the Canadian Bookkeeping World in 2018.
Based in Toronto, Canada, Esther has the unique distinction of holding ProAdvisor certifications in the United States, Canada, and the United Kingdom. She has authored materials and delivered educational and certification courses for Intuit in all those countries, as well as Australia where she conducted live QuickBooks Online training. She has spoken at Scaling New Heights, QuickBooks Connect and other conferences, and has written countless articles for Intuit Global, the Firm of the Future blog and Insightful Accountant.
Esther’s clients include companies worldwide and accounting professionals who seek her out on behalf of their own clients. She is sought out for her expertise in Multicurrency and various countries’ editions of QuickBooks Desktop and Online, and for her talent in customizing QuickBooks usage for different industries. She also creates QuickBooks Core and Advanced certification training for accounting professionals in Canada.
Esther holds a BSc from the University of Toronto in Actuarial Science and Mathematics, and an MBA in Marketing and Finance from York University’s Schulich School of Business.
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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MHK
Thank you very much for a valuable webinar
AH
It would be good to have the demonstrated transactions in the handout as a future reference since this topic has many workarounds that are needed.
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