A Fast Track Course to Using QuickBooks Accounts Receivable

A Fast Track Course to Using QuickBooks Accounts Receivable

Full Description

Designed for all types of businesses, including individual entrepreneurs and small business owners, this course teaches all of the functions that are available in the accounts receivable module of QuickBooks. Course work focuses on using the invoicing and cash receipts modules to effectively track sales. The course work will take you through all of the different types of invoices and teach you how to customize them for your business. You will also learn how to receive payments and assess finance charges. In addition to the course work, there is also a forum that will be made available to you. This forum will be used for all communication with me. I will access and respond to this information on a daily basis so it will be a very effective communication tool.

Outcomes:

Upon completion of this course, students will be able to: A. Create Estimates, Invoices, Cash Sales, and Statements B. Receive payments (cash, check, and credit card) for invoices C. Customize forms for their specific needs

Assessment:

Students will be given assignments after each of the 5 lessons that will evaluate their understanding of the lesson. Once they have demonstrated an understanding of the lesson, they will proceed to the next lesson.

Course Information (see above or below lessons, outlines, activities, etc.) Day #1 - Choosing an invoice template; Determining if you will use classes; Determining if you will use cash sales, invoices, or both

Day #2 – Understanding the Basics of Creating Invoices
Each field of the basic invoices will be explained so that students have an understanding of how each field affects Quickbooks and the financial reporting. Students will use the information obtained in this lesson to progress to the lesson on customizing the invoices. During this initial period, students are encouraged to consider what information may be required on their invoices. Class structure and homework assignment schedules will be established as well.

Day #3 – Creating Cash Sales, Estimates and Credit Memos
You will learn how to create a cash sale, and how this differs from the invoicing process. You will learn how to create estimates for jobs. This will allow you give your customers a professional looking quote, but will not affect your inventory or accounts receivable balances. Once you have learned how to create and estimate, you will learn how to convert that estimate to an actual invoice. You will also learn how to issue credit memos for products that are returned. This will include an explanation of what happens to the accounts receivable and inventory modules when you issue a credit. Students will be given assignments and exercises to strengthen their skills in the aforementioned areas.

Day #4 – Entering Statement Charges, Creating Statements, and Assessing Finance Charges
On day 4, you will learn how to charge the customers finance charges on their open invoices. You will become familiar with the way that QuickBooks assesses finance charges as well as statement charges.

Day #5 Receiving Payments, Credit card payments, Customizing Invoices, and class summary
Now that you have learned how to create invoices, you need to learn how to apply payments against these invoices. You will learn some of the features that are available in the payments screen and what effect they have on the other modules. In addition, you will learn about accepting credit cards directly through Quickbooks. You will also be given a brief overview on how to customize invoices for your business. You will use this knowledge to complete an assignment that will build on all of the lessons to date. In conclusion, you will be given a short test that will assure that all of the assignments that you have previously completed were done correctly.

Contact Hours: 1