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QBO vs QB Desktop 2022 #4 Adjusting & Reversing Entries

Learn both QuickBooks Online & QuickBooks Desktop, comparing & contrasting the two, from a Certified Public Accountant CPA

Created byRobert Steeleworkspace_premiumBest Instructor
BeginnerUpdated Jun 1, 2022
QBO vs QB Desktop 2022 #4 Adjusting & Reversing Entries

About This Course

This course will compare QuickBooks Online & QuickBooks Desktop so we can compare the pros and cons of each accounting software.

This course is the fourth in a series of courses covering QuickBooks 2022; comprehensively.

We will enter period end, typically month or year-end, adjusting entries.

Learners will understand the process of adjusting entries and how and why adjusting entries are separate from the general data input process.

We will learn how to transition from the accounting data input to the adjusting process and back to data input for the following month as smoothly as possible.

Making the transitions between the accounting data input and adjusting entries smooth requires reversing entries.

We will discuss which entries should need reversing and why. Learners will understand how to enter reversing entries.

The course will also cover the generation of reports, using filtering options, to show the adjusting and reversing entries.

Course Content

16 activities • 26 videos • duration: 8h 12m

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QBD- Adjusting & Reversing Entries Introduction 2022-Part12 videos • 28 min
  • videocamRestore & Backup Data Files
    Duration 10:48
  • videocamAdjusting Entries & Reversing Entries Introduction
    Duration 18:11
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QBO- Adjusting & Reversing Entries Introduction 2022-Part12 videos • 36 min
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QBD-Accrued Interest Adjusting and Reversing Entries-Part12 videos • 33 min
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QBO-Accrued Interest Adjusting and Reversing Entries-Part12 videos • 45 min
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QBD-Accounts Receivable or Revenue Adjusting and Reversing Entries-Part12 videos • 46 min
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QBO- Accounts Receivable or Revenue Adjusting and Reversing Entries-Part12 videos • 1 hour
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QBD- Insurance Adjusting Entries-Part11 videos • 10 min
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QBO-Insurance Adjusting Entries-Part11 videos • 17 min
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QBD-Depreciation Adjusting Entry-Part11 videos • 22 min
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QBO- Depreciation Adjusting Entry-Part11 videos • 26 min
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QBD-Unearned Revenue Adjusting & Reversing Entries-Part12 videos • 26 min
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QBO- Unearned Revenue Adjusting & Reversing Entries-Part12 videos • 39 min
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QBD-Loan Short Term & Long Term Portion Adjusting & Reversing Entries-Part12 videos • 21 min
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QBO-Loan Short Term & Long Term Portion Adjusting & Reversing Entries-Part12 videos • 33 min
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QBD-Journal Reports-Part11 videos • 23 min
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QBO- Journal Reports-Part11 videos • 17 min

Your Instructor

Robert Steele

CPA, CGMA, M.S. Tax, CPI

menu_book294 courses
star1,974 reviews

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.

Credit Information

Is this course eligible for my CPD requirements as a Canadian CPA?

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.

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Frequently Asked Questions

We are a registered provider with 300+ associations and regulatory bodies worldwide. We operate across 27 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

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