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Profit Segment

Course Outline

Profit Making Segment

Target group; Accountants Book Keepers, Auditors, Trainers, Consultants

Training schedule: Every Thursday& Friday

9.00am – 4.30pm

No of hours 15 hrs 2  days,

Costing – 15,000 Payable in Full.

No of Seats: 10

Register Now

Day 1:

  • Understand the Accounting Software Tier Groups
  • Understand the various versions of QuickBooks
  • Checklist before setting up a Profit based entity
  • Setting up your company
  • Navigating around QuickBooks efficiently
  • Understand The Dynamics of a going concern
  • Set up the chart of Accounts for a Profit based entity
  • Highlighting the differences between Non Profit and Profit based
  • How to capture the opening balances correctly
  • Use & misuse of general Journals entries

Day 2:

  • Understand Cash Vs Accrual accounting concepts in QuickBooks
  • How to record Incomes without using journals
  • Recording incomes using Invoices and Cash sales
  • Understanding the proper use of Undeposited funds
  • Understanding the Mechanism and dynamics of Inventory management in QuickBooks
  • Distinguishing between Stock part, Stock Assembly and Groups items
  • Recording Bills and Expenses using Cash/Accrual methods
  • Recording Foreign based transactions
  • Banking: bank reconciliation & locate discrepancy
  • How to close the Books
  • Handling Budgets in QuickBooks
  • Reporting tool and
  • Use of Find feature
  • Use of Payroll control Accounts.
  • Project costing in QuickBooks
  • Q&A