Quickbooks Online - Progress Invoicing & Revenue Recognition
Quickbooks Online - Progress Invoicing & Revenue Recognition
Published 6/2023
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English | Size: 5.27 GB | Duration: 4h 48m
Simplifying Complex Transactions for Extended Projects with Real-World Techniques
What you'll learn
Understand the principles and processes of progress invoicing and revenue recognition in QuickBooks Online.
Identify common revenue recognition issues that arise when managing jobs over a prolonged period.
Apply multiple techniques and strategies to handle these revenue recognition problems effectively.
Implement best practices for managing and monitoring long-term projects to ensure accurate invoicing and revenue recognition.
Use QuickBooks Online tools and features to streamline the progress invoicing and revenue recognition processes.
Requirements
Basic Accounting Knowledge: Understanding of basic accounting principles and terminologies is important. Concepts such as debits, credits, accounts payable and receivable, and general financial statement knowledge will be beneficial.
Familiarity with QuickBooks Online: Although this course will provide a comprehensive guide to progress invoicing and revenue recognition within QuickBooks Online, previous experience with the platform will be advantageous. Familiarity with the software's basic navigation and features will help you grasp the concepts quickly.
Motivated to Learn: The course dives deep into specific financial concepts. A desire to learn and apply these concepts is essential to fully benefit from the course.
Description
Dive headfirst into the intricate world of progress invoicing and revenue recognition with our comprehensive, 100% online course focusing on QuickBooks Online. Our meticulously designed course provides practical, hands-on knowledge, making it perfect for small business owners, accountants, financial professionals, or anyone seeking to broaden their understanding of these critical financial concepts.We believe in learning by doing, which is why this course offers a blend of instructional content backed by real-world examples and interactive exercises. The course is specially designed to address common issues in revenue recognition that can emerge when managing jobs spread over extended periods. It presents multiple strategies to tackle these problems effectively, ensuring you're prepared to handle any challenges that come your way.The aim of this course is not just to educate but to empower. We want you to finish this course with a clear understanding of progress invoicing and revenue recognition, but more importantly, with the ability to apply these concepts to your own business or job. This course will equip you with the necessary tools and knowledge to streamline your financial processes, enhance your business efficiency, and strengthen your financial management skills.Join us on this journey to financial mastery, and let's revolutionize the way you understand and manage your business's finances together. Enroll now and take your first step towards becoming a QuickBooks Online expert.
Overview
Section 1: Overview
Lecture 1 1010 Access Software to Practice With - Options
Lecture 2 1020 New Company Test File - Free 30 Trial
Lecture 3 1030 Progress Invoicing Overview - The Problem Progress Invoicing Solves
Section 2: Example One
Lecture 4 1040 Progress Invoicing – Example 1 -Estimate, Projects, Classes, & Customer Dep
Lecture 5 1050 Progress Invoicing Example 1 - Enter Project Expenses & Progress
Section 3: Example Two - Estimate, Customer Deposit, & Excel Worksheet Setup
Lecture 6 1060 Progress Invoicing - Example 2 – Calculate & Enter Estimate
Lecture 7 1070 Progress Invoicing - Example 2 - Customer Deposit
Lecture 8 1080 Progress Invoicing - Example 2 - Excel Worksheet Setup
Section 4: Example Two-Record Actual Costs, Revenue Recognition, Invoice, & Record Expense
Lecture 9 1090 Progress Invoicing - Example 2 - Record Actual Costs for Month 2
Lecture 10 1100 Progress Invoicing - Example 2 - Revenue Recognition for Month 2
Lecture 11 1110 Example 2 - Invoice Client, Receive Payment, & Record Expenses for Month 3
Section 5: Example Two-Recognize Revenue, Invoice Client, Record COGS
Lecture 12 1120 Example 2 - Recognize Revenue for Month 3 & Invoice Client for Month 4
Lecture 13 1130 Example 2 - Record COGS & Revenue for Month 4 & Invoice Customer for Month
Lecture 14 1140 Example 2 - Record Customer Payment, COGS, & Revenue for Month 5
Section 6: Example 2-Close Project, Zero Out WIP & Billing Account
Lecture 15 1150 Example 2 - Close Project, Zero Out WIP & Billings Account
Small Business Owners: Who need to understand how to manage revenue recognition and progress invoicing for long-term projects effectively.,Accountants and Financial Professionals: Who want to deepen their understanding of these essential financial concepts and how they're handled in QuickBooks Online.,Bookkeepers: Looking to expand their skills and provide more value to their clients.,Entrepreneurs: Who are self-managing their business finances and need a thorough understanding of progress invoicing and revenue recognition.,Financial Students or Enthusiasts: Seeking to gain practical knowledge of financial management in QuickBooks Online.,Professionals Preparing for QuickBooks Certification: This course can serve as a valuable resource for those preparing for certification, particularly for its focus on the advanced topics of progress invoicing and revenue recognition
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