QuickBooks
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What's on the QuickBooks Desktop Certification test
QUICKBOOKS SETUPA Student should know:
- What information is required before they set up a QuickBooks file
- How to start a new company data file in QuickBooks (Express Start and Advanced Setup - formerly called the Easy Step Interview)
- How to keep the lists and preferences from an old file while removing old transactions
- How to customize the Home page
- How to set up lists (customers, vendors, items, etc.). This includes understanding which names and items should appear on which lists.
UTILITIES & GENERAL PRODUCT KNOWLEDGEA Student should know:
- How to navigate or move around QuickBooks (use Home page, menus, icon bar, etc.)
- How to back up and restore a data file
- How to determine the release number and how to update QuickBooks
- How to use QuickBooks in single-user and multi-user mode
- What editions of QuickBooks are available and how to find out which one they are using.
- How to password-protect QuickBooks
- How and why to use preferences
PAYROLLA Student should know:
- The differences between the payroll services available from QuickBooks
- How to set up payroll (including employees, Federal and State taxes and basic payroll deductions) using the Payroll Setup Wizard.
- How to set up an employee's earnings and sick or vacation time
- How to track sick or vacation time (accruing hours and using "banked" hours)
- How and why to setup payroll schedules
- How to run payroll
- How and why to pay payroll liabilities
- How to prepare payroll forms (Form 941, W-2) in QuickBooks
- Track time and use it for payroll or for invoicing customers
ITEMSA Student should know:
- How QuickBooks uses items to perform the necessary accounting behind the scenes
- 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
- Deleting entries
- Services for a specified price
- Unique products or services that have different prices for each sale
- One service or product
SALESA Student should know:
- Who should be listed in the Customer Center
- How to navigate and use the Customer Center
- How to complete the workflow (from the sale-making the deposit) for:
- Invoicing (A/R)
- Sales Receipts (no A/R)
- How QuickBooks uses the Undeposited Funds, Accounts Receivable, and checking accounts in the invoicing cycle
- How and why to record a customer credit
- How and why to create statements
- How to handle bounced (NSF) checks
PURCHASESA Student should know:
- Who should be listed in the Vendor Center
- How to navigate and use the Vendor Center
- The different workflows for making purchases:
- Entering and paying bills (A/P)
- Writing checks
- Using a Credit Card
- Using a Debit Card
- How to record the transactions in the purchase workflows
- How and why to record a vendor credit
- How to complete the inventory workflow (Purchase Order to payment)
- How to set up, collect and pay sales tax
- Bank reconciliation
BASIC ACCOUNTINGA Student should know:
- What the basic financial statements are and have a basic understanding of what they mean.
- The difference between cash and accrual reports
- How and why to set a closing date
- How to enter a Journal Entry if asked to do so by an accountant (they do not need to fully understand what accounts to debit or credit)
REPORTSA Student should know:
- Why and how to use the Report Center
- How to customize reports (collapsing subaccounts, etc.)
- The basic question that each report answers (basic understanding of each report)
- How and why to send reports to Excel (how to update/refresh Excel reports from QuickBooks)
- How and why to process multiple reports
- How and why to memorize reports
LIST MANAGEMENTA Student should know:
- How to manage lists (customers, vendors, items, etc.). List management includes:
- Adding new entries
- Deleting entries
- Editing entries
- Merging entries
CUSTOMIZATION/SAVING TIME & SHORTCUTSA Student should know:
- How and why to memorize transactions (Automate Transaction Entry)
- How to set up multiple users and what level of access can be granted or denied
- How and why to create custom fields (customers, vendors, and employees)
- How to customize an invoice