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Profit Segment

Every business person most important accounting goals is to track the profitability of the business.Is profit growing? Or, decreasing?Is the amount of profit worth the investment of time and money the owner puts into his/her business?These are critical questions. Who wants to waste their time in a business enterprise that barely squeaks by and may never improve.We always search for better ways to try and see what’s going on in the business. What’s working? What’s not?

Although QuickBooks is marketed as easy to use and understand, it has proven to be more complicated for many professionals. The initial setup, installation and order of certain entries must be done correctly in order for your information and reports to be accurate.

Training you and your staff to get the most out of your accounting system helps your business run efficiently and helps you avoid costly mistakes at tax time. We offer one to one individualized training and support designed around your business’ needs.

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

 You Will Benefit:

Our team of experienced quickbooks experts will train you in the following practical accounting tasks:

  1. How to input entries in QuickBooks
  2. Online Payroll processing. How to file payroll statutories including P.A.Y.E, N.H.I.F, and N.S.S.F
  3. I-Tax V.A.T returns. How to prepare V.A.T and Withholding tax returns (W/tax)
  4. How to accurately prepare year end statutory accounts
  5. Filing of the corporation tax return
  6. How to prepare a set of management accounts00000