QuickBooks Online is designed with both accountants and non-accountants in mind, because of that, new learners don’t have to be an accountant to use QuickBooks.
However, there are some things in QuickBooks that are difficult to use to their fullest potential without some basic understanding of accounting and bookkeeping.
That’s what we are focus on and we are going to help share a series of posts with each learning outcome.
The most fundamental thing to learn about in accounting is the Chart of Accounts, and that’s what you are going to learn first. After that, you learn how QuickBooks interprets data on the Chart of Accounts to build the two most common financial statements, the balance sheet, and the profit and loss.
Once you know more about your financial statements and how to read them, you’ll also learn some tips and tricks on how to set up your company’s Chart of Accounts.
Sometimes accounting feels like its own language, but in this module, you’ll also come to understand some basic accounting terms that are common among nearly all businesses.
You’ll also learn what Journal Entries are and how to enter them, but for the most part, you won’t need to worry about journal entries, because QuickBooks takes care of most of them for you.
By the end of this series of articles, you’ll have a greater understanding of accounting, and how it’s applied in QuickBooks Online.
Fundamentals you need to know about QuickBooks Online Accounting & Bookkeeping – Outline
• Basic Chart of Accounts in QuickBooks Online
• Learn about the Balance Sheet in QuickBooks Online
• Learn about the profit & loss statement in QuickBooks Online
• How to Categorize and Record transactions in QuickBooks Online
• Basic Accounting terms in QuickBooks Online