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QBO: Build Right Chart of Accounts - Base for Accounting and Reading Financial Statement

4.5 (161)

Alicia Katz Pollock, MAT,ACN,MOS

Royalwise Solutions

Thursday, March 18, 2021 | 10:00 AM EDT

  • CPA Canada
  • CPA/CITP
  • CMA
  • CPA
  • CVA
  • Tax Preparer
  • CFE

2.5 Credits

$20

Subject Area

Accounting

Webinar Qualifies For

2.5 CPE credit of Accounting for all CPAs

2.5 CPE credit for Certified Management Accountants (CMA)

2.5 CPD credit (Verifiable) for Canadian CPAs

2.5 CPE credit for Certified Fraud Examiners (CFEs)

2.5 CPD credit (Verifiable) for Certified Information Technology Professionals (CITP)

2.5 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CE credit of Computer Technology for Maryland Tax Preparers

2.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

The QuickBooks Chart of Accounts structures your business according to accounting principles. Your general ledger includes assets, liabilities, equity, income, and expenses. Take this class to learn bookkeeping terms like Accounts Receivable and Accounts Payable. By the end of this course, you’ll know how to read a Balance Sheet and a Profit and Loss report, as well as how to structure your Chart of Accounts so it supports your unique business workflow.

Your Chart of Accounts is the backbone of your business. It has two functions: outlining what the IRS wants to see for taxes and allowing you to generate your P&L and Balance Sheet reports. There are industry-standard accounts you need, but you also have the flexibility to create accounts that reflect your unique circumstances. It’s impossible to start using QuickBooks® without customizing your Chart of Accounts. This class will explain the fundamentals.

This online CPE webinar for CPAs covered highlights of the webinar:

  • What is a Chart of Accounts (COA)?
  • How the COA maps to reports ?
  • Modifying the COA
  • Chart of Accounts vs. Products and Services

Recommended for: 

  • Business owners and employees who want to understand the “business behind the business”
  • Students and job-seekers will boost their employment marketability
  • Entrepreneurs and new business owners who are just getting started, and want to make sure they have solid business knowledge so that they can succeed
  • Bookkeepers and Accountants who wish to brush up on their skills.

Learning Objectives

  • To identify the function of the Chart of Accounts
  • To identify ways of Creating new accounts and editing existing accounts
  • To recall Equity accounts
  • To recall Liability accounts
  • To recall Asset & Bank accounts

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Bookkeeper
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • QB Pro Advisor
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Young CPA

Testimonial

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(
    [no_of_record] => 161
    [average] => 4.4845
)
 

4.5

(161)
61%
30%
7%
0%
2%

MM

This was great. It was well presented. I have clients that hesitate to get started with QBO and commit to the ongoing fees and I have clients that used desktop and don't like that they need to upgrade to new years/versions but the QBO option is worse in their mind. This presented the options well and issues to consider

JC

This was an excellent informational webinar about the differences, pros and cons, and offerings of QBO and QB Desktop versions! I have always wanted a good comparison of the ups and downs of both programs and this webinar was the perfect ticket for that information. THANKS!!

TN

Such great webinar is a great learning experience that helps decipher the capabilities of both Desktop and online QuicBooks versions and how they can be for a great help to serve clients and streamline the work of accounting professionals.

AT

This was a good presentation on automating processes. This is something we should all do on a regular basis, but we get resistance from others or so used to the current process that we fail to improve our work product. Great food for thought and, hopefully, change!

BP

Wow ! this webinar was the best for my learning of Quickbooks online. Alicia is knowledgeable that I could understand in details. Gonna take the test and hopefully I will be one of the online member soon. Thank you Alicia !

BW

Alicia was a super-effective presenter and exhibited not only her knowledge of QBO but her true desire to share her knowledge...the mark of a true teacher. I look forward for more opportunities to learn from her.