Quickbooks presentation powerpoint student
- 2. 1.Accounting Basics 2.QuickBooks Online Set-Up Instructions for Set-Up Adding/Editing the Chart of Accounts 3.QuickBooks Basics Initial Investment Online Banking Data Links Write/Print Checks Reconciling Bank/Credit Card Accounts Credit Card transactions Journal Entries 4. Reports Profit & Loss Balance Sheet 5.Working “on” the business and not “in” the business Agenda
- 3. Accounting Basics Customers Business Vendors Revenue Expense
- 4. Accounting Basics Assets = Liabilities + Owner’s Equity Liabilities Equity Assets • A Balance Sheet is important to the business because: Provides quick view of the net worth of your business Your banker will also be interested in this report when considering you for a loan.
- 5. Accounting Basics Revenue – Expense = Net Income 1. Net Income is also known as: a. Profit & Loss b. Bottom Line 2. Net Income is reported on the Profit & Loss statement in QuickBooks (a.k.a. Income Statement). • A Profit & Loss Statement is important to the business because it provides information to: Your banker (for a loan application) Your accountant (for tax advice) You as the business owner (to adjust your business model)
- 6. Accounting Basics Income Expense Assets Liabilities Equity Profit & Loss Statement Balance Sheet •Sales •Payroll •Utilities •Materials •Bank Accts •Receivables •Major Equip •Credit Card •Loans •Payables •Investment •Net Income •Retained Earnings