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

  • Accountant
  • CPA (CA)
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • MRTP
  • CBA/MCBA
  • CFIRS
  • CWS

Published: September, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Assets Categories in QuickBooks Online Chart of Accounts
    18 mins
  • Liabilities Categories in QuickBooks Online Chart of Accounts
    30 mins
  • Equity in QuickBooks Online Chart of Accounts
    38 mins
  • Income Categories in QuickBooks Online Chart of Accounts
    44 mins
  • Cost Of Goods Categories in QuickBooks Online Chart of Accounts
    51 mins
  • How the Chart of Accounts maps to reports?
    59 mins
  • Modifying the Chart of Accounts
    89 mins

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.

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

Course Qualification

Webinar Qualifies For

  • 2.5 CPD Credit of Accounting for Chartered Professional Accountant (CPA Canada)
  • 2.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2.5 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
  • 2 CE Credit of Computer technology for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00999-22-S)
  • 2.5 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 2.5 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 2.5 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
  • 2.5 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
  • 2.5 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2.5 CE Credit for Certified Wealth Strategist (CWS)
  • 2.5 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    2.5
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Alicia Pollock, MAT,ACN,MOS

Intuit Trainer/Writer Network, Elite-level QuickBooks ProAdvisor, Royalwise Solutions

Alicia is a QuickBooks® Elite ProAdvisor, a member of the Intuit Trainer/Writer Network, and was recently named Top 10 ProAdvisor by Insightful Accountant.

With a Masters in Teaching, a collection of certifications, several published books, & decades of business consulting experience, Alicia is a skilled & patient QuickBooks coach.

About Company

Royalwise Solutions

royalwise.com/

Founded by Jamie Pollock and Alicia Katz Pollock, Royalwise is an Apple, Microsoft, and Intuit-certified computer training and support company. We are certified to train and support all Apple products, Microsoft Office, QuickBooks on any platform. As a member of the Apple Consultants Network, we are certified by Apple to support all desktop machines running OS X and mobile devices running iOS. We have vast experience with iPads and iPhones, and how to configure and utilize iCloud to sync your data seamlessly.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

3.9

14 Ratings

Excellent

6

Very Good

4

Average

2

Poor

1

Terrible

1

DC

Dianne Carrington, Accountant

Mar 2nd, 2020

Probably an inappropriate aside ... I told my spouse, "If you see my head on the desk, I'm probably asleep (I absolutely love bookkeeping/accounting - but the delivery can be mind numbing), so just wake me. 10 minutes into Alicia and my head nodding affirmations and giggles, the question was asked, "Can I listen in, I know you love accounting?"

SL

Susan Lapanne, CFE, CPA (US), CGMA

Mar 22nd, 2022

I really enjoy the presentations and find that Alicia does a great job with her explanations. But the phrasing in the quizzes (and even in the review questions) are very difficult to understand as they are incredibly nuanced.

LC

Linda Cunningham, CPA (US)

Dec 9th, 2021

The instructor knew very litttle about accounting, but was knowledgeable about QB.

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