Integrating Technology into the Accounting Curriculum using

QuickBooks Pro!

Managing your Business TransactionsImplement Accounting Cycle

Enter TransactionsGenerate Reports

QuickBooks: Point of Sale V5

Connection to NBEA & CBEA Accounting Standards

• Content Standard 1: Accounting Students will complete the accounting recording cycle and be able to

prepare basic financial statements according to generally accepted accounting principles for various forms of business.

• Content Standard 2: Accounting Students will interpret and analyze basic financial statements as used

by stockholders, creditors, and other users of financial information.

• Content Standard 3: Accounting Students will use planning and control techniques to be able to

evaluate the performance of an organization.• Content Standard 4: Accounting

Students will apply appropriate accounting principles and procedures to selected special topics such as merchandising activities, inventories, and plant and intangible assets.

QuickBooks: Point of Sale V5

Experiential LearningConstructivist Instructional Methodology

• Recognized as an effective approach to computer software training.

• Based on theories of educator John Dewey, the constructivist approach is student-directed using realistic, practical applications to aid learners in constructing a deeper understanding with improved retention.1

1R.Cwiklik, “Dewey Wins!: If the “New” Teaching Methods Pushed by High-Tech Gurus Sound Familiar, It Isn’t Surprising,” The Wall Street Journal, (November 17, 1997), R19.

QuickBooks: Point of Sale V5

Why QuickBooks?

• Chart of Accounts

• Assets, Liabilities, and Equity Cash Basis – record income when money is received and expenses

when bills are paid; track expenses at the time you pay, rather that at the time you receive the bill.

Accrual Basis – record income at the time of sale, not at the time your receive the payment; enter expenses when you receive the bill not when you pay it.

• Measuring Profitability Balance Sheet Profit and Loss Statement Statement of Cash Flow

• Banking Checking Accounts, Check Register Making Deposits, writing checks, reconciling bank statements

QuickBooks: Point of Sale V5

Why QuickBooks?

• Customers & Sales Record customer transactions Create Invoices, Record Sales Record Customer Payments and Print Reports

• Vendors, Purchases, and Inventory Record vendor transactions Create Purchase Orders Enter and Pay bills Print Vendor Reports

• Employees and Payroll Process Payroll

• Reports & Graphs Complete Accounting Cycle by creating Trial Balance and entering

adjusting entries Export Reports to Excel

QuickBooks: Point of Sale V5

QuickBooks Pro Right for Your Business… Right for Your Students

• Creating a Service vs. Merchandising Business

EasyStep Interview Process• Advanced Topics

Estimates, Credit Card Sales Accounting for Bad Debts Audit Trials

QuickBooks: Point of Sale V5

Numerous Clients - Security

QuickBooks: Point of Sale V5

Dashboard Reports… Exporting Graphs - Excel

QuickBooks: Point of Sale V5

Report Center – Sales…

QuickBooks: Point of Sale V5

Cash Drawer Reports…

QuickBooks: Point of Sale V5

Credit Card Payment Reports…

QuickBooks: Point of Sale V5

Customer Reports… Tracking customer’s data

QuickBooks: Point of Sale V5

Customer Orders Reports…

QuickBooks: Point of Sale V5

Items… Inventory, assemblies, parts etc.

QuickBooks: Point of Sale V5

Purchasing ReportsVendor & Vouchers…

QuickBooks: Point of Sale V5

Employee Reports…

QuickBooks: Point of Sale V5

Next Steps?

• We have reviewed the system as it relates to real world scenarios & textbook applications.

• We have discussed the features that will take your students to “the next level”.

• We have discussed the QuickBooks Pro commitment to student success through experiential pedagogy.

• Where do we go from here?

QuickBooks: Point of Sale V5

Credits…

• South-Western Century 21 General Journal 9E

• SW Accounting for QuickBooks Pro

• An Accounting Simulation, SW Creating the Band

• Glencoe Accounting Real World Applications & Connections

• Debra Greenier, Lewis S. Mills HS, Region 10, Burlington, CT 06013 greenierd@region10ct.org