Learn both QuickBooks Online and Excel from a Certified Public Account.
This course will compare the process of creating an accounting system in both QuickBooks Online and Excel. Because Excel is a much more transparent tool, it will provide us a much better understanding of the workings of QuickBooks
The QuickBooks related sections of the course will cover the following:
We will first talk about how to get access to QuickBooks Online, possibly with the 30-day free trial often offered by QuickBooks, the 30-day free trial being a perfect tool for a course like this.
Using the test drive company file provided by QuickBooks, we will practice navigating the software, locating the settings, the general ledger and other core lists, the reports, and the primary forms used to enter financial transactions.
We will break the accounting process down into accounting cycles, including the revenue or accounts receivable cycle, the purchases or expense or accounts payable cycle, and the payroll or employee cycle.
Thinking about the accounting process by cycle is much easier to visualize, the data input forms falling into place, the order and linking of many data input forms becoming much clearer.
This course will demonstrate the core financial statement reports, the balance sheet, and the income statement or profit and loss. We will then look at many other reports, considering how most will expand on, and provide more information to line items on the primary financial statement reports, the balance sheet, and income statement, or profit and loss.
The Excel related sections of the course will cover the following:
In this course we will build an accounting system starting with a blank Excel worksheet, creating a general journal, a general ledger, a trial balance, subledgers, and financial statements.
For each new step in the process, you will have access to a downloadable Excel Workbook, containing at least two tabs, one with the answer, the new steps having been completed, the other starting out where the prior presentation left off.
Once we have created our accounting system worksheet, we will use it to record common transactions, entering the journal entries into the general journal, posting to the general ledger, creating the trial balance, adjusting the subsidiary ledgers, and constructing the financial statements.
As we enter each transaction, we will consider the data input often used in accounting software like QuickBooks. Accounting software will use data input forms like bills, invoices, credit memos, checks, sales receipts, and more, to simplify the data input process, allowing users with little accounting experience to learn data input.
Accountants are generally more valuable when they understand both the accounting theory, the impact on financial statements of each transaction, as well as how an accounting database program like QuickBooks works, including the data input forms used to enter normal financial transactions.
Because spreadsheets are so transparent, they are the perfect tool to gain and understanding of both, accounting theory and accounting software.
Conversely, building an accounting system in Excel is a great way, one of the best ways, to improve your Excel skills.
CPA, CGMA, M.S. Tax, CPI
Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his. Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA). Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software. In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible. Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks. Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business. Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster. Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts. The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video. Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like CPDformula.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
