Course Code: qc5
Contracting businesses have many unique accounting and reporting needs. In this first lesson, you'll learn how to set and edit your general, accounting, tax, and time-tracking preferences to fit your particular company. Then, you'll learn the QuickBooks basics, like how to create and edit accounts in your company file. You’ll also see how you can modify company templates (estimates and invoices, for example) to track all kinds of valuable information.
In this lesson, we'll focus on the Items List, which is an extremely useful tool for contractors. Even though different types of contractors will set up their lists differently, there are some general guidelines you can follow to ensure that your list works effectively and efficiently. Then, go over some great tools to assist you in tracking both revenues and expenses for each job you complete.
In this lesson, you'll learn how to create project estimates and transfer the information to an invoice. You’ll also find out how to handle the different invoicing methods contractors often face, such as time and materials and progress invoicing, and you'll get an opportunity to enter a few sample invoices using the different methods. Then, you'll learn the steps you need to follow to enter change orders and retainage.
You'll learn the most basic methods for creating a new vendor and entering a check transaction. In addition, you'll see how you can use purchase order and bill-paying features to better track costs that are more common for contractors (such as materials and subcontractor costs). Then, we'll discuss recording time entries and how you can transfer these entries to other locations in the program, such as invoices.
In this lesson, we'll focus on the key payroll issues that contractors face. For instance, you'll learn how to create payroll items as part of your job-costing system. We'll also discuss some techniques for filing workers' compensation reports. Then, you'll discover how to locate critical information for your business, and then how to generate some spectacular reports to help you to better manage day-to-day activities.
We'll begin this lesson with a discussion of some simple but important month-end procedures, like reconciling accounts and printing reports. And finally, we'll go over simple steps you can take to reduce your risks and safeguard your business assets. You'll learn how to set up and restrict users to certain areas of the program, review an Audit Trail report, and set a closing date for the books.
Scott Paxton is a Certified Public Accountant and holds master's degrees in business administration and accounting. His background includes experience as a public accountant, a manager in the banking industry, an entrepreneur and a college business instructor. Paxton has also spent much of his career helping small business owners successfully implement and troubleshoot QuickBooks.
There are no prerequisites to take this course.
The instructional materials required for this course are included in enrollment and will be available online.
A new session of each course opens each month, allowing you to enroll whenever your busy schedule permits.
Once a course session starts, two lessons will be released each week for the six-week duration of your course. You will have access to all previously released lessons until the course ends.
The interactive discussion area for each lesson automatically closes two weeks after each lesson is released, so you’re encouraged to complete each lesson within two weeks of its release.
The final exam will be released on the same day as the last lesson. Once the final exam has been released, you will have two weeks plus 10 days (24 days total) to complete the final and finish any remaining lessons in your course. No further extensions can be provided beyond these 10 days.