Chinook Learning Services - Calgary, Alberta, Canada

QuickBooks® - Level 2

Course Description

Overview: A continuation of QuickBooks® - Level 1. You must have completed Level 1 or be very proficient in setting up the ledgers and making journal entries. Topics include: month-end procedures and backups, bank reconciliations; correcting/reversing journal entries; credit notes, NSF cheques, bad debts; remitting GST and payroll maintenance; dealing with problems in setup or journal entries. You will learn to manage a wide range of transactions that can be encountered during regular bookkeeping.

Recommended prerequisites: QuickBooks® - Level 1

Participant Outcomes

Upon successful completion of this course, you will be able to:

  • Access various QuickBooks® functions using the Navigators, the Icon bar and the Menu bar
  • View and print the Chart of Accounts
  • Create new, and edit and delete existing accounts
  • Use account numbers with the Chart of Accounts
  • Create parent and subaccounts
  • Merge existing accounts
  • Process journal transactions
  • View historical journal transactions
  • Customize QuickBooks® through the Preferences function
  • Understand the advantages of using inventory management and when to use it
  • Understand the use of non-inventory items
  • Know how to set up the inventory feature
  • Know how to create parent and subitems
  • Process purchase orders and receipts
  • Enter inventory cash purchases or inventory purchases without a bill
  • Enter bills for inventory purchases previously received as well as inventory purchases received with a bill
  • Create inventory reports
  • Process a vendor credit refund
  • Enter credit card purchases
  • Pay accounts payable using a credit card
  • Process credit card payments
  • Pay bills taking vendor discounts
  • Assign customer types
  • Create cash and credit sales
  • Set up new terms “on the fly”
  • Create and process estimates
  • Create and utilize a subtotal and a discount item
  • Print and preview a sales invoice
  • Record payments received with discounts taken
  • Void a sale, delete a sale
  • Create credit memos
  • Enter a prepayment
  • Record NSF cheques and handle bad debts
  • Make deposits
  • Create estimates (quotes)
  • Make a customer inactive, reactivate a customer
  • Keep notes about a customer
  • Change item prices
  • Adjust inventory quantities/values
  • Print a customer price list
  • Create new tax codes and amend existing ones
  • Create and amend Employee information
  • Create an employee advance and recover it from an employee
  • Pay Vacation Pay to an employee
  • Issue a Record of Employment
  • Pay and adjust Payroll Liabilities
  • Process T4’s and produce T4 Summary at calendar year end
  • Reconcile a bank account
  • Reconcile a credit card account
  • Set up, enter, and edit memorized payment
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