QuickBooks Premier 2018 Certification Handbook€¦ · QuickBooks Products : 2.5 . Consider visiting the URL on Slide 6 to explore some of the products and compare the pricing. 5-10

U.S. Edition Level 1/2

QuickBooks 2018 Student Software Included

Courseware: 1800-1

QuickBooks Premier 2018 Certification Handbook

1800-1 v1.00 © CCI Learning Solutions Inc. 1

Lesson Notes for QuickBooks Premier 2018 – Level 1

Introduction: Introducing QuickBooks

Pg Slide Topic/Exercise Heading Obj Instructor Notes Exercise Data Files:

Starter/Resource/MyProjects Timing (mins)

The Exam Objectives listed at the right are covered in this lesson. 2.5 What versions and editions of QuickBooks are available for a

specific year (desktop version)

1 3

Lesson Objectives Review the objectives with students so they know what will be covered in the lesson. Post objectives where they are visible in the classroom.

• Understand how QuickBooks is used in the workplace.

• Understand that there are various QuickBooks products, editions, and versions available.

• Describe the purpose of the Accounting Cycle.

• Identify Transaction Cycles used in QuickBooks.

Gauge students' familiarity with basic accounting principles and ensure they understand double-entry bookkeeping.

5-10

1 4-5

Why Use QuickBooks? Even though QuickBooks takes the guesswork out of entering accounting transactions, it is still important to understand why certain tasks are performed and why they should be performed a certain way.

5-10

2 6 QuickBooks Products 2.5 Consider visiting the URL on Slide 6 to explore some of the products and compare the pricing.

5-10

2 7 QuickBooks in this Course 2.5 We will use QuickBooks Premier Accountant Edition 2018 in this course.

5-10

2 8 QuickBooks in the Workplace Emphasize the importance of teamwork and taking responsibility for understanding the big picture, as well as individual roles within that big picture.

5-10

3 9 Accounting Basics and QuickBooks The Accounting Cycle

While the work you do contributes to the completion of the actual phases, the later phases are usually handled by a CPA.

10-15

1800-1 v1.00 © CCI Learning Solutions Inc. 2





3 10 Visualizing Transaction Cycles in QuickBooks

Review the QuickBooks Transaction Cycles Overview Diagram with students and encourage them to bookmark the page and refer to it as necessary as they work their way through the course.

10-15

5 11 Lesson Summary Review the objectives with students to remind them of what was covered in the lesson. Provide a short summary of the features.

5-10

5-6 End-of-Lesson Section Review the Key Terms and Quiz Questions with students. The Quiz Questions answer key can be found in the Teacher Resources.

15-30

Total (Hours) 1.0-2.0

MasterTrak Accounting Series – US

QuickBooks Premier 2018 - Level 1Accountant Edition

QuickBooks Premier 2018 – Level 1 Introduction

© CCI Learning Solutions Inc.


2


© CCI Learning Solutions Inc. 3

Lesson Objectives• Understand how QuickBooks is used in the workplace.• Understand that there are various QuickBooks products,

editions, and versions available.• Describe the purpose of the Accounting Cycle.• Identify Transaction Cycles used in QuickBooks.



Inputs• Information• Numbers

Outputs• Reports• Reconcile

Verification• Review • Correct

$Why Use QuickBooks?



Accounting Software, simple and complex

One location . . . . . . World-wide

5



QuickBooks Products• Online and desktop products• Desktop products include

−QuickBooks Pro−QuickBooks Premier−QuickBooks Accountant Edition−QuickBooks Enterprise Solutions

• Visit https://quickbooks.intuit.com/products/ to see available products and plans.

https://quickbooks.intuit.com/products/



QuickBooks in this Course

QuickBooks PremierAccountant Edition 2018

7



QuickBooks in the Workplace

• TEAMWORK!!



The Accounting Cycle

$ $ $A jumble of numbers turns into a neat line in a report as the cycle completes.

9



Visualizing Transaction Cycles in QuickBooks

Reconciliation

DepositBANKING

SALESPURCHASES

Buy Sell

Write checks

Pay bills Receive

payments

Reports ListsPayroll

10



Lesson Summary• Understand how QuickBooks is used in the workplace.• Understand that there are various QuickBooks products,

editions, and versions available.• Describe the purpose of the Accounting Cycle.• Identify Transaction Cycles used in QuickBooks.

U.S. Edition Level 2/2

QuickBooks 2018 Student Software Included

Courseware: 1801-1

QuickBooks Premier 2018 Certification Handbook



Lesson 1: Managing Items



The Exam objectives listed at the right are covered in this lesson.

3.1

3.1.1 3.1.3 4.1

4.2 4.3

4.3.1 4.3.2 4.3.3 4.3.4

5.7

How to manage lists (customers, vendors, items, etc.). List management include[s]:

Adding new entries Editing entries

How QuickBooks uses items to perform the necessary accounting entries The different types of items and when to use each type How to use items for different types of scenarios. These include companies that sell: Products for a specified price

Services for a specified price Unique products or services that have different prices for each sale One service or product

How to handle bounced (NSF) checks

1 3 Lesson Objectives Review the objectives with students, so they know what will be covered in the lesson. Post objectives where they are visible in the classroom.

• Explain the purpose of different item types. • Create new items. • Import items. • Select correct items in transactions.

5-10

1 4-7 Preparing for Inventory

Understanding Items Inventory Items are Special

4.1 Lists are central to everything in QuickBooks. Point out lists in the Accounting Cycle on Slide 4. Items relate to many transactions. They control the use of the GL accounts and are used in several forms.

20-40






Knowledge of the Chart of Accounts is helpful when choosing items because they use similar hierarchy and post to specific GL accounts. This lesson focuses on inventory items. Inventory items post up to two pairs of debits and credits. Review inventory terms:

• Physical inventory • Inventory reconciliation • Shrinkage

5 8 Understanding Item Types 4.1 4.2

Item type determines how items are used. Review the item types with students:

• Service • Inventory Part • Inventory Assembly • Non-inventory Part • Other Charge • Subtotal • Group • Discount • Payment • Sales Tax Item • Sales Tax Group

20-40

8 9 Creating New Items

Examining a Service Item Examining an Inventory Part Item

3.1.1 3.1.3 4.1 4.2

It is important to remember: • Items cannot be deleted after they are used in a

transaction, but they can be deactivated. • The Item Name/Number field is not seen by customers

or vendors. • The item type cannot be changed after it is saved. • The Description field is unnecessary but appears on

forms/journals and can be helpful.

15-30






Review the New Item form.

11 Exercise 1.1: Creating a New Item

3.1.1 3.1.3

Add and duplicate items of different types. Starter: Best Custom T-shirts L2_L1_A (Portable).QBM MyProjects: Best Custom T-shirts L2_L1 <Student Name>.QBW

15-30

12 10 Importing Item Lists 3.1.1 Using Excel makes it possible to add many items to QuickBooks at once. This section covers the following:

• The importance of mapping fields • A step-by-step guide to import the file.

20-40

17 Exercise 1.2: Importing New Items

3.1.1 Import three new T-shirt items. Starter: company file left open from previous exercise

10-20

19 11 Choosing Items Entering NSF Checks with Items and Billing Purchases to Customers

4.1 4.2

4.3.1 4.3.2 4.3.3 4.3.4 5.7

Describe how to match items to sales transactions and the role of items in NSF transactions. Choosing the right item type depends on the purpose of the item. Refer to Table 1-1 in the lesson or Slide 8.

10-20

23 Selecting the Correct Item

4.1 4.2

4.3.1 4.3.2 4.3.3 4.3.4

Students need to know how and why their businesses use each item type.

10-20

27 Exercise 1.3: Selecting Items 4.3.1 4.3.2

Create two bills to purchase T-shirts and design services, bill back the design services, and then invoice the customer.

Starter: company file left open from previous exercise

15-20






4.3.3 4.3.4

MyProjects: Best Custom T-shirts L2_L1 <Student Name> (Portable).QBM

28 12 Lesson Summary Review the objectives with students to remind them of what was covered in the lesson. Provide a short summary of the features and give students a chance to complete exercises if they did not complete them earlier.

5-10

29 End-of-Lesson Section Use the items included in this section to review and reinforce the concepts and skills presented in the lesson. Review the Key Terms, Activities, and Quiz Questions with students. The Practice the Skill and Course Project Exercise may be assigned at your discretion as classwork or homework. Answer keys and solution files can be found in the Teacher Resources.

30-60

Total (Hours) 3.0 – 6.0

MasterTrak Accounting Series - US

QuickBooks Premier 2018 - Level 2Accountant Edition

QuickBooks Premier 2018 - Level 2 Lesson 1: Managing Items



2



Lesson Objectives• Explain the purpose of different item types. • Create new items. • Import items. • Select correct items in transactions.

3



Preparing for Inventory• Lists are central to everything

you do in QuickBooks.• Items are one of the lists that do

the following:- Relate to many transactions

- Describe transactions that post to a single GL account

- Have many uses on forms



Preparing for InventoryUsing Inventory Items• Posts up to two pairs of

debits and credits• Used on bills and invoices• Links to an Inventory GL

account



Preparing for Inventory

• Hierarchy works the same in the Item List as it does in other lists



Preparing for Inventory• QuickBooks Inventory must equal physical

inventory.• Reconcile inventory at least once a year.• Adjust values in QuickBooks to equal physical

inventory.• If more goods were sold than are recorded in

QuickBooks, record shrinkage.− Some common causes of shrinkage include

shoplifting, employee theft, paperwork error, and vendor fraud.



Understanding Item TypesItem Type Purpose

Service Fee-based services, not goods

Inventory Part Stand-alone inventory items or items used to build assemblies

Inventory Assembly Inventory item made from other parts or assemblies

Non-inventory Part Items not held in inventory such as manufacturing supplies

Other Charge Miscellaneous item such as freight

Subtotal An amount that provides a summary figure for associated groups of items

Group A selection of associated items

Discount An amount that reduces the amount of an invoice

Payment An amount that records a down payment for a sale

Sales Tax Item The application of sales tax at a fixed rate for one jurisdiction

Sales Tax Group The combination of Sales Tax Items for a group



Creating New Items• Items cannot be deleted• Cannot change item type



Importing Item Lists• You can use Excel to create items and import them all at once.



Choosing Items• Match the item to its purpose.



Lesson Summary• Explain the purpose of different item types. • Create new items. • Import items. • Select correct items in transactions.

12

Documents

QuickBooks Premier 2018 Certification Handbook€¦ · QuickBooks Products : 2.5 . Consider visiting the URL on Slide 6 to explore some of the products and compare the pricing. 5-10