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.
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.