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 recognized as 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. In addition, Scott has spent much of his career working closely with small business owners to help them successfully implement and troubleshoot the QuickBooks accounting program.
There are no prerequisites for this course.
QuickBooks Premier 2014 for Windows, Microsoft Windows 7, 8, 2000, XP, or Vista.
QuickBooks Software must be installed and fully operational before the course begins. When installing the software using the Premier version, be sure to select the contractor's edition. QuickBooks Pro 2014 for Windows is acceptable for this course, but please be aware that the Pro version is missing certain features that are only available in the Contractor's Edition used in this course.
The Macintosh, Simple-Start, and Online versions of QuickBooks are not supported in this course.
A new session of each course opens each month, allowing you to enroll whenever your busy schedule permits!
Once a 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.
Keep in mind that the interactive discussion area for each lesson automatically closes 2 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 2 weeks plus 10 days to complete the Final and finish any remaining lessons in your course. No further extensions can be provided beyond these 10 days.